Residential Duplex with Open
For Sale
$224,900
Pending
18208 Manera Way, Edmond, OK 73012
Duplex in Edmond with HOA-maintained yards and access to neighborhood parks and a splash pad.
Property Size1,485 SF
Days on Market114
Property Features for 18208 Manera Way
General Information
Standard status
Pending
Size
1,485 SF
Property subtype
Half Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,461
Building Details
Building Size
1,485 SF
Year Built
2016
Listing Agency:
Flotilla Real Estate Partners
(405) 948-7500
Listed By:
Brandon Hart
Source:
Stetsonbentley
Added: Apr 21
Changed: Aug 11
Last Checked: Aug 11 at 12:18PM
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 Flotilla Real Estate Partners
Investment Insights
Based on property information with market context.
Built in 2016, this residential duplex offers a three-bedroom, two-bath configuration with an open interior plan and split-bedroom arrangement. Tall ceilings, large windows, generous closet space, and substantial cabinet storage contribute to the functional layout. The primary suite is positioned separately from the other bedrooms for added privacy, while abundant natural light supports a bright interior setting.
The property is located in Edmond’s Deer Creek area at 18208 Manera Way. The HOA handles yard maintenance and provides access to neighborhood parks and a splash pad. Shopping, dining, and everyday conveniences are identified nearby, supporting practical day-to-day use. The home is described as move-in ready.
The property is located in Edmond’s Deer Creek area at 18208 Manera Way. The HOA handles yard maintenance and provides access to neighborhood parks and a splash pad. Shopping, dining, and everyday conveniences are identified nearby, supporting practical day-to-day use. The home is described as move-in ready.
Key Highlights
- Three‑bedroom, two‑bath duplex configuration
- Built in 2016
- Open layout with split‑bedroom design
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
4.20%
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 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$309.3K
$270.6K – $360.9K
NOI $21,651 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
157
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Duplex in Edmond with HOA-maintained yards and access to neighborhood parks and a splash pad.
Where is this residential income property located?
The property is located at 18208 Manera Way Edmond, OK.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Three‑bedroom, two‑bath duplex configuration; Built in 2016; Open layout with split‑bedroom design
