Updated Two-Unit
For Sale
$265,000
1138 NW 42nd Street, Oklahoma City, OK 73118
The two-unit property combines existing rental occupancy with documented building improvements.
Property Size1,376 SF
Days on Market11
Property Features for 1138 NW 42nd Street
General Information
Standard status
Active
Size
1,376 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$2,481
Building Details
Building Size
1,376 SF
Year Built
1920
Buildings
1
Tenancy
Multi
Listing Agency:
Sage Sotheby's Realty
Listed By:
Stacia Ranallo · License #182003
(918) 671-6450
Source:
Stetsonbentley
Added: Oct 7
Changed: Oct 15
Last Checked: Oct 16 at 3:18PM
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 Sage Sotheby's Realty
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Investment Insights
Based on property information with market context.
This 1,376-square-foot duplex contains two apartments, each with one bedroom and one bathroom. One unit has been fully updated and is leased; the other has partial interior updates and is scheduled to be leased. Improvements include a roof installed in 2021, completed foundation work, new appliances, fresh paint in several areas, and a 2021 HVAC system serving one side.
The property is at 1138 NW 42nd St in Oklahoma City, with access to the city's districts. It is also described as available for purchase as a lot for possible new construction.
The property is at 1138 NW 42nd St in Oklahoma City, with access to the city's districts. It is also described as available for purchase as a lot for possible new construction.
Key Highlights
- Two 1‑bedroom, 1‑bath units
- 1,376 square feet
- New roof installed in 2021; foundation work completed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,561
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$251,220
$251.2K
Cap Rate 7%
$179,443
$179.4K
Cap Rate 9%
$139,567
$139.6K
Market Conditions
NOI Build-Up for 1,376 SF
Gross rent
$19.0K $13.80/SF
− Vacancy
−$1.0K −$0.76/SF
EGI
$17.9K $13.04/SF
− OpEx
−$5.4K −$3.91/SF
NOI
$12.6K $9.13/SF
Area
Oklahoma City, OK
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$251,220
Cap Rate 7%
$179,443
Cap Rate 9%
$139,567
Alternative Uses
Best Use
Multifamily LT 5
$179.4K
$157.0K – $209.4K
NOI $12,561 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$166.0K
$145.3K – $193.7K
NOI $11,623 @ 7.0% cap · market cap 4.39%
Theoretical Best
Specialty Retail
$470.6K
$411.8K – $549.0K
NOI $32,941 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
909
Businesses Nearby
Explore this area
Business Placement
Demographics for 73118, OK
13,521
Population
7,856
Households
1.7
Avg Household Size
37
Median Age
49%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
2,817
Density / Sq Mi
$69,321
Median Household Income
$45,494
Median Earnings
$1,064
Median Rent
$252,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The two-unit property combines existing rental occupancy with documented building improvements.
Where is this duplex located?
The property is located at 1138 NW 42nd Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bath units; 1,376 square feet; New roof installed in 2021; foundation work completed
