Remodeled Duplex Near Golf
For Sale
$450,000
1931 Three Stars Rd, Edmond, OK 73034
Two updated units include private garages, driveways, and refreshed interior finishes.
Property Size3,744 SF
Price / SF$120.19
Days on Market8
Property Features for 1931 Three Stars Rd
General Information
Standard status
Active
Size
3,744 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR/2.5BA
Multifamily Units
2
Building Details
Year Built
1977
Listing Agency:
Copper Creek Real Estate
(270) 535-0599
Listed By:
Cory Alexander · License #182047
Source:
Vibrantok
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 30 at 8:51PM
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 Copper Creek Real Estate
Investment Insights
Based on property information with market context.
This duplex contains two separately addressed units totaling 3,744 square feet. The residence at 1931 Three Stars Rd offers 1,771 sq ft with three bedrooms, two baths, a 2-car garage, and a 2-car driveway; it was completely remodeled in 2025. The 2001 Three Stars Rd unit provides 1,973 sq ft with three bedrooms, 2.5 baths, a 2-car garage, and a 2-car driveway. Recent work in that unit includes downstairs flooring, a kitchen backsplash, countertops, a sink, and stainless steel appliances.
Built in 1977, the property backs to the south end of KickingBird Golf Course and the community garden. The two-unit configuration, separate addresses, and combination of completed and recent improvements create a clearly defined duplex offering in Edmond.
Built in 1977, the property backs to the south end of KickingBird Golf Course and the community garden. The two-unit configuration, separate addresses, and combination of completed and recent improvements create a clearly defined duplex offering in Edmond.
Key Highlights
- Two‑unit duplex totaling 3,744 square feet
- 1931 Three Stars Rd: 1,771 sq ft, 3 bedrooms, 2 baths, and complete 2025 remodel
- 2001 Three Stars Rd: 1,973 sq ft, 3 bedrooms, and 2.5 baths
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
$23,823
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
5.29%
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%
$476,460
$476.5K
Cap Rate 7%
$340,329
$340.3K
Cap Rate 9%
$264,700
$264.7K
Market Conditions
NOI Build-Up for 3,744 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
$48.1K $12.84/SF
− Vacancy
−$4.8K −$1.27/SF
EGI
$43.3K $11.57/SF
− OpEx
−$19.5K −$5.21/SF
NOI
$23.8K $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%
$476,460
Cap Rate 7%
$340,329
Cap Rate 9%
$264,700
Alternative Uses
Best Use
Apartment 5plus
$340.3K
$297.8K – $397.1K
NOI $23,823 @ 7.0% cap · market cap 5.29%
Second Best
Multifamily LT 5
$325.0K
$284.4K – $379.1K
NOI $22,748 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$779.8K
$682.3K – $909.8K
NOI $54,586 @ 7.0% cap · market cap 12.13%
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
625
Businesses Nearby
Explore this area
Business Placement
Demographics for 73034, OK
47,553
Population
18,727
Households
2.5
Avg Household Size
37
Median Age
59%
College-Educated
96%
High-School Grad
51.7 sq mi
ZIP Area
920
Density / Sq Mi
$113,296
Median Household Income
$52,163
Median Earnings
$1,203
Median Rent
$368,000
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 updated units include private garages, driveways, and refreshed interior finishes.
Where is this duplex located?
The property is located at 1931 Three Stars Rd Edmond, OK.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,744 square feet; 1931 Three Stars Rd: 1,771 sq ft, 3 bedrooms, 2 baths, and complete 2025 remodel; 2001 Three Stars Rd: 1,973 sq ft, 3 bedrooms, and 2.5 baths
