Duplex with Covered
For Sale
$225,000
18123 Manera Way, Edmond, OK 73012
SINGLE_FAMILY - Other - Edmond, OK
Property Size1,485 SF
Lot Size0.09 Acres
Price / SF$151.52
Days on Market26
Property Features for 18123 Manera Way
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bathroom 4
Patio and Porch features
Porch, Patio
Exterior features
Patio-Covered, Covered Porch
Lot features
Interior Lot
Elementary school
Grove Valley ES
Middle school
Deer Creek MS
High school
Deer Creek HS
Elementary school district
Deer Creek
Middle school district
Deer Creek
High school district
Deer Creek
Directions
Will GPS. From NW 178th and May Ave, go North and take the 2nd right turn onto Manera Way. Home is on Right.
Standard status
Active
APN
18123NONEManera73012
Size
1,485 SF
Lot size
0.09 Acres
Taxes and HOA fees
HOA Fee
$795 Annually
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Electric
Building Details
Year built
2016
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Flotilla Real Estate Partners
(405) 977-0207
Listed By:
Brandon Hart
(405) 990-4569
Added: Jul 17
Changed: Aug 5
Last Checked: Aug 11 at 10:06PM
MLS# 1239745
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 move-in ready duplex offers a comfortable, open-concept layout with tall ceilings, abundant natural light, and a split-bedroom design that helps separate the primary suite. The home features spacious closets and generous cabinet storage, supporting day-to-day functionality. Exterior amenities include a covered porch and patio.
HOA coverage includes yard maintenance, helping keep outdoor upkeep low maintenance. The property is also described as being in the Deer Creek area, with neighborhood parks and a splash pad nearby.
Additional building details include brick & frame construction, natural gas heating, central air with electric cooling, and a composition roof. The home is arranged with multiple bedrooms and bathrooms to support flexible living needs.
HOA coverage includes yard maintenance, helping keep outdoor upkeep low maintenance. The property is also described as being in the Deer Creek area, with neighborhood parks and a splash pad nearby.
Additional building details include brick & frame construction, natural gas heating, central air with electric cooling, and a composition roof. The home is arranged with multiple bedrooms and bathrooms to support flexible living needs.
Key Highlights
- Three‑bedroom, two‑bath duplex with split‑bedroom privacy layout
- Open‑concept interior with tall ceilings and abundant natural light
- 0.086 acres and 1,485 SF duplex home
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
$9,449
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
4.20%
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%
$188,980
$189.0K
Cap Rate 7%
$134,986
$135.0K
Cap Rate 9%
$104,989
$105.0K
Market Conditions
NOI Build-Up for 1,485 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
$19.1K $12.84/SF
− Vacancy
−$1.9K −$1.27/SF
EGI
$17.2K $11.57/SF
− OpEx
−$7.7K −$5.21/SF
NOI
$9.4K $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%
$188,980
Cap Rate 7%
$134,986
Cap Rate 9%
$104,989
Alternative Uses
Best Use
Apartment 5plus
$135.0K
$118.1K – $157.5K
NOI $9,449 @ 7.0% cap · market cap 4.20%
Second Best
Multifamily LT 5
$128.9K
$112.8K – $150.4K
NOI $9,023 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$309.3K
$270.6K – $360.9K
NOI $21,651 @ 7.0% cap · market cap 9.62%
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
157
Businesses Nearby
Explore this area
Business Placement
Demographics for 73012, OK
41,289
Population
16,172
Households
2.6
Avg Household Size
34
Median Age
56%
College-Educated
97%
High-School Grad
34.1 sq mi
ZIP Area
1,211
Density / Sq Mi
$123,528
Median Household Income
$59,000
Median Earnings
$1,779
Median Rent
$295,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Move-in ready three-bedroom duplex with an open-concept split-bedroom layout and covered porch and patio amenities.
Where is this duplex located?
The property is located at 18123 Manera Way Edmond, OK.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bath duplex with split‑bedroom privacy layout; Open‑concept interior with tall ceilings and abundant natural light; 0.086 acres and 1,485 SF duplex home
