Two-Unit Duplex
For Sale
$179,000
303 10th NW, Ardmore, OK 73401
Duplex includes one occupied unit and one vacant unit available for lease.
Property Size1,645 SF
Price / SF$108.81
Days on Market42
Property Features for 303 10th NW
General Information
Standard status
Active
Size
1,645 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1950
Listing Agency:
1 Oak Real Estate Co
(580) 768-3462
Listed By:
Erica Nipp
Source:
Cheathamrealty
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 30 at 7:46PM
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 1 Oak Real Estate Co
Investment Insights
Based on property information with market context.
This 1,645-square-foot duplex was built in 1950 and contains two residential units. One unit is currently rented, while the second is vacant and available for lease, creating a property with existing occupancy and an unleased unit.
Key Highlights
- Two‑unit duplex with 1,645 SF of building area
- One unit currently rented
- Second unit is vacant and available for lease
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
$12,787
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
7.14%
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%
$255,740
$255.7K
Cap Rate 7%
$182,671
$182.7K
Cap Rate 9%
$142,078
$142.1K
Market Conditions
NOI Build-Up for 1,645 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
$20.3K $12.36/SF
− Vacancy
−$2.1K −$1.26/SF
EGI
$18.3K $11.10/SF
− OpEx
−$5.5K −$3.33/SF
NOI
$12.8K $7.77/SF
Area
Carter County, OK
Vacancy
10.16%
Lease Rate
$12.36 /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%
$255,740
Cap Rate 7%
$182,671
Cap Rate 9%
$142,078
Alternative Uses
Best Use
Multifamily LT 5
$182.7K
$159.8K – $213.1K
NOI $12,787 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$167.6K
$146.6K – $195.5K
NOI $11,731 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$421.9K
$369.1K – $492.2K
NOI $29,531 @ 7.0% cap · market cap 16.50%
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
626
Businesses Nearby
Explore this area
Business Placement
Demographics for 73401, OK
36,744
Population
16,349
Households
2.2
Avg Household Size
41
Median Age
23%
College-Educated
88%
High-School Grad
351.5 sq mi
ZIP Area
105
Density / Sq Mi
$60,288
Median Household Income
$39,005
Median Earnings
$960
Median Rent
$174,700
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 - Duplex includes one occupied unit and one vacant unit available for lease.
Where is this duplex located?
The property is located at 303 10th NW Ardmore, OK.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,645 SF of building area; One unit currently rented; Second unit is vacant and available for lease
