Four-Bedroom Multifamily
For Sale
$350,000
515 Dayton Street, Muskogee, OK 74403
Residential, Muskogee, OK
Property Size3,192 SF
Lot Size0.16 Acres
Price / SF$109.65
Days on Market34
Property Features for 515 Dayton Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 2
Window features
Vinyl Frames
Patio and Porch features
Patio
Appliances
Range/Oven, Refrigerator
Subdivision
Muskogee OT
Elementary school
Irving
High school
Muskogee
Elementary school district
Muskogee - Sch Dist (K5)
Middle school district
Muskogee - Sch Dist (K5)
High school district
Muskogee - Sch Dist (K5)
Directions
US-75 S to Beggs. Take the US-75ALT/OK-16 exit from US-75 S, Follow OK-16 E to Dayton St in Muskogee
Standard status
Active
APN
510004690
Size
3,192 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
E20 N52 LOT 4 & N52 LOT 5 BLOCK 398, Muskogee OT
Tax Annual Amount
1021
Legal Description
E20 N52 LOT 4 & N52 LOT 5 BLOCK 398, Muskogee OT
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1930
Floors in Building
2
Flooring type
Tile, Hardwood
Building materials
Concrete
Listing Agency:
Keller Williams Advantage · Keller Williams Realty
(918) 291-2425
Listed By:
Alicia Swartz · License #171997
(918) 429-9890
Added: Jul 31
Changed: Sep 1
Last Checked: Sep 2 at 11:06AM
MLS# 2628301
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 multifamily property contains 3,192 square feet on a 0.155-acre parcel and includes four bedrooms and four bathrooms. Built in 1930, the structure uses concrete construction and features tile and hardwood flooring, central heating, central air conditioning, and a patio. Range/oven and refrigerator appliances are included.
The property is offered within a broader portfolio totaling approximately 41 rental doors. One portfolio property combines commercial and residential space, and the properties are preferred to be sold together. Showings and inspections are available by appointment with an accepted offer and/or proof of funds, as determined by the seller.
The property is offered within a broader portfolio totaling approximately 41 rental doors. One portfolio property combines commercial and residential space, and the properties are preferred to be sold together. Showings and inspections are available by appointment with an accepted offer and/or proof of funds, as determined by the seller.
Key Highlights
- 3,192‑square‑foot multifamily property on a 0.155‑acre parcel
- Four bedrooms and four bathrooms
- Part of a portfolio totaling approximately 41 rental doors
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
$25,855
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
7.39%
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%
$517,100
$517.1K
Cap Rate 7%
$369,357
$369.4K
Cap Rate 9%
$287,278
$287.3K
Market Conditions
NOI Build-Up for 3,192 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
$46.0K $14.40/SF
− Vacancy
−$4.6K −$1.44/SF
EGI
$41.4K $12.96/SF
− OpEx
−$15.5K −$4.86/SF
NOI
$25.9K $8.10/SF
Area
Muskogee County, OK
Vacancy
10.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
37.50%
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%
$517,100
Cap Rate 7%
$369,357
Cap Rate 9%
$287,278
Alternative Uses
Best Use
Mixed Use
$369.4K
$323.2K – $430.9K
NOI $25,855 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$272.1K
$238.1K – $317.4K
NOI $19,046 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$668.1K
$584.6K – $779.5K
NOI $46,768 @ 7.0% cap · market cap 13.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
954
Businesses Nearby
Explore this area
Business Placement
Demographics for 74403, OK
29,419
Population
12,779
Households
2.3
Avg Household Size
40
Median Age
21%
College-Educated
88%
High-School Grad
109.7 sq mi
ZIP Area
268
Density / Sq Mi
$57,171
Median Household Income
$35,732
Median Earnings
$841
Median Rent
$145,400
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?
Multifamily property - Part of a larger rental portfolio that includes one mixed-use property.
Where is this multifamily property located?
The property is located at 515 Dayton Street Muskogee, OK.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 3,192‑square‑foot multifamily property on a 0.155‑acre parcel; Four bedrooms and four bathrooms; Part of a portfolio totaling approximately 41 rental doors
