Modern Stacked Duplex with
For Sale
$335,000
3184 N Iroquois Avenue, Tulsa, OK 74106
Two-unit property with open layouts, updated finishes, covered porch, fenced yard, and attached garage storage.
Property Size2,914 SF
Days on Market223
Property Features for 3184 N Iroquois Avenue
General Information
Standard status
Active
Size
2,914 SF
Total Parking Spaces
2
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
in-unit laundry
covered porch
fenced yard
projector
2 Units
Central
Gas
Multiple Heating Units
Central Air
Built-In Oven
Dishwasher
Microwave
Oven
Range
Refrigerator
Stove
Tankless Water Heater
Patio, Porch, Cable Available, Electricity Available, Natural Gas Available, Asphalt, Fiberglass
Building Details
Building Size
2,914 SF
Year Built
2019
Listing Agency:
Keller WIlliams Realty Advantage
Listed By:
Tracy Carr · License #149049
(918) 698-6319
Source:
Kw
Added: Jan 23
Changed: Sep 1
Last Checked: Sep 1 at 12:26AM
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 Keller WIlliams Realty Advantage
Investment Insights
Based on property information with market context.
Completed in 2019, this stacked duplex provides two separate residences with open-plan interiors and modern finishes. The upper home measures over 1,600 square feet and includes four bedrooms, three full bathrooms, granite countertops, and a primary suite positioned above the garage. The lower residence features 10-foot ceilings, expansive windows, a generous kitchen, granite surfaces in the kitchen and bathrooms, and in-unit laundry. Across both units, the property contains seven bedrooms and five full bathrooms with more than 2,900 square feet of living area.
The attached two-car garage includes wall-to-wall storage, while the exterior offers a broad L-shaped covered porch and a fully fenced yard. Interior amenities include central air, multiple heating units, a tankless water heater, and built-in kitchen appliances. A projector with a 110-inch automatic screen is also included. The property is located at 3184 N Iroquois Avenue in Tulsa, Oklahoma 74106.
The attached two-car garage includes wall-to-wall storage, while the exterior offers a broad L-shaped covered porch and a fully fenced yard. Interior amenities include central air, multiple heating units, a tankless water heater, and built-in kitchen appliances. A projector with a 110-inch automatic screen is also included. The property is located at 3184 N Iroquois Avenue in Tulsa, Oklahoma 74106.
Key Highlights
- 2019‑built stacked duplex with more than 2,900 sq. ft. of total living space
- Seven bedrooms and five full bathrooms across two units
- Upper unit exceeds 1,600 sq. ft. and includes four bedrooms, three full bathrooms, and a primary suite above the garage
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
$28,386
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
8.47%
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%
$567,720
$567.7K
Cap Rate 7%
$405,514
$405.5K
Cap Rate 9%
$315,400
$315.4K
Market Conditions
NOI Build-Up for 2,914 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
$44.8K $15.36/SF
− Vacancy
−$4.2K −$1.44/SF
EGI
$40.6K $13.92/SF
− OpEx
−$12.2K −$4.17/SF
NOI
$28.4K $9.74/SF
Area
Tulsa, OK
Vacancy
9.40%
Lease Rate
$15.36 /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%
$567,720
Cap Rate 7%
$405,514
Cap Rate 9%
$315,400
Alternative Uses
Best Use
Multifamily LT 5
$405.5K
$354.8K – $473.1K
NOI $28,386 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$371.3K
$324.9K – $433.2K
NOI $25,993 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$621.5K
$543.8K – $725.1K
NOI $43,506 @ 7.0% cap · market cap 12.99%
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
300
Businesses Nearby
Explore this area
Business Placement
Demographics for 74106, OK
16,805
Population
8,341
Households
2
Avg Household Size
35
Median Age
17%
College-Educated
83%
High-School Grad
7.6 sq mi
ZIP Area
2,211
Density / Sq Mi
$37,714
Median Household Income
$31,022
Median Earnings
$816
Median Rent
$98,900
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 - Two-unit property with open layouts, updated finishes, covered porch, fenced yard, and attached garage storage.
Where is this duplex located?
The property is located at 3184 N Iroquois Avenue Tulsa, 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: 2019‑built stacked duplex with more than 2,900 sq. ft. of total living space; Seven bedrooms and five full bathrooms across two units; Upper unit exceeds 1,600 sq. ft. and includes four bedrooms, three full bathrooms, and a primary suite above the garage
