Renovated Two-Unit
New
For Sale
$195,000
2137 NW 12th St, Oklahoma City, OK 73107
Two separately configured units feature private laundry and high-efficiency mini-split systems.
Property Size1,560 SF
Price / SF$125
Days on Market6
Property Features for 2137 NW 12th St
General Information
Standard status
Active
Size
1,560 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
in-unit laundry
high efficiency mini splits
Building Details
Year Built
1937
Listing Agency:
Spearhead Realty Group LLC
(405) 514-8725
Listed By:
Nickalas Reynolds Tran · License #207757
Source:
Alloverok
Added: Aug 24
Changed: Aug 27
Last Checked: Aug 28 at 1:08PM
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 Spearhead Realty Group LLC
Investment Insights
Based on property information with market context.
This duplex at 2137 NW 12th St in Oklahoma City contains 1,560 square feet arranged as two residential units. The lower unit offers one bedroom and one bathroom, while the upper unit includes two bedrooms and one bathroom. Each unit has its own in-unit laundry, and both have brand-new high-efficiency mini-split systems. Updates have been completed throughout the property.
Built in 1937, the property is near the highway on a boulevard-style street. Nearby residential construction and renovation activity contribute to an actively changing surrounding area. The two-level configuration supports separate occupancy, with unit layouts suited to distinct household needs.
Built in 1937, the property is near the highway on a boulevard-style street. Nearby residential construction and renovation activity contribute to an actively changing surrounding area. The two-level configuration supports separate occupancy, with unit layouts suited to distinct household needs.
Key Highlights
- 1,560‑square‑foot duplex with one lower‑level 1BR/1Ba unit and one upper‑level 2BR/1Ba unit
- Private in‑unit laundry provided for both residences
- Brand‑new high‑efficiency mini‑split systems in each unit
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
$14,241
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
7.30%
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%
$284,820
$284.8K
Cap Rate 7%
$203,443
$203.4K
Cap Rate 9%
$158,233
$158.2K
Market Conditions
NOI Build-Up for 1,560 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
$21.5K $13.80/SF
− Vacancy
−$1.2K −$0.76/SF
EGI
$20.3K $13.04/SF
− OpEx
−$6.1K −$3.91/SF
NOI
$14.2K $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%
$284,820
Cap Rate 7%
$203,443
Cap Rate 9%
$158,233
Alternative Uses
Best Use
Multifamily LT 5
$203.4K
$178.0K – $237.4K
NOI $14,241 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$188.2K
$164.7K – $219.6K
NOI $13,177 @ 7.0% cap · market cap 6.76%
Theoretical Best
Specialty Retail
$533.5K
$466.8K – $622.4K
NOI $37,346 @ 7.0% cap · market cap 19.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
Explore this area
Business Placement
Demographics for 73107, OK
26,318
Population
12,621
Households
2.1
Avg Household Size
34
Median Age
31%
College-Educated
80%
High-School Grad
7.6 sq mi
ZIP Area
3,463
Density / Sq Mi
$58,428
Median Household Income
$38,753
Median Earnings
$1,014
Median Rent
$143,000
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 separately configured units feature private laundry and high-efficiency mini-split systems.
Where is this duplex located?
The property is located at 2137 NW 12th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 1,560‑square‑foot duplex with one lower‑level 1BR/1Ba unit and one upper‑level 2BR/1Ba unit; Private in‑unit laundry provided for both residences; Brand‑new high‑efficiency mini‑split systems in each unit
