Renovated Condo with Modern
For Sale
$140,000
11140 Stratford Drive #612 Oklahoma, Oklahoma City, OK 73120
Move-in ready, renovated 2-bed, 2-bath condo with community perks.
Property Size1,180 SF
Price / SF$118.64
Days on Market365
Property Features for 11140 Stratford Drive #612 Oklahoma
General Information
Standard status
Active
Size
1,180 SF
Property subtype
Condominium
Taxes and HOA fees
Annual Taxes
$3,048
Amenities
Fireplace
Central Electric
Central Elec
Dishwasher
Microwave
Refrigerator
Washer/Dryer
Water Heater
Deck, Patio, Porch, Public
Building Details
Building Size
1,180 SF
Year Built
1985
Listing Agency:
Salt Real Estate Inc
(405) 513-3039
Listed By:
Brian Jamison · License #184931
Source:
Kw
Added: Aug 12, 2025
Changed: Aug 8
Last Checked: Jul 16 at 8:03AM
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 Salt Real Estate Inc
Investment Insights
Based on property information with market context.
This renovated condo features two bedrooms and two bathrooms. The property has been fully renovated with new flooring, fresh paint, updated trim, modern lighting, targeted electrical updates, and a contemporary fireplace. The updated kitchen includes painted cabinetry, granite counters, subway-tile backsplash, new appliances, and a granite window ledge in the front room. Both bathrooms have been refreshed with new vanities, plumbing fixtures, and stylish finishes; the downstairs bathroom features a walk-in shower, while the upstairs bathroom offers a shower/tub. Additional upgrades include a new front door, new storm door, new washer & dryer, and new carpet on the stairs and second level. The air ducts have been cleaned and the AC serviced. Community amenities include optional covered parking for $30 per month. The HOA fee of $254 per month covers exterior maintenance, master insurance, common-area upkeep, sprinklers/lawn care, access to two pools, gated entry, water, and trash services. The complex is equipped with cameras and night security patrols.
Key Highlights
- Fully renovated 2‑bed, 2‑bath condo with lasting quality upgrades.
- Move‑in ready condition with new flooring, paint, kitchen, and bathrooms.
- HOA covers exterior maintenance, insurance, water, trash, lawn care, and two pools.
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
$9,904
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
7.07%
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%
$198,080
$198.1K
Cap Rate 7%
$141,486
$141.5K
Cap Rate 9%
$110,044
$110.0K
Market Conditions
NOI Build-Up for 1,180 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
$19.1K $16.20/SF
− Vacancy
−$1.1K −$0.94/SF
EGI
$18.0K $15.26/SF
− OpEx
−$8.1K −$6.87/SF
NOI
$9.9K $8.39/SF
Area
ZIP 73120
Vacancy
5.80%
Lease Rate
$16.20 /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%
$198,080
Cap Rate 7%
$141,486
Cap Rate 9%
$110,044
Alternative Uses
Best Use
Apartment 5plus
$141.5K
$123.8K – $165.1K
NOI $9,904 @ 7.0% cap · market cap 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$284.0K
$248.5K – $331.4K
NOI $19,881 @ 7.0% cap · market cap 14.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Explore this area
Business Placement
Demographics for 73120, OK
36,530
Population
20,356
Households
1.8
Avg Household Size
38
Median Age
48%
College-Educated
96%
High-School Grad
11.0 sq mi
ZIP Area
3,321
Density / Sq Mi
$62,942
Median Household Income
$45,333
Median Earnings
$1,045
Median Rent
$227,600
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?
Apartment building - Move-in ready, renovated 2-bed, 2-bath condo with community perks.
Where is this apartment building located?
The property is located at 11140 Stratford Drive #612 Oklahoma Oklahoma City, OK.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Fully renovated 2‑bed, 2‑bath condo with lasting quality upgrades.; Move‑in ready condition with new flooring, paint, kitchen, and bathrooms.; HOA covers exterior maintenance, insurance, water, trash, lawn care, and two pools.
