Two-Story Duplex with Private
For Sale
$495,000
5309 N Shartel Avenue, Oklahoma City, OK 73118
MULTI_FAMILY - Other - Oklahoma City, OK
Property Size3,427 SF
Lot Size0.18 Acres
Price / SF$144.44
Days on Market294
Property Features for 5309 N Shartel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 3, Bathroom 4, Bedroom 1, Bathroom 1, Bedroom 3
Parking
4
Lot features
Interior Lot
Elementary school
M.L. King Jr. ES
Middle school
Moon MS
High school
Douglass HS
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Standard status
Active
APN
5309NShartel73118
Size
3,427 SF
Lot size
0.18 Acres
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Electric
Building Details
Year built
1957
Floors in Building
2
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Turner Chewning and Associates
(619) 253-0995
Listed By:
Ken Hutmacher · License #85494
(405) 204-9052
Added: Oct 23, 2025
Changed: Aug 4
Last Checked: Aug 12 at 8:06AM
MLS# 1197422
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 two-story duplex offers two well-maintained units with matching layouts. Each unit features two bedrooms and two bathrooms, with both bathrooms configured as en suites to the bedrooms. The property also includes a private one-car garage for each unit, along with generous living spaces and natural light throughout.
The building is constructed with brick and frame materials and sits on a 0.1807-acre lot. It was built in 1957 and is topped with a composition roof. Heating is provided by natural gas, and cooling is available via central air and electric systems.
Located at 5309 N Shartel Avenue in Oklahoma City (73118), the duplex is described as being close to restaurants, shopping, and other daily conveniences, supporting both owner-occupant and investor use.
The building is constructed with brick and frame materials and sits on a 0.1807-acre lot. It was built in 1957 and is topped with a composition roof. Heating is provided by natural gas, and cooling is available via central air and electric systems.
Located at 5309 N Shartel Avenue in Oklahoma City (73118), the duplex is described as being close to restaurants, shopping, and other daily conveniences, supporting both owner-occupant and investor use.
Key Highlights
- Two‑story duplex with two units, each with two bedrooms and two en‑suite bathrooms
- Private one‑car garage for each unit
- Brick and frame construction with composition roof
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
$31,284
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
6.32%
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%
$625,680
$625.7K
Cap Rate 7%
$446,914
$446.9K
Cap Rate 9%
$347,600
$347.6K
Market Conditions
NOI Build-Up for 3,427 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
$47.3K $13.80/SF
− Vacancy
−$2.6K −$0.76/SF
EGI
$44.7K $13.04/SF
− OpEx
−$13.4K −$3.91/SF
NOI
$31.3K $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%
$625,680
Cap Rate 7%
$446,914
Cap Rate 9%
$347,600
Alternative Uses
Best Use
Multifamily LT 5
$446.9K
$391.1K – $521.4K
NOI $31,284 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$413.5K
$361.8K – $482.5K
NOI $28,947 @ 7.0% cap · market cap 5.85%
Theoretical Best
Specialty Retail
$1.17M
$1.03M – $1.37M
NOI $82,042 @ 7.0% cap · market cap 16.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
Explore this area
Business Placement
Demographics for 73118, OK
13,521
Population
7,856
Households
1.7
Avg Household Size
37
Median Age
49%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
2,817
Density / Sq Mi
$69,321
Median Household Income
$45,494
Median Earnings
$1,064
Median Rent
$252,500
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 - Well-maintained brick-and-frame two-story duplex with natural gas heating, central air, and private garages for each unit.
Where is this duplex located?
The property is located at 5309 N Shartel Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two‑story duplex with two units, each with two bedrooms and two en‑suite bathrooms; Private one‑car garage for each unit; Brick and frame construction with composition roof
