Two-Unit Duplex with Covered
For Sale
$425,000
17119 Cedar Drive, Edmond, OK 73012
Two distinct floor plans offer private patios, generous storage, and established rental history.
Property Size3,090 SF
Days on Market77
Property Features for 17119 Cedar Drive
General Information
Standard status
Active
Size
3,090 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$5,704
Building Details
Building Size
3,090 SF
Year Built
2002
Tenancy
Multi
Listing Agency:
RE/MAX at Home
Listed By:
Brian Preston · License #85746
(405) 826-5725
Source:
Stetsonbentley
Added: Jun 24
Changed: Sep 7
Last Checked: Sep 7 at 8:56AM
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 RE/MAX at Home
Investment Insights
Based on property information with market context.
This two-unit duplex, built in 2002, offers distinct layouts rather than mirror-image floor plans. One unit includes two bedrooms, a study, two bathrooms, a large kitchen with a gas range top, a covered patio, a primary bedroom with a large closet, French doors at the front study, and extensive cabinet and storage space. The second unit also includes two bedrooms and two bathrooms, with front-and-back bedroom placement, a side-entry patio, and a large primary-bedroom closet.
The property has established rental history, including one renter with a ten-year tenancy. That renter has recently moved, leaving the unit ready for occupancy or a new renter. The duplex is located on Cedar Drive in Edmond, Oklahoma.
The property has established rental history, including one renter with a ten-year tenancy. That renter has recently moved, leaving the unit ready for occupancy or a new renter. The duplex is located on Cedar Drive in Edmond, Oklahoma.
Key Highlights
- Two‑unit duplex built in 2002
- Distinct floor plans rather than mirror‑image layouts
- One unit features a study, gas range top, covered patio, and French doors
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
224
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct floor plans offer private patios, generous storage, and established rental history.
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: Two‑unit duplex built in 2002; Distinct floor plans rather than mirror‑image layouts; One unit features a study, gas range top, covered patio, and French doors
