Four-Unit Townhome
For Sale
Contact for pricing
231 Antry Drive, Catoosa, OK 74015
Occupied townhome asset with varied unit layouts, individual outdoor spaces, and detached covered parking.
Property Size3,568 SF
Lot Size0.29 Acres
Price / SF$103.70
Days on Market10
Property Features for 231 Antry Drive
General Information
Standard status
Active
Size
3,568 SF
Lot size
0.29 Acres
Property subtype
Multifamily
Units
Unit Mix
2 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Amenities
balcony
professional landscaping
sidewalks
mature trees
Building Details
Year Built
1986
Buildings
1
Construction
wood frame
Listing Agency:
Coldwell Banker Select Real Estate Midtown
Listed By:
David Roberts · License #OK
Source:
Crexi
Added: Sep 11
Changed: Sep 18
Last Checked: Sep 20 at 7:42AM
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 Coldwell Banker Select Real Estate Midtown
Investment Insights
Based on property information with market context.
This quadplex comprises four occupied townhomes arranged as two one-bedroom, one-bath residences and two two-bedroom, one-bath residences. The units include living areas, kitchens, and either wood decks or balconies, with detached covered carport parking serving the property. Built in 1986, the improvements feature slab foundations, wood-frame construction with partial brick and wood exteriors, composition roofs, and central heat and air. City water and sewer serve the property.
The four residences are located at 231, 233, 235, and 237 Antry Dr. across multiple parcels totaling approximately 0.286 acre within the Spunky Ridge Addition and Catoosa School District. Shared site features include concrete access, sidewalks, gutters, mature trees, and professional landscaping. Ownership includes an approximately 0.1667-acre share of a one-acre common area, with responsibility for one-sixth of associated costs.
The four residences are located at 231, 233, 235, and 237 Antry Dr. across multiple parcels totaling approximately 0.286 acre within the Spunky Ridge Addition and Catoosa School District. Shared site features include concrete access, sidewalks, gutters, mature trees, and professional landscaping. Ownership includes an approximately 0.1667-acre share of a one-acre common area, with responsibility for one-sixth of associated costs.
Key Highlights
- Four occupied townhomes with two one‑bedroom and two two‑bedroom units
- Approximately 3,568 total square feet across the four residences
- Unit sizes include approximately 720 square feet and 1,064 square feet
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
$23,785
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
6.43%
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%
$475,700
$475.7K
Cap Rate 7%
$339,786
$339.8K
Cap Rate 9%
$264,278
$264.3K
Market Conditions
NOI Build-Up for 3,568 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
$48.8K $13.68/SF
− Vacancy
−$5.6K −$1.56/SF
EGI
$43.2K $12.12/SF
− OpEx
−$19.5K −$5.45/SF
NOI
$23.8K $6.67/SF
Area
Rogers County, OK
Vacancy
11.40%
Lease Rate
$13.68 /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%
$475,700
Cap Rate 7%
$339,786
Cap Rate 9%
$264,278
Alternative Uses
Best Use
Apartment 5plus
$339.8K
$297.3K – $396.4K
NOI $23,785 @ 7.0% cap · market cap 6.43%
Second Best
Multifamily LT 5
$286.3K
$250.6K – $334.1K
NOI $20,044 @ 7.0% cap · market cap 5.42%
Theoretical Best
Specialty Retail
$893.6K
$781.9K – $1.04M
NOI $62,554 @ 7.0% cap · market cap 16.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
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Business Placement
Demographics for 74015, OK
8,270
Population
3,578
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
88%
High-School Grad
60.3 sq mi
ZIP Area
137
Density / Sq Mi
$72,688
Median Household Income
$44,256
Median Earnings
$1,052
Median Rent
$211,300
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?
Quadplex - Occupied townhome asset with varied unit layouts, individual outdoor spaces, and detached covered parking.
Where is this quadplex located?
The property is located at 231 Antry Drive Catoosa, OK.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Four occupied townhomes with two one‑bedroom and two two‑bedroom units; Approximately 3,568 total square feet across the four residences; Unit sizes include approximately 720 square feet and 1,064 square feet
