316 Town Park Road, Norman, OK 73072
MULTI_FAMILY - Other - Norman, OK
- Added:
- Jun 1, 2026
- Days on Market:
- 8
- Last Refresh:
- Jun 8 at 6:06 pm
Property Features for 316 Town Park Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bathroom 3, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 4
- Parking
- 4
- Fireplace
- 1
- Appliances
- Dishwasher, Refrigerator, Washer/Dryer, Water Heater
- Standard status
- Active
- APN
- 316NONETownPark73072
- Size
- 2,296 SF
- Lot size
- 0.20 Acres
Utilities
- Heating system
- Natural Gas
- Cooling system
- Central Air, Electric
Building Details
- Year built
- 1985
- Floors in Building
- 1
- Building materials
- Brick & Frame
- Roof type
- Composition
- Architectural style
- Other
Listing agent David Sterling License #174987 (405) 606-5791
Listing office The Sterling Group, LLC 14542 Bella Terra Way, Edmond, OK (405) 606-5791
Listing date Jun 1, 2026
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.
HighLights
- Duplex with 4 bedrooms and 4 bathrooms, including Unit 316 and Unit 318
- Unit 316 updates include fresh flooring, new paint, new range, new refrigerator, and sleek countertops
- Unit 318 remains in original condition with a long‑term tenant, with a new range and well‑maintained interior
- Entire duplex received a new roof and skylight replacement in 2021
- Home features brick & frame construction with natural gas heating and central air plus electric cooling
- Year built 1985; includes a fireplace and appliances such as dishwasher, washer/dryer, and water heater
Overview
The property is located at 316 Town Park Road in Norman, Oklahoma, in West Norman’s Heritage Place. The public remarks note a quick 12-minute drive to the University of Oklahoma campus, along with being minutes from Sooner Mall and nearby restaurants and shops.
This configuration can suit buyers looking for a duplex layout with distinct units and documented improvements, including the 2021 roof and skylight work and select appliance and interior updates in Unit 316. With one unit noted as updated and the other maintained with limited changes, the property may appeal to investors and owner-occupants who want to manage both sides of a duplex with clear unit-specific histories.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.7k | $13.80 |
| − Vacancy | −$2.0k | −$0.85 |
| EGI | $29.7k | $12.95 |
| − OpEx | −$8.9k | −$3.88 |
| NOI | $20.8k | $9.06 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Norman
- County
- Cleveland
- State
- Oklahoma
- Longitude
- -97.502809
- Latitude
- 35.221536
