Residential Income Half
For Sale
$145,000
2517 W Hefner Road, Oklahoma City, OK 73120
Residential, Oklahoma City, OK
Property Size1,173 SF
Price / SF$123.61
Days on Market196
Property Features for 2517 W Hefner Road
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
Patio and Porch features
Porch, Patio
Exterior features
Patio-Covered, Covered Porch
Fireplace
1
Lot features
Interior Lot
Elementary school
Ridgeview ES
Middle school
John Marshall MS
High school
John Marshall HS
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
From N May and W Hefner Road, Head West on Hefner to the property which sits on the corner of Hefner and Greystone
Standard status
Active
APN
2517WHefner73120
Size
1,173 SF
Taxes and HOA fees
HOA Fee
$1,800 Annually
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Electric
Building Details
Year built
1978
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Senemar & Associates
(405) 724-7003
Listed By:
Mitra Senemar · License #143837
(405) 834-2158
Added: Feb 23
Changed: Aug 21
Last Checked: Sep 7 at 5:06PM
MLS# 1215163
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.
This 1,173-square-foot half duplex was built in 1978 with brick-and-frame construction. The interior includes two bedrooms, two bathrooms, a living room, kitchen, and dining area, with tile and carpet flooring throughout. A spacious primary bedroom is complemented by a second well-sized bedroom. Natural gas heating, central air, and electric cooling serve the home, while a composition roof, fireplace, covered porch, and covered patio add to the property’s features.
The residence is located near Lake Hefner and shopping in The Village at 2517 W Hefner Road in Oklahoma City. The property is offered in its current as-is condition, with interior features that include a functional kitchen and dedicated dining area.
The residence is located near Lake Hefner and shopping in The Village at 2517 W Hefner Road in Oklahoma City. The property is offered in its current as-is condition, with interior features that include a functional kitchen and dedicated dining area.
Key Highlights
- 1,173‑square‑foot half duplex
- Two bedrooms and two bathrooms
- Brick‑and‑frame construction; built in 1978
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
$9,845
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
6.79%
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%
$196,900
$196.9K
Cap Rate 7%
$140,643
$140.6K
Cap Rate 9%
$109,389
$109.4K
Market Conditions
NOI Build-Up for 1,173 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
$19.0K $16.20/SF
− Vacancy
−$1.1K −$0.94/SF
EGI
$17.9K $15.26/SF
− OpEx
−$8.1K −$6.87/SF
NOI
$9.8K $8.39/SF
Area
ZIP 73120
Vacancy
5.80%
Lease Rate
$16.20 /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%
$196,900
Cap Rate 7%
$140,643
Cap Rate 9%
$109,389
Alternative Uses
Best Use
Apartment 5plus
$140.6K
$123.1K – $164.1K
NOI $9,845 @ 7.0% cap · market cap 6.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$282.3K
$247.0K – $329.4K
NOI $19,763 @ 7.0% cap · market cap 13.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
759
Businesses Nearby
Explore this area
Business Placement
Demographics for 73120, OK
36,530
Population
20,356
Households
1.8
Avg Household Size
38
Median Age
48%
College-Educated
96%
High-School Grad
11.0 sq mi
ZIP Area
3,321
Density / Sq Mi
$62,942
Median Household Income
$45,333
Median Earnings
$1,045
Median Rent
$227,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath residence with brick-and-frame construction and covered outdoor areas.
Where is this residential income property located?
The property is located at 2517 W Hefner Road Oklahoma City, OK.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: 1,173‑square‑foot half duplex; Two bedrooms and two bathrooms; Brick‑and‑frame construction; built in 1978
