Duplex With Fenced
New
For Sale
$330,000
1926 W State Ln, Stillwater, OK 74075
Two leased residences offer open layouts, full baths, and private fenced backyards.
Property Size3,018 SF
Price / SF$109.34
Days on Market6
Property Features for 1926 W State Ln
General Information
Standard status
Active
Size
3,018 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,602
Listing Agency:
REAL ESTATE PROFESSIONALS
(405) 614-9600
Listed By:
Ann Morgan · License #176725
(405) 614-9600
Source:
Exprealty
Added: Aug 12
Changed: Aug 16
Last Checked: Aug 16 at 9:33AM
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 REAL ESTATE PROFESSIONALS
Investment Insights
Based on property information with market context.
This 3,018-square-foot duplex contains two residential units, each arranged with 3 bedrooms, 2 full baths, an open layout, and natural light. Both residences include fully fenced backyards, providing defined outdoor space for occupants.
The property is located on a quiet cul-de-sac in University Estates at 1926 W State Ln in Stillwater, Oklahoma. Oklahoma State University, Boomer Lake, and Stillwater Regional Airport are each identified as nearby destinations. Both units are leased through May 2027, supporting continuity of occupancy for the current lease term.
The property is located on a quiet cul-de-sac in University Estates at 1926 W State Ln in Stillwater, Oklahoma. Oklahoma State University, Boomer Lake, and Stillwater Regional Airport are each identified as nearby destinations. Both units are leased through May 2027, supporting continuity of occupancy for the current lease term.
Key Highlights
- 3,018‑square‑foot duplex at 1926 W State Ln, Stillwater, OK
- Each unit includes 3 bedrooms and 2 full baths
- Both residences feature open layouts with 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
$23,231
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
7.04%
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%
$464,620
$464.6K
Cap Rate 7%
$331,871
$331.9K
Cap Rate 9%
$258,122
$258.1K
Market Conditions
NOI Build-Up for 3,018 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 $12.24/SF
− Vacancy
−$3.8K −$1.24/SF
EGI
$33.2K $11.00/SF
− OpEx
−$10.0K −$3.30/SF
NOI
$23.2K $7.70/SF
Area
Payne County, OK
Vacancy
10.16%
Lease Rate
$12.24 /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%
$464,620
Cap Rate 7%
$331,871
Cap Rate 9%
$258,122
Alternative Uses
Best Use
Multifamily LT 5
$331.9K
$290.4K – $387.2K
NOI $23,231 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$307.5K
$269.0K – $358.7K
NOI $21,523 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$742.2K
$649.4K – $865.9K
NOI $51,951 @ 7.0% cap · market cap 15.74%
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
58
Businesses Nearby
Explore this area
Business Placement
Demographics for 74075, OK
25,033
Population
12,255
Households
2
Avg Household Size
28
Median Age
50%
College-Educated
95%
High-School Grad
94.8 sq mi
ZIP Area
264
Density / Sq Mi
$45,540
Median Household Income
$23,292
Median Earnings
$933
Median Rent
$220,900
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 leased residences offer open layouts, full baths, and private fenced backyards.
Where is this duplex located?
The property is located at 1926 W State Ln Stillwater, OK.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 3,018‑square‑foot duplex at 1926 W State Ln, Stillwater, OK; Each unit includes 3 bedrooms and 2 full baths; Both residences feature open layouts with natural light
