Duplex Property with Covered
For Sale
$240,000
15420 Monarch Lane, Edmond, OK 73013
Residential, Edmond, OK
Property Size2,083 SF
Lot Size0.09 Acres
Price / SF$115.22
Days on Market84
Property Features for 15420 Monarch Lane
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2
Patio and Porch features
Patio
Fireplace
1
Appliances
Dishwasher, Microwave, Refrigerator, Washer/Dryer, Water Heater
Lot features
Corner Lot
Elementary school
Charles Haskell ES
Middle school
Summit MS
High school
Santa Fe HS
Elementary school district
Edmond
Middle school district
Edmond
High school district
Edmond
Directions
From N. Sante Fe and NW 150th, North to Butterfly Creek Blvd, West to Monarch Lane, left to property.
Standard status
Active
APN
15420NONEMonarch73013
Size
2,083 SF
Lot size
0.09 Acres
Taxes and HOA fees
HOA Fee
$2,090 Annually
Utilities
Utilities
Cable Available
Heating system
Natural Gas
Cooling system
Electric
Amenities
gated community
clubhouse
swimming pool
community storm shelter
walking paths
covered back patio
Building Details
Year built
2001
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Keller Williams Realty Elite
(405) 948-7500
Listed By:
Meagan McGowen
(580) 220-7963
Added: Jun 13
Changed: Sep 2
Last Checked: Sep 4 at 5:06PM
MLS# 1234384
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 2,083-square-foot duplex property was built in 2001 and includes three bedrooms, two bathrooms, an open-concept living arrangement, and a covered patio. Brick and frame construction, a composition roof, natural-gas heating, electric cooling, and an included refrigerator, washer, and dryer are part of the property’s existing features. A fireplace is also present.
The home is located within the gated Butterfly Creek community in Edmond, with HOA lawn maintenance included. Community amenities include a clubhouse, swimming pool, storm shelter, walking paths, and greenbelt views. The property offers access to the Kilpatrick Turnpike, Broadway Extension, and I-35, along with nearby shopping, dining, and medical facilities.
The home is located within the gated Butterfly Creek community in Edmond, with HOA lawn maintenance included. Community amenities include a clubhouse, swimming pool, storm shelter, walking paths, and greenbelt views. The property offers access to the Kilpatrick Turnpike, Broadway Extension, and I-35, along with nearby shopping, dining, and medical facilities.
Key Highlights
- 2,083‑square‑foot property built in 2001
- Three bedrooms and two bathrooms with an open‑concept layout
- Covered patio and fireplace
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
$13,254
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
5.52%
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%
$265,080
$265.1K
Cap Rate 7%
$189,343
$189.3K
Cap Rate 9%
$147,267
$147.3K
Market Conditions
NOI Build-Up for 2,083 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
$26.7K $12.84/SF
− Vacancy
−$2.6K −$1.27/SF
EGI
$24.1K $11.57/SF
− OpEx
−$10.8K −$5.21/SF
NOI
$13.3K $6.36/SF
Area
Oklahoma County, OK
Vacancy
9.90%
Lease Rate
$12.84 /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%
$265,080
Cap Rate 7%
$189,343
Cap Rate 9%
$147,267
Alternative Uses
Best Use
Apartment 5plus
$189.3K
$165.7K – $220.9K
NOI $13,254 @ 7.0% cap · market cap 5.52%
Second Best
Multifamily LT 5
$180.8K
$158.2K – $210.9K
NOI $12,656 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$433.9K
$379.6K – $506.2K
NOI $30,370 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
508
Businesses Nearby
Explore this area
Business Placement
Demographics for 73013, OK
56,972
Population
22,971
Households
2.5
Avg Household Size
36
Median Age
59%
College-Educated
97%
High-School Grad
32.7 sq mi
ZIP Area
1,742
Density / Sq Mi
$108,727
Median Household Income
$54,073
Median Earnings
$1,465
Median Rent
$292,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained residence in a gated community with HOA-provided lawn care and shared neighborhood amenities.
Where is this duplex located?
The property is located at 15420 Monarch Lane Edmond, OK.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 2,083‑square‑foot property built in 2001; Three bedrooms and two bathrooms with an open‑concept layout; Covered patio and fireplace
