Two-Unit Duplex With Newer
For Sale
$429,900
2261 Donna Drive #2263, Norman, OK 73071
Both two-bedroom, one-bath units have established tenants, while select remodeling has already been completed.
Property Size3,524 SF
Days on Market17
Property Features for 2261 Donna Drive #2263
General Information
Standard status
Active
Size
3,524 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,759
Building Details
Building Size
3,524 SF
Year Built
1977
Tenancy
Multi
Listing Agency:
Cornerstone Realty
(580) 272-7352
Listed By:
Tamara Rudd
(580) 272-7352
Source:
Jarmanrealtyok
Added: Aug 7
Changed: Aug 21
Last Checked: Aug 23 at 12:33PM
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 Cornerstone Realty
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each configured with 2 bedrooms and 1 bathroom. The property was built in 1977 and has received some remodeling, while the sale is offered in AS-IS condition. A roof installed 3 years ago provides a recent building improvement.
Located very close to OU, the property currently has two long-term tenants in place. Lease arrangements will be negotiated with the new owner, providing an opportunity to address occupancy terms as part of the transaction. The existing two-unit configuration and established tenancy are central features of the property.
Located very close to OU, the property currently has two long-term tenants in place. Lease arrangements will be negotiated with the new owner, providing an opportunity to address occupancy terms as part of the transaction. The existing two-unit configuration and established tenancy are central features of the property.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit
- Two long‑term tenants currently occupy the property
- Roof is 3 years old
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
$31,941
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
7.43%
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%
$638,820
$638.8K
Cap Rate 7%
$456,300
$456.3K
Cap Rate 9%
$354,900
$354.9K
Market Conditions
NOI Build-Up for 3,524 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
$48.6K $13.80/SF
− Vacancy
−$3.0K −$0.85/SF
EGI
$45.6K $12.95/SF
− OpEx
−$13.7K −$3.88/SF
NOI
$31.9K $9.06/SF
Area
Norman, OK
Vacancy
6.17%
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%
$638,820
Cap Rate 7%
$456,300
Cap Rate 9%
$354,900
Alternative Uses
Best Use
Multifamily LT 5
$456.3K
$399.3K – $532.4K
NOI $31,941 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$419.4K
$367.0K – $489.3K
NOI $29,358 @ 7.0% cap · market cap 6.83%
Theoretical Best
Specialty Retail
$608.9K
$532.8K – $710.4K
NOI $42,626 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Explore this area
Business Placement
Demographics for 73071, OK
43,379
Population
19,192
Households
2.3
Avg Household Size
31
Median Age
42%
College-Educated
94%
High-School Grad
23.3 sq mi
ZIP Area
1,862
Density / Sq Mi
$59,258
Median Household Income
$32,830
Median Earnings
$1,059
Median Rent
$206,600
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 - Both two-bedroom, one-bath units have established tenants, while select remodeling has already been completed.
Where is this duplex located?
The property is located at 2261 Donna Drive #2263 Norman, OK.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit; Two long‑term tenants currently occupy the property; Roof is 3 years old
