Updated Duplex with Garage
For Sale
$339,900
Pending
3123 NW 17th St, Oklahoma City, OK 73107
Craftsman-style property includes a separate dwelling, adaptable interior space, and an expansive yard.
Property Size2,011 SF
Days on Market43
Property Features for 3123 NW 17th St
General Information
Standard status
Pending
Size
2,011 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Buildings
2
Construction
Craftsman-style
Listing Agency:
LRE Realty LLC
(405) 414-8750
Listed By:
Tara Levinson · License #145328
Source:
Kathleenforrest
Added: Jul 21
Changed: Aug 31
Last Checked: Aug 31 at 6:39PM
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 LRE Realty LLC
Investment Insights
Based on property information with market context.
This Oklahoma City duplex pairs a 1,611-square-foot Craftsman-style main residence with a detached 400-square-foot garage apartment. The primary home dates to 1920 and has been updated with stained wood floors, original trim, large windows, quartz kitchen counters, and painted cabinetry. A fireplace, dishwasher, gas service, central electric service, and water heater are also included.
The secondary dwelling provides additional enclosed space separate from the main house and may function as a studio, guest accommodation, or short-term rental, as described for the property. The grounds include an expansive yard, while the detached structure adds utility beyond the principal residence. The address is 3123 NW 17th Street in Oklahoma City, OK 73107.
The secondary dwelling provides additional enclosed space separate from the main house and may function as a studio, guest accommodation, or short-term rental, as described for the property. The grounds include an expansive yard, while the detached structure adds utility beyond the principal residence. The address is 3123 NW 17th Street in Oklahoma City, OK 73107.
Key Highlights
- 1,611‑square‑foot main residence with Craftsman‑style design
- Detached 400‑square‑foot garage apartment
- Built in 1920 with subsequent updates
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
$18,358
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
5.40%
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%
$367,160
$367.2K
Cap Rate 7%
$262,257
$262.3K
Cap Rate 9%
$203,978
$204.0K
Market Conditions
NOI Build-Up for 2,011 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
$27.8K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$26.2K $13.04/SF
− OpEx
−$7.9K −$3.91/SF
NOI
$18.4K $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%
$367,160
Cap Rate 7%
$262,257
Cap Rate 9%
$203,978
Alternative Uses
Best Use
Multifamily LT 5
$262.3K
$229.5K – $306.0K
NOI $18,358 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$242.7K
$212.3K – $283.1K
NOI $16,986 @ 7.0% cap · market cap 5.00%
Theoretical Best
Specialty Retail
$687.8K
$601.8K – $802.4K
NOI $48,143 @ 7.0% cap · market cap 14.16%
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
476
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 - Craftsman-style property includes a separate dwelling, adaptable interior space, and an expansive yard.
Where is this duplex located?
The property is located at 3123 NW 17th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 1,611‑square‑foot main residence with Craftsman‑style design; Detached 400‑square‑foot garage apartment; Built in 1920 with subsequent updates
