Duplex with Two Separate
For Sale
$323,000
2004 NW 27th Street, Oklahoma City, OK 73106
Residential Income, Oklahoma City, OK
Property Size2,228 SF
Lot Size0.16 Acres
Price / SF$144.97
Days on Market181
Property Features for 2004 NW 27th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 1
Parking
4
Appliances
Dishwasher, Water Heater
Lot features
Interior Lot
Elementary school
Eugene Field ES
Middle school
Moon MS
High school
Douglass HS
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
From N Penn and NW 27th, go East. The home is on the right hand.
Standard status
Active
APN
2004NW27th73106
Size
2,228 SF
Lot size
0.16 Acres
Utilities
Heating system
Natural Gas
Cooling system
Electric
Building Details
Year built
2008
Floors in Building
1
Building materials
Brick, Brick & Frame
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
Spearhead Realty Group LLC
(405) 493-8144
Listed By:
Thao Nguyen-Pham · License #200060
(405) 514-0930
Added: Mar 4
Changed: Aug 31
Last Checked: Sep 1 at 1:06PM
MLS# 1217109
Copyright © 2026 MLSOK, 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 ranch-style duplex at 2004 NW 27th Street includes two separate residences on one parcel, offering a combined 2228 square feet of living area. The front home contains two bedrooms and two bathrooms and is occupied, while the rear home provides one bedroom and one bathroom and is vacant. The property was built in 2008 and includes shingle roofing, brick and frame construction materials, natural gas heating, and electric cooling.
Set in Oklahoma City, the property is near Oklahoma City University, Uptown, Downtown, and major highways. The 0.1607-acre parcel places both homes within a compact residential-income configuration, with distinct front and rear dwellings.
Set in Oklahoma City, the property is near Oklahoma City University, Uptown, Downtown, and major highways. The 0.1607-acre parcel places both homes within a compact residential-income configuration, with distinct front and rear dwellings.
Key Highlights
- Two separate homes situated on one lot
- Combined property size of 2228 square feet
- Front residence has 2 bedrooms and 2 bathrooms
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
$20,339
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
6.30%
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%
$406,780
$406.8K
Cap Rate 7%
$290,557
$290.6K
Cap Rate 9%
$225,989
$226.0K
Market Conditions
NOI Build-Up for 2,228 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
$30.7K $13.80/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$29.1K $13.04/SF
− OpEx
−$8.7K −$3.91/SF
NOI
$20.3K $9.13/SF
Area
Oklahoma City, OK
Vacancy
5.50%
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%
$406,780
Cap Rate 7%
$290,557
Cap Rate 9%
$225,989
Alternative Uses
Best Use
Multifamily LT 5
$290.6K
$254.2K – $339.0K
NOI $20,339 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$268.8K
$235.2K – $313.7K
NOI $18,819 @ 7.0% cap · market cap 5.83%
Theoretical Best
Specialty Retail
$762.0K
$666.7K – $889.0K
NOI $53,338 @ 7.0% cap · market cap 16.51%
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
728
Businesses Nearby
Explore this area
Business Placement
Demographics for 73106, OK
12,956
Population
6,069
Households
2.1
Avg Household Size
32
Median Age
40%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
4,319
Density / Sq Mi
$51,934
Median Household Income
$32,145
Median Earnings
$1,050
Median Rent
$262,500
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 independent residences combine a two-bedroom, two-bath home with a one-bedroom, one-bath home.
Where is this duplex located?
The property is located at 2004 NW 27th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $323,000.
What are key features of this property?
This property features: Two separate homes situated on one lot; Combined property size of 2228 square feet; Front residence has 2 bedrooms and 2 bathrooms
