Two-Unit
For Sale
$235,000
1932 Cherokee Lane Unit 1934, Norman, OK 73071
Each residence offers a two-bedroom, one-bath layout, with both units currently occupied by tenants.
Property Size1,564 SF
Price / SF$150.26
Days on Market42
Property Features for 1932 Cherokee Lane Unit 1934
General Information
Standard status
Active
Size
1,564 SF
Property subtype
Half Duplex
Occupancy
100%
Site & Location
Neighborhood
Faculty Heights
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,000
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$1,735
Building Details
Building Size
1,564 SF
Year Built
1960
Listing Agency:
MK Partners Inc
Listed By:
Steven McKenzie
(405) 314-6399
Source:
Baileecompany
Added: Sep 18
Changed: Oct 26
Last Checked: Oct 26 at 3:22PM
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 MK Partners Inc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,564-square-foot duplex was built in 1960 and contains two residences, each configured with two bedrooms and one bathroom. The property is offered as a complete duplex rather than as separate units.
Both residences are currently rented. The property is approximately a four-minute drive from OU Gaylord Stadium.
Both residences are currently rented. The property is approximately a four-minute drive from OU Gaylord Stadium.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,564 square feet; built in 1960
- Both units are currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,176
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$283,520
$283.5K
Cap Rate 7%
$202,514
$202.5K
Cap Rate 9%
$157,511
$157.5K
Market Conditions
NOI Build-Up for 1,564 SF
Gross rent
$21.6K $13.80/SF
− Vacancy
−$1.3K −$0.85/SF
EGI
$20.3K $12.95/SF
− OpEx
−$6.1K −$3.88/SF
NOI
$14.2K $9.06/SF
Area
Norman, OK
Vacancy
6.17%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$283,520
Cap Rate 7%
$202,514
Cap Rate 9%
$157,511
Alternative Uses
Best Use
Multifamily LT 5
$202.5K
$177.2K – $236.3K
NOI $14,176 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$186.1K
$162.9K – $217.2K
NOI $13,029 @ 7.0% cap · market cap 5.54%
Theoretical Best
Specialty Retail
$270.3K
$236.5K – $315.3K
NOI $18,918 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
296
Businesses Nearby
Explore this area
Business Placement
Demographics for 73071, OK
43,379
Population
19,192
Households
2.3
Avg Household Size
31
Median Age
42%
College-Educated
94%
High-School Grad
23.3 sq mi
ZIP Area
1,862
Density / Sq Mi
$59,258
Median Household Income
$32,830
Median Earnings
$1,059
Median Rent
$206,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers a two-bedroom, one-bath layout, with both units currently occupied by tenants.
Where is this duplex located?
The property is located at 1932 Cherokee Lane Unit 1934 Norman, OK.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,564 square feet; built in 1960; Both units are currently rented
