Bungalow Redevelopment
For Sale
$364,500
224 N Blackwelder Avenue, Edmond, OK 73034
MULTI_FAMILY - Bungalow - Edmond, OK
Property Size1,754 SF
Lot Size0.32 Acres
Price / SF$207.81
Days on Market48
Property Features for 224 N Blackwelder Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Lot features
Corner Lot, Interior Lot
Elementary school
Northern Hills ES
Middle school
Sequoyah MS
High school
North HS
Elementary school district
Edmond
Middle school district
Edmond
High school district
Edmond
Directions
From Blackwelder Ave and Ayers go S on Blackwelder to Campbell. Property is on the SE side of the street.
Standard status
Active
APN
224NBlackwelder73034
Size
1,754 SF
Lot size
0.32 Acres
Building Details
Year built
1962
Building materials
Frame
Roof type
Composition
Architectural style
Bungalow
Listing Agency:
OK Flat Fee Realty
(405) 759-8448
Listed By:
Chance Daggs · License #177744
(405) 759-8448
Added: Jun 19
Changed: Jul 30
Last Checked: Aug 5 at 7:06PM
MLS# 1235597
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 listing offers two properties being sold together: 222 and 224 N Blackwelder Avenue, each currently improved with a single-family structure. The site totals approximately 0.32 acres (about 14,000 square feet) and includes two existing bungalows with sizes of 1,034 square feet and 720 square feet. The property is described as level and infrastructure-ready with major utilities currently present.
The assembly is reported as strategically zoned C-2 (Neighborhood Commercial) and part of Edmond’s PUD, providing flexibility compared to standard residential lots. The location is stated to be near University of Central Oklahoma (UCO) and the Downtown Edmond district, with access mentioned to the Railyard, local shopping, and the Edmond Farmers Market.
All major details are subject to buyer verification. Buyer is instructed to confirm zoning ordinances, school districts, and specific building requirements with the City of Edmond.
The assembly is reported as strategically zoned C-2 (Neighborhood Commercial) and part of Edmond’s PUD, providing flexibility compared to standard residential lots. The location is stated to be near University of Central Oklahoma (UCO) and the Downtown Edmond district, with access mentioned to the Railyard, local shopping, and the Edmond Farmers Market.
All major details are subject to buyer verification. Buyer is instructed to confirm zoning ordinances, school districts, and specific building requirements with the City of Edmond.
Key Highlights
- Two properties included: 222 and 224 N Blackwelder Ave, offered together for $379,900
- Total site size of approx. 0.32 acres (about 14,000 SF) with level terrain
- Zoned C‑2 (Neighborhood Commercial) and part of Edmond’s PUD for redevelopment flexibility
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.5k | $12.84 |
| − Vacancy | −$2.2k | −$1.27 |
| EGI | $20.3k | $11.57 |
| − OpEx | −$9.1k | −$5.21 |
| NOI | $11.2k | $6.36 |
1,754 SF · lease $12.84/SF/yr · vacancy 9.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$159.4K
$139.5K – $186.0K
NOI $11,160 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$365.3K
$319.7K – $426.2K
NOI $25,573 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Explore this area
Business Placement
Demographics for 73034, OK
47,553
Population
18,727
Households
2.5
Avg Household Size
37
Median Age
59%
College-Educated
96%
High-School Grad
51.7 sq mi
ZIP Area
920
Density / Sq Mi
$113,296
Median Household Income
$52,163
Median Earnings
$1,203
Median Rent
$368,000
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?
Single family property - Two assembled bungalow properties totaling about 0.32 acres are listed together at 222 and 224 N Blackwelder Ave.
Where is this single family property located?
The property is located at 224 N Blackwelder Avenue Edmond, OK.
What is the asking price?
The asking price for this property is $364,500.
What are key features of this property?
This property features: Two properties included: 222 and 224 N Blackwelder Ave, offered together for $379,900; Total site size of approx. 0.32 acres (about 14,000 SF) with level terrain; Zoned C‑2 (Neighborhood Commercial) and part of Edmond’s PUD for redevelopment flexibility
