Duplex with Covered
For Sale
$219,900
18123 Manera Way, Edmond, OK 73012
Residential, Edmond, OK
Property Size1,485 SF
Lot Size0.09 Acres
Price / SF$148.08
Days on Market47
Property Features for 18123 Manera Way
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 4, Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 1
Patio and Porch features
Porch, Patio
Exterior features
Patio-Covered, Covered Porch
Lot features
Interior Lot
Elementary school
Grove Valley ES
Middle school
Deer Creek MS
High school
Deer Creek HS
Elementary school district
Deer Creek
Middle school district
Deer Creek
High school district
Deer Creek
Directions
Will GPS. From NW 178th and May Ave, go North and take the 2nd right turn onto Manera Way. Home is on Right.
Standard status
Active
APN
18123NONEManera73012
Size
1,485 SF
Lot size
0.09 Acres
Taxes and HOA fees
HOA Fee
$795 Annually
Utilities
Heating system
Natural Gas
Cooling system
Electric, Central Air
Building Details
Year built
2016
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Flotilla Real Estate Partners
(405) 977-0207
Listed By:
Brandon Hart
(405) 990-4569
Added: Jul 17
Changed: Aug 21
Last Checked: Sep 1 at 8:06AM
MLS# 1239745
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 offers 1,485 square feet with three bedrooms and two bathrooms. The interior includes an open-concept arrangement, tall ceilings, natural light, a split-bedroom plan, spacious closets, and substantial cabinet storage. Brick and frame construction, a covered patio, covered porch, composition roof, natural gas heating, and electric central air complete the property’s physical features.
The property is located in Edmond’s Deer Creek area, with neighborhood parks and a splash pad nearby. Shopping, dining, major highways, and Deer Creek schools are also identified in the surrounding area. HOA service includes yard maintenance, adding a lower-maintenance element to the property.
The property is located in Edmond’s Deer Creek area, with neighborhood parks and a splash pad nearby. Shopping, dining, major highways, and Deer Creek schools are also identified in the surrounding area. HOA service includes yard maintenance, adding a lower-maintenance element to the property.
Key Highlights
- Duplex with 3 bedrooms and 2 bathrooms
- 1,485 square feet of living area
- Open‑concept layout with tall ceilings and natural light
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
$9,449
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
4.30%
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%
$188,980
$189.0K
Cap Rate 7%
$134,986
$135.0K
Cap Rate 9%
$104,989
$105.0K
Market Conditions
NOI Build-Up for 1,485 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
$19.1K $12.84/SF
− Vacancy
−$1.9K −$1.27/SF
EGI
$17.2K $11.57/SF
− OpEx
−$7.7K −$5.21/SF
NOI
$9.4K $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%
$188,980
Cap Rate 7%
$134,986
Cap Rate 9%
$104,989
Alternative Uses
Best Use
Apartment 5plus
$135.0K
$118.1K – $157.5K
NOI $9,449 @ 7.0% cap · market cap 4.30%
Second Best
Multifamily LT 5
$128.9K
$112.8K – $150.4K
NOI $9,023 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$309.3K
$270.6K – $360.9K
NOI $21,651 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
143
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 - Three-bedroom, two-bath residence with open living areas, split-bedroom privacy, and HOA-maintained yard care.
Where is this duplex located?
The property is located at 18123 Manera Way Edmond, OK.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Duplex with 3 bedrooms and 2 bathrooms; 1,485 square feet of living area; Open‑concept layout with tall ceilings and natural light
