Newly Built
For Sale
$415,000
1-324 Nw 122nd St, Oklahoma City, OK 73114
Two contemporary residences offer open interiors, private outdoor areas, and included appliances for immediate occupancy.
Property Size2,300 SF
Price / SF$180.43
Days on Market106
Property Features for 1-324 Nw 122nd St
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
Cadence Real Estate
(405) 313-8239
Listed By:
Kathryn Thompson
(405) 313-8239
Source:
Exprealty
Added: May 16
Changed: Aug 28
Last Checked: Aug 28 at 8:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cadence Real Estate
Investment Insights
Based on property information with market context.
This newly built duplex contains two separate residences with contemporary finishes and practical layouts. Each side includes three bedrooms, two full bathrooms, an open living and kitchen area, breakfast bar, pantry, and a primary suite with a walk-in closet, dual-sink bath, and tiled shower. Luxury vinyl tile flooring, granite or quartz countertops, natural light, and covered front porches are featured throughout. Both residences also include fenced backyards and linen storage in the secondary bathroom.
The property measures 2,300 square feet in total and includes the entire duplex, identified as units 1 and 2. Each residence is equipped with a refrigerator, washer, dryer, and two-inch white faux wood blinds. The additional bedrooms provide flexible space for occupants, guests, or office use.
The property measures 2,300 square feet in total and includes the entire duplex, identified as units 1 and 2. Each residence is equipped with a refrigerator, washer, dryer, and two-inch white faux wood blinds. The additional bedrooms provide flexible space for occupants, guests, or office use.
Key Highlights
- 2,300 SF duplex comprising units 1 and 2
- Each unit offers 3 bedrooms and 2 full bathrooms
- Open living and kitchen layouts with breakfast bars and pantries
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
$20,996
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
5.06%
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%
$419,920
$419.9K
Cap Rate 7%
$299,943
$299.9K
Cap Rate 9%
$233,289
$233.3K
Market Conditions
NOI Build-Up for 2,300 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
$31.7K $13.80/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$30.0K $13.04/SF
− OpEx
−$9.0K −$3.91/SF
NOI
$21.0K $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%
$419,920
Cap Rate 7%
$299,943
Cap Rate 9%
$233,289
Alternative Uses
Best Use
Multifamily LT 5
$299.9K
$262.5K – $349.9K
NOI $20,996 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$277.5K
$242.8K – $323.8K
NOI $19,427 @ 7.0% cap · market cap 4.68%
Theoretical Best
Specialty Retail
$786.6K
$688.3K – $917.7K
NOI $55,062 @ 7.0% cap · market cap 13.27%
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
156
Businesses Nearby
Explore this area
Business Placement
Demographics for 73114, OK
18,694
Population
9,311
Households
2
Avg Household Size
30
Median Age
25%
College-Educated
90%
High-School Grad
9.5 sq mi
ZIP Area
1,968
Density / Sq Mi
$52,592
Median Household Income
$35,931
Median Earnings
$1,135
Median Rent
$134,100
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 - Two contemporary residences offer open interiors, private outdoor areas, and included appliances for immediate occupancy.
Where is this duplex located?
The property is located at 1-324 Nw 122nd St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: 2,300 SF duplex comprising units 1 and 2; Each unit offers 3 bedrooms and 2 full bathrooms; Open living and kitchen layouts with breakfast bars and pantries
