Two-Unit Duplex with
For Sale
$315,000
Pending
116 Nw 31st St, Oklahoma City, OK 73105
Separate residences offer private entries, outdoor space, and flexible owner-occupancy or rental use.
Property Size1,968 SF
Days on Market70
Property Features for 116 Nw 31st St
General Information
Standard status
Pending
Size
1,968 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
1
Listing Agency:
eXp Realty, LLC
(888) 560-3964
Listed By:
Hilary Miller
(405) 208-2123
Source:
Exprealty
Added: Aug 14
Changed: Oct 9
Last Checked: Oct 20 at 10:44PM
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 eXp Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 1930, this duplex includes two distinct residences at 116 and 118 NW 31st Street. Each unit contains 2 bedrooms and 1 full bathroom, with a private entrance, outdoor space, and 1 garage space per unit. The configuration supports living in one side while leasing the other, leasing both units, or accommodating multi-generational living.
The property is in Edgemere Park in central Oklahoma City, near the Health Science Center, State Capitol campus, Uptown 23rd, Plaza District, Asian District, Midtown, and Downtown OKC. Restaurants, coffee shops, nightlife, sporting events, shopping, medical centers, universities, and major employers are identified nearby. Access to I-235, I-44, and I-40 further connects the property with surrounding employment and activity centers.
The property is in Edgemere Park in central Oklahoma City, near the Health Science Center, State Capitol campus, Uptown 23rd, Plaza District, Asian District, Midtown, and Downtown OKC. Restaurants, coffee shops, nightlife, sporting events, shopping, medical centers, universities, and major employers are identified nearby. Access to I-235, I-44, and I-40 further connects the property with surrounding employment and activity centers.
Key Highlights
- Two‑unit duplex at 116 and 118 NW 31st Street
- Each unit includes 2 bedrooms and 1 full bathroom
- Private entrance for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,965
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,300
$359.3K
Cap Rate 7%
$256,643
$256.6K
Cap Rate 9%
$199,611
$199.6K
Market Conditions
NOI Build-Up for 1,968 SF
Gross rent
$27.2K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$25.7K $13.04/SF
− OpEx
−$7.7K −$3.91/SF
NOI
$18.0K $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%
$359,300
Cap Rate 7%
$256,643
Cap Rate 9%
$199,611
Alternative Uses
Best Use
Multifamily LT 5
$256.6K
$224.6K – $299.4K
NOI $17,965 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$237.5K
$207.8K – $277.1K
NOI $16,623 @ 7.0% cap · market cap 5.28%
Theoretical Best
Specialty Retail
$673.1K
$588.9K – $785.2K
NOI $47,114 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
916
Businesses Nearby
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Business Placement
Demographics for 73105, OK
5,835
Population
3,416
Households
1.7
Avg Household Size
35
Median Age
39%
College-Educated
94%
High-School Grad
4.5 sq mi
ZIP Area
1,297
Density / Sq Mi
$48,314
Median Household Income
$32,614
Median Earnings
$1,091
Median Rent
$162,800
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 - Separate residences offer private entries, outdoor space, and flexible owner-occupancy or rental use.
Where is this duplex located?
The property is located at 116 Nw 31st St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Two‑unit duplex at 116 and 118 NW 31st Street; Each unit includes 2 bedrooms and 1 full bathroom; Private entrance for each residence
