Residential Income Property with
For Sale
$138,500
14227 S Hickory Place, Glenpool, OK 74033
1983-built residential property with central air, natural gas service, and an attached garage.
Property Size990 SF
Price / SF$139.90
Days on Market47
Property Features for 14227 S Hickory Place
General Information
Standard status
Active
Size
990 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,266
Amenities
Central Air
Natural Gas, Central
Dishwasher, Disposal, Gas Water Heater, Oven, Range
Laminate Counters, Ceiling Fan(s)
Privacy
Attached, Garage
Building Details
Building Size
990 SF
Year Built
1983
Stories
1
Listing Agency:
Realty Network
(918) 291-4560
Listed By:
Carrie L Wasson
(918) 291-4560
Source:
Evrealestate
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 31 at 2:16PM
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 Realty Network
Investment Insights
Based on property information with market context.
This residential income property was built in 1983 and includes central air, central natural gas service, and an attached garage. Interior features include laminate counters, ceiling fans, a dishwasher, disposal, gas water heater, oven, and range. Privacy is also listed among the exterior features.
The property is located in Glenpool, Oklahoma, within Tulsa County. The stated approach begins at Highway 75 and 141st Street before continuing through the local street network to S. Hickory Place.
The property is located in Glenpool, Oklahoma, within Tulsa County. The stated approach begins at Highway 75 and 141st Street before continuing through the local street network to S. Hickory Place.
Key Highlights
- Built in 1983
- 990 property size
- Central air and central natural gas service
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
$7,686
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
5.55%
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%
$153,720
$153.7K
Cap Rate 7%
$109,800
$109.8K
Cap Rate 9%
$85,400
$85.4K
Market Conditions
NOI Build-Up for 990 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
$15.2K $15.36/SF
− Vacancy
−$1.2K −$1.24/SF
EGI
$14.0K $14.12/SF
− OpEx
−$6.3K −$6.35/SF
NOI
$7.7K $7.76/SF
Area
Tulsa County, OK
Vacancy
8.10%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$153,720
Cap Rate 7%
$109,800
Cap Rate 9%
$85,400
Alternative Uses
Best Use
Apartment 5plus
$109.8K
$96.1K – $128.1K
NOI $7,686 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$223.1K
$195.2K – $260.3K
NOI $15,618 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Explore this area
Business Placement
Demographics for 74033, OK
13,254
Population
4,868
Households
2.7
Avg Household Size
34
Median Age
25%
College-Educated
91%
High-School Grad
12.3 sq mi
ZIP Area
1,078
Density / Sq Mi
$77,306
Median Household Income
$43,382
Median Earnings
$1,292
Median Rent
$194,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - 1983-built residential property with central air, natural gas service, and an attached garage.
Where is this residential income property located?
The property is located at 14227 S Hickory Place Glenpool, OK.
What is the asking price?
The asking price for this property is $138,500.
What are key features of this property?
This property features: Built in 1983; 990 property size; Central air and central natural gas service
