Tudor Duplex
For Sale
$250,000
2840 NW 23rd Street, Oklahoma City, OK 73107
Residential Income, Oklahoma City, OK
Property Size2,116 SF
Lot Size0.18 Acres
Price / SF$118.15
Days on Market19
Property Features for 2840 NW 23rd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 1
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
Active
APN
2840NW23rd73107
Size
2,116 SF
Lot size
0.18 Acres
Building Details
Year built
1932
Floors in Building
1
Building materials
Brick & Frame
Roof type
Shingle
Architectural style
Tudor
Listing Agency:
Keller Williams Realty-Mulinix
(405) 329-6976
Listed By:
Sebastian Viard
(954) 790-4482
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 31 at 7:06AM
MLS# 1244461
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 duplex at 2840 NW 23rd Street in Oklahoma City contains 2,116 square feet on a 0.1756-acre parcel. The property was built in 1932 and features Tudor architecture with brick-and-frame construction and a shingle roof. The interior includes four bedrooms and two bathrooms.
Located in Oklahoma City, the property is identified as a duplex and is positioned for residential income use. Its established construction and traditional design provide a distinct physical profile within the local housing market.
Located in Oklahoma City, the property is identified as a duplex and is positioned for residential income use. Its established construction and traditional design provide a distinct physical profile within the local housing market.
Key Highlights
- Duplex configuration with 2,116 square feet of building area
- 0.1756‑acre parcel at 2840 NW 23rd Street, Oklahoma City
- Four bedrooms and two bathrooms
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
$19,316
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
7.73%
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%
$386,320
$386.3K
Cap Rate 7%
$275,943
$275.9K
Cap Rate 9%
$214,622
$214.6K
Market Conditions
NOI Build-Up for 2,116 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
$29.2K $13.80/SF
− Vacancy
−$1.6K −$0.76/SF
EGI
$27.6K $13.04/SF
− OpEx
−$8.3K −$3.91/SF
NOI
$19.3K $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%
$386,320
Cap Rate 7%
$275,943
Cap Rate 9%
$214,622
Alternative Uses
Best Use
Multifamily LT 5
$275.9K
$241.5K – $321.9K
NOI $19,316 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$255.3K
$223.4K – $297.9K
NOI $17,873 @ 7.0% cap · market cap 7.15%
Theoretical Best
Specialty Retail
$723.7K
$633.2K – $844.3K
NOI $50,657 @ 7.0% cap · market cap 20.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
481
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 - Two-unit residential income property with brick-and-frame construction and a traditional Tudor design.
Where is this duplex located?
The property is located at 2840 NW 23rd Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Duplex configuration with 2,116 square feet of building area; 0.1756‑acre parcel at 2840 NW 23rd Street, Oklahoma City; Four bedrooms and two bathrooms
