7220 SE 15th St · Midwest City, OK 73110

$68,000

3 bd · 1.0 ba · 879 sqft · SingleFamily public records · 19 Days on market

Built 1949 7,427 sqft lot Est $120k · 43% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute home that has been remodeled. Beautiful wood floors. Priced to sell! Close to major shopping and restaurants.

Key facts

• Cozy kitchen
• Eat-in dining space
• Plenty of storage

Tags

• CONVERTED GARAGE
• COZY KITCHEN
• EAT-IN DINING SPACE
• PLENTY OF STORAGE
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Living area reported as 1,176 (appraisal source)
• Financial info: Property is REO / bank-owned; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete parking
• Home design: Single-family residence; Residential property; One story
• Construction: Frame construction with vinyl siding; Composition roof; Conventional foundation; Built (existing)
• Exterior features: Covered porch; Outbuildings; Storage; Interior lot

Interior

• Kitchen: Kitchen
• Bedrooms: 3 bedrooms (including a primary bedroom)
• Bathrooms: 1 full bathroom
• Interior features: One-level layout; Bonus room / family room / game room; Study; Dining area; Living area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $477 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $67k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 5.6% in Midwest City — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 71/100 on livability (#30 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime D+, employment D, amenities F.
• Midwest City-Del City (suburban): math 10% / reading 17% proficiency, ranked #231 of 270 in OK (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Midwest City Es (math 13% / reading 13%, grade F, #647 of 845 statewide, top 77%, 793 students, 0% FRL); Midwest City Hs (math 7% / reading 17%, grade F, #359 of 447 statewide, top 80%, 1,368 students, 0% FRL) — zoned schools average 0% FRL vs 57% district-wide (57 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.0%/yr); 173 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,980 (1.5% below list)

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.80% ✓
• Cap rate: 14.70%
• Cash-on-cash: 30.03%
• DSCR: 2.34
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $119,544
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
128 W Lilac Ln	0.41mi	3/1.0	875 (-0%)	1mo	$75,000	$86	79
1407 E Lockheed Ct	0.28mi	2/1.0 (-1)	816 (-7%)	2mo	$138,500	$170	68
1104 Stansell Dr	0.71mi	3/1.0	903 (+3%)	1mo	$130,000	$144	62
508 W Lockheed Dr	0.62mi	3/1.0	924 (+5%)	2mo	$115,000	$124	62
223 E Jacobs Dr	0.46mi	3/1.0	965 (+10%)	1mo	$140,000	$145	61
517 E Kerr Dr	0.70mi	3/1.0	925 (+5%)	1mo	$140,000	$151	58
207 W Ercoupe Dr	0.74mi	2/1.0 (-1)	864 (-2%)	2mo	$117,500	$136	56
507 N Key Blvd	0.66mi	2/1.0 (-1)	837 (-5%)	1mo	$80,000	$96	55
1500 Sandra Dr	0.58mi	2/1.0 (-1)	816 (-7%)	2mo	$114,900	$141	54
605 Lions Park Pl	0.68mi	3/1.5	989 (+12%)	1mo	$85,000	$86	45
413 N Marshall Dr	0.72mi	2/1.0 (-1)	796 (-9%)	2mo	$80,000	$101	44
713 E Proctor Pl	0.73mi	3/1.0	990 (+13%)	2mo	$135,000	$136	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.99% rent growth · sell at horizon

5-year hold

• IRR: 24.6%
• Equity multiple: 2.02×
• Total profit: $19,352
• Equity at exit: $10,139

10-year hold

• IRR: 32.4%
• Equity multiple: 3.94×
• Total profit: $56,011
• Equity at exit: $5,879

Cash invested: $19,040 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Oklahoma: 83 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

5-day notice; strongly landlord-favorable.

