Duplex with Attached Two-Car
For Sale
$339,900
Pending
1848 Cypress Lane, El Reno, OK 73036
MULTI_FAMILY - Other - El Reno, OK
Property Size2,450 SF
Lot Size0.10 Acres
Days on Market13
Property Features for 1848 Cypress Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 6
Parking
4
Appliances
Dishwasher, Disposal, Microwave, Water Heater
Lot features
Interior Lot
Elementary school
Hillcrest ES,Leslie F Roblyer Learning Ctr,Lincoln
Middle school
Etta Dale JHS
High school
El Reno HS
Elementary school district
El Reno
Middle school district
El Reno
High school district
El Reno
Directions
From Country Club Road and Settlers Crossing Blvd go West on Settles Crossing Blvd. Go to Wagon Wheel and Circle around to 2nd right. Go Left to Cypress Lane and follow around to property.
Standard status
Pending
APN
1848NONECypress73036
Size
2,450 SF
Lot size
0.10 Acres
Taxes and HOA fees
HOA Fee
$150 Annually
Utilities
Heating system
Electric (Heating)
Cooling system
Central Air, Electric
Building Details
Year built
2020
Floors in Building
1
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Flotilla Real Estate Partners
(405) 977-0207
Listed By:
Thad Dobson
(405) 255-3302
Added: Jul 31
Changed: Aug 10
Last Checked: Aug 12 at 11:06AM
MLS# 1241772
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 income-producing duplex features two separate units built in 2020 with a brick and frame exterior. One unit is currently leased, and the second unit is vacant and ready for an owner-occupant or a new tenant. Each side offers approximately 1,250 square feet with three bedrooms and two full bathrooms, plus an attached 2-car garage.
The property totals about 2,450 square feet on a 0.0967-acre lot. Heating is electric, and cooling is central air with electric service. Appliances included list a dishwasher, disposal, microwave, and a water heater. The roof is composition.
For buyers looking for a flexible setup, the current lease status provides an opportunity to keep one unit as a rental while moving into the other or re-leasing the vacant unit.
The property totals about 2,450 square feet on a 0.0967-acre lot. Heating is electric, and cooling is central air with electric service. Appliances included list a dishwasher, disposal, microwave, and a water heater. The roof is composition.
For buyers looking for a flexible setup, the current lease status provides an opportunity to keep one unit as a rental while moving into the other or re-leasing the vacant unit.
Key Highlights
- 0.0967‑acre lot with a total of 2,450 SF duplex
- Built in 2020 with brick and frame construction
- One unit leased; second unit vacant and ready
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
$15,919
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
4.68%
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%
$318,380
$318.4K
Cap Rate 7%
$227,414
$227.4K
Cap Rate 9%
$176,878
$176.9K
Market Conditions
NOI Build-Up for 2,450 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
$25.0K $10.20/SF
− Vacancy
−$2.2K −$0.92/SF
EGI
$22.7K $9.28/SF
− OpEx
−$6.8K −$2.78/SF
NOI
$15.9K $6.50/SF
Area
Canadian County, OK
Vacancy
9.00%
Lease Rate
$10.20 /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%
$318,380
Cap Rate 7%
$227,414
Cap Rate 9%
$176,878
Alternative Uses
Best Use
Multifamily LT 5
$227.4K
$199.0K – $265.3K
NOI $15,919 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$191.3K
$167.4K – $223.2K
NOI $13,389 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$533.5K
$466.8K – $622.4K
NOI $37,342 @ 7.0% cap · market cap 10.99%
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
207
Businesses Nearby
Explore this area
Business Placement
Demographics for 73036, OK
19,602
Population
7,790
Households
2.5
Avg Household Size
37
Median Age
19%
College-Educated
87%
High-School Grad
183.8 sq mi
ZIP Area
107
Density / Sq Mi
$59,617
Median Household Income
$35,660
Median Earnings
$912
Median Rent
$162,900
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 - 2020-built duplex with one leased unit and one vacant unit, each offering three bedrooms and two full baths.
Where is this duplex located?
The property is located at 1848 Cypress Lane El Reno, OK.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 0.0967‑acre lot with a total of 2,450 SF duplex; Built in 2020 with brick and frame construction; One unit leased; second unit vacant and ready
