Newly Built Duplex with Modern
For Sale
$358,000
2123 Sw Mckinley Ave, Lawton, OK 73501
Fully leased duplex with two-bedroom?
Property Size2,300 SF
Price / SF$155.65
Days on Market12
Property Features for 2123 Sw Mckinley Ave
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
covered front porch
luxury vinyl tile flooring
granite countertops
center island
breakfast bar
pantry
stainless steel appliances
walk-in closet
dual sinks
tiled shower
linen storage
fully fenced backyard
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Cadence Real Estate
(405) 633-2661
Listed By:
Kathryn Thompson
(405) 313-8239
Source:
Exprealty
Added: Sep 10
Changed: Sep 18
Last Checked: Sep 20 at 11:59AM
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 Cadence Real Estate
Investment Insights
Based on property information with market context.
This newly built duplex contains 2,300 square feet with two residential units, each arranged with three bedrooms and two bathrooms. Both residences feature open living and kitchen areas, luxury vinyl tile flooring, granite countertops, stainless steel appliances, a center island with breakfast bar, and a pantry. Each primary suite includes a walk-in closet and private bathroom with dual sinks and a tiled shower. Covered front porches, linen storage, and fully fenced backyards add practical features to the design.
The property is fully leased and includes a functional floor plan suited to residential income use. Each unit also provides two additional bedrooms that can serve household, guest, or office needs, along with a second full bathroom.
The property is fully leased and includes a functional floor plan suited to residential income use. Each unit also provides two additional bedrooms that can serve household, guest, or office needs, along with a second full bathroom.
Key Highlights
- 2,300‑square‑foot duplex with two 3‑bedroom, 2‑bathroom units
- Newly built property with open‑concept residential layouts
- Granite countertops, luxury vinyl tile flooring, and stainless steel appliances
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
$12,795
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
3.57%
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%
$255,900
$255.9K
Cap Rate 7%
$182,786
$182.8K
Cap Rate 9%
$142,167
$142.2K
Market Conditions
NOI Build-Up for 2,300 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
$20.7K $9.00/SF
− Vacancy
−$2.4K −$1.05/SF
EGI
$18.3K $7.95/SF
− OpEx
−$5.5K −$2.38/SF
NOI
$12.8K $5.56/SF
Area
Comanche County, OK
Vacancy
11.70%
Lease Rate
$9.00 /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%
$255,900
Cap Rate 7%
$182,786
Cap Rate 9%
$142,167
Alternative Uses
Best Use
Multifamily LT 5
$182.8K
$159.9K – $213.3K
NOI $12,795 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$160.9K
$140.8K – $187.7K
NOI $11,264 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$565.6K
$494.9K – $659.9K
NOI $39,592 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
Explore this area
Business Placement
Demographics for 73501, OK
19,158
Population
9,216
Households
2.1
Avg Household Size
37
Median Age
16%
College-Educated
87%
High-School Grad
105.0 sq mi
ZIP Area
182
Density / Sq Mi
$49,061
Median Household Income
$31,399
Median Earnings
$831
Median Rent
$119,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Duplex - Fully leased duplex with two-bedroom?
Where is this duplex located?
The property is located at 2123 Sw Mckinley Ave Lawton, OK.
What is the asking price?
The asking price for this property is $358,000.
What are key features of this property?
This property features: 2,300‑square‑foot duplex with two 3‑bedroom, 2‑bathroom units; Newly built property with open‑concept residential layouts; Granite countertops, luxury vinyl tile flooring, and stainless steel appliances
