Occupied Quadplex with
For Sale
Contact for pricing
197 ANTRY DR, Catoosa, OK 74015
Four occupied townhomes provide a mixed one- and three-bedroom unit configuration with individual outdoor living areas.
Property Size4,632 SF
Lot Size0.25 Acres
Price / SF$103.63
Days on Market8
Property Features for 197 ANTRY DR
General Information
Standard status
Active
Size
4,632 SF
Lot size
0.25 Acres
Property subtype
Multifamily
Units
Unit Mix
2 x 1BR/1BA (720 sf), 2 x 3BR/2BA (1,596 sf)
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Amenities
wood deck or balcony
shared concrete access
mature trees
professional landscaping
sidewalks and gutters
Building Details
Year Built
1986
Buildings
4
Construction
wood frame
Listing Agency:
Coldwell Banker Select Real Estate Midtown
Listed By:
David Roberts · License #OK
Source:
Crexi
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 20 at 7:26AM
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 Coldwell Banker Select Real Estate Midtown
Investment Insights
Based on property information with market context.
This quadplex comprises four separate occupied townhomes at 191, 193, 195, and 197 Antry Dr. The unit mix includes two one-bedroom, one-bath residences of approximately 720 square feet each and two three-bedroom, two-bath residences of approximately 1,596 square feet each, totaling approximately 4,632 square feet. Each home includes a living area, kitchen, wood deck or balcony, and detached covered carport parking.
Built in 1986, the property has slab foundations, wood-frame construction, partial brick and wood exteriors, composition roofing, central heat and air, and city water and sewer. Shared concrete access, sidewalks, gutters, mature trees, and professional landscaping serve the property. The townhomes occupy multiple parcels totaling approximately 0.25 acre within the Spunky Ridge Addition and Catoosa School District.
The building owner is responsible for one-sixth of common-area costs associated with the one-acre common area shared among six buildings. The building’s stated share is approximately 0.1667 acre.
Built in 1986, the property has slab foundations, wood-frame construction, partial brick and wood exteriors, composition roofing, central heat and air, and city water and sewer. Shared concrete access, sidewalks, gutters, mature trees, and professional landscaping serve the property. The townhomes occupy multiple parcels totaling approximately 0.25 acre within the Spunky Ridge Addition and Catoosa School District.
The building owner is responsible for one-sixth of common-area costs associated with the one-acre common area shared among six buildings. The building’s stated share is approximately 0.1667 acre.
Key Highlights
- Four occupied townhomes at 191, 193, 195, and 197 Antry Dr
- Unit mix includes two 1‑bedroom, 1‑bath units and two 3‑bedroom, 2‑bath units
- Approximately 4,632 total square feet, including units of approximately 720 and 1,596 square feet
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
$30,878
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
6.43%
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%
$617,560
$617.6K
Cap Rate 7%
$441,114
$441.1K
Cap Rate 9%
$343,089
$343.1K
Market Conditions
NOI Build-Up for 4,632 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
$63.4K $13.68/SF
− Vacancy
−$7.2K −$1.56/SF
EGI
$56.1K $12.12/SF
− OpEx
−$25.3K −$5.45/SF
NOI
$30.9K $6.67/SF
Area
Rogers County, OK
Vacancy
11.40%
Lease Rate
$13.68 /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%
$617,560
Cap Rate 7%
$441,114
Cap Rate 9%
$343,089
Alternative Uses
Best Use
Apartment 5plus
$441.1K
$386.0K – $514.6K
NOI $30,878 @ 7.0% cap · market cap 6.43%
Second Best
Multifamily LT 5
$371.7K
$325.3K – $433.7K
NOI $26,021 @ 7.0% cap · market cap 5.42%
Theoretical Best
Specialty Retail
$1.16M
$1.02M – $1.35M
NOI $81,208 @ 7.0% cap · market cap 16.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
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Business Placement
Demographics for 74015, OK
8,270
Population
3,578
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
88%
High-School Grad
60.3 sq mi
ZIP Area
137
Density / Sq Mi
$72,688
Median Household Income
$44,256
Median Earnings
$1,052
Median Rent
$211,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied townhomes provide a mixed one- and three-bedroom unit configuration with individual outdoor living areas.
Where is this quadplex located?
The property is located at 197 ANTRY DR Catoosa, OK.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Four occupied townhomes at 191, 193, 195, and 197 Antry Dr; Unit mix includes two 1‑bedroom, 1‑bath units and two 3‑bedroom, 2‑bath units; Approximately 4,632 total square feet, including units of approximately 720 and 1,596 square feet
