Renovated Duplex with Development
For Sale
$459,000
230 E Lincoln Avenue, Edmond, OK 73034
Recently renovated two-unit property with approved multifamily zoning and proximity to the UCO campus.
Property Size2,064 SF
Days on Market54
Property Features for 230 E Lincoln Avenue
General Information
Standard status
Active
Size
2,064 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$862
Building Details
Building Size
2,064 SF
Year Built
1910
Listing Agency:
RE/MAX Preferred
Listed By:
Paul Brooks · License #116430
(405) 990-0548
Source:
Stetsonbentley
Added: Aug 21
Changed: Oct 11
Last Checked: Oct 12 at 11:39PM
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 RE/MAX Preferred
Investment Insights
Based on property information with market context.
This vacant duplex combines a recently renovated front building with a two-bedroom, one-bath upper unit and a one-bedroom, one-bath lower unit. Renovation work included plumbing, electrical systems, windows, and cosmetic improvements, providing updated interiors across both residences. The property was built in 1910 and occupies two lots.
Rezoning has been completed, with provisions allowing up to three additional multifamily structures. Plans and zoning information are available in the supplemental materials. The property is near the UCO campus and within the area covered by Edmond’s approved University District plan, which calls for changes and revitalization in the surrounding district.
Rezoning has been completed, with provisions allowing up to three additional multifamily structures. Plans and zoning information are available in the supplemental materials. The property is near the UCO campus and within the area covered by Edmond’s approved University District plan, which calls for changes and revitalization in the surrounding district.
Key Highlights
- Recently renovated duplex with updated plumbing, electrical, windows, and cosmetic finishes
- Two units: 2 bed/1 bath upstairs and 1 bed/1 bath downstairs
- Two‑lot property with zoning allowing up to 3 additional multifamily structures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,133
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$262,660
$262.7K
Cap Rate 7%
$187,614
$187.6K
Cap Rate 9%
$145,922
$145.9K
Market Conditions
NOI Build-Up for 2,064 SF
Gross rent
$26.5K $12.84/SF
− Vacancy
−$2.6K −$1.27/SF
EGI
$23.9K $11.57/SF
− OpEx
−$10.7K −$5.21/SF
NOI
$13.1K $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 Rate 5%
$262,660
Cap Rate 7%
$187,614
Cap Rate 9%
$145,922
Alternative Uses
Best Use
Apartment 5plus
$187.6K
$164.2K – $218.9K
NOI $13,133 @ 7.0% cap · market cap 2.86%
Second Best
Multifamily LT 5
$179.2K
$156.8K – $209.0K
NOI $12,541 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$429.9K
$376.2K – $501.6K
NOI $30,093 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
796
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Recently renovated two-unit property with approved multifamily zoning and proximity to the UCO campus.
Where is this duplex located?
The property is located at 230 E Lincoln Avenue Edmond, OK.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Recently renovated duplex with updated plumbing, electrical, windows, and cosmetic finishes; Two units: 2 bed/1 bath upstairs and 1 bed/1 bath downstairs; Two‑lot property with zoning allowing up to 3 additional multifamily structures
