Remodeled Residential Income
For Sale
$163,000
151-3000 Chautauqua Ave, Norman, OK 73069
Corner condo with a private patio, fireplace, pool access, and two designated parking spaces.
Property Size991 SF
Price / SF$164.48
Days on Market61
Property Features for 151-3000 Chautauqua Ave
General Information
Standard status
Active
Size
991 SF
Property subtype
Residential
Listing Agency:
Musgrave Real Estate
(405) 527-9230
Listed By:
Donelda Ellis
(405) 830-1317
Source:
Exprealty
Added: Aug 6
Changed: Oct 2
Last Checked: Oct 4 at 1:30PM
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 Musgrave Real Estate
Investment Insights
Based on property information with market context.
This 991 SF bottom-floor corner condo includes 2 bedrooms and 2 bathrooms, with a private patio, fireplace, and in-unit laundry hookups with washer and dryer. The interior remodel includes new windows, vinyl flooring, cabinetry, countertops, backsplash, appliances, lighting, fixtures, blinds, toilets, paint, baseboards, a patio door, and fireplace updates.
The community provides access to a pool and includes two designated parking spaces, one of which is covered. HOA services cover exterior maintenance, water, sewer, trash, the pool, and common areas. The property is located on Chautauqua Ave in Norman, minutes from OU and Highway 9. The complex also received a new roof, siding, and gutters this past spring.
The community provides access to a pool and includes two designated parking spaces, one of which is covered. HOA services cover exterior maintenance, water, sewer, trash, the pool, and common areas. The property is located on Chautauqua Ave in Norman, minutes from OU and Highway 9. The complex also received a new roof, siding, and gutters this past spring.
Key Highlights
- 991 SF bottom‑floor corner condo with 2 bedrooms and 2 bathrooms
- Interior remodeled with new windows, flooring, cabinets, countertops, appliances, fixtures, and paint
- Private patio, fireplace, and in‑unit laundry hookups with washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,256
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$165,120
$165.1K
Cap Rate 7%
$117,943
$117.9K
Cap Rate 9%
$91,733
$91.7K
Market Conditions
NOI Build-Up for 991 SF
Gross rent
$16.1K $16.20/SF
− Vacancy
−$1.0K −$1.05/SF
EGI
$15.0K $15.15/SF
− OpEx
−$6.8K −$6.82/SF
NOI
$8.3K $8.33/SF
Area
Norman, OK
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$165,120
Cap Rate 7%
$117,943
Cap Rate 9%
$91,733
Alternative Uses
Best Use
Apartment 5plus
$117.9K
$103.2K – $137.6K
NOI $8,256 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$171.2K
$149.8K – $199.8K
NOI $11,987 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,791
Businesses Nearby
Explore this area
Business Placement
Demographics for 73069, OK
26,464
Population
12,719
Households
2.1
Avg Household Size
32
Median Age
45%
College-Educated
93%
High-School Grad
15.7 sq mi
ZIP Area
1,686
Density / Sq Mi
$55,699
Median Household Income
$34,151
Median Earnings
$1,031
Median Rent
$212,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner condo with a private patio, fireplace, pool access, and two designated parking spaces.
Where is this residential income property located?
The property is located at 151-3000 Chautauqua Ave Norman, OK.
What is the asking price?
The asking price for this property is $163,000.
What are key features of this property?
This property features: 991 SF bottom‑floor corner condo with 2 bedrooms and 2 bathrooms; Interior remodeled with new windows, flooring, cabinets, countertops, appliances, fixtures, and paint; Private patio, fireplace, and in‑unit laundry hookups with washer and dryer