Methodology + full state rankings →

ZIP-level market 73110

• Rents YoY: 3.0%
• Active inventory: 173
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,225 high
• Mortgage (P&I): −$357
• Tax from tax record: −$106 /mo · $1,272/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $477

Break-even live

Break-even rent $621

Max offer price $68,000

Occupancy floor 56%

Sensitivity live

Price	-10% $515	-5% $496	+0% $477	+5% $457	+10% $438
Rent	-10% $380	-5% $428	+0% $477	+5% $525	+10% $573
Rate	-1.0pp $511	-0.5pp $494	base $477	+0.5pp $459	+1.0pp $441

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 E Northrup Dr Oklahoma City, OK	4.0	1.0	1085	$1,400	$1.29	24d	1	0.15mi
7122 SE 15th St Oklahoma City, OK	2.0	1.0	816	$1,100	$1.35	5d	1	0.16mi
312 Bolton Pl Oklahoma City, OK	3.0	1.5	756	$1,099	$1.45	24d	1	0.21mi
413 E Northrup Dr Oklahoma City, OK	3.0	1.0	800	$1,395	$1.74	3d	1	0.27mi
204 Elm St Oklahoma City, OK	3.0	2.0	1098	$1,250	$1.14	24d	1	0.27mi
422 E Northrup Dr Oklahoma City, OK	3.0	1.0	819	$1,395	$1.70	3d	1	0.32mi
313 W Peach St Oklahoma City, OK	2.0	1.0	724	$975	$1.35	18d	1	0.40mi
314 W Peach St Midwest City, OK	2.0	1.0	736	$950	$1.29	24d	1	0.42mi
317 W Peach St Oklahoma City, OK	2.0	1.0	878	$1,045	$1.19	4d	1	0.42mi
442 Babb Dr Oklahoma City, OK	2.0	2.0	920	$925	$1.01	5d	1	0.44mi
444 1/2 Babb Dr Oklahoma City, OK	2.0	1.0	920	$895	$0.97	5d	1	0.44mi
536 E Northrup Dr Oklahoma City, OK	2.0	1.0	858	$889	$1.04	3d	1	0.48mi
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	22d	1	0.53mi
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	5d	1	0.53mi
2105 Maple Dr Midwest City, OK	3.0	2.0	1032	$1,295	$1.25	24d	1	0.59mi
215 W McArthur Dr Oklahoma City, OK	2.0	1.0–2.0	795	$1,122	$1.41	3d	5	0.60mi
2220 S Air Depot Blvd Oklahoma City, OK	3.0	1.0	1020	$1,395	$1.37	24d	1	0.62mi
404 Mid America Blvd Oklahoma City, OK	2.0	1.0	831	$1,150	$1.38	3d	1	0.64mi
201 W Fairchild Dr Oklahoma City, OK	3.0	1.0	984	$975	$0.99	3d	1	0.65mi
322 E Kerr Dr Oklahoma City, OK	3.0	1.0	1086	$1,200	$1.10	24d	1	0.65mi
609 E Steed Dr Oklahoma City, OK	2.0	1.0	811	$1,800	$2.22	24d	1	0.65mi
538 E Indian Dr Oklahoma City, OK	2.0	1.0	739	$920	$1.24	22d	1	0.66mi
616 Lions Park Pl Oklahoma City, OK	2.0	1.0	906	$950	$1.05	3d	1	0.69mi
421 N Key Blvd Oklahoma City, OK	2.0	1.0	780	$900	$1.15	24d	1	0.69mi
204 W Lockheed Dr Oklahoma City, OK	2.0	1.0	864	$1,150	$1.33	18d	1	0.69mi
6608 SE 15th St Oklahoma City, OK	3.0	2.0	1103	$1,425	$1.29	22d	1	0.72mi
208 W Ercoupe Dr Oklahoma City, OK	3.0	1.0	1125	$1,500	$1.33	24d	1	0.74mi
209 W Douglas Dr Oklahoma City, OK	2.0	1.0	952	$895	$0.94	18d	1	0.76mi
403 N Key Blvd Oklahoma City, OK	2.0	1.0	794	$995	$1.25	5d	1	0.77mi
407 W Fairchild Dr Oklahoma City, OK	3.0	1.0	1062	$1,045	$0.98	3d	1	0.78mi
764 E Rose Dr Oklahoma City, OK	3.0	1.0	920	$1,025	$1.11	3d	1	0.80mi
205 N Key Blvd Oklahoma City, OK	2.0	1.0	1047	$995	$0.95	22d	1	0.89mi
423 W Douglas Dr Oklahoma City, OK	3.0	1.0	1014	$1,095	$1.08	22d	1	0.94mi
121 Gill Dr Oklahoma City, OK	3.0	1.0	950	$1,150	$1.21	3d	1	0.98mi
641 E Frolich Dr Oklahoma City, OK	3.0	1.5	1032	$975	$0.94	24d	1	1.00mi
721 E Bouse Dr Oklahoma City, OK	3.0	1.0	1002	$1,225	$1.22	3d	1	1.13mi
8032 E Reno Ave Oklahoma City, OK	1.0–2.0	1.0	770	$850	$1.10	3d	3	1.15mi
2904 Treight Creek Ln Midwest City, OK	2.0	2.0	984	$1,495	$1.52	2d	2	1.26mi
327 N Midwest Blvd Unit 205 Midwest City, OK	2.0	1.0	920	$900	$0.98	24d	1	1.41mi
677 Midtown Pl Midwest City, OK	1.0–2.0	1.0–2.0	770	$1,450	$1.88	2d	1	1.44mi

