Updated Craftsman
For Sale
$339,900
Pending
3123 NW 17th Street, Oklahoma City, OK 73107
Residential Income, Oklahoma City, OK
Property Size2,011 SF
Lot Size0.28 Acres
Days on Market109
Property Features for 3123 NW 17th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 1, Bathroom 4, Bathroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 1
Fireplace
1
Appliances
Dishwasher, Water Heater
Lot features
Interior Lot
Elementary school
Kaiser 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
From N Drexel Blvd, turn West on NW 17th St property is on the north side of the street.
Standard status
Pending
APN
3123NW17th73107
Size
2,011 SF
Lot size
0.28 Acres
Utilities
Heating system
Natural Gas
Cooling system
Electric, Central Air
Building Details
Year built
1920
Floors in Building
2
Building materials
Frame
Roof type
Composition
Architectural style
Bungalow, Craftsman
Listing Agency:
LRE Realty LLC
(405) 285-5750
Listed By:
Tara Levinson · License #145328
(405) 414-8750
Added: May 13
Changed: Aug 21
Last Checked: Aug 29 at 2:06PM
MLS# 1229145
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.
Built in 1920, this Craftsman-style duplex combines a primary residence with a separate garage apartment on a 0.2755-acre lot. The main home contains 1,611 square feet and retains stained wood floors, original trim, large windows, and a fireplace. Updated kitchen finishes include quartz countertops and painted cabinetry, while the frame construction, composition roof, natural-gas heating, and central electric air conditioning provide the core building systems.
The detached apartment adds 400 square feet of additional living space. The property is located at 3123 NW 17th Street in Oklahoma City, within ZIP Code 73107. A spacious yard, dishwasher, and water heater are also included.
The detached apartment adds 400 square feet of additional living space. The property is located at 3123 NW 17th Street in Oklahoma City, within ZIP Code 73107. A spacious yard, dishwasher, and water heater are also included.
Key Highlights
- 1,611‑square‑foot main residence with Craftsman detailing
- Detached 400‑square‑foot garage apartment
- 0.2755‑acre lot with expansive yard
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-dwelling property with a detached garage apartment, original character, and refreshed kitchen finishes.
Where is this duplex located?
The property is located at 3123 NW 17th Street 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 detailing; Detached 400‑square‑foot garage apartment; 0.2755‑acre lot with expansive yard
