Two-Unit Duplex with Private
New
For Sale
$330,000
24 W Rachel Street, Bixby, OK 74008
Residential, Bixby, OK
Property Size1,784 SF
Lot Size0.19 Acres
Price / SF$184.98
Days on Market4
Property Features for 24 W Rachel Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2
Window features
Aluminum Frames
Patio and Porch features
Patio
Interior features
High Speed Internet, Internet Wired
Exterior features
Sidewalk
Fencing
Privacy, Chain Link
Fireplace
1
Appliances
Dishwasher, Range/Oven, Refrigerator
Subdivision
Devine-Ellard addn
Lot features
Greenbelt
Elementary school
Central
Middle school
Central
High school
Bixby
Elementary school district
Bixby - Sch Dist (4)
Middle school district
Bixby - Sch Dist (4)
High school district
Bixby - Sch Dist (4)
Directions
From 151st St S and Memorial Dr, head south on Memorial Dr. Continue south to Rachel St, then turn right (west) onto W Rachel St. Continue on W Rachel St to the property at 24 W Rachel St, Bixby, OK 74008.
Standard status
Active
APN
57675-73-24-02680
Size
1,784 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 4 BLK 5
Tax Annual Amount
2489
Legal Description
LOT 4 BLK 5
Utilities
Utilities
Water Available
Heating system
Central
Cooling system
Central Air
Amenities
fireplace
washer/dryer hookups
patio
Building Details
Year built
1978
Floors in Building
1
Flooring type
Wood veneer, Carpet
Building materials
Wood Frame
Roof type
Fiberglass
Listing Agency:
Tulsa United Realty Group
(918) 255-0300
Listed By:
Francheska Umpierre
(918) 265-4616
Added: Sep 12
Changed: Sep 13
Last Checked: Sep 15 at 6:06AM
MLS# 2633448
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.
This 1,784-square-foot duplex in Bixby contains two residential units, each with two bedrooms, a bathroom, central heating and cooling, a fireplace, washer and dryer hookups, and a private patio. The wood-frame property was built in 1978 and includes refrigerators, range/ovens, dishwashers, carpet, wood veneer flooring, and fiberglass roofing. One unit also includes a washer and dryer. Separate utility meters serve the units, while chain-link and privacy fencing provide defined outdoor areas.
Located at 24 W Rachel Street, the property includes sidewalk access and water availability, with convenient access to Memorial Drive. There is no HOA, and each unit is positioned without another unit directly above or below it.
Located at 24 W Rachel Street, the property includes sidewalk access and water availability, with convenient access to Memorial Drive. There is no HOA, and each unit is positioned without another unit directly above or below it.
Key Highlights
- Two‑unit duplex totaling 1,784 square feet
- Each unit includes 2 bedrooms, a fireplace, hookups, and a private patio
- Separate utility meters for each unit
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
$15,908
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
4.82%
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%
$318,160
$318.2K
Cap Rate 7%
$227,257
$227.3K
Cap Rate 9%
$176,756
$176.8K
Market Conditions
NOI Build-Up for 1,784 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
$24.6K $13.80/SF
− Vacancy
−$1.9K −$1.06/SF
EGI
$22.7K $12.74/SF
− OpEx
−$6.8K −$3.82/SF
NOI
$15.9K $8.92/SF
Area
Tulsa County, OK
Vacancy
7.69%
Lease Rate
$13.80 /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%
$318,160
Cap Rate 7%
$227,257
Cap Rate 9%
$176,756
Alternative Uses
Best Use
Multifamily LT 5
$227.3K
$198.9K – $265.1K
NOI $15,908 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$197.9K
$173.1K – $230.8K
NOI $13,850 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$402.1K
$351.8K – $469.1K
NOI $28,144 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
326
Businesses Nearby
Explore this area
Business Placement
Demographics for 74008, OK
31,745
Population
12,447
Households
2.6
Avg Household Size
36
Median Age
44%
College-Educated
95%
High-School Grad
74.3 sq mi
ZIP Area
427
Density / Sq Mi
$95,476
Median Household Income
$48,691
Median Earnings
$1,302
Median Rent
$303,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Bixby duplex with separately metered units, central HVAC, fireplaces, and no HOA.
Where is this duplex located?
The property is located at 24 W Rachel Street Bixby, OK.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,784 square feet; Each unit includes 2 bedrooms, a fireplace, hookups, and a private patio; Separate utility meters for each unit
