Brick-and-Frame
For Sale
$205,000
Pending
1701 NW 39th Street, Oklahoma City, OK 73118
Residential Income, Oklahoma City, OK
Property Size1,693 SF
Lot Size0.12 Acres
Days on Market12
Property Features for 1701 NW 39th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 4, Bedroom 5
Lot features
Interior Lot
Elementary school
Monroe ES
Middle school
John Marshall MS
High school
John Marshall HS
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Standard status
Pending
APN
1701NW39th73118
Size
1,693 SF
Lot size
0.12 Acres
Building Details
Year built
1933
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Colonial
Listing Agency:
LRE Realty, LLC
(405) 285-5750
Listed By:
Jennifer Whitten
(405) 414-2864
Added: Aug 12
Changed: Aug 21
Last Checked: Aug 23 at 12:06AM
MLS# 1244101
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 triplex at 1701 NW 39th Street comprises 1,693 square feet on a 0.1217-acre lot. The property was built in 1933 and combines brick-and-frame construction with Colonial architectural styling. A composition roof completes the exterior profile.
The residence includes five identified bedrooms and four identified bathrooms. Its Oklahoma City location is in ZIP Code 73118, within Oklahoma County, providing a defined urban setting for this multifamily asset.
The residence includes five identified bedrooms and four identified bathrooms. Its Oklahoma City location is in ZIP Code 73118, within Oklahoma County, providing a defined urban setting for this multifamily asset.
Key Highlights
- Triplex classification with 1,693 square feet of property size
- Five identified bedrooms and four identified bathrooms
- 0.1217‑acre lot at 1701 NW 39th Street
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
$15,455
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
7.54%
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%
$309,100
$309.1K
Cap Rate 7%
$220,786
$220.8K
Cap Rate 9%
$171,722
$171.7K
Market Conditions
NOI Build-Up for 1,693 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
$23.4K $13.80/SF
− Vacancy
−$1.3K −$0.76/SF
EGI
$22.1K $13.04/SF
− OpEx
−$6.6K −$3.91/SF
NOI
$15.5K $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%
$309,100
Cap Rate 7%
$220,786
Cap Rate 9%
$171,722
Alternative Uses
Best Use
Multifamily LT 5
$220.8K
$193.2K – $257.6K
NOI $15,455 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$204.3K
$178.8K – $238.3K
NOI $14,300 @ 7.0% cap · market cap 6.98%
Theoretical Best
Specialty Retail
$579.0K
$506.6K – $675.5K
NOI $40,530 @ 7.0% cap · market cap 19.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
Explore this area
Business Placement
Demographics for 73118, OK
13,521
Population
7,856
Households
1.7
Avg Household Size
37
Median Age
49%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
2,817
Density / Sq Mi
$69,321
Median Household Income
$45,494
Median Earnings
$1,064
Median Rent
$252,500
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?
Triplex - Colonial-style multifamily property with a five-bedroom, four-bathroom room count.
Where is this triplex located?
The property is located at 1701 NW 39th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Triplex classification with 1,693 square feet of property size; Five identified bedrooms and four identified bathrooms; 0.1217‑acre lot at 1701 NW 39th Street
