Residential Income Property with Flex
For Sale
$195,000
10 NW 156th Street Unit 10, Edmond, OK 73013
Half-duplex residence includes two bedrooms, two full baths, and an adaptable flex room for additional living or work space.
Property Size1,292 SF
Price / SF$150.93
Days on Market11
Property Features for 10 NW 156th Street Unit 10
General Information
Standard status
Active
Size
1,292 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$2,263
Building Details
Building Size
1,292 SF
Year Built
2003
Listing Agency:
Copper Creek Real Estate
(405) 694-7562
Listed By:
Steven Thacker
Source:
Stetsonbentley
Added: Jul 30
Changed: Aug 2
Last Checked: Aug 8 at 8:58AM
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 Copper Creek Real Estate
Investment Insights
Based on property information with market context.
This 1,292-square-foot half duplex in Edmond provides two bedrooms, two full bathrooms, and a flexible additional room that can support bedroom, office, or hobby use. The residence was built in 2003 and is offered as an individual unit within a larger group of duplex properties.
The seller will consider a single half duplex, multiple duplexes, or the complete portfolio. Rent rolls and further investment materials are available upon request, while showings of additional occupied units may be arranged after an executed purchase contract.
The seller will consider a single half duplex, multiple duplexes, or the complete portfolio. Rent rolls and further investment materials are available upon request, while showings of additional occupied units may be arranged after an executed purchase contract.
Key Highlights
- 1,292‑square‑foot half duplex in Edmond
- Two bedrooms and two full bathrooms
- Flexible room suited to bedroom, office, or hobby use
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
$8,221
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
4.22%
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%
$164,420
$164.4K
Cap Rate 7%
$117,443
$117.4K
Cap Rate 9%
$91,344
$91.3K
Market Conditions
NOI Build-Up for 1,292 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
$16.6K $12.84/SF
− Vacancy
−$1.6K −$1.27/SF
EGI
$14.9K $11.57/SF
− OpEx
−$6.7K −$5.21/SF
NOI
$8.2K $6.36/SF
Area
Oklahoma County, OK
Vacancy
9.90%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
45.00%
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%
$164,420
Cap Rate 7%
$117,443
Cap Rate 9%
$91,344
Alternative Uses
Best Use
Apartment 5plus
$117.4K
$102.8K – $137.0K
NOI $8,221 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$269.1K
$235.5K – $314.0K
NOI $18,837 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 73013, OK
56,972
Population
22,971
Households
2.5
Avg Household Size
36
Median Age
59%
College-Educated
97%
High-School Grad
32.7 sq mi
ZIP Area
1,742
Density / Sq Mi
$108,727
Median Household Income
$54,073
Median Earnings
$1,465
Median Rent
$292,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Half-duplex residence includes two bedrooms, two full baths, and an adaptable flex room for additional living or work space.
Where is this residential income property located?
The property is located at 10 NW 156th Street Unit 10 Edmond, OK.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 1,292‑square‑foot half duplex in Edmond; Two bedrooms and two full bathrooms; Flexible room suited to bedroom, office, or hobby use
