Fully Leased Brick
For Sale
$250,000
Pending
702 E Redbud Court, Stillwater, OK 74075
Residential Income, Stillwater, OK
Property Size1,984 SF
Lot Size0.20 Acres
Days on Market52
Property Features for 702 E Redbud Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 2
Parking
2
Appliances
Dryer, Refrigerator, Washer
Elementary school
Skyline ES
Middle school
Stillwater JHS
High school
Stillwater HS
Elementary school district
Stillwater
Middle school district
Stillwater
High school district
Stillwater
Directions
From McElroy & Hwy 177, north on Hwy 177 to Redbud Dr, go east on Redbud Drive to Redbud Court, turn North on Redbud Ct and property is on that corner.
Standard status
Pending
APN
702ERedbud702&70474075
Size
1,984 SF
Lot size
0.20 Acres
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Electric
Building Details
Year built
1975
Floors in Building
1
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Modern
Listing Agency:
C21/Judge Fite Guthrie · Century 21 Real Estate
(405) 282-7000
Listed By:
LaMoyne Hardin
(405) 740-4900
Added: Jul 13
Changed: Sep 2
Last Checked: Sep 2 at 5:06AM
MLS# 1238344
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 1,984-square-foot duplex contains two residential units on a 0.2031-acre lot. Built in 1975 with brick and frame construction, the property features spacious living areas, kitchens, bedrooms, bathrooms, and private outdoor space for each unit. Central air, electric cooling, natural gas heating, composition roofing, and included washers, dryers, and refrigerators serve the building. One side received a full remodel this year, while the other received new carpet this year.
Both units are currently occupied, providing an existing leased configuration. The property is located near shopping, restaurants, schools, and everyday amenities in Stillwater. The sale includes 702 and 704 E Redbud Court as one duplex property.
Both units are currently occupied, providing an existing leased configuration. The property is located near shopping, restaurants, schools, and everyday amenities in Stillwater. The sale includes 702 and 704 E Redbud Court as one duplex property.
Key Highlights
- Two‑unit duplex totaling 1,984 square feet on 0.2031 acres
- Both units occupied and offered together as one property
- 702 E Redbud Court fully remodeled this year
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
$15,272
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
6.11%
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%
$305,440
$305.4K
Cap Rate 7%
$218,171
$218.2K
Cap Rate 9%
$169,689
$169.7K
Market Conditions
NOI Build-Up for 1,984 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
$24.3K $12.24/SF
− Vacancy
−$2.5K −$1.24/SF
EGI
$21.8K $11.00/SF
− OpEx
−$6.5K −$3.30/SF
NOI
$15.3K $7.70/SF
Area
Payne County, OK
Vacancy
10.16%
Lease Rate
$12.24 /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%
$305,440
Cap Rate 7%
$218,171
Cap Rate 9%
$169,689
Alternative Uses
Best Use
Multifamily LT 5
$218.2K
$190.9K – $254.5K
NOI $15,272 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$202.1K
$176.9K – $235.8K
NOI $14,149 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$487.9K
$426.9K – $569.2K
NOI $34,152 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Explore this area
Business Placement
Demographics for 74075, OK
25,033
Population
12,255
Households
2
Avg Household Size
28
Median Age
50%
College-Educated
95%
High-School Grad
94.8 sq mi
ZIP Area
264
Density / Sq Mi
$45,540
Median Household Income
$23,292
Median Earnings
$933
Median Rent
$220,900
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 residential units offer private outdoor areas, central air, and current tenant occupancy.
Where is this duplex located?
The property is located at 702 E Redbud Court Stillwater, 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: Two‑unit duplex totaling 1,984 square feet on 0.2031 acres; Both units occupied and offered together as one property; 702 E Redbud Court fully remodeled this year
