Duplex with Vaulted
For Sale
$299,000
Pending
1128 S Xanthus Avenue, Tulsa, OK 74104
Residential, Tulsa, OK
Property Size1,232 SF
Lot Size0.11 Acres
Days on Market50
Property Features for 1128 S Xanthus Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1
Window features
Aluminum Frames
Patio and Porch features
Porch
Interior features
Vaulted Ceiling
Appliances
Dishwasher, Disposal, Microwave, Range/Oven, Refrigerator
Subdivision
Ridgedale Terrace II
Elementary school
Kendall Whittier
Middle school
Hale
High school
Rogers
Elementary school district
Tulsa - Sch Dist (1)
Middle school district
Tulsa - Sch Dist (1)
High school district
Tulsa - Sch Dist (1)
Directions
Route via E 11th St / Historic Route 66Head south on S Tucker Dr toward E 11th St.Turn right (West) onto E 11th St / U.S. Route 66.Continue straight on E 11th St for 1.1 miles. (You will pass S Lewis Ave and S Utica Ave).Turn left (South) onto S Xanthus Ave.Arrive at 1128 S Xanthus Ave on your right.
Standard status
Pending
APN
35125-93-07-16510
Size
1,232 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LT 25 BLK 2
Tax Annual Amount
737
Legal Description
LT 25 BLK 2
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1925
Floors in Building
1
Flooring type
Laminate
Building materials
Wood Frame
Roof type
Fiberglass
Listing Agency:
eXp Realty, LLC
(405) 404-1924
Listed By:
Christopher Watchorn
(937) 409-2016
Added: Jul 3
Changed: Aug 19
Last Checked: Aug 21 at 6:06PM
MLS# 2624384
Copyright © 2026 MLS Technology, 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 remodeled duplex is configured as a short-term rental and described as rent-ready with updated finishes on both sides. The property includes a wood-frame structure with vaulted ceilings and laminate flooring. Interior features also include a porch.
Built in 1925, the duplex is approximately 1,232 SF on a 0.106-acre lot. It has central heating and central air conditioning, and a fiberglass roof. Kitchen and in-unit appliance features listed include a dishwasher, disposal, microwave, range/oven, and refrigerator.
Located at 1128 S Xanthus Avenue in Tulsa (74104), the property is described as just minutes from major family attractions and destinations including the Gathering Place, Discovery Lab, Tulsa Zoo, and The University of Tulsa (UTulsa) campus.
Built in 1925, the duplex is approximately 1,232 SF on a 0.106-acre lot. It has central heating and central air conditioning, and a fiberglass roof. Kitchen and in-unit appliance features listed include a dishwasher, disposal, microwave, range/oven, and refrigerator.
Located at 1128 S Xanthus Avenue in Tulsa (74104), the property is described as just minutes from major family attractions and destinations including the Gathering Place, Discovery Lab, Tulsa Zoo, and The University of Tulsa (UTulsa) campus.
Key Highlights
- Remodeled duplex set up for short‑term rental use and described as rent‑ready
- Built in 1925 with a wood‑frame construction and fiberglass roof
- ~1,232 SF on a 0.106‑acre lot
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
$12,001
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
4.01%
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%
$240,020
$240.0K
Cap Rate 7%
$171,443
$171.4K
Cap Rate 9%
$133,344
$133.3K
Market Conditions
NOI Build-Up for 1,232 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
$18.9K $15.36/SF
− Vacancy
−$1.8K −$1.44/SF
EGI
$17.1K $13.92/SF
− OpEx
−$5.1K −$4.17/SF
NOI
$12.0K $9.74/SF
Area
Tulsa, OK
Vacancy
9.40%
Lease Rate
$15.36 /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%
$240,020
Cap Rate 7%
$171,443
Cap Rate 9%
$133,344
Alternative Uses
Best Use
Multifamily LT 5
$171.4K
$150.0K – $200.0K
NOI $12,001 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$157.0K
$137.4K – $183.2K
NOI $10,989 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$262.8K
$229.9K – $306.6K
NOI $18,394 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,369
Businesses Nearby
Explore this area
Business Placement
Demographics for 74104, OK
12,395
Population
6,367
Households
1.9
Avg Household Size
31
Median Age
46%
College-Educated
90%
High-School Grad
2.7 sq mi
ZIP Area
4,591
Density / Sq Mi
$51,886
Median Household Income
$30,951
Median Earnings
$1,109
Median Rent
$224,500
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 - Remodeled Tulsa duplex configured for short-term rental use with central HVAC and a porch.
Where is this duplex located?
The property is located at 1128 S Xanthus Avenue Tulsa, OK.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Remodeled duplex set up for short‑term rental use and described as rent‑ready; Built in 1925 with a wood‑frame construction and fiberglass roof; ~1,232 SF on a 0.106‑acre lot
