Duplex With Two-Car
New
For Sale
$339,000
1404 Mary Lee Lane, Edmond, OK 73034
Residential Income, Edmond, OK
Property Size3,190 SF
Lot Size0.35 Acres
Price / SF$106.27
Days on Market3
Property Features for 1404 Mary Lee Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 2, Bathroom 3, Bathroom 5, Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 4, Bedroom 5, Bedroom 1
Fireplace
1
Appliances
Dishwasher, Disposal, Refrigerator, Water Heater
Lot features
Interior Lot
Elementary school
Will Rogers ES
Middle school
Central MS
High school
Memorial HS
Elementary school district
Edmond
Middle school district
Edmond
High school district
Edmond
Directions
FROM 15TH AND BOULEVARD, GO E. TO RANKIN ST, THEN N. TO MARY LEE LANE. THEN TUNR E. TO DUPLEX ON RIGHT.
Standard status
Active
APN
1404NONEMaryLee73034
Size
3,190 SF
Lot size
0.35 Acres
Utilities
Heating system
Natural Gas
Cooling system
Electric
Building Details
Year built
1979
Floors in Building
2
Building materials
Frame
Roof type
Shingle
Architectural style
Other
Listing Agency:
Salt Real Estate Inc
(405) 839-7070
Listed By:
Beau Bailey · License #177361
(405) 255-3538
Added: Aug 27
Last Checked: Aug 29 at 3:06AM
MLS# 1246604
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 duplex contains 3,190 square feet across two separately addressed units. The residence at 1404 includes two bedrooms and 2.5 bathrooms, while 1406 provides three bedrooms and two bathrooms. Both units feature kitchens, two-car garages, fenced backyard areas, and functional residential layouts. The property was built in 1979 and includes frame construction, shingle roofing, natural-gas heating, electric cooling, fireplaces, and specified appliances. Seller-replaced mechanical systems are part of the improvements, with the property offered as-is.
The site encompasses 0.351 acres in Edmond, Oklahoma. The backyard areas extend toward a creek behind the property line, with wooded space beyond. Elementary, middle, and high schools are within walking distance, and the property also has access to nearby highways and amenities.
The site encompasses 0.351 acres in Edmond, Oklahoma. The backyard areas extend toward a creek behind the property line, with wooded space beyond. Elementary, middle, and high schools are within walking distance, and the property also has access to nearby highways and amenities.
Key Highlights
- Two‑unit layout with a 2 Bed/2.5 Bath residence and a 3 Bed/2 Bath residence
- 3,190 square feet on a 0.351‑acre site
- Two‑car garages and fenced backyard areas
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
$20,298
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
5.99%
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%
$405,960
$406.0K
Cap Rate 7%
$289,971
$290.0K
Cap Rate 9%
$225,533
$225.5K
Market Conditions
NOI Build-Up for 3,190 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
$41.0K $12.84/SF
− Vacancy
−$4.1K −$1.27/SF
EGI
$36.9K $11.57/SF
− OpEx
−$16.6K −$5.21/SF
NOI
$20.3K $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%
$405,960
Cap Rate 7%
$289,971
Cap Rate 9%
$225,533
Alternative Uses
Best Use
Apartment 5plus
$290.0K
$253.7K – $338.3K
NOI $20,298 @ 7.0% cap · market cap 5.99%
Second Best
Multifamily LT 5
$276.9K
$242.3K – $323.0K
NOI $19,382 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$664.4K
$581.4K – $775.2K
NOI $46,509 @ 7.0% cap · market cap 13.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
Explore this area
Business Placement
Demographics for 73034, OK
47,553
Population
18,727
Households
2.5
Avg Household Size
37
Median Age
59%
College-Educated
96%
High-School Grad
51.7 sq mi
ZIP Area
920
Density / Sq Mi
$113,296
Median Household Income
$52,163
Median Earnings
$1,203
Median Rent
$368,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The two-unit property offers distinct floor plans, fenced outdoor areas, and convenient access to schools and highways.
Where is this duplex located?
The property is located at 1404 Mary Lee Lane Edmond, OK.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: Two‑unit layout with a 2 Bed/2.5 Bath residence and a 3 Bed/2 Bath residence; 3,190 square feet on a 0.351‑acre site; Two‑car garages and fenced backyard areas
