Craftsman Duplex with
New
For Sale
$439,900
812 NW 21st Street, Oklahoma City, OK 73106
MULTI_FAMILY - Craftsman - Oklahoma City, OK
Property Size2,348 SF
Lot Size0.12 Acres
Price / SF$187.35
Days on Market3
Property Features for 812 NW 21st Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 3, Bathroom 1
Parking
3
Fireplace
1
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Water Heater
Lot features
Interior Lot
Elementary school
Dove Science Academy ES,Wilson ES
Middle school
Classen MS Of Advanced Studies,Dove Science Academ
High school
Classen HS Of Advanced Studies,Douglass HS,Dove Sc
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
From NW 21st & Shartel, turn West on NW 21st. Property is on the S side of the street. Alley access for back parking is just S of NW 21st.
Standard status
Active
APN
812NW21st73106
Size
2,348 SF
Lot size
0.12 Acres
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Electric
Amenities
front porch
updated cabinets
granite countertops
stainless steel appliances
ceiling fans
washer/dryer
claw foot tub
original hardwood flooring
privacy fenced backyard
storage shed
Building Details
Year built
1910
Floors in Building
2
Building materials
Frame
Roof type
Composition
Architectural style
Craftsman
Listing Agency:
Metro Brokers of Oklahoma
(405) 330-1859
Listed By:
Kathleen Forrest
(405) 476-9600
Added: Aug 13
Last Checked: Aug 15 at 1:06AM
MLS# 1244207
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.
Built in 1910, this 2,348-square-foot Craftsman duplex contains a two-bedroom, one-bath lower residence and a three-bedroom, one-bath upper residence. The lower unit includes a living room, dining area, kitchen with granite counters and updated cabinetry, storage room, walk-in closet, washer and dryer, and a claw-foot bathtub. The upper unit offers hardwood floors, a renovated kitchen presentation, and available furnishings. Fresh paint has been added to the porch, entry, stairway, and lower unit.
The property occupies 0.1189 acres at 812 NW 21st Street in Oklahoma City’s Mesta Park / University Addition area. Rear access is provided by an alley, with a privacy-fenced yard, storage shed, and three-car parking pad. Central air, electric cooling, natural-gas heat, composition roofing, and frame construction complete the property. The lower residence is currently vacant, while the upper unit has month-to-month occupants.
The property occupies 0.1189 acres at 812 NW 21st Street in Oklahoma City’s Mesta Park / University Addition area. Rear access is provided by an alley, with a privacy-fenced yard, storage shed, and three-car parking pad. Central air, electric cooling, natural-gas heat, composition roofing, and frame construction complete the property. The lower residence is currently vacant, while the upper unit has month-to-month occupants.
Key Highlights
- 2,348‑square‑foot duplex with 2‑bedroom and 3‑bedroom units
- Built in 1910 with Craftsman architectural styling
- Updated kitchens feature granite countertops and newer cabinetry
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
$21,434
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
4.87%
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%
$428,680
$428.7K
Cap Rate 7%
$306,200
$306.2K
Cap Rate 9%
$238,156
$238.2K
Market Conditions
NOI Build-Up for 2,348 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
$32.4K $13.80/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$30.6K $13.04/SF
− OpEx
−$9.2K −$3.91/SF
NOI
$21.4K $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%
$428,680
Cap Rate 7%
$306,200
Cap Rate 9%
$238,156
Alternative Uses
Best Use
Multifamily LT 5
$306.2K
$267.9K – $357.2K
NOI $21,434 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$283.3K
$247.9K – $330.6K
NOI $19,833 @ 7.0% cap · market cap 4.51%
Theoretical Best
Specialty Retail
$803.0K
$702.6K – $936.9K
NOI $56,211 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
828
Businesses Nearby
Explore this area
Business Placement
Demographics for 73106, OK
12,956
Population
6,069
Households
2.1
Avg Household Size
32
Median Age
40%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
4,319
Density / Sq Mi
$51,934
Median Household Income
$32,145
Median Earnings
$1,050
Median Rent
$262,500
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 property with updated kitchens, furnished upper-level accommodations, and alley-accessed rear parking.
Where is this duplex located?
The property is located at 812 NW 21st Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: 2,348‑square‑foot duplex with 2‑bedroom and 3‑bedroom units; Built in 1910 with Craftsman architectural styling; Updated kitchens feature granite countertops and newer cabinetry
