Residential Income
1641 High Circle 1641/1645, Norman, OK 73071
For Sale
$334,500
Built in 2000, the property features traditional exterior styling.
Property Size2,445 SF
Price / SF$136.81
Days on Market11
Property Features for 1641 High Circle 1641/1645
General Information
Standard status
Size
Property subtype
Amenities
Traditional
Building Details
Year Built
Stories
Listing Agency:
Meraki Real Estate
Listed By:
Zandrea Waldenville
(405) 401-0448
Source:
Evrealestate
Added: Oct 30
Changed: Nov 8
Last Checked: Nov 8 at 6:24AM
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 Meraki Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This residential income property in Norman was built in 2000 and has traditional exterior styling. It is located at 1641/1645 High Circle. From I-35, take Main Street Exit 109 and continue east toward High Circle by local streets.
Key Highlights
- Built in 2000
- Traditional exterior styling
- Located at 1641/1645 High Circle in Norman, OK 73071
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,369
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$407,380
$407.4K
Cap Rate 7%
$290,986
$291.0K
Cap Rate 9%
$226,322
$226.3K
Market Conditions
NOI Build-Up for 2,445 SF
Gross rent
$39.6K $16.20/SF
− Vacancy
−$2.6K −$1.05/SF
EGI
$37.0K $15.15/SF
− OpEx
−$16.7K −$6.82/SF
NOI
$20.4K $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%
$407,380
Cap Rate 7%
$290,986
Cap Rate 9%
$226,322
Alternative Uses
Best Use
Apartment 5plus
$291.0K
$254.6K – $339.5K
NOI $20,369 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$422.5K
$369.7K – $492.9K
NOI $29,575 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
Explore this area
Business Placement
Demographics for 73071, OK
43,379
Population
19,192
Households
2.3
Avg Household Size
31
Median Age
42%
College-Educated
94%
High-School Grad
23.3 sq mi
ZIP Area
1,862
Density / Sq Mi
$59,258
Median Household Income
$32,830
Median Earnings
$1,059
Median Rent
$206,600
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Cleveland County, OK
Properties on Market for Residential income properties in Cleveland County
Frequently Asked Questions
What type of property is this?
Residential income property - Built in 2000, the property features traditional exterior styling.
Where is this residential income property located?
The property is located at 1641 High Circle 1641/1645 Norman, OK.
What is the asking price?
The asking price for this property is $334,500.
What are key features of this property?
This property features: Built in 2000; Traditional exterior styling; Located at 1641/1645 High Circle in Norman, OK 73071
