Newly Built Duplex with Fenced
For Sale
$415,000
1-332 Nw 122nd Street, Oklahoma City, OK 73114
Two modern residences offer flexible layouts, updated finishes, and complete appliance packages for immediate occupancy.
Property Size2,300 SF
Price / SF$180.43
Days on Market42
Property Features for 1-332 Nw 122nd Street
General Information
Standard status
Active
Size
2,300 SF
Elevators
No
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Furnished
No
Amenities
covered front porch
fenced backyard
breakfast bar
pantry
walk-in closet
tiled shower
linen storage
Building Details
Buildings
1
Listing Agency:
Cadence Real Estate
(405) 313-8239
Listed By:
Kathryn Thompson
(405) 313-8239
Source:
Exprealty
Added: Jun 29
Changed: Aug 9
Last Checked: Aug 9 at 12:15PM
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 residences, each with 3 bedrooms and 2 bathrooms within a combined 2,300 SF layout. Both units feature open living and kitchen areas, luxury vinyl tile flooring, granite countertops, breakfast bars, pantries, and major appliances. Primary suites include walk-in closets and private bathrooms with dual sinks and tiled showers. Covered front porches and fenced backyards extend the usable living areas.
The property is located at 1-332 NW 122nd Street in Oklahoma City, with both sides equipped with refrigerators, washers, dryers, and 2" white faux wood blinds. Additional interior features include linen storage in the secondary bathrooms and flexible bedroom space that can accommodate guests, tenants, or a home office.
The property is located at 1-332 NW 122nd Street in Oklahoma City, with both sides equipped with refrigerators, washers, dryers, and 2" white faux wood blinds. Additional interior features include linen storage in the secondary bathrooms and flexible bedroom space that can accommodate guests, tenants, or a home office.
Key Highlights
- Duplex with two 3‑bedroom, 2‑bathroom units
- Combined property size of 2300 SF
- Newly built residences with luxury vinyl tile and granite countertops
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
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 modern residences offer flexible layouts, updated finishes, and complete appliance packages for immediate occupancy.
Where is this duplex located?
The property is located at 1-332 Nw 122nd Street 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: Duplex with two 3‑bedroom, 2‑bathroom units; Combined property size of 2300 SF; Newly built residences with luxury vinyl tile and granite countertops
