Duplex with Covered
For Sale
$425,000
17119 Cedar Drive, Edmond, OK 73012
MULTI_FAMILY - Other - Edmond, OK
Property Size3,090 SF
Lot Size0.19 Acres
Price / SF$137.54
Days on Market49
Property Features for 17119 Cedar Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 4, Bedroom 1, Bedroom 3, Bathroom 3
Fireplace
1
Appliances
Dishwasher, Disposal, Microwave
Lot features
Corner Lot
Elementary school
West Field ES
Middle school
Heartland MS
High school
Santa Fe HS
Elementary school district
Edmond
Middle school district
Edmond
High school district
Edmond
Directions
From NW178th, go South on Western to NW 171st, Turn East and enter gate and property is on your right at entrance.
Standard status
Active
APN
17119NONECedar73012
Size
3,090 SF
Lot size
0.19 Acres
Taxes and HOA fees
HOA Fee
$1,600 Annually
Utilities
Heating system
Natural Gas
Cooling system
Electric, Central Air
Building Details
Year built
2002
Floors in Building
1
Building materials
Brick
Roof type
Composition
Architectural style
Other
Listing Agency:
RE/MAX at Home · RE/MAX International
(405) 708-6691
Listed By:
Brian Preston · License #85746
(405) 826-5725
Added: Jun 24
Changed: Aug 3
Last Checked: Aug 11 at 11:06PM
MLS# 1236349
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 includes a two-bedroom, two-bath layout described with a front study featuring glass French doors, plus a large primary bedroom with a sizable closet and a covered patio. The kitchen is described as featuring a gas range top, plenty of storage, and many cabinets. The home is set up with side entry patio space and additional separation between bedrooms, with bedrooms located front and back. Interior conveniences mentioned include a dishwasher, disposal, and microwave.
The property sits on a 0.188-acre lot and includes 3,090 square feet. Constructed with brick materials and a composition roof, it was built in 2002. Heating is natural gas, and cooling is electric central air, with a fireplace noted.
Tenant history is addressed in the remarks: a ten-year renter has just moved and the unit is described as ready for you or another renter.
The property sits on a 0.188-acre lot and includes 3,090 square feet. Constructed with brick materials and a composition roof, it was built in 2002. Heating is natural gas, and cooling is electric central air, with a fireplace noted.
Tenant history is addressed in the remarks: a ten-year renter has just moved and the unit is described as ready for you or another renter.
Key Highlights
- 0.188‑acre lot with 3,090 SF in brick construction
- Built in 2002 with a composition roof
- Natural gas heat plus electric central air
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
$19,661
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
4.63%
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%
$393,220
$393.2K
Cap Rate 7%
$280,871
$280.9K
Cap Rate 9%
$218,456
$218.5K
Market Conditions
NOI Build-Up for 3,090 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
$39.7K $12.84/SF
− Vacancy
−$3.9K −$1.27/SF
EGI
$35.7K $11.57/SF
− OpEx
−$16.1K −$5.21/SF
NOI
$19.7K $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%
$393,220
Cap Rate 7%
$280,871
Cap Rate 9%
$218,456
Alternative Uses
Best Use
Apartment 5plus
$280.9K
$245.8K – $327.7K
NOI $19,661 @ 7.0% cap · market cap 4.63%
Second Best
Multifamily LT 5
$268.2K
$234.7K – $312.9K
NOI $18,775 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$643.6K
$563.1K – $750.9K
NOI $45,051 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
762
Businesses Nearby
Explore this area
Business Placement
Demographics for 73012, OK
41,289
Population
16,172
Households
2.6
Avg Household Size
34
Median Age
56%
College-Educated
97%
High-School Grad
34.1 sq mi
ZIP Area
1,211
Density / Sq Mi
$123,528
Median Household Income
$59,000
Median Earnings
$1,779
Median Rent
$295,500
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 - Brick duplex built in 2002 with natural gas heat, central air, a fireplace, and a covered patio with side entry.
Where is this duplex located?
The property is located at 17119 Cedar Drive Edmond, OK.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 0.188‑acre lot with 3,090 SF in brick construction; Built in 2002 with a composition roof; Natural gas heat plus electric central air
