Duplex with Wood
New
For Sale
$400,000
1414 N Drexel Boulevard, Oklahoma City, OK 73107
Residential Income, Oklahoma City, OK
Property Size3,208 SF
Lot Size0.18 Acres
Price / SF$124.69
Days on Market2
Property Features for 1414 N Drexel Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Lot features
Interior Lot
Elementary school
Hawthorne ES
Middle school
Taft MS
High school
Northwest Classen HS
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
From 23rd St take Drexel Blvd south to home.
Standard status
Active
APN
1414NDrexel73107
Size
3,208 SF
Lot size
0.18 Acres
Building Details
Year built
1930
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
McGraw Davisson Stewart LLC(BO
(405) 735-3977
Listed By:
Jennifer Elliston
(405) 746-0040
Added: Sep 1
Last Checked: Sep 2 at 6:06PM
MLS# 1246120
Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,208-square-foot duplex, built in 1930, features brick and frame construction with wood flooring throughout. Each residence includes a generous living room, a dedicated dining area, a breakfast nook, and a kitchen equipped with a refrigerator, gas stove, and dishwasher. Central heat and air serve both units, while interior laundry rooms add functional convenience. Each unit also has its own one-car garage.
The property is near the State Fairgrounds and OSU-OKC, with shopping, dining, and highway access in the surrounding area. Current tenants occupy the units, and showings require one full day of advance notice.
The property is near the State Fairgrounds and OSU-OKC, with shopping, dining, and highway access in the surrounding area. Current tenants occupy the units, and showings require one full day of advance notice.
Key Highlights
- 3,208‑square‑foot duplex on a 0.18‑acre lot
- Built in 1930 with brick and frame construction
- Wood flooring throughout both units
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
$29,285
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
7.32%
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%
$585,700
$585.7K
Cap Rate 7%
$418,357
$418.4K
Cap Rate 9%
$325,389
$325.4K
Market Conditions
NOI Build-Up for 3,208 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
$44.3K $13.80/SF
− Vacancy
−$2.4K −$0.76/SF
EGI
$41.8K $13.04/SF
− OpEx
−$12.6K −$3.91/SF
NOI
$29.3K $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%
$585,700
Cap Rate 7%
$418,357
Cap Rate 9%
$325,389
Alternative Uses
Best Use
Multifamily LT 5
$418.4K
$366.1K – $488.1K
NOI $29,285 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$387.1K
$338.7K – $451.6K
NOI $27,097 @ 7.0% cap · market cap 6.77%
Theoretical Best
Specialty Retail
$1.10M
$960.0K – $1.28M
NOI $76,800 @ 7.0% cap · market cap 19.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Explore this area
Business Placement
Demographics for 73107, OK
26,318
Population
12,621
Households
2.1
Avg Household Size
34
Median Age
31%
College-Educated
80%
High-School Grad
7.6 sq mi
ZIP Area
3,463
Density / Sq Mi
$58,428
Median Household Income
$38,753
Median Earnings
$1,014
Median Rent
$143,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with individual garages, interior laundry rooms, and central heating and air conditioning.
Where is this duplex located?
The property is located at 1414 N Drexel Boulevard Oklahoma City, OK.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 3,208‑square‑foot duplex on a 0.18‑acre lot; Built in 1930 with brick and frame construction; Wood flooring throughout both units
