Two-Unit
For Sale
$110,000
2901 N Fonshill Avenue, Oklahoma City, OK 73111
Residential duplex with one-bedroom, one-bath layouts and near-term flexibility across both units.
Property Size1,158 SF
Days on Market60
Property Features for 2901 N Fonshill Avenue
General Information
Standard status
Active
Size
1,158 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,088
Building Details
Building Size
1,158 SF
Year Built
1930
Stories
1
Units
2
Listing Agency:
Bailee & Co. Real Estate
(405) 402-9707
Listed By:
Mikail Askeriiani
(405) 402-9707
Source:
Jarmanrealtyok
Added: Jun 14
Changed: Aug 7
Last Checked: Aug 11 at 1:56PM
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 Bailee & Co. Real Estate
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each arranged with one bedroom and one bathroom. One unit is vacant, while the second is currently occupied; the existing tenant is expected to leave before closing, giving the next owner control of both sides after the transition. The property was built in 1930 and is located at 2901 N Fonshill Avenue in Oklahoma City, Oklahoma. Its two-unit configuration supports continued use as a residential income property, subject to the applicable tenancy and occupancy arrangements at closing.
Key Highlights
- Two‑unit duplex with matching one‑bedroom, one‑bath layouts
- One unit is vacant and the other is currently tenant‑occupied
- Existing tenant plans to vacate before closing
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
$9,781
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
8.89%
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%
$195,620
$195.6K
Cap Rate 7%
$139,729
$139.7K
Cap Rate 9%
$108,678
$108.7K
Market Conditions
NOI Build-Up for 1,158 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
$18.8K $16.20/SF
− Vacancy
−$975 −$0.84/SF
EGI
$17.8K $15.36/SF
− OpEx
−$8.0K −$6.91/SF
NOI
$9.8K $8.45/SF
Area
Oklahoma City, OK
Vacancy
5.20%
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%
$195,620
Cap Rate 7%
$139,729
Cap Rate 9%
$108,678
Alternative Uses
Best Use
Multifamily LT 5
$151.0K
$132.1K – $176.2K
NOI $10,571 @ 7.0% cap · market cap 9.61%
Second Best
Apartment 5plus
$139.7K
$122.3K – $163.0K
NOI $9,781 @ 7.0% cap · market cap 8.89%
Theoretical Best
Specialty Retail
$396.0K
$346.5K – $462.1K
NOI $27,723 @ 7.0% cap · market cap 25.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
Explore this area
Business Placement
Demographics for 73111, OK
11,451
Population
5,670
Households
2
Avg Household Size
42
Median Age
19%
College-Educated
86%
High-School Grad
8.6 sq mi
ZIP Area
1,332
Density / Sq Mi
$39,739
Median Household Income
$30,159
Median Earnings
$941
Median Rent
$109,500
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 - Residential duplex with one-bedroom, one-bath layouts and near-term flexibility across both units.
Where is this duplex located?
The property is located at 2901 N Fonshill Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: Two‑unit duplex with matching one‑bedroom, one‑bath layouts; One unit is vacant and the other is currently tenant‑occupied; Existing tenant plans to vacate before closing
