Tudor Duplex with Restored Hardwood
For Sale
$299,000
Pending
2833 NW 22nd Street, Oklahoma City, OK 73107
MULTI_FAMILY - Tudor - Oklahoma City, OK
Property Size1,806 SF
Lot Size0.17 Acres
Days on Market81
Property Features for 2833 NW 22nd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4
Parking
2
Fireplace
1
Appliances
Dishwasher, Refrigerator, Washer/Dryer, Water Heater
Lot features
Interior Lot
Elementary school
Cleveland ES
Middle school
Taft MS
High school
Northwest Classen HS
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Standard status
Pending
APN
2833NW22nd73107
Size
1,806 SF
Lot size
0.17 Acres
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Electric
Amenities
gated and fenced backyard
storage sheds
Building Details
Year built
1928
Floors in Building
1
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Tudor
Listing Agency:
Verbode
(405) 757-7001
Listed By:
Sarah Bytyqi · License #154928
(405) 757-7001
Added: May 31
Changed: Aug 1
Last Checked: Aug 19 at 11:06AM
MLS# 1232000
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 Tudor-style duplex features identical units with restored hardwood floors and updated kitchens and bathrooms. The building is brick & frame construction with a composition roof, heated by natural gas and cooled with central air and electric systems. A fireplace is also present. Each unit includes a dishwasher, refrigerator, washer/dryer, and a water heater.
Outside, the property offers a gated and fenced backyard with a parking pad and two storage sheds for tenant use. Unit 2833 is leased through April 2027, while unit 2835 is currently available.
Built in 1928, the property sits on a 0.1722-acre lot. The total building size is 1,806 square feet.
Outside, the property offers a gated and fenced backyard with a parking pad and two storage sheds for tenant use. Unit 2833 is leased through April 2027, while unit 2835 is currently available.
Built in 1928, the property sits on a 0.1722-acre lot. The total building size is 1,806 square feet.
Key Highlights
- Identical duplex units with restored hardwood floors and updated kitchens and bathrooms
- Gated, fenced backyard with a parking pad and two storage sheds for tenant use
- 2833 leased through April 2027; 2835 currently available
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
$16,486
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
5.51%
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%
$329,720
$329.7K
Cap Rate 7%
$235,514
$235.5K
Cap Rate 9%
$183,178
$183.2K
Market Conditions
NOI Build-Up for 1,806 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
$24.9K $13.80/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$23.6K $13.04/SF
− OpEx
−$7.1K −$3.91/SF
NOI
$16.5K $9.13/SF
Area
Oklahoma City, OK
Vacancy
5.50%
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%
$329,720
Cap Rate 7%
$235,514
Cap Rate 9%
$183,178
Alternative Uses
Best Use
Multifamily LT 5
$235.5K
$206.1K – $274.8K
NOI $16,486 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$217.9K
$190.7K – $254.3K
NOI $15,255 @ 7.0% cap · market cap 5.10%
Theoretical Best
Specialty Retail
$617.7K
$540.5K – $720.6K
NOI $43,236 @ 7.0% cap · market cap 14.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
Explore this area
Business Placement
Demographics for 73107, OK
26,318
Population
12,621
Households
2.1
Avg Household Size
34
Median Age
31%
College-Educated
80%
High-School Grad
7.6 sq mi
ZIP Area
3,463
Density / Sq Mi
$58,428
Median Household Income
$38,753
Median Earnings
$1,014
Median Rent
$143,000
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 - Brick-and-frame duplex with restored hardwood floors, central air, natural gas heat, and a gated backyard with tenant storage.
Where is this duplex located?
The property is located at 2833 NW 22nd Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Identical duplex units with restored hardwood floors and updated kitchens and bathrooms; Gated, fenced backyard with a parking pad and two storage sheds for tenant use; 2833 leased through April 2027; 2835 currently available
