Renovated Two-Unit
For Sale
$195,000
2137 NW 12th Street, Oklahoma City, OK 73107
Residential Income, Oklahoma City, OK
Property Size1,560 SF
Lot Size0.16 Acres
Price / SF$125
Days on Market68
Property Features for 2137 NW 12th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1
Lot features
Interior Lot
Elementary school
Hawthorne ES
Middle school
Taft MS
High school
Northwest Classen HS
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
From N Penn ave, turn west onto NW 12th. Property is on the right. Use google maps for directions.
Standard status
Active
APN
2137NW12th73107
Size
1,560 SF
Lot size
0.16 Acres
Utilities
Heating system
Zoned
Cooling system
Zoned
Amenities
in-unit laundry
Building Details
Year built
1937
Floors in Building
2
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
Spearhead Realty Group LLC
(405) 493-8144
Listed By:
Nickalas Reynolds Tran · License #207757
(405) 514-8725
Added: Jun 17
Changed: Aug 21
Last Checked: Aug 23 at 6:06PM
MLS# 1235129
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 1,560-square-foot duplex contains two separate residences: a 1-bedroom, 1-bathroom lower unit and a 2-bedroom, 1-bathroom upper unit. Both apartments include in-unit laundry, zoned heating and cooling, and high-efficiency mini-split systems. Updates have been completed throughout the property, which features vinyl siding, a shingle roof, and Colonial architectural styling.
Constructed in 1937, the property occupies 0.1607 acres at 2137 NW 12th Street in Oklahoma City. The site is near a highway and sits along a boulevard-style street. Its two-unit layout provides distinct living spaces within a compact residential income property.
Constructed in 1937, the property occupies 0.1607 acres at 2137 NW 12th Street in Oklahoma City. The site is near a highway and sits along a boulevard-style street. Its two-unit layout provides distinct living spaces within a compact residential income property.
Key Highlights
- Two‑unit duplex with a 1BR/1Ba lower residence and 2BR/1Ba upper residence
- 1,560 SF building on a 0.1607‑acre lot
- In‑unit laundry provided in both residences
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Updated income property with separate laundry and zoned heating and cooling in each residence.
Where is this duplex located?
The property is located at 2137 NW 12th Street 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: Two‑unit duplex with a 1BR/1Ba lower residence and 2BR/1Ba upper residence; 1,560 SF building on a 0.1607‑acre lot; In‑unit laundry provided in both residences