Listing history 37 events

1. 2026-06-02
   statusdays on market $68,000 Pending 19 DOM
2. 2026-06-01
   days on market $68,000 Active 18 DOM
3. 2026-05-31
   days on market $68,000 Active 17 DOM
4. 2026-05-23
   status Active
5. 2026-04-30
   status Pending
6. 2026-04-21
   listed $68,000 Active
7. 2020-07-23
   soldstatus $94,000
8. 2020-07-21
   soldstatus $93,900 Sold 114-char remark

   Show marketing remark (114 chars)

   Cute home that has been remodeled. Beautiful wood floors. Priced to sell! Close to major shopping and restaurants.

9. 2020-06-12
   status Pending 114-char remark

   Show marketing remark (114 chars)

   Cute home that has been remodeled. Beautiful wood floors. Priced to sell! Close to major shopping and restaurants.

10. 2020-06-09
    listed $89,000 Active 114-char remark

    Show marketing remark (114 chars)

    Cute home that has been remodeled. Beautiful wood floors. Priced to sell! Close to major shopping and restaurants.

11. 2020-06-01
    historical
12. 2020-05-27
    status Active
13. 2020-05-25
    historical
14. 2020-05-24
    status Active
15. 2020-05-06
    historical
16. 2020-05-06
    status Active
17. 2020-04-30
    historical
18. 2020-04-22
    price $89,000
19. 2020-04-19
    status Active
20. 2020-04-18
    historical
21. 2020-04-15
    listed $99,000 Active
22. 2019-08-18
    historical
23. 2019-06-20
    status Active
24. 2019-06-02
    status Pending
25. 2019-05-19
    price $71,900
26. 2019-04-22
    price $72,900
27. 2019-04-13
    listed $77,000 Active
28. 2019-01-05
    historical
29. 2018-09-18
    listed $80,000 Active
30. 2007-12-19
    historical
31. 2007-12-19
    historical
32. 2006-03-15
    listed $62,000
33. 2004-08-06
    historical
34. 2003-05-08
    listed $53,000
35. 2002-10-04
    listed $53,500
36. 1995-04-06
    soldstatus $26,500
37. 1992-12-31
    soldstatus $22,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OK · Resets to sale price

