Updated Duplex With Attached
For Sale
$150,000
231 Windsor Way, Oklahoma City, OK 73110
Two refreshed units offer private garages, in-unit laundry, open living areas, and updated kitchens and bathrooms.
Property Size1,144 SF
Days on Market19
Property Features for 231 Windsor Way
General Information
Standard status
Active
Size
1,144 SF
Total Parking Spaces
2
Property subtype
Half Duplex
Taxes and HOA fees
Annual Taxes
$653
Building Details
Building Size
1,144 SF
Year Built
1983
Listing Agency:
Salt Real Estate Inc
(405) 990-8561
Listed By:
Ciara Whitney
Source:
Stetsonbentley
Added: Jul 25
Changed: Aug 3
Last Checked: Aug 11 at 12:45PM
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 duplex includes two three-bedroom, two-bath units at 229 and 231 Windsor Way, combining for six bedrooms and four bathrooms. Each side has an in-unit laundry room, kitchen pantry, open living arrangement, pass-through kitchen bar, dedicated dining area, sliding patio door, and attached one-car garage. The interiors have been refreshed with LVP flooring, new paint, updated countertops, tile backsplashes, white cabinetry, and new toilets.
A new roof is scheduled for installation before closing. Built in 1983, the property is located in Oklahoma City, Oklahoma, and is identified with the Crutcho Public School District on the tax assessor record. School information is subject to buyer verification.
A new roof is scheduled for installation before closing. Built in 1983, the property is located in Oklahoma City, Oklahoma, and is identified with the Crutcho Public School District on the tax assessor record. School information is subject to buyer verification.
Key Highlights
- Two‑unit duplex with 6 bedrooms and 4 bathrooms total
- Each unit includes 3 bedrooms, 2 bathrooms, and a 1‑car attached garage
- In‑unit laundry rooms, kitchen pantries, dining areas, and sliding patio doors
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
$10,443
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
6.96%
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%
$208,860
$208.9K
Cap Rate 7%
$149,186
$149.2K
Cap Rate 9%
$116,033
$116.0K
Market Conditions
NOI Build-Up for 1,144 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
$15.8K $13.80/SF
− Vacancy
−$868 −$0.76/SF
EGI
$14.9K $13.04/SF
− OpEx
−$4.5K −$3.91/SF
NOI
$10.4K $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%
$208,860
Cap Rate 7%
$149,186
Cap Rate 9%
$116,033
Alternative Uses
Best Use
Multifamily LT 5
$149.2K
$130.5K – $174.1K
NOI $10,443 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$138.0K
$120.8K – $161.1K
NOI $9,663 @ 7.0% cap · market cap 6.44%
Theoretical Best
Specialty Retail
$391.2K
$342.3K – $456.5K
NOI $27,387 @ 7.0% cap · market cap 18.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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
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 refreshed units offer private garages, in-unit laundry, open living areas, and updated kitchens and bathrooms.
Where is this duplex located?
The property is located at 231 Windsor Way Oklahoma City, OK.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two‑unit duplex with 6 bedrooms and 4 bathrooms total; Each unit includes 3 bedrooms, 2 bathrooms, and a 1‑car attached garage; In‑unit laundry rooms, kitchen pantries, dining areas, and sliding patio doors
