Duplex with
For Sale
$225,000
1405 Pennington Ave, Edmond, OK 73012
Each residence has a private garage and fenced backyard, with one unit currently rented month to month.
Property Size2,136 SF
Price / SF$105.34
Days on Market18
Property Features for 1405 Pennington Ave
General Information
Standard status
Active
Size
2,136 SF
Total Parking Spaces
2
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
cosmetic repairs it needs and a minor foundation issue
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Amenities
fenced backyards
Listing Agency:
Homestead + Co
(405) 509-0541
Listed By:
Tyler Weinrich · License #170512
(405) 641-7659
Source:
Exprealty
Added: Oct 20
Changed: Oct 28
Last Checked: Nov 4 at 1:38PM
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 Homestead + Co
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Edmond duplex contains two residences, each with 2 bedrooms, 2 bathrooms, 1,068 square feet, and a one-car garage. Both units have fenced backyards. The property is offered as-is and needs cosmetic repairs; the vacant residence at 1405 Pennington Ave also has a minor foundation issue.
The occupied unit at 1407 Pennington Ave is rented month to month. The roof dates to 2016. HVAC systems were installed in 2019 at 1407 and in 2016 at 1405. The water heater at 1407 is operational, though its age is unknown; the water heater at 1405 dates to 2006.
The occupied unit at 1407 Pennington Ave is rented month to month. The roof dates to 2016. HVAC systems were installed in 2019 at 1407 and in 2016 at 1405. The water heater at 1407 is operational, though its age is unknown; the water heater at 1405 dates to 2006.
Key Highlights
- Two residences, each with 2 bedrooms, 2 bathrooms and 1,068 square feet
- One‑car garage and fenced backyard at each residence
- 1407 Pennington Ave is rented month to month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,591
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$271,820
$271.8K
Cap Rate 7%
$194,157
$194.2K
Cap Rate 9%
$151,011
$151.0K
Market Conditions
NOI Build-Up for 2,136 SF
Gross rent
$27.4K $12.84/SF
− Vacancy
−$2.7K −$1.27/SF
EGI
$24.7K $11.57/SF
− OpEx
−$11.1K −$5.21/SF
NOI
$13.6K $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%
$271,820
Cap Rate 7%
$194,157
Cap Rate 9%
$151,011
Alternative Uses
Best Use
Apartment 5plus
$194.2K
$169.9K – $226.5K
NOI $13,591 @ 7.0% cap · market cap 6.04%
Second Best
Multifamily LT 5
$185.4K
$162.2K – $216.3K
NOI $12,978 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$444.9K
$389.3K – $519.0K
NOI $31,142 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Explore this area
Business Placement
Demographics for 73012, OK
41,289
Population
16,172
Households
2.6
Avg Household Size
34
Median Age
56%
College-Educated
97%
High-School Grad
34.1 sq mi
ZIP Area
1,211
Density / Sq Mi
$123,528
Median Household Income
$59,000
Median Earnings
$1,779
Median Rent
$295,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has a private garage and fenced backyard, with one unit currently rented month to month.
Where is this duplex located?
The property is located at 1405 Pennington Ave Edmond, OK.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms, 2 bathrooms and 1,068 square feet; One‑car garage and fenced backyard at each residence; 1407 Pennington Ave is rented month to month
