Remodeled Duplex Near
For Sale
$129,000
219 Park Place, Midwest City, OK 73110
Residential, Midwest City, OK
Property Size1,267 SF
Lot Size0.10 Acres
Price / SF$101.82
Days on Market12
Property Features for 219 Park Place
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3
Window features
Window Treatments
Patio and Porch features
Patio
Interior features
Combo Woodwork
Appliances
Dishwasher
Lot features
Cul-De-Sac, Interior Lot
Elementary school
Soldier Creek ES
Middle school
Carl Albert MS
High school
Carl Albert HS
Elementary school district
Midwest City/Del City
Middle school district
Midwest City/Del City
High school district
Midwest City/Del City
Directions
From Reno & Douglas Blvd, go West on Reno to Park Place / Turn North and follow to the cul-de-sac
Standard status
Active
APN
219NONEPark73110
Size
1,267 SF
Lot size
0.10 Acres
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas
Cooling system
Electric
Building Details
Year built
1979
Flooring type
Vinyl, Carpet
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
KING Real Estate Group
(405) 739-0550
Listed By:
Karen King · License #122366
(405) 834-1057
Added: Sep 15
Changed: Sep 24
Last Checked: Sep 26 at 7:06AM
MLS# 1249044
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 duplex offers 1,267 square feet on a 0.0992-acre lot, with three bedrooms and two bathrooms. The 1979 property combines brick and frame construction with fresh paint, updated flooring, privacy fencing, and new HVAC systems. Interior features include carpet and vinyl flooring, combo woodwork, a dishwasher, natural gas heating, electric cooling, and a patio. The composition roof and natural gas availability complete the existing improvements.
Located at 219 Park Place in Midwest City, the property is near Tinker Air Force Base, Downtown OKC, a park, shopping, and other nearby destinations. Its quiet cul-de-sac location adds a residential setting while keeping those surrounding amenities close at hand.
Located at 219 Park Place in Midwest City, the property is near Tinker Air Force Base, Downtown OKC, a park, shopping, and other nearby destinations. Its quiet cul-de-sac location adds a residential setting while keeping those surrounding amenities close at hand.
Key Highlights
- 1,267‑square‑foot duplex on a 0.0992‑acre lot
- Three bedrooms and two bathrooms
- Recently remodeled with fresh paint and updated flooring
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
$8,062
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
6.25%
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%
$161,240
$161.2K
Cap Rate 7%
$115,171
$115.2K
Cap Rate 9%
$89,578
$89.6K
Market Conditions
NOI Build-Up for 1,267 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
$16.3K $12.84/SF
− Vacancy
−$1.6K −$1.27/SF
EGI
$14.7K $11.57/SF
− OpEx
−$6.6K −$5.21/SF
NOI
$8.1K $6.36/SF
Area
Oklahoma County, OK
Vacancy
9.90%
Lease Rate
$12.84 /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%
$161,240
Cap Rate 7%
$115,171
Cap Rate 9%
$89,578
Alternative Uses
Best Use
Apartment 5plus
$115.2K
$100.8K – $134.4K
NOI $8,062 @ 7.0% cap · market cap 6.25%
Second Best
Multifamily LT 5
$110.0K
$96.2K – $128.3K
NOI $7,698 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$263.9K
$230.9K – $307.9K
NOI $18,472 @ 7.0% cap · market cap 14.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
Explore this area
Business Placement
Demographics for 73110, OK
33,156
Population
15,826
Households
2.1
Avg Household Size
35
Median Age
20%
College-Educated
91%
High-School Grad
15.5 sq mi
ZIP Area
2,139
Density / Sq Mi
$50,436
Median Household Income
$35,043
Median Earnings
$1,007
Median Rent
$119,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Updated duplex with privacy fencing, new HVAC systems, and a cul-de-sac setting near Tinker Air Force Base.
Where is this duplex located?
The property is located at 219 Park Place Midwest City, OK.
What is the asking price?
The asking price for this property is $129,000.
What are key features of this property?
This property features: 1,267‑square‑foot duplex on a 0.0992‑acre lot; Three bedrooms and two bathrooms; Recently remodeled with fresh paint and updated flooring
