Updated Duplex Investment
New
For Sale
$219,500
114 Ashley Dr, Edmond, OK 73003
Half-duplex property with updated flooring, a gas range, microwave, and dishwasher.
Property Size1,225 SF
Price / SF$179.18
Days on Market2
Property Features for 114 Ashley Dr
General Information
Standard status
Active
Size
1,225 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
2015
Buildings
1
Listing Agency:
Pam Robinson Real Estate
(405) 382-7653
Listed By:
Homestead & Co
(405) 509-0541
Source:
Homesteadrealtyco
Added: Sep 6
Last Checked: Sep 7 at 7:24AM
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 Pam Robinson Real Estate
Investment Insights
Based on property information with market context.
This residential income property is a half-duplex built in 2015 and is being sold in conjunction with 212 Ashley Drive. Interior updates include flooring, a gas range, microwave, and dishwasher. Both sides are occupied with varying lease expiration dates.
The property is near schools and dining, with the University of Central Oklahoma approximately 3 miles away. Several additional duplexes on the same street may also be available for purchase, offering a broader acquisition option for interested buyers.
The property is near schools and dining, with the University of Central Oklahoma approximately 3 miles away. Several additional duplexes on the same street may also be available for purchase, offering a broader acquisition option for interested buyers.
Key Highlights
- Half‑duplex sold in conjunction with 212 Ashley Drive
- Built in 2015
- Both sides occupied with varying lease expiration dates
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
$7,795
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
3.55%
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%
$155,900
$155.9K
Cap Rate 7%
$111,357
$111.4K
Cap Rate 9%
$86,611
$86.6K
Market Conditions
NOI Build-Up for 1,225 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
$15.7K $12.84/SF
− Vacancy
−$1.6K −$1.27/SF
EGI
$14.2K $11.57/SF
− OpEx
−$6.4K −$5.21/SF
NOI
$7.8K $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%
$155,900
Cap Rate 7%
$111,357
Cap Rate 9%
$86,611
Alternative Uses
Best Use
Apartment 5plus
$111.4K
$97.4K – $129.9K
NOI $7,795 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$255.1K
$223.3K – $297.7K
NOI $17,860 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
481
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Half-duplex property with updated flooring, a gas range, microwave, and dishwasher.
Where is this residential income property located?
The property is located at 114 Ashley Dr Edmond, OK.
What is the asking price?
The asking price for this property is $219,500.
What are key features of this property?
This property features: Half‑duplex sold in conjunction with 212 Ashley Drive; Built in 2015; Both sides occupied with varying lease expiration dates
