Duplex with Fenced
For Sale
$246,900
Pending
234 Dennis Street, Edmond, OK 73013
Residential Income, Edmond, OK
Property Size1,893 SF
Days on Market90
Property Features for 234 Dennis Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 4, Bathroom 4, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1
Lot features
Corner Lot
Elementary school
Sunset ES
Middle school
Central MS
High school
Memorial HS
Elementary school district
Edmond
Middle school district
Edmond
High school district
Edmond
Standard status
Pending
APN
NONE234Dennis73013
Size
1,893 SF
Utilities
Heating system
Natural Gas
Amenities
private fenced backyards
Building Details
Year built
2003
Building materials
Brick
Roof type
Composition
Architectural style
Other
Listing Agency:
LRE Realty, LLC
(405) 285-5750
Listed By:
Johana Rodriguez
(405) 496-8772
Added: Jun 1
Changed: Aug 25
Last Checked: Aug 29 at 11:06AM
MLS# 1232073
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.
Built in 2003, this 1,893-square-foot brick duplex includes two separate residences. The larger unit has three bedrooms and two bathrooms, while the second offers two bedrooms and two bathrooms. Each side includes a private fenced backyard, providing dedicated outdoor space for occupants. The property has natural gas heating and a composition roof.
One residence is currently leased, and the other is vacant and ready for occupancy. The property is located near shopping, dining, schools, and major commuter routes in Edmond, Oklahoma.
One residence is currently leased, and the other is vacant and ready for occupancy. The property is located near shopping, dining, schools, and major commuter routes in Edmond, Oklahoma.
Key Highlights
- 1,893‑square‑foot duplex built in 2003
- Unit mix includes 3 bedrooms/2 bathrooms and 2 bedrooms/2 bathrooms
- One unit is tenant‑occupied; the other is vacant and ready for occupancy
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
$12,045
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
4.88%
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%
$240,900
$240.9K
Cap Rate 7%
$172,071
$172.1K
Cap Rate 9%
$133,833
$133.8K
Market Conditions
NOI Build-Up for 1,893 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
$24.3K $12.84/SF
− Vacancy
−$2.4K −$1.27/SF
EGI
$21.9K $11.57/SF
− OpEx
−$9.9K −$5.21/SF
NOI
$12.0K $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%
$240,900
Cap Rate 7%
$172,071
Cap Rate 9%
$133,833
Alternative Uses
Best Use
Apartment 5plus
$172.1K
$150.6K – $200.8K
NOI $12,045 @ 7.0% cap · market cap 4.88%
Second Best
Multifamily LT 5
$164.3K
$143.8K – $191.7K
NOI $11,502 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$394.3K
$345.0K – $460.0K
NOI $27,599 @ 7.0% cap · market cap 11.18%
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
1,319
Businesses Nearby
Explore this area
Business Placement
Demographics for 73013, OK
56,972
Population
22,971
Households
2.5
Avg Household Size
36
Median Age
59%
College-Educated
97%
High-School Grad
32.7 sq mi
ZIP Area
1,742
Density / Sq Mi
$108,727
Median Household Income
$54,073
Median Earnings
$1,465
Median Rent
$292,500
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-unit residential property with one leased side and a separate vacant unit ready for occupancy.
Where is this duplex located?
The property is located at 234 Dennis Street Edmond, OK.
What is the asking price?
The asking price for this property is $246,900.
What are key features of this property?
This property features: 1,893‑square‑foot duplex built in 2003; Unit mix includes 3 bedrooms/2 bathrooms and 2 bedrooms/2 bathrooms; One unit is tenant‑occupied; the other is vacant and ready for occupancy
