Duplex with Detached
For Sale
$365,000
2229 N Gatewood Ave, Oklahoma City, OK 73106
Tenant-occupied duplex with wood flooring, in-unit appliances, covered porch, and additional storage space.
Property Size2,816 SF
Price / SF$129.62
Days on Market58
Property Features for 2229 N Gatewood Ave
General Information
Standard status
Active
Size
2,816 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
wood floors
built-in dining table
electric stove
refrigerator
mud room
stackable washer/dryer
minisplit air conditioner
covered porch
detached garage
Building Details
Year Built
1946
Buildings
1
Listing Agency:
McGraw Davisson Stewart LLC(BO
Listed By:
Jennifer Elliston
(405) 746-0040
Source:
Kathleenforrest
Added: Sep 6
Changed: Oct 25
Last Checked: Oct 7 at 5:16PM
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 McGraw Davisson Stewart LLC(BO
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Investment Insights
Based on property information with market context.
Built in 1946, this 2,816-square-foot duplex combines wood flooring with practical residential features, including a built-in dining table, electric stove, refrigerator, mud room, and stackable washer and dryer. A mini-split air conditioner provides cooling, while the covered porch adds an outdoor area. The property also includes a detached garage for tenant use.
Located at 2229 N Gatewood Ave in Oklahoma City’s Gatewood addition, the duplex is currently tenant-occupied. Showings require one full day of advance notice.
Located at 2229 N Gatewood Ave in Oklahoma City’s Gatewood addition, the duplex is currently tenant-occupied. Showings require one full day of advance notice.
Key Highlights
- 2,816‑square‑foot duplex built in 1946
- Currently occupied by tenants
- Detached garage included for tenant use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,706
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$514,120
$514.1K
Cap Rate 7%
$367,229
$367.2K
Cap Rate 9%
$285,622
$285.6K
Market Conditions
NOI Build-Up for 2,816 SF
Gross rent
$38.9K $13.80/SF
− Vacancy
−$2.1K −$0.76/SF
EGI
$36.7K $13.04/SF
− OpEx
−$11.0K −$3.91/SF
NOI
$25.7K $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 Rate 5%
$514,120
Cap Rate 7%
$367,229
Cap Rate 9%
$285,622
Alternative Uses
Best Use
Multifamily LT 5
$367.2K
$321.3K – $428.4K
NOI $25,706 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$339.8K
$297.3K – $396.4K
NOI $23,786 @ 7.0% cap · market cap 6.52%
Theoretical Best
Specialty Retail
$963.1K
$842.7K – $1.12M
NOI $67,415 @ 7.0% cap · market cap 18.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,001
Businesses Nearby
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Business Placement
Demographics for 73106, OK
12,956
Population
6,069
Households
2.1
Avg Household Size
32
Median Age
40%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
4,319
Density / Sq Mi
$51,934
Median Household Income
$32,145
Median Earnings
$1,050
Median Rent
$262,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied duplex with wood flooring, in-unit appliances, covered porch, and additional storage space.
Where is this duplex located?
The property is located at 2229 N Gatewood Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 2,816‑square‑foot duplex built in 1946; Currently occupied by tenants; Detached garage included for tenant use
