Remodeled Duplex with Hardwood
New
For Sale
$249,000
2844 Nw 21st St, Oklahoma City, OK 73105
Two available units feature matching layouts, updated finishes, and new mechanical systems.
Property Size1,480 SF
Price / SF$168.24
Days on Market5
Property Features for 2844 Nw 21st St
General Information
Standard status
Active
Size
1,480 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Amenities
stackable washer/dryer units
Building Details
Buildings
1
Listing Agency:
Realty 1 LLC
(405) 340-2480
Listed By:
David Chapman · License #144201
(405) 202-2676
Source:
Exprealty
Added: Sep 2
Changed: Sep 5
Last Checked: Sep 5 at 3:13PM
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 Realty 1 LLC
Investment Insights
Based on property information with market context.
This remodeled duplex offers two available units with matching floor plans and 1,480 square feet of total property size. Interior improvements include original hardwood flooring, fresh paint, updated lighting and plumbing fixtures, new hardware, remodeled kitchens with cabinetry, subway tile backsplashes, and stainless steel appliances. Bathrooms have new ceramic tile, vanities, and toilets. Each unit also includes a stackable washer and dryer.
Exterior work includes new paint, concrete parking, landscaping, and sod in the front yard. New HVAC systems and wiring were installed by licensed contractors. The property is near Oklahoma City University. Utility service includes all-electric service at 2846 and electric and gas service at 2844.
Exterior work includes new paint, concrete parking, landscaping, and sod in the front yard. New HVAC systems and wiring were installed by licensed contractors. The property is near Oklahoma City University. Utility service includes all-electric service at 2846 and electric and gas service at 2844.
Key Highlights
- Two‑unit duplex with both units available
- 1,480 square feet of total property size
- 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 73105, OK
5,835
Population
3,416
Households
1.7
Avg Household Size
35
Median Age
39%
College-Educated
94%
High-School Grad
4.5 sq mi
ZIP Area
1,297
Density / Sq Mi
$48,314
Median Household Income
$32,614
Median Earnings
$1,091
Median Rent
$162,800
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 available units feature matching layouts, updated finishes, and new mechanical systems.
Where is this duplex located?
The property is located at 2844 Nw 21st St 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 units available; 1,480 square feet of total property size; Matching floor plans in both units
