Duplex With Open-Concept
For Sale
$415,000
1-340 Nw 122nd Street, Oklahoma City, OK 73114
Two-unit property with private suites, dedicated laundry space, parking, and adaptable bedroom arrangements.
Property Size2,300 SF
Price / SF$180.43
Days on Market56
Property Features for 1-340 Nw 122nd Street
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
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: Jun 29
Changed: Aug 20
Last Checked: Aug 22 at 1:48PM
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 duplex at 1-340 NW 122nd Street includes a 3-bedroom, 2-bathroom floor plan with an open living area connected to the kitchen and dining space. The kitchen has substantial cabinetry and counter space, while the primary suite includes a private bathroom and closet. Two additional bedrooms can accommodate household members, guests, or office use. Durable flooring, natural light, dedicated laundry space, and parking add practical functionality. The property size is 2,300 square feet.
The property is located in Oklahoma City with access to major highways, shopping, dining, schools, and employment centers. Its two-unit configuration supports both owner-occupancy and rental use, subject to the buyer’s intended operation.
The property is located in Oklahoma City with access to major highways, shopping, dining, schools, and employment centers. Its two-unit configuration supports both owner-occupancy and rental use, subject to the buyer’s intended operation.
Key Highlights
- Duplex with a 3‑bedroom, 2‑bathroom floor plan
- 2,300‑square‑foot property
- Open living, kitchen, and dining arrangement
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
Yes
Highway access
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-unit property with private suites, dedicated laundry space, parking, and adaptable bedroom arrangements.
Where is this duplex located?
The property is located at 1-340 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 a 3‑bedroom, 2‑bathroom floor plan; 2,300‑square‑foot property; Open living, kitchen, and dining arrangement
