Remodeled Duplex Near McKinley
For Sale
$340,000
1609 NW 12th Street, Oklahoma City, OK 73106
Residential Income, Oklahoma City, OK
Property Size2,152 SF
Lot Size0.08 Acres
Price / SF$157.99
Days on Market98
Property Features for 1609 NW 12th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 4, Bathroom 3, Bedroom 3, Bedroom 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
NW 10th to McKinley Ave. North, W. on NW 12th.
Standard status
Active
APN
1609NW12th73106
Size
2,152 SF
Lot size
0.08 Acres
Building Details
Year built
1935
Floors in Building
2
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Copper Creek Real Estate
(405) 888-9902
Listed By:
Rachael Silverstein · License #206357
(405) 756-6137
Added: May 27
Changed: Aug 31
Last Checked: Sep 1 at 12:06PM
MLS# 1231461
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 duplex contains 2,152 square feet on a 0.0781-acre lot and was built in 1935. The property has undergone a full remodel with updated kitchens and bathrooms, contemporary finishes, high ceilings, spacious layouts, and abundant natural light. Brick and frame construction and a composition roof complete the physical profile. Room information includes 4 bedrooms and 4 bathrooms.
The property is located at 1609 NW 12th Street in Oklahoma City, directly across from McKinley Park and 3 blocks from the Plaza District. Its setting places the duplex near shopping, dining, entertainment, and downtown Oklahoma City.
The property is located at 1609 NW 12th Street in Oklahoma City, directly across from McKinley Park and 3 blocks from the Plaza District. Its setting places the duplex near shopping, dining, entertainment, and downtown Oklahoma City.
Key Highlights
- 2,152 square feet on a 0.0781‑acre lot
- Duplex with 4 bedrooms and 4 bathrooms
- Fully remodeled with updated kitchens and bathrooms
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
$19,645
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
5.78%
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%
$392,900
$392.9K
Cap Rate 7%
$280,643
$280.6K
Cap Rate 9%
$218,278
$218.3K
Market Conditions
NOI Build-Up for 2,152 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
$29.7K $13.80/SF
− Vacancy
−$1.6K −$0.76/SF
EGI
$28.1K $13.04/SF
− OpEx
−$8.4K −$3.91/SF
NOI
$19.6K $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%
$392,900
Cap Rate 7%
$280,643
Cap Rate 9%
$218,278
Alternative Uses
Best Use
Multifamily LT 5
$280.6K
$245.6K – $327.4K
NOI $19,645 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$259.7K
$227.2K – $303.0K
NOI $18,177 @ 7.0% cap · market cap 5.35%
Theoretical Best
Specialty Retail
$736.0K
$644.0K – $858.7K
NOI $51,519 @ 7.0% cap · market cap 15.15%
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
1,374
Businesses Nearby
Explore this area
Business Placement
Demographics for 73106, OK
12,956
Population
6,069
Households
2.1
Avg Household Size
32
Median Age
40%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
4,319
Density / Sq Mi
$51,934
Median Household Income
$32,145
Median Earnings
$1,050
Median Rent
$262,500
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 - Two-unit property with updated interiors, high ceilings, natural light, and a convenient Oklahoma City setting.
Where is this duplex located?
The property is located at 1609 NW 12th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 2,152 square feet on a 0.0781‑acre lot; Duplex with 4 bedrooms and 4 bathrooms; Fully remodeled with updated kitchens and bathrooms
