Updated Duplex with Two
New
For Sale
$420,000
1001 Merlin dr, Norman, OK 73072
MULTI_FAMILY - Other - Norman, OK
Property Size2,844 SF
Lot Size0.16 Acres
Price / SF$147.68
Days on Market4
Property Features for 1001 Merlin dr
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 4, Bathroom 3, Bedroom 3, Bathroom 1
Lot features
Corner Lot
Elementary school
Madison ES
Middle school
Irving MS
High school
Norman HS
Elementary school district
Norman
Middle school district
Norman
High school district
Norman
Directions
Take Hwy 9 E to 12 Ave SE and go South to Cedar Lane, then your first left onto Eagle Cliff Addition. Duplex is on the corner to your left.
Standard status
Active
APN
1001NONEMerlindr73072
Size
2,844 SF
Lot size
0.16 Acres
Taxes and HOA fees
HOA Fee
$125 Annually
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Electric
Amenities
yard maintenance
Building Details
Year built
2018
Floors in Building
1
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Flotilla Real Estate Partners
(405) 977-0207
Listed By:
Brandon Hart
(405) 990-4569
Added: Jul 28
Changed: Jul 29
Last Checked: Jul 31 at 9:06PM
MLS# 1241624
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.
This updated duplex includes two units at 1001 and 1003 Merlin Drive. Each unit offers a 3-bedroom, 2-bath layout with a 2-car garage, tall ceilings, and an open feel with a split configuration. The primary suite is positioned for added privacy, and large windows provide natural light throughout. Recent improvements include brand-new paint, modern fixtures, granite counters, and a 2022 water heater, along with ample storage via spacious closets and cabinet space.
The property is located in the Eagle Cliff addition in Norman and benefits from HOA coverage of yard maintenance. The listing also notes the area is close to OU as well as shopping, dining, and everyday conveniences.
With two identical-style residential units, the property is positioned as a straightforward duplex investment or rental option in a maintained, low-maintenance community setting.
The property is located in the Eagle Cliff addition in Norman and benefits from HOA coverage of yard maintenance. The listing also notes the area is close to OU as well as shopping, dining, and everyday conveniences.
With two identical-style residential units, the property is positioned as a straightforward duplex investment or rental option in a maintained, low-maintenance community setting.
Key Highlights
- Updated duplex built in 2018 with brick & frame construction
- Each unit has 3 bedrooms and 2 bathrooms, plus a 2‑car garage
- Central air cooling and natural gas heating; composition roof
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.2k | $13.80 |
| − Vacancy | −$2.4k | −$0.85 |
| EGI | $36.8k | $12.95 |
| − OpEx | −$11.0k | −$3.88 |
| NOI | $25.8k | $9.06 |
2,844 SF · lease $13.80/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$368.3K
$322.2K – $429.6K
NOI $25,778 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$338.5K
$296.2K – $394.9K
NOI $23,693 @ 7.0% cap · market cap 5.64%
Theoretical Best
Specialty Retail
$491.4K
$430.0K – $573.4K
NOI $34,401 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
120
Businesses Nearby
Explore this area
Business Placement
Demographics for 73072, OK
51,062
Population
20,915
Households
2.4
Avg Household Size
30
Median Age
53%
College-Educated
95%
High-School Grad
52.2 sq mi
ZIP Area
978
Density / Sq Mi
$76,933
Median Household Income
$32,892
Median Earnings
$1,102
Median Rent
$291,400
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 - Updated duplex features two units with 3 bedrooms, 2 bathrooms, and two-car garages.
Where is this duplex located?
The property is located at 1001 Merlin dr Norman, OK.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Updated duplex built in 2018 with brick & frame construction; Each unit has 3 bedrooms and 2 bathrooms, plus a 2‑car garage; Central air cooling and natural gas heating; composition roof
