Traditional Duplex with Fenced
For Sale
$318,600
2616 Elwood Drive 2614-2616, Edmond, OK 73013
Two-unit property with central air, natural gas, storage, and multiple kitchen appliances.
Property Size2,220 SF
Price / SF$143.51
Days on Market48
Property Features for 2616 Elwood Drive 2614-2616
General Information
Standard status
Active
Size
2,220 SF
Total Parking Spaces
4
Property subtype
Residential Income
Amenities
Central Air, Electric
Natural Gas
Dishwasher, Disposal, Microwave, Refrigerator, Washer/Dryer
Storage
Fenced
Concrete
Traditional
Building Details
Year Built
1971
Stories
2
Listing Agency:
Fillmore Realty LLC
Listed By:
Tressea Fillmore
(405) 615-7730
Source:
Evrealestate
Added: Jul 17
Changed: Sep 2
Last Checked: Aug 30 at 3:38PM
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 Fillmore Realty LLC
Investment Insights
Based on property information with market context.
This duplex contains 2,220 square feet and was built in 1971. The property includes central air, electric service, natural gas, storage, and a kitchen equipped with a dishwasher, disposal, microwave, and refrigerator. A washer and dryer are also included. Concrete construction and a traditional exterior design are complemented by fenced outdoor space.
Located at 2614-2616 Elwood Drive in Edmond, Oklahoma, the property is reached from the 33rd Street and Boulevard area via Marilyn Road and Elwood Drive. The duplex configuration and existing residential features provide a straightforward income-property format.
Located at 2614-2616 Elwood Drive in Edmond, Oklahoma, the property is reached from the 33rd Street and Boulevard area via Marilyn Road and Elwood Drive. The duplex configuration and existing residential features provide a straightforward income-property format.
Key Highlights
- Duplex configuration at 2614‑2616 Elwood Drive
- 2,220 square feet of property size
- Built in 1971
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
$14,126
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
4.43%
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%
$282,520
$282.5K
Cap Rate 7%
$201,800
$201.8K
Cap Rate 9%
$156,956
$157.0K
Market Conditions
NOI Build-Up for 2,220 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
$28.5K $12.84/SF
− Vacancy
−$2.8K −$1.27/SF
EGI
$25.7K $11.57/SF
− OpEx
−$11.6K −$5.21/SF
NOI
$14.1K $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%
$282,520
Cap Rate 7%
$201,800
Cap Rate 9%
$156,956
Alternative Uses
Best Use
Apartment 5plus
$201.8K
$176.6K – $235.4K
NOI $14,126 @ 7.0% cap · market cap 4.43%
Second Best
Multifamily LT 5
$192.7K
$168.6K – $224.8K
NOI $13,489 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$462.4K
$404.6K – $539.5K
NOI $32,367 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,153
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 property with central air, natural gas, storage, and multiple kitchen appliances.
Where is this duplex located?
The property is located at 2616 Elwood Drive 2614-2616 Edmond, OK.
What is the asking price?
The asking price for this property is $318,600.
What are key features of this property?
This property features: Duplex configuration at 2614‑2616 Elwood Drive; 2,220 square feet of property size; Built in 1971
