Updated
For Sale
$325,000
316 Town Park Road, Norman, OK 73072
Residential Income, Norman, OK
Property Size2,296 SF
Lot Size0.20 Acres
Price / SF$141.55
Days on Market140
Property Features for 316 Town Park Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 3, Bedroom 4, Bathroom 4, Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 2
Parking
4
Fireplace
1
Appliances
Dishwasher, Refrigerator, Washer/Dryer, Water Heater
Lot features
Cul-De-Sac
Elementary school
Truman ES
Middle school
Whittier MS
High school
Norman HS
Elementary school district
Norman
Middle school district
Norman
High school district
Norman
Directions
From Main ST and NW 36th Ave, travel west to Lamp Post Rd and turn North. Turn right on Heritage Place Dr then left on Town Park Rd, Duplex will be on your left at the curve.
Standard status
Active
APN
316NONETownPark73072
Size
2,296 SF
Lot size
0.20 Acres
Utilities
Heating system
Natural Gas
Cooling system
Electric
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
Listed By:
David Sterling · License #174987
(405) 606-5791
Added: Jun 1
Changed: Oct 17
Last Checked: Oct 18 at 12:06AM
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.
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Investment Insights
Based on property information with market context.
This 2,296-square-foot duplex contains four bedrooms and four bathrooms across two units. Built in 1985, the property has brick-and-frame construction, natural gas heating, electric cooling, and a composition roof. The 0.2-acre lot includes the duplex and its associated improvements.
Interior work in Unit 316 includes new flooring, paint, a range, a refrigerator, and countertops; its primary bathroom also has a new toilet. Unit 318 has a newer range, while much of its interior remains in original condition. The roof and skylights were replaced in 2021.
The University of Oklahoma campus is a 12-minute drive away. Sooner Mall, restaurants, and shops are also described as nearby.
Interior work in Unit 316 includes new flooring, paint, a range, a refrigerator, and countertops; its primary bathroom also has a new toilet. Unit 318 has a newer range, while much of its interior remains in original condition. The roof and skylights were replaced in 2021.
The University of Oklahoma campus is a 12-minute drive away. Sooner Mall, restaurants, and shops are also described as nearby.
Key Highlights
- 2,296‑square‑foot duplex with four bedrooms and four bathrooms
- 0.2‑acre lot
- Unit 316 has updated flooring, paint, range, refrigerator, countertops, and a primary‑bathroom toilet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,811
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$416,220
$416.2K
Cap Rate 7%
$297,300
$297.3K
Cap Rate 9%
$231,233
$231.2K
Market Conditions
NOI Build-Up for 2,296 SF
Gross rent
$31.7K $13.80/SF
− Vacancy
−$2.0K −$0.85/SF
EGI
$29.7K $12.95/SF
− OpEx
−$8.9K −$3.88/SF
NOI
$20.8K $9.06/SF
Area
Norman, OK
Vacancy
6.17%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$416,220
Cap Rate 7%
$297,300
Cap Rate 9%
$231,233
Alternative Uses
Best Use
Multifamily LT 5
$297.3K
$260.1K – $346.9K
NOI $20,811 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$273.3K
$239.1K – $318.8K
NOI $19,128 @ 7.0% cap · market cap 5.89%
Theoretical Best
Specialty Retail
$396.7K
$347.2K – $462.9K
NOI $27,772 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Explore this area
Business Placement
Demographics for 73072, OK
51,062
Population
20,915
Households
2.4
Avg Household Size
30
Median Age
53%
College-Educated
95%
High-School Grad
52.2 sq mi
ZIP Area
978
Density / Sq Mi
$76,933
Median Household Income
$32,892
Median Earnings
$1,102
Median Rent
$291,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The two-unit property has four bedrooms and four bathrooms, with the University of Oklahoma a 12-minute drive away.
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 $325,000.
What are key features of this property?
This property features: 2,296‑square‑foot duplex with four bedrooms and four bathrooms; 0.2‑acre lot; Unit 316 has updated flooring, paint, range, refrigerator, countertops, and a primary‑bathroom toilet
