Two-Unit Duplex
For Sale
$320,000
1721 Nw 17th St, Oklahoma City, OK 73160
Two separate residences support flexible occupancy near Oklahoma City’s Plaza District, with nearby dining, retail, and entertainment.
Property Size2,207 SF
Price / SF$144.99
Days on Market12
Property Features for 1721 Nw 17th St
General Information
Standard status
Active
Size
2,207 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
eXp Realty, LLC BO
(888) 560-3964
Listed By:
Jayna Davis
(405) 757-9798
Source:
Exprealty
Added: Aug 31
Changed: Sep 10
Last Checked: Sep 10 at 3:04PM
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 eXp Realty, LLC BO
Investment Insights
Based on property information with market context.
This duplex contains two separate units within a 2,207-square-foot residential income property. The layout supports distinct occupancy arrangements, including an owner-occupant setup with one residence used for income generation, as well as full-property leasing.
The property is located at 1721 NW 17th St in Oklahoma City, within walking distance of the Plaza District. Restaurants, shops, and entertainment are nearby, while Midtown, Uptown, downtown Oklahoma City, and major thoroughfares are within a short drive.
The property is located at 1721 NW 17th St in Oklahoma City, within walking distance of the Plaza District. Restaurants, shops, and entertainment are nearby, while Midtown, Uptown, downtown Oklahoma City, and major thoroughfares are within a short drive.
Key Highlights
- Two‑unit duplex configuration
- 2,207 square feet of total property size
- Within walking distance of Oklahoma City’s Plaza District
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
$19,934
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
6.23%
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%
$398,680
$398.7K
Cap Rate 7%
$284,771
$284.8K
Cap Rate 9%
$221,489
$221.5K
Market Conditions
NOI Build-Up for 2,207 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
$30.5K $13.80/SF
− Vacancy
−$2.0K −$0.90/SF
EGI
$28.5K $12.90/SF
− OpEx
−$8.5K −$3.87/SF
NOI
$19.9K $9.03/SF
Area
ZIP 73160
Vacancy
6.50%
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%
$398,680
Cap Rate 7%
$284,771
Cap Rate 9%
$221,489
Alternative Uses
Best Use
Multifamily LT 5
$284.8K
$249.2K – $332.2K
NOI $19,934 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$264.6K
$231.6K – $308.7K
NOI $18,524 @ 7.0% cap · market cap 5.79%
Theoretical Best
Specialty Retail
$533.5K
$466.8K – $622.4K
NOI $37,342 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Explore this area
Business Placement
Demographics for 73160, OK
60,511
Population
25,055
Households
2.4
Avg Household Size
33
Median Age
28%
College-Educated
92%
High-School Grad
21.4 sq mi
ZIP Area
2,828
Density / Sq Mi
$76,407
Median Household Income
$41,156
Median Earnings
$1,245
Median Rent
$189,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences support flexible occupancy near Oklahoma City’s Plaza District, with nearby dining, retail, and entertainment.
Where is this duplex located?
The property is located at 1721 Nw 17th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 2,207 square feet of total property size; Within walking distance of Oklahoma City’s Plaza District
