Duplex with Private
New
For Sale
$330,000
24 W Rachel Street, Bixby, OK 74008
Both residences include fireplaces, patios, separate utility meters, and access to Memorial Drive.
Property Size1,784 SF
Price / SF$184.98
Days on Market2
Property Features for 24 W Rachel Street
General Information
Standard status
Active
Size
1,784 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
fireplace
patio area
washer and dryer hookups
separate utility meters
refrigerators included
washer and dryer
Building Details
Year Built
1978
Listing Agency:
Tulsa United Realty Group
Listed By:
Francheska Umpierre · License #183733
(918) 265-4616
Source:
1907realty
Added: Sep 14
Last Checked: Sep 14 at 2:19PM
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 Tulsa United Realty Group
Investment Insights
Based on property information with market context.
Built in 1978, this 1,784-square-foot duplex at 24 W Rachel Street in Bixby, Oklahoma, offers two separate residences with two bedrooms each. Interior improvements include new carpet and refinished bathrooms, while each unit also has a fireplace, washer and dryer hookups, a private patio area, and an included refrigerator. One residence includes a washer and dryer. The units are arranged without residences above or below, providing additional separation between occupants.
Separate utility meters serve each unit, and the property has no HOA. Its location provides access to Memorial Drive and supports flexible use as an owner-occupied duplex or a two-unit rental property.
Separate utility meters serve each unit, and the property has no HOA. Its location provides access to Memorial Drive and supports flexible use as an owner-occupied duplex or a two-unit rental property.
Key Highlights
- Two‑unit duplex with 1,784 square feet, built in 1978
- Each unit has 2 bedrooms, a fireplace, patio area, and washer and dryer hookups
- New carpet and refinished bathrooms in each unit
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
$15,908
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
4.82%
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%
$318,160
$318.2K
Cap Rate 7%
$227,257
$227.3K
Cap Rate 9%
$176,756
$176.8K
Market Conditions
NOI Build-Up for 1,784 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
$24.6K $13.80/SF
− Vacancy
−$1.9K −$1.06/SF
EGI
$22.7K $12.74/SF
− OpEx
−$6.8K −$3.82/SF
NOI
$15.9K $8.92/SF
Area
Tulsa County, OK
Vacancy
7.69%
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%
$318,160
Cap Rate 7%
$227,257
Cap Rate 9%
$176,756
Alternative Uses
Best Use
Multifamily LT 5
$227.3K
$198.9K – $265.1K
NOI $15,908 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$197.9K
$173.1K – $230.8K
NOI $13,850 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$402.1K
$351.8K – $469.1K
NOI $28,144 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
326
Businesses Nearby
Explore this area
Business Placement
Demographics for 74008, OK
31,745
Population
12,447
Households
2.6
Avg Household Size
36
Median Age
44%
College-Educated
95%
High-School Grad
74.3 sq mi
ZIP Area
427
Density / Sq Mi
$95,476
Median Household Income
$48,691
Median Earnings
$1,302
Median Rent
$303,200
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?
Duplex - Both residences include fireplaces, patios, separate utility meters, and access to Memorial Drive.
Where is this duplex located?
The property is located at 24 W Rachel Street Bixby, OK.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,784 square feet, built in 1978; Each unit has 2 bedrooms, a fireplace, patio area, and washer and dryer hookups; New carpet and refinished bathrooms in each unit
