Updated Duplex with 2021
316 Town Park Road Norman, OK 73072
For Sale
$335,000
MULTI_FAMILY - Other - Norman, OK
Property Size2,296 SF
Lot Size0.20 Acres
Price / SF$145.91
Days on Market54
Property Features for 316 Town Park Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bedroom 1, Bathroom 4, Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2
- 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
- Electric, Central Air
Building Details
- Year built
- 1985
- Floors in Building
- 1
- Building materials
- Brick & Frame
- Roof type
- Composition
- Architectural style
- Other
Listing Agency:
The Sterling Group, LLC
(405) 606-5791
Listed By:
David Sterling · License #174987
(405) 606-5791
Added: Jun 1
Changed: Jul 18
Last Checked: Jul 24 at 11:06AM
MLS# 1232264
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.
This duplex for sale contains two separate units and totals 4 bedrooms and 4 bathrooms. Unit 316 includes several recent updates: fresh flooring and paint, a new range and refrigerator, and sleek countertops, while the bathrooms retain original character; the master bath also has a new toilet. Unit 318 has a long-term tenant and remains in its original state aside from a new range, but it is described as well maintained with no known problems. The entire duplex received a new roof and skylight replacement in 2021.
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.
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.
Key Highlights
- Duplex built in 1985 with brick & frame construction and central air conditioning
- 4‑bedroom, 4‑bath duplex with appliances including dishwasher, refrigerator, and washer/dryer
- Unit 316 updated with fresh flooring and new paint, plus new range and new refrigerator
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 |
2,296 SF · lease $13.80/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$297.3K
$260.1K – $346.9K
NOI $20,811 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$273.3K
$239.1K – $318.8K
NOI $19,128 @ 7.0% cap · market cap 5.71%
Theoretical Best
Specialty Retail
$396.7K
$347.2K – $462.9K
NOI $27,772 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - For sale duplex with two units, unit-by-unit updates, and a 2021 roof and skylight replacement.
Where is this duplex located?
The property is located at 316 Town Park Road Norman, OK.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Duplex built in 1985 with brick & frame construction and central air conditioning; 4‑bedroom, 4‑bath duplex with appliances including dishwasher, refrigerator, and washer/dryer; Unit 316 updated with fresh flooring and new paint, plus new range and new refrigerator
