Updated Multifamily
For Sale
$124,900
1113 Swan Lake Road, Edmond, OK 73003
Well-maintained rental property with recent interior and mechanical improvements, no HOA, and an as-is sale structure.
Property Size1,161 SF
Days on Market35
Property Features for 1113 Swan Lake Road
General Information
Standard status
Active
Size
1,161 SF
Property subtype
Half Duplex
Taxes and HOA fees
Annual Taxes
$1,451
Building Details
Building Size
1,161 SF
Year Built
1983
Listing Agency:
CityGates Real Estate LLC
(405) 412-8369
Listed By:
Brooke Bale
Source:
Stetsonbentley
Added: Jul 6
Changed: Aug 2
Last Checked: Aug 8 at 9:44AM
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 CityGates Real Estate LLC
Investment Insights
Based on property information with market context.
This 1983 half-duplex in Edmond’s Swan Lake neighborhood offers a three-bedroom, two-bath residential layout suited to rental use or an investment hold. Recent work includes LVP flooring, interior paint completed in 2026, a 2026 water heater, an updated bathroom, and an Ameristar AC condenser installed in 2025. The property is offered as-is and has no HOA.
Located at 1113 Swan Lake Road, the home provides a straightforward multifamily format for buyers seeking a smaller residential income asset. The seller can provide disclosures and a recent roofing quote upon request. Cash and conventional financing are accepted, and the owner is a licensed real estate broker in Oklahoma.
Located at 1113 Swan Lake Road, the home provides a straightforward multifamily format for buyers seeking a smaller residential income asset. The seller can provide disclosures and a recent roofing quote upon request. Cash and conventional financing are accepted, and the owner is a licensed real estate broker in Oklahoma.
Key Highlights
- Three‑bedroom, two‑bath half‑duplex built in 1983
- Interior paint and water heater completed in 2026
- Ameristar AC condenser installed in 2025
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
$7,387
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
5.91%
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%
$147,740
$147.7K
Cap Rate 7%
$105,529
$105.5K
Cap Rate 9%
$82,078
$82.1K
Market Conditions
NOI Build-Up for 1,161 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
$14.9K $12.84/SF
− Vacancy
−$1.5K −$1.27/SF
EGI
$13.4K $11.57/SF
− OpEx
−$6.0K −$5.21/SF
NOI
$7.4K $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%
$147,740
Cap Rate 7%
$105,529
Cap Rate 9%
$82,078
Alternative Uses
Best Use
Apartment 5plus
$105.5K
$92.3K – $123.1K
NOI $7,387 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$241.8K
$211.6K – $282.1K
NOI $16,927 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Explore this area
Business Placement
Demographics for 73003, OK
22,648
Population
9,760
Households
2.3
Avg Household Size
36
Median Age
42%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
3,061
Density / Sq Mi
$76,957
Median Household Income
$45,176
Median Earnings
$1,338
Median Rent
$230,000
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?
Multifamily property - Well-maintained rental property with recent interior and mechanical improvements, no HOA, and an as-is sale structure.
Where is this multifamily property located?
The property is located at 1113 Swan Lake Road Edmond, OK.
What is the asking price?
The asking price for this property is $124,900.
What are key features of this property?
This property features: Three‑bedroom, two‑bath half‑duplex built in 1983; Interior paint and water heater completed in 2026; Ameristar AC condenser installed in 2025
