Duplex with Private
For Sale
$180,000
1633 E 4th Street, Tulsa, OK 74120
DUPLEX - Tulsa, OK
Property Size1,448 SF
Lot Size0.16 Acres
Price / SF$124.31
Days on Market56
Property Features for 1633 E 4th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 1
Window features
Vinyl Frames
Patio and Porch features
Porch, Patio
Interior features
9' Ceiling Height
Exterior features
Sidewalk
Fencing
Chain Link
Appliances
Dishwasher, Dryer, Range/Oven, Refrigerator, Washer
Subdivision
Midway I addn
Elementary school
Kendall Whittier
High school
Rogers
Elementary school district
Tulsa - Sch Dist (1)
Middle school district
Tulsa - Sch Dist (1)
High school district
Tulsa - Sch Dist (1)
Directions
Located East of 4th & Utica.
Standard status
Active
APN
27450-93-06-18340
Size
1,448 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Midway Add Lot 21 Block 6
Tax Annual Amount
442
Legal Description
Midway Add Lot 21 Block 6
Amenities
private courtyard
fenced yard
Building Details
Year built
1930
Floors in Building
1
Flooring type
Tile, Wood
Building materials
Wood Frame
Roof type
Fiberglass
Listing Agency:
Chinowth & Cohen
(918) 943-3009
Listed By:
Natalie Richardson · License #109473
(918) 409-8497
Added: Jun 18
Changed: Aug 10
Last Checked: Aug 12 at 10:06AM
MLS# 2622539
Copyright © 2026 MLS Technology, 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.
Built in 1930, this 1,448-square-foot duplex includes two bathrooms, three bedrooms, tile and wood flooring, and 9' ceilings. The wood-frame property features a private courtyard, porch, patio, chain-link fencing, and sidewalk access. Kitchen appliances include a dishwasher, dryer, range/oven, refrigerator, and washer.
The property is located in Tulsa’s Pearl District near The Church Studio, Country Bird Bakery, Cirque Coffee, breweries, restaurants, and entertainment venues. The 0.161-acre parcel is at 1633 E 4th Street, Tulsa, OK 74120.
Roof replacement and crawl-space leveling are needed, and a structural inspection is included in the MLS documents. The owner will not complete repairs.
The property is located in Tulsa’s Pearl District near The Church Studio, Country Bird Bakery, Cirque Coffee, breweries, restaurants, and entertainment venues. The 0.161-acre parcel is at 1633 E 4th Street, Tulsa, OK 74120.
Roof replacement and crawl-space leveling are needed, and a structural inspection is included in the MLS documents. The owner will not complete repairs.
Key Highlights
- 1,448‑square‑foot duplex on a 0.161‑acre lot
- Three bedrooms, two bathrooms, and 9' ceilings
- Private courtyard, porch, patio, and fully fenced yard
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
$14,105
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
7.84%
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%
$282,100
$282.1K
Cap Rate 7%
$201,500
$201.5K
Cap Rate 9%
$156,722
$156.7K
Market Conditions
NOI Build-Up for 1,448 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
$22.2K $15.36/SF
− Vacancy
−$2.1K −$1.44/SF
EGI
$20.2K $13.92/SF
− OpEx
−$6.0K −$4.17/SF
NOI
$14.1K $9.74/SF
Area
Tulsa, OK
Vacancy
9.40%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
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%
$282,100
Cap Rate 7%
$201,500
Cap Rate 9%
$156,722
Alternative Uses
Best Use
Multifamily LT 5
$201.5K
$176.3K – $235.1K
NOI $14,105 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$184.5K
$161.5K – $215.3K
NOI $12,916 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$308.8K
$270.2K – $360.3K
NOI $21,619 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,153
Businesses Nearby
Explore this area
Business Placement
Demographics for 74120, OK
5,037
Population
3,308
Households
1.5
Avg Household Size
37
Median Age
52%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
2,399
Density / Sq Mi
$66,280
Median Household Income
$46,823
Median Earnings
$1,071
Median Rent
$415,300
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 - Two-unit property with fenced outdoor space, retained appliances, and original wood-frame construction.
Where is this duplex located?
The property is located at 1633 E 4th Street Tulsa, OK.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: 1,448‑square‑foot duplex on a 0.161‑acre lot; Three bedrooms, two bathrooms, and 9' ceilings; Private courtyard, porch, patio, and fully fenced yard
