Updated Duplex with Garage
For Sale
$149,900
1200 NE 19th Street, Oklahoma City, OK 73111
Two-unit residential property with renovated interiors and an occupied secondary residence.
Property Size873 SF
Days on Market75
Property Features for 1200 NE 19th Street
General Information
Standard status
Active
Size
873 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,243
Building Details
Building Size
873 SF
Year Built
1924
Year Renovated
2016
Units
2
Tenancy
Multi
Listing Agency:
CityGates Real Estate LLC
(405) 412-8369
Listed By:
Brooke Bale
(405) 412-8369
Source:
Capitalrealestateok
Added: May 27
Changed: Aug 8
Last Checked: Aug 8 at 11:48AM
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 CityGates Real Estate LLC
Investment Insights
Based on property information with market context.
This documented duplex includes a main unit measuring approximately 1,042 sqft and a separate garage apartment measuring approximately 396 sqft. The main unit features granite kitchen counters, hardwood floors, fresh paint, and updated bathrooms. County records indicate the property was remodeled in 2016 and built in 1924.
The garage apartment is currently leased to a Section 8 tenant through the Oklahoma City Housing Authority, with a portion of rent paid by OCHA. The main unit was previously leased. The property is located at 1200 NE 19th Street in Oklahoma City, with two separate residential units that can support an owner-occupant arrangement or continued rental use, subject to buyer and lender verification.
The garage apartment is currently leased to a Section 8 tenant through the Oklahoma City Housing Authority, with a portion of rent paid by OCHA. The main unit was previously leased. The property is located at 1200 NE 19th Street in Oklahoma City, with two separate residential units that can support an owner-occupant arrangement or continued rental use, subject to buyer and lender verification.
Key Highlights
- Documented duplex with 2 residential units
- Main unit: approx. 1,042 sqft per county records
- Separate garage apartment: approx. 396 sqft per county records
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
$7,969
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
5.32%
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%
$159,380
$159.4K
Cap Rate 7%
$113,843
$113.8K
Cap Rate 9%
$88,544
$88.5K
Market Conditions
NOI Build-Up for 873 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
$12.0K $13.80/SF
− Vacancy
−$663 −$0.76/SF
EGI
$11.4K $13.04/SF
− OpEx
−$3.4K −$3.91/SF
NOI
$8.0K $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 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%
$159,380
Cap Rate 7%
$113,843
Cap Rate 9%
$88,544
Alternative Uses
Best Use
Multifamily LT 5
$113.8K
$99.6K – $132.8K
NOI $7,969 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$105.3K
$92.2K – $122.9K
NOI $7,374 @ 7.0% cap · market cap 4.92%
Theoretical Best
Specialty Retail
$298.6K
$261.3K – $348.3K
NOI $20,900 @ 7.0% cap · market cap 13.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
Explore this area
Business Placement
Demographics for 73111, OK
11,451
Population
5,670
Households
2
Avg Household Size
42
Median Age
19%
College-Educated
86%
High-School Grad
8.6 sq mi
ZIP Area
1,332
Density / Sq Mi
$39,739
Median Household Income
$30,159
Median Earnings
$941
Median Rent
$109,500
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 - Two-unit residential property with renovated interiors and an occupied secondary residence.
Where is this duplex located?
The property is located at 1200 NE 19th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Documented duplex with 2 residential units; Main unit: approx. 1,042 sqft per county records; Separate garage apartment: approx. 396 sqft per county records
