Two-Unit Duplex with Separate
For Sale
$267,900
1424 NW 33rd Street, Oklahoma City, OK 73118
Residential Income, Oklahoma City, OK
Property Size1,595 SF
Lot Size0.18 Acres
Price / SF$167.96
Days on Market125
Property Features for 1424 NW 33rd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1
Lot features
Interior Lot
Elementary school
Eugene Field ES
Middle school
Moon MS
High school
Douglass HS
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
From Classen blvd and NW 33rd, go West on NW 33rd. The 2 story duplex is on your left.
Standard status
Active
APN
1424NW33rd73118
Size
1,595 SF
Lot size
0.18 Acres
Utilities
Heating system
Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
1905
Floors in Building
2
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Spearhead Realty Group LLC
(405) 493-8144
Listed By:
Thao Nguyen-Pham · License #200060
(405) 514-0930
Added: Apr 21
Changed: Aug 21
Last Checked: Aug 23 at 11:06AM
MLS# 1225271
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 1,595-square-foot duplex contains two separate residences within a two-story, brick-and-frame structure built in 1905. The lower unit has two bedrooms and one full bathroom, while the upper unit provides one bedroom and one bathroom. Interior features include an updated kitchen with granite countertops and substantial storage. Each residence has its own electric meter, and the property includes central air conditioning and electric heat.
The property occupies 0.1837 acres at 1424 NW 33rd Street in Oklahoma City, within ZIP Code 73118. It carries R-2 residential zoning and has a composition roof. The ranch-style building is being offered in its existing condition.
The property occupies 0.1837 acres at 1424 NW 33rd Street in Oklahoma City, within ZIP Code 73118. It carries R-2 residential zoning and has a composition roof. The ranch-style building is being offered in its existing condition.
Key Highlights
- Two‑unit duplex with 1,595 square feet of building area
- Lower residence includes 2 bedrooms and 1 full bathroom
- Upper residence includes 1 bedroom and 1 bathroom
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
$14,560
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
5.43%
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%
$291,200
$291.2K
Cap Rate 7%
$208,000
$208.0K
Cap Rate 9%
$161,778
$161.8K
Market Conditions
NOI Build-Up for 1,595 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
$22.0K $13.80/SF
− Vacancy
−$1.2K −$0.76/SF
EGI
$20.8K $13.04/SF
− OpEx
−$6.2K −$3.91/SF
NOI
$14.6K $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%
$291,200
Cap Rate 7%
$208,000
Cap Rate 9%
$161,778
Alternative Uses
Best Use
Multifamily LT 5
$208.0K
$182.0K – $242.7K
NOI $14,560 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$192.5K
$168.4K – $224.5K
NOI $13,472 @ 7.0% cap · market cap 5.03%
Theoretical Best
Specialty Retail
$545.5K
$477.3K – $636.4K
NOI $38,184 @ 7.0% cap · market cap 14.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
718
Businesses Nearby
Explore this area
Business Placement
Demographics for 73118, OK
13,521
Population
7,856
Households
1.7
Avg Household Size
37
Median Age
49%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
2,817
Density / Sq Mi
$69,321
Median Household Income
$45,494
Median Earnings
$1,064
Median Rent
$252,500
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 - R-2 zoning and independent electric metering support distinct residential units.
Where is this duplex located?
The property is located at 1424 NW 33rd Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $267,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,595 square feet of building area; Lower residence includes 2 bedrooms and 1 full bathroom; Upper residence includes 1 bedroom and 1 bathroom
