Updated Two-Unit
For Sale
$196,000
1925 E 51st Place, Tulsa, OK 74105
Residential, Ranch, Tulsa, OK
Property Size1,849 SF
Lot Size0.23 Acres
Price / SF$106
Days on Market54
Property Features for 1925 E 51st Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
Patio and Porch features
Patio
Interior features
Cable TV Wired, High Speed Internet, Smoke Detector
Exterior features
Gutters
Fencing
Privacy
Appliances
Dishwasher, Disposal, Range/Oven
Subdivision
Grove Manor addn resub Perrys
Lot features
Mature Trees
Elementary school
McClure
Middle school
Memorial
High school
Memorial
Elementary school district
Tulsa - Sch Dist (1)
Middle school district
Tulsa - Sch Dist (1)
High school district
Tulsa - Sch Dist (1)
Directions
Exit Peoria off I-44. Take Skelly Dr and turn south on Wheeling, then east on 55th Place
Standard status
Active
APN
17125-93-31-03910
Size
1,849 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 3 BLOCK 1 GROVE MANOR ADDN RESUB
Tax Annual Amount
1100
Legal Description
LOT 3 BLOCK 1 GROVE MANOR ADDN RESUB
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1965
Floors in Building
1
Flooring type
Wood veneer, Carpet, Tile
Building materials
Wood Frame
Roof type
Fiberglass
Architectural style
Ranch
Listing Agency:
Keller Williams Preferred · Keller Williams Realty
(918) 496-2252
Listed By:
Stacy Meeker · License #173938
(918) 496-2252
Added: Jul 7
Changed: Aug 19
Last Checked: Aug 29 at 4:06AM
MLS# 2624027
Copyright © 2026 MLS Technology, 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 1,849-square-foot duplex sits on a 0.23-acre parcel and contains two separate residences, each arranged with two bedrooms and one bathroom. Both units include an eat-in kitchen with substantial cabinet storage, an indoor utility room, large bedroom closets, and additional bathroom storage. Recent interior work includes fresh paint along with new carpet and flooring. Central heating and cooling, dishwashers, disposals, range/ovens, patios, privacy fencing, gutters, and a fiberglass roof are among the property features. The wood-frame ranch was built in 1965 and is being offered AS IS.
The property is located in Tulsa’s 74105 ZIP code. Pickleball courts, a public park, and a walking and jogging path are situated a couple of blocks away. Wired cable TV, high-speed internet, and smoke detectors are also included.
The property is located in Tulsa’s 74105 ZIP code. Pickleball courts, a public park, and a walking and jogging path are situated a couple of blocks away. Wired cable TV, high-speed internet, and smoke detectors are also included.
Key Highlights
- 1,849‑square‑foot duplex on a 0.23‑acre parcel
- Two residences, each with 2 bedrooms and 1 bathroom
- Fresh paint plus new carpet and flooring throughout
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 - Two matching residences provide private kitchens, utility rooms, and individual two-bedroom, one-bath layouts.
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: 1,849‑square‑foot duplex on a 0.23‑acre parcel; Two residences, each with 2 bedrooms and 1 bathroom; Fresh paint plus new carpet and flooring throughout
