New-Build Duplex with
For Sale
$615,000
2304 E 4th Place A & B, Tulsa, OK 74104
Two matching residences include kitchen appliances, laundry equipment, garages, and additional off-street parking.
Property Size1,850 SF
Price / SF$332.43
Days on Market41
Property Features for 2304 E 4th Place A & B
General Information
Standard status
Active
Size
1,850 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Year Built
2025
Listing Agency:
Trinity Properties
(918) 520-7149
Listed By:
Carri Ray · License #146052
Source:
Thebaynebrookgroup
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 28 at 12:41PM
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 Trinity Properties
Investment Insights
Based on property information with market context.
This 2025 duplex contains two comparable residences, each with three bedrooms and two-and-a-half bathrooms. Both homes include a refrigerator, oven, microwave, dishwasher, and washer/dryer, along with a one-car garage and off-street parking. The property is identified as 1,850 in size and is located at 2304 E 4th Place A & B in Tulsa’s Kendall-Whittier area.
The address places the duplex within walking distance of the Tulsa Farmers Market and Historic Kendall-Whittier Square, while Mother Road Market is less than a mile away. Master bedrooms feature views toward downtown, adding a distinct outlook to the new-build layout.
The address places the duplex within walking distance of the Tulsa Farmers Market and Historic Kendall-Whittier Square, while Mother Road Market is less than a mile away. Master bedrooms feature views toward downtown, adding a distinct outlook to the new-build layout.
Key Highlights
- Two‑unit duplex completed in 2025
- Each residence offers 3 bedrooms and 2.5 bathrooms
- Refrigerator, oven, microwave, dishwasher, and washer/dryer included in both units
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
$18,021
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
2.93%
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%
$360,420
$360.4K
Cap Rate 7%
$257,443
$257.4K
Cap Rate 9%
$200,233
$200.2K
Market Conditions
NOI Build-Up for 1,850 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
$28.4K $15.36/SF
− Vacancy
−$2.7K −$1.44/SF
EGI
$25.7K $13.92/SF
− OpEx
−$7.7K −$4.17/SF
NOI
$18.0K $9.74/SF
Area
Tulsa, OK
Vacancy
9.40%
Lease Rate
$15.36 /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%
$360,420
Cap Rate 7%
$257,443
Cap Rate 9%
$200,233
Alternative Uses
Best Use
Multifamily LT 5
$257.4K
$225.3K – $300.4K
NOI $18,021 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$235.7K
$206.3K – $275.0K
NOI $16,502 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$394.6K
$345.3K – $460.3K
NOI $27,620 @ 7.0% cap · market cap 4.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,233
Businesses Nearby
Explore this area
Business Placement
Demographics for 74104, OK
12,395
Population
6,367
Households
1.9
Avg Household Size
31
Median Age
46%
College-Educated
90%
High-School Grad
2.7 sq mi
ZIP Area
4,591
Density / Sq Mi
$51,886
Median Household Income
$30,951
Median Earnings
$1,109
Median Rent
$224,500
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 - Two matching residences include kitchen appliances, laundry equipment, garages, and additional off-street parking.
Where is this duplex located?
The property is located at 2304 E 4th Place A & B Tulsa, OK.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Two‑unit duplex completed in 2025; Each residence offers 3 bedrooms and 2.5 bathrooms; Refrigerator, oven, microwave, dishwasher, and washer/dryer included in both units