• Current annual tax: $1,272 · $106/mo
• Projected year-2 tax: $1,272 · $106/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,696
• − Mortgage interest: −$3,809
• − Property taxes: −$1,272
• − Insurance: −$340
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$1,978
• Taxable income: $4,945
• Est. tax owed @ 24.0%: −$1,187
• After-tax cash flow: $4,532/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Midwest City-Del City
• NCES district ID: 4019950
• Math proficiency: 10% ▼ -11.00%
• Reading proficiency: 17% ▼ -8.00%
• Median HH income: $45,724
• Composite: 12.09/100
• National rank: #9658
• State rank: #231 of 270 in OK

Livability — Midwest City

• Score: 71/100
• State rank: #30
• US rank: #6637

Category grades

Amenities F Commute F Cost of living A+ Crime D+ Employment D Housing A+ Health & safety A User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midwest City, OK
• County: Oklahoma County · 771,644 people
• City population: 57,386
• Metro: Oklahoma City, OK
• Population (ZIP): 32,348
• Household income: $51,228
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 1440.0

Population outlook (Oklahoma County) Hauer SSP2

• Today (2025): 911,875 people
• By 2030: 982,413 · +7.7%
• By 2040: 1,130,468 · +24.0%
• By 2050: 1,288,422 · +41.3%
• By 2075: 1,711,482 · +87.7%
• By 2100: 2,088,448 · +129.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 55% Black 25% Two or more races 11% Hispanic / Latino 7% Native American 4% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 2% Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Oklahoma

• 2024 margin: Toss-up / Even · D 48.0% · R 49.7% · Other 2.3%
• 2008→2024 swing: +15.1pp toward D · 2008: -16.8pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: R+1.1 2016: R+10.5 2012: R+16.7 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -156.25%
• Current HPI: 257.0791
• Rent YoY: ▲ 2.99%
• Metro: Oklahoma City, OK
• State GDP YoY: ▲ 1.55%
• F500 in state: 6

Industry mix (Fortune 500 HQ in OK)

Industry	F500 HQs	Revenue
▸Energy	3	$48B

Price history

+209.1% since first listed

34 events — show timeline

• 2026-05-23 Relisted — MLSOK
• 2026-04-30 Pending — MLSOK
• 2026-04-21 Listed $68,000 MLSOK
• 2020-07-23 Sold (Public Records) $94,000 Public Records
• 2020-07-21 Sold (MLS) $93,900 MLSOK
• 2020-06-12 Pending — MLSOK
• 2020-06-09 Listed $89,000 MLSOK
• 2020-06-01 Listing Removed — MLSOK
• 2020-05-27 Relisted — MLSOK
• 2020-05-25 Listing Removed — MLSOK
• 2020-05-24 Relisted — MLSOK
• 2020-05-06 Listing Removed — MLSOK
• 2020-05-06 Relisted — MLSOK
• 2020-04-30 Listing Removed — MLSOK
• 2020-04-22 Price Changed $89,000 MLSOK
• 2020-04-19 Relisted — MLSOK
• 2020-04-18 Listing Removed — MLSOK
• 2020-04-15 Listed $99,000 MLSOK
• 2019-08-18 Listing Removed — MLSOK
• 2019-06-20 Relisted — MLSOK
• 2019-06-02 Pending — MLSOK
• 2019-05-19 Price Changed $71,900 MLSOK
• 2019-04-22 Price Changed $72,900 MLSOK
• 2019-04-13 Listed $77,000 MLSOK
• 2019-01-05 Listing Removed — MLSOK
• 2018-09-18 Listed $80,000 MLSOK
• 2007-12-19 Listing Removed — MLSOK
• 2007-12-19 Listing Removed — MLSOK
• 2006-03-15 Listed $62,000 MLSOK
• 2004-08-06 Listing Removed — MLSOK
• 2003-05-08 Listed $53,000 MLSOK
• 2002-10-04 Listed $53,500 MLSOK
• 1995-04-06 Sold (Public Records) $26,500 Public Records
• 1992-12-31 Sold (Public Records) $22,000 Public Records

Property tax history

+7.1%/yr

Latest (2025): $1,272 · +0.8% YoY. Source: county tax records.