Renovated Duplex with Expansion
New
For Sale
$459,000
230 E Lincoln Avenue, Edmond, OK 73034
Residential Income, Edmond, OK
Property Size2,064 SF
Lot Size0.21 Acres
Price / SF$222.38
Days on Market3
Property Features for 230 E Lincoln Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 1
Parking
8
Parking features
RV
Appliances
Dishwasher
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
Broadway and Danforth go South to Lincoln Avenue, East to the property
Standard status
Active
APN
230ELincoln73034
Size
2,064 SF
Lot size
0.21 Acres
Utilities
Heating system
Natural Gas
Cooling system
Electric, Central Air
Building Details
Year built
1910
Floors in Building
2
Building materials
Frame
Roof type
Composition
Architectural style
Craftsman
Listing Agency:
RE/MAX Preferred · RE/MAX International
(405) 751-4848
Listed By:
Paul Brooks · License #116430
(405) 990-0548
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 23 at 10:06AM
MLS# 1245737
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 Craftsman-style duplex in Edmond contains 2,064 square feet within a frame building constructed in 1910. The upper residence offers two bedrooms and one bathroom, while the lower residence includes one bedroom and one bathroom. Both units are vacant and have undergone extensive renovation, including plumbing, electrical systems, windows, and interior finishes. Each unit includes a dishwasher, with natural-gas heating and electric central air conditioning.
The property encompasses two lots totaling 0.2089 acres at 230 E Lincoln Avenue. Rezoning has been completed, and the approved zoning permits up to three additional structures for multifamily development. The site is located near the University of Central Oklahoma campus and within Edmond’s planned University District. RV parking is also provided.
The property encompasses two lots totaling 0.2089 acres at 230 E Lincoln Avenue. Rezoning has been completed, and the approved zoning permits up to three additional structures for multifamily development. The site is located near the University of Central Oklahoma campus and within Edmond’s planned University District. RV parking is also provided.
Key Highlights
- Renovated duplex with 2,064 square feet of building area
- Two vacant units: 2‑bedroom/1‑bath upstairs and 1‑bedroom/1‑bath downstairs
- Renovations include plumbing, electrical, windows, and interior finishes
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
$13,133
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
2.86%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
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
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?
Duplex - Recently renovated two-unit property with rezoning that permits up to three additional multifamily structures.
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: Renovated duplex with 2,064 square feet of building area; Two vacant units: 2‑bedroom/1‑bath upstairs and 1‑bedroom/1‑bath downstairs; Renovations include plumbing, electrical, windows, and interior finishes
