Updated Half-Duplex
New
For Sale
$149,000
2133 Meench Dr, Oklahoma City, OK 73170
Refreshed two-bedroom residence with attached garage, covered patio, and fenced backyard.
Property Size1,004 SF
Price / SF$148.41
Days on Market7
Property Features for 2133 Meench Dr
General Information
Standard status
Active
Size
1,004 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
garage
covered back patio
fenced backyard
Building Details
Year Built
1984
Listing Agency:
Pam Robinson Real Estate
(405) 382-7653
Listed By:
Homestead & Co
(405) 509-0541
Source:
Homesteadrealtyco
Added: Sep 1
Changed: Sep 6
Last Checked: Sep 7 at 6:56AM
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 Pam Robinson Real Estate
Investment Insights
Based on property information with market context.
This 1,004-square-foot half duplex, built in 1984, provides a two-bedroom, two-bath layout with a series of recent interior improvements. New paint, flooring, and light fixtures create an updated presentation, while the kitchen includes a brand-new microwave and the refrigerator remains with the property. Bathroom enhancements include an upgraded countertop.
Exterior features include a one-car garage, driveway parking, and a covered back patio opening toward the fenced backyard. A new roof is scheduled for installation before closing. The property is located near I-35, shopping, dining, and area amenities in Oklahoma City.
Exterior features include a one-car garage, driveway parking, and a covered back patio opening toward the fenced backyard. A new roof is scheduled for installation before closing. The property is located near I-35, shopping, dining, and area amenities in Oklahoma City.
Key Highlights
- 1,004 SF half duplex with 2 bedrooms and 2 bathrooms
- New paint, flooring, and light fixtures throughout the interior
- Kitchen includes a brand‑new microwave; refrigerator stays
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
$8,561
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
5.75%
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%
$171,220
$171.2K
Cap Rate 7%
$122,300
$122.3K
Cap Rate 9%
$95,122
$95.1K
Market Conditions
NOI Build-Up for 1,004 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
$16.4K $16.32/SF
− Vacancy
−$819 −$0.82/SF
EGI
$15.6K $15.50/SF
− OpEx
−$7.0K −$6.98/SF
NOI
$8.6K $8.53/SF
Area
ZIP 73170
Vacancy
5.00%
Lease Rate
$16.32 /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%
$171,220
Cap Rate 7%
$122,300
Cap Rate 9%
$95,122
Alternative Uses
Best Use
Apartment 5plus
$122.3K
$107.0K – $142.7K
NOI $8,561 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$408.4K
$357.3K – $476.4K
NOI $28,585 @ 7.0% cap · market cap 19.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
Explore this area
Business Placement
Demographics for 73170, OK
41,343
Population
16,658
Households
2.5
Avg Household Size
40
Median Age
37%
College-Educated
94%
High-School Grad
21.0 sq mi
ZIP Area
1,969
Density / Sq Mi
$92,403
Median Household Income
$44,653
Median Earnings
$1,525
Median Rent
$249,800
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?
Multifamily property - Refreshed two-bedroom residence with attached garage, covered patio, and fenced backyard.
Where is this multifamily property located?
The property is located at 2133 Meench Dr Oklahoma City, OK.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: 1,004 SF half duplex with 2 bedrooms and 2 bathrooms; New paint, flooring, and light fixtures throughout the interior; Kitchen includes a brand‑new microwave; refrigerator stays
