Listing Agency: Metro First Realty of Edmond

Listed By: Kimi George Show Phone

Source: Sarahflemingestates

Added: Jul 28 Changed: Sep 18 Last Checked: Oct 7 at 5:12PM

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Investment Insights

Based on property information with market context.

This 3,100-square-foot duplex is a new-build residential income property with two separately configured units. Each unit includes 4 bedrooms and 3 bathrooms, along with quartz countertops, stainless steel appliances, and LVT flooring. The property is served entirely by electric systems and was designed with energy efficiency in mind.

Located at 9 N State St in Edmond, the duplex is west of Downtown Edmond and near the University of Central Oklahoma. The property has no HOA, adding flexibility for ownership and operation. Its unit layout and proximity to the university support the student-oriented and small-household use described for the property.

Key Highlights

• New‑build 3,100‑square‑foot duplex
• Two units, each with 4 bedrooms and 3 bathrooms
• Quartz countertops, stainless steel appliances, and LVT flooring

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,725

Cap Rate

3.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$394,500 $394.5K

Cap Rate 7%

$281,786 $281.8K

Cap Rate 9%

$219,167 $219.2K

Market Conditions

NOI Build-Up for 3,100 SF

Gross rent

$39.8K $12.84/SF

− Vacancy

−$3.9K −$1.27/SF

EGI

$35.9K $11.57/SF

− OpEx

−$16.1K −$5.21/SF

NOI

$19.7K $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 Rate 5%

$394,500

Cap Rate 7%

$281,786

Cap Rate 9%

$219,167

Alternative Uses

Best Use

Apartment 5plus

$281.8K

$246.6K – $328.8K (±1% cap)

NOI $19,725 @ 7.0% cap · market cap 3.95%

Second Best

Multifamily LT 5

$269.1K

$235.5K – $313.9K (±1% cap)

NOI $18,836 @ 7.0% cap · market cap 3.77%

Theoretical Best

Office A

$645.7K

$565.0K – $753.3K (±1% cap)

NOI $45,197 @ 7.0% cap · market cap 9.06%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Carpet & Flooring Store (Bike/Boat/Book/etc) Store Catering Service Travel Agency Florist Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

1,201

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

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two residential units feature quartz countertops, stainless steel appliances, LVT flooring, and all-electric systems.

Where is this duplex located?

The property is located at 9 N State St Edmond, OK.

What is the asking price?

The asking price for this property is $499,000.

What are key features of this property?

This property features: New‑build 3,100‑square‑foot duplex; Two units, each with 4 bedrooms and 3 bathrooms; Quartz countertops, stainless steel appliances, and LVT flooring