Duplex with Open Kitchen
For Sale
$378,000
Pending
1867 Comice Drive, Newcastle, OK 73065
Residential Income, Newcastle, OK
Property Size2,584 SF
Lot Size0.34 Acres
Days on Market95
Property Features for 1867 Comice Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 4, Bedroom 3, Bedroom 5
Lot features
Corner Lot, Interior Lot
Elementary school
Newcastle ES
Middle school
Newcastle MS
High school
Newcastle HS
Elementary school district
Newcastle
Middle school district
Newcastle
High school district
Newcastle
Directions
From I-44 and HWY 62, go south on 62, turn East on NE 19th St, turn south on 19th St. Duplex is on the corner.
Standard status
Pending
APN
1867NONEComice73065
Size
2,584 SF
Lot size
0.34 Acres
Building Details
Year built
2021
Floors in Building
2
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
PR Agency, LLC
(405) 205-5751
Listed By:
Andrew Armstrong
(405) 204-8215
Added: Jun 24
Changed: Sep 14
Last Checked: Sep 26 at 8:06AM
MLS# 1236324
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.
Built in 2021, this duplex contains 2,584 square feet on a 0.34-acre lot. The property includes six bedrooms and four bathrooms overall, with an open kitchen-centered layout, a central island, extensive cabinet storage, and substantial counter space. Brick and frame construction and a composition roof complete the improvements. Existing tenants are in place.
Located at 1867 Comice Drive in Newcastle, Oklahoma, the property is within ZIP Code 73065 and McClain County. Its two-unit configuration and existing occupancy provide a straightforward residential income property format.
Located at 1867 Comice Drive in Newcastle, Oklahoma, the property is within ZIP Code 73065 and McClain County. Its two-unit configuration and existing occupancy provide a straightforward residential income property format.
Key Highlights
- 2,584‑square‑foot duplex on 0.34 acres
- Six bedrooms and four bathrooms overall
- Built in 2021
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
$24,151
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
6.39%
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%
$483,020
$483.0K
Cap Rate 7%
$345,014
$345.0K
Cap Rate 9%
$268,344
$268.3K
Market Conditions
NOI Build-Up for 2,584 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
$36.9K $14.28/SF
− Vacancy
−$2.4K −$0.93/SF
EGI
$34.5K $13.35/SF
− OpEx
−$10.4K −$4.01/SF
NOI
$24.2K $9.35/SF
Area
McClain County, OK
Vacancy
6.50%
Lease Rate
$14.28 /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%
$483,020
Cap Rate 7%
$345,014
Cap Rate 9%
$268,344
Alternative Uses
Best Use
Multifamily LT 5
$345.0K
$301.9K – $402.5K
NOI $24,151 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$319.3K
$279.4K – $372.5K
NOI $22,348 @ 7.0% cap · market cap 5.91%
Theoretical Best
Specialty Retail
$624.6K
$546.5K – $728.7K
NOI $43,721 @ 7.0% cap · market cap 11.57%
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
99
Businesses Nearby
Explore this area
Business Placement
Demographics for 73065, OK
9,725
Population
4,413
Households
2.2
Avg Household Size
38
Median Age
32%
College-Educated
91%
High-School Grad
51.8 sq mi
ZIP Area
188
Density / Sq Mi
$93,451
Median Household Income
$51,717
Median Earnings
$990
Median Rent
$240,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Occupied two-unit residential property with contemporary finishes, generous kitchen storage, and spacious bedrooms and bathrooms.
Where is this duplex located?
The property is located at 1867 Comice Drive Newcastle, OK.
What is the asking price?
The asking price for this property is $378,000.
What are key features of this property?
This property features: 2,584‑square‑foot duplex on 0.34 acres; Six bedrooms and four bathrooms overall; Built in 2021
