Turnkey Duplex with Attached
For Sale
$295,000
Pending
229 Windsor Way, Oklahoma City, OK 73110
Refreshed duplex featuring updated interiors, in-unit laundry, and a one-car attached garage on each side.
Property Size2,288 SF
Days on Market65
Property Features for 229 Windsor Way
General Information
Standard status
Pending
Size
2,288 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$642
Building Details
Building Size
2,288 SF
Year Built
1983
Listing Agency:
Salt Real Estate Inc
Listed By:
Ciara Whitney
(405) 990-8561
Source:
Stetsonbentley
Added: Jul 25
Changed: Sep 23
Last Checked: Sep 26 at 11:42AM
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 Salt Real Estate Inc
Investment Insights
Based on property information with market context.
This turnkey duplex offers a functional two-unit layout with a 3-bedroom, 2-bath configuration per side. Interiors have been completely refreshed, including modern LVP flooring and fresh paint throughout both units, along with upgraded kitchens and baths featuring new countertops, a tile backsplash, refreshed white cabinetry, brand-new toilets, and an in-unit laundry room. Each side includes pantry storage in the kitchen and a dedicated dining space, supported by pass-through kitchen bars and sliding patio doors.
Both sides also provide a private attached one-car garage, for a total of six bedrooms and four bathrooms across the property. The duplex was built in 1983.
A brand-new roof will be installed prior to closing. The buyer is advised to verify all school information; the Crutcho Public School District is listed as the school district on the tax assessor listing for this property.
Both sides also provide a private attached one-car garage, for a total of six bedrooms and four bathrooms across the property. The duplex was built in 1983.
A brand-new roof will be installed prior to closing. The buyer is advised to verify all school information; the Crutcho Public School District is listed as the school district on the tax assessor listing for this property.
Key Highlights
- Refreshed turnkey duplex built in 1983
- 3‑bedroom, 2‑bath layout on each side
- In‑unit laundry room and kitchen pantry
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
$20,886
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
7.08%
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%
$417,720
$417.7K
Cap Rate 7%
$298,371
$298.4K
Cap Rate 9%
$232,067
$232.1K
Market Conditions
NOI Build-Up for 2,288 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
$31.6K $13.80/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$29.8K $13.04/SF
− OpEx
−$9.0K −$3.91/SF
NOI
$20.9K $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%
$417,720
Cap Rate 7%
$298,371
Cap Rate 9%
$232,067
Alternative Uses
Best Use
Multifamily LT 5
$298.4K
$261.1K – $348.1K
NOI $20,886 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$276.1K
$241.6K – $322.1K
NOI $19,326 @ 7.0% cap · market cap 6.55%
Theoretical Best
Specialty Retail
$782.5K
$684.7K – $912.9K
NOI $54,775 @ 7.0% cap · market cap 18.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
146
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Refreshed duplex featuring updated interiors, in-unit laundry, and a one-car attached garage on each side.
Where is this duplex located?
The property is located at 229 Windsor Way Oklahoma City, OK.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Refreshed turnkey duplex built in 1983; 3‑bedroom, 2‑bath layout on each side; In‑unit laundry room and kitchen pantry
