Two-Unit
For Sale
$196,000
1925 E 51st Place, Tulsa, OK 74105
Both residences offer two bedrooms, one bath, eat-in kitchens, and indoor utility rooms.
Property Size1,849 SF
Days on Market48
Property Features for 1925 E 51st Place
General Information
Standard status
Active
Size
1,849 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,100
Building Details
Building Size
1,849 SF
Year Built
1965
Buildings
1
Stories
1
Units
2
Listing Agency:
Keller Williams Preferred
(918) 637-5956
Listed By:
Stacy Meeker · License #173938
(918) 637-5956
Source:
Eufaulaproperties
Added: Jul 7
Changed: Aug 22
Last Checked: Aug 22 at 6:14AM
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 Keller Williams Preferred
Investment Insights
Based on property information with market context.
Located at 1925 E 51st Place in Tulsa, this duplex contains two separate residences, each with two bedrooms and one bathroom. Both units include eat-in kitchens with substantial cabinet storage, indoor utility rooms, generously sized bedroom closets, and additional bathroom storage.
The property was built in 1965 and has received fresh paint along with new carpet and flooring throughout. Pickleball courts, a children’s park, and a walking and jogging path are located a couple of blocks away. The property is being sold as-is.
The property was built in 1965 and has received fresh paint along with new carpet and flooring throughout. Pickleball courts, a children’s park, and a walking and jogging path are located a couple of blocks away. The property is being sold as-is.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- Eat‑in kitchens with abundant cabinet storage in both units
- Indoor utility rooms, large bedroom closets, and added bathroom storage
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
$16,590
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
8.46%
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%
$331,800
$331.8K
Cap Rate 7%
$237,000
$237.0K
Cap Rate 9%
$184,333
$184.3K
Market Conditions
NOI Build-Up for 1,849 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
$25.5K $13.80/SF
− Vacancy
−$1.8K −$0.98/SF
EGI
$23.7K $12.82/SF
− OpEx
−$7.1K −$3.85/SF
NOI
$16.6K $8.97/SF
Area
ZIP 74105
Vacancy
7.12%
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%
$331,800
Cap Rate 7%
$237,000
Cap Rate 9%
$184,333
Alternative Uses
Best Use
Multifamily LT 5
$237.0K
$207.4K – $276.5K
NOI $16,590 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$217.7K
$190.5K – $254.0K
NOI $15,239 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$452.6K
$396.1K – $528.1K
NOI $31,684 @ 7.0% cap · market cap 16.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
Explore this area
Business Placement
Demographics for 74105, OK
26,640
Population
14,531
Households
1.8
Avg Household Size
41
Median Age
49%
College-Educated
93%
High-School Grad
7.3 sq mi
ZIP Area
3,649
Density / Sq Mi
$69,864
Median Household Income
$47,580
Median Earnings
$989
Median Rent
$318,500
Median Home Value
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 - Both residences offer two bedrooms, one bath, eat-in kitchens, and indoor utility rooms.
Where is this duplex located?
The property is located at 1925 E 51st Place Tulsa, OK.
What is the asking price?
The asking price for this property is $196,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; Eat‑in kitchens with abundant cabinet storage in both units; Indoor utility rooms, large bedroom closets, and added bathroom storage
