Modern Duplex Income
For Sale
$250,000
Pending
1509 N Hartford Street, Stillwater, OK 74075
MULTI_FAMILY - Modern - Stillwater, OK
Property Size1,946 SF
Lot Size0.23 Acres
Days on Market48
Property Features for 1509 N Hartford Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 4
Parking
2
Appliances
Dryer, Refrigerator, Washer
Lot features
Interior Lot
Elementary school
Skyline ES
Middle school
Stillwater JHS
High school
Stillwater HS
Elementary school district
Stillwater
Middle school district
Stillwater
High school district
Stillwater
Directions
From Perkins Rd. & Lakeview Rd., go west on Lakeview, north on Hartford to property. Property is on the right at 1509 N Hartford.
Standard status
Pending
APN
1509NHartford1509&151174075
Size
1,946 SF
Lot size
0.23 Acres
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Electric
Building Details
Year built
1972
Floors in Building
1
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Modern
Listing Agency:
C21/Judge Fite Guthrie · Century 21 Real Estate
(405) 282-7000
Listed By:
LaMoyne Hardin
(405) 740-4900
Added: Jul 13
Changed: Aug 4
Last Checked: Aug 29 at 4:06AM
MLS# 1238345
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 modern duplex includes two fully leased 2-bedroom, 1-bath units. Each unit features a spacious living area and a functional kitchen, along with comfortable bedrooms. The property also includes a shared garage, and recent updates with consistent maintenance support a turnkey condition.
The duplex is located at 1509 & 1511 N Hartford Street in Stillwater, Oklahoma (Payne County). The address places the property near shopping, restaurants, schools, and Oklahoma State University.
With two income-producing units in place, the offering provides a straightforward residential income configuration for an investor or buyer looking for an actively leased duplex.
The duplex is located at 1509 & 1511 N Hartford Street in Stillwater, Oklahoma (Payne County). The address places the property near shopping, restaurants, schools, and Oklahoma State University.
With two income-producing units in place, the offering provides a straightforward residential income configuration for an investor or buyer looking for an actively leased duplex.
Key Highlights
- Duplex with two fully leased 2‑bedroom, 1‑bath units at 1509 & 1511 N Hartford
- Shared garage included with both units
- Brick & frame construction with modern architectural style
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
$14,979
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
5.99%
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%
$299,580
$299.6K
Cap Rate 7%
$213,986
$214.0K
Cap Rate 9%
$166,433
$166.4K
Market Conditions
NOI Build-Up for 1,946 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
$23.8K $12.24/SF
− Vacancy
−$2.4K −$1.24/SF
EGI
$21.4K $11.00/SF
− OpEx
−$6.4K −$3.30/SF
NOI
$15.0K $7.70/SF
Area
Payne County, OK
Vacancy
10.16%
Lease Rate
$12.24 /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%
$299,580
Cap Rate 7%
$213,986
Cap Rate 9%
$166,433
Alternative Uses
Best Use
Multifamily LT 5
$214.0K
$187.2K – $249.7K
NOI $14,979 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$198.3K
$173.5K – $231.3K
NOI $13,878 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$478.5K
$418.7K – $558.3K
NOI $33,498 @ 7.0% cap · market cap 13.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
Explore this area
Business Placement
Demographics for 74075, OK
25,033
Population
12,255
Households
2
Avg Household Size
28
Median Age
50%
College-Educated
95%
High-School Grad
94.8 sq mi
ZIP Area
264
Density / Sq Mi
$45,540
Median Household Income
$23,292
Median Earnings
$933
Median Rent
$220,900
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 - Well-maintained duplex offers two fully leased 2-bedroom, 1-bath units with a shared garage.
Where is this duplex located?
The property is located at 1509 N Hartford Street Stillwater, OK.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Duplex with two fully leased 2‑bedroom, 1‑bath units at 1509 & 1511 N Hartford; Shared garage included with both units; Brick & frame construction with modern architectural style
