Two-Bedroom Residential Income
For Sale
$114,000
109 Kendra Drive, Midwest City, OK 73110
Residential Income, Midwest City, OK
Property Size1,051 SF
Price / SF$108.47
Days on Market61
Property Features for 109 Kendra Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Parking
2
Fireplace
1
Appliances
Dishwasher, Refrigerator, Washer/Dryer, Water Heater
Lot features
Interior Lot
Elementary school
Steed ES
Middle school
Midwest City MS
High school
Midwest City HS
Elementary school district
Midwest City/Del City
Middle school district
Midwest City/Del City
High school district
Midwest City/Del City
Directions
From Reno and Douglas Blvd, go W to Kendra, N to property.
Standard status
Active
APN
109NONEKendra73110
Size
1,051 SF
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Electric
Amenities
decorative fireplace
glass top electric stove
dishwasher
refrigerator
stackable washer/dryer
Building Details
Year built
1981
Floors in Building
1
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
RE/MAX Gemini · RE/MAX International
(405) 605-7355
Listed By:
Sonya Weaver · License #132181
(405) 249-2225
Added: Jul 5
Changed: Aug 19
Last Checked: Sep 3 at 3:06AM
MLS# 1237994
Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,051-square-foot residential income unit is part of a four-plex built in 1981. The layout includes two bedrooms, two full bathrooms, a spacious living room, and an adjoining dining area with a decorative fireplace. The kitchen is equipped with a glass-top electric stove, dishwasher, refrigerator, and stackable washer/dryer. Recent improvements include LVP flooring, interior paint, recessed kitchen lighting, updated cabinets, subway tile backsplash, and new countertops, completed within the last three years.
The property is located in Midwest City, Oklahoma, and is constructed with brick and frame materials under a composition roof. Natural gas heating and central electric air conditioning serve the unit. The HVAC system was manufactured in 2017, while the HWT is dated 2020. The current lease runs through 30 Sep 26, and the tenant has expressed interest in remaining if permitted.
The property is located in Midwest City, Oklahoma, and is constructed with brick and frame materials under a composition roof. Natural gas heating and central electric air conditioning serve the unit. The HVAC system was manufactured in 2017, while the HWT is dated 2020. The current lease runs through 30 Sep 26, and the tenant has expressed interest in remaining if permitted.
Key Highlights
- 1,051‑square‑foot unit within a four‑plex
- Two bedrooms and two full bathrooms
- Current lease runs through 30 Sep 26
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$6,687
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$133,740
$133.7K
Cap Rate 7%
$95,529
$95.5K
Cap Rate 9%
$74,300
$74.3K
Market Conditions
NOI Build-Up for 1,051 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$13.5K $12.84/SF
− Vacancy
−$1.3K −$1.27/SF
EGI
$12.2K $11.57/SF
− OpEx
−$5.5K −$5.21/SF
NOI
$6.7K $6.36/SF
Area
Oklahoma County, OK
Vacancy
9.90%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$133,740
Cap Rate 7%
$95,529
Cap Rate 9%
$74,300
Alternative Uses
Best Use
Apartment 5plus
$95.5K
$83.6K – $111.5K
NOI $6,687 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$218.9K
$191.5K – $255.4K
NOI $15,323 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 73110, OK
33,156
Population
15,826
Households
2.1
Avg Household Size
35
Median Age
20%
College-Educated
91%
High-School Grad
15.5 sq mi
ZIP Area
2,139
Density / Sq Mi
$50,436
Median Household Income
$35,043
Median Earnings
$1,007
Median Rent
$119,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Occupied unit with a refreshed kitchen, in-unit laundry, and a lease extending through September 2026.
Where is this residential income property located?
The property is located at 109 Kendra Drive Midwest City, OK.
What is the asking price?
The asking price for this property is $114,000.
What are key features of this property?
This property features: 1,051‑square‑foot unit within a four‑plex; Two bedrooms and two full bathrooms; Current lease runs through 30 Sep 26
