Remodeled Duplex with Identical Floor
New
For Sale
$249,000
2844 NW 21st Street, Oklahoma City, OK 73107
Residential Income, Oklahoma City, OK
Property Size1,480 SF
Lot Size0.17 Acres
Price / SF$168.24
Days on Market1
Property Features for 2844 NW 21st Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1
Fireplace
1
Appliances
Dishwasher, Disposal, Refrigerator, Washer/Dryer, Water Heater
Lot features
Interior Lot
Elementary school
Cleveland ES
Middle school
Taft MS
High school
Northwest Classen HS
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
Take the NW 23rd St Exit off I-235. Turn W onto NW 23rd. Then S onto N. Kentucky. Then W. onto NW 21st St. Property is on your left.
Standard status
Active
APN
2844NW21st73107
Size
1,480 SF
Lot size
0.17 Acres
Utilities
Heating system
Natural Gas
Cooling system
Electric
Amenities
landscaping
stackable washer/dryer
Building Details
Year built
1936
Floors in Building
1
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Bungalow
Listing Agency:
Realty 1 LLC
(405) 340-2480
Listed By:
David Chapman · License #144201
(405) 202-2676
Added: Sep 2
Last Checked: Sep 2 at 7:06PM
MLS# 1240868
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 1,480-square-foot duplex includes two available residences with matching floor plans. Originally built in 1936, the property combines brick and frame construction with bungalow styling, original hardwood flooring, updated kitchens with stainless steel appliances and subway tile, and refreshed bathrooms with ceramic tile, vanities, and new toilets. Each unit also has a stackable washer and dryer. New HVAC systems and wiring were installed by licensed contractors.
Exterior improvements include fresh paint, concrete parking, landscaping, and sod in the front yard. The property occupies 0.1722 acres at 2844 NW 21st Street in Oklahoma City, with the additional unit identified at 2846. Electric service is noted at both addresses, with natural gas also serving 2844. Oklahoma City University is nearby.
Exterior improvements include fresh paint, concrete parking, landscaping, and sod in the front yard. The property occupies 0.1722 acres at 2844 NW 21st Street in Oklahoma City, with the additional unit identified at 2846. Electric service is noted at both addresses, with natural gas also serving 2844. Oklahoma City University is nearby.
Key Highlights
- Two‑unit duplex with both residences available
- 1,480 SF building on a 0.1722‑acre lot
- Matching floor plans in both units
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
$13,510
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
5.43%
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%
$270,200
$270.2K
Cap Rate 7%
$193,000
$193.0K
Cap Rate 9%
$150,111
$150.1K
Market Conditions
NOI Build-Up for 1,480 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
$20.4K $13.80/SF
− Vacancy
−$1.1K −$0.76/SF
EGI
$19.3K $13.04/SF
− OpEx
−$5.8K −$3.91/SF
NOI
$13.5K $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%
$270,200
Cap Rate 7%
$193,000
Cap Rate 9%
$150,111
Alternative Uses
Best Use
Multifamily LT 5
$193.0K
$168.9K – $225.2K
NOI $13,510 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$178.6K
$156.3K – $208.4K
NOI $12,501 @ 7.0% cap · market cap 5.02%
Theoretical Best
Specialty Retail
$506.2K
$442.9K – $590.5K
NOI $35,431 @ 7.0% cap · market cap 14.23%
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
458
Businesses Nearby
Explore this area
Business Placement
Demographics for 73107, OK
26,318
Population
12,621
Households
2.1
Avg Household Size
34
Median Age
31%
College-Educated
80%
High-School Grad
7.6 sq mi
ZIP Area
3,463
Density / Sq Mi
$58,428
Median Household Income
$38,753
Median Earnings
$1,014
Median Rent
$143,000
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 - Both residences feature updated interiors, new HVAC systems, and private stackable laundry appliances.
Where is this duplex located?
The property is located at 2844 NW 21st Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences available; 1,480 SF building on a 0.1722‑acre lot; Matching floor plans in both units
