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    1239 Nickerson Waynoka, OK 73860

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    Claim this Listing
    For Sale
    Under Contract
    $79,000

    Package Single Fam House - Waynoka, OK

    Lot size:
    0.64 Acres
    Added:
    Dec 24, 2024
    Days on Market:
    498
    Last Refresh:
    May 6 at 1:06 am

    Property Features for 1239 Nickerson

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Carport, Garage, Paved or Surfaced
    Appliances
    Dishwasher, Garbage Disposer, Range, Refrigerator, Washer
    Standard status
    Active Under Contract
    Lot size
    0.64 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1080

    Utilities

    Heating system
    Central, Natural Gas
    Cooling system
    Central Air, Electric

    Building Details

    Floors in Building
    1
    Roof type
    Composition, Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Kyle Johnson
    Kyle Johnson

    Listing agent Kyle Johnson License #178860

    Listing office The Woodward Real Estate Co 1428 Oklahoma Ave, Woodward, OK

    Listing date Dec 24, 2024

    MLS# 20241892 Listing URL

    Copyright © 2026 Northwest Oklahoma Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Waynoka Bungalow Package Opportunity

    This property features three bungalow-style houses built in the 1920s, situated on four city lots totaling approximately 0.64 acres in Waynoka, Oklahoma. The properties offer rental possibilities in Northwestern Oklahoma. The first house, located at 1239 Nickerson, was built in 1920 and includes 2 bedrooms and 2 bathrooms, a metal roof, a large RV carport, and a spacious shop with room for multiple ATVs or four full-size vehicles. The second house, at 1227 Nickerson, was built in 1918 and contains 2 bedrooms and 1 bathroom, original hardwood floors, and a large storm shelter. This property may have Airbnb potential. The third house, at 1217 Nickerson, was built in 1924 and features 3 bedrooms and 2.5 bathrooms, along with ample garage space and an additional carport for storage. Two of the properties need roof repairs, and functional utilities are present in two of the three houses. An extra lot on the south end of the property could accommodate another house or shop. The contents of the properties are included in the sale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    L & M Computing Computer & Electronic Repair

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Nail Salon Gym & Fitness Center Auto Repair Shop HVAC Service Bar & Pub Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waynoka
    County
    Woods
    State
    Oklahoma
    Longitude
    -98.875749
    Latitude
    36.581563

    Nearby Similar for Sale

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    • $299,000
      14,000 SF

      Versatile Mixed-Use Income Property

      Income-producing mixed-use property with residence in downtown Waynoka, Oklahoma.
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    FAQs

    What type of property is this?
    Single family property - Three houses on multiple lots with rental and Airbnb potential.
    Where is this single family property located?
    The property is located at 1239 Nickerson Waynoka, OK.
    What is the asking price?
    The asking price for this property is $79,000.
    What are key features of this property?
    This property features: Three bungalow‑style houses on 4 city lots (.64 AC±) offering significant rental or development potential.; Large shop space at 1239 Nickerson, accommodating multiple ATVs or vehicles.; 1227 Nickerson features original hardwood floors and a large storm shelter.
    (580) 216-2415
    We can help!
    Listing Contact
    Kyle Johnson
    Kyle Johnson
    Real Estate License ID: 178860
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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