Brick Duplex with Two-Car
For Sale
$250,000
3237 Nw 22nd St, Oklahoma City, OK 73103
Two one-bedroom units combine period character, recent infrastructure updates, and flexible occupancy for an owner-occupant or investor.
Property Size2,034 SF
Price / SF$122.91
Days on Market13
Property Features for 3237 Nw 22nd St
General Information
Standard status
Active
Size
2,034 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Construction
Tudor
Tenancy
Single
Listing Agency:
Chinowth & Cohen
(405) 503-3968
Listed By:
Justin Brannon
(405) 503-3968
Source:
Exprealty
Added: Jul 31
Changed: Aug 8
Last Checked: Aug 11 at 10:50AM
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 Chinowth & Cohen
Investment Insights
Based on property information with market context.
This 2,034-square-foot duplex in Linwood Place contains two separate one-bedroom, one-bath residences within a blonde-brick Tudor building. The property retains original character, including oak floors, fireplaces, period bathroom finishes, a leaded-glass entry door, and exposed brick details. Recent improvements include a new 2025 roof, PEX water-supply lines in the crawlspace, and water heaters less than four years old. A detached two-car garage, additional drive pad, fenced yard, and rear decks add practical utility.
One unit is occupied by a corporate tenant on a month-to-month arrangement, while the second unit is vacant and requires renovation. The occupied residence includes a back deck and period finishes; the vacant unit has refinished oak floors, an open living, dining, and kitchen arrangement, a gas-log fireplace, and both a walk-in shower and platform tub. The property offers access to I-40 and I-44, with connections to downtown and nearby hospitals.
One unit is occupied by a corporate tenant on a month-to-month arrangement, while the second unit is vacant and requires renovation. The occupied residence includes a back deck and period finishes; the vacant unit has refinished oak floors, an open living, dining, and kitchen arrangement, a gas-log fireplace, and both a walk-in shower and platform tub. The property offers access to I-40 and I-44, with connections to downtown and nearby hospitals.
Key Highlights
- 2,034 SF blonde‑brick Tudor duplex with two separate 1‑bedroom, 1‑bath units
- New 2025 roof, PEX water‑supply lines in crawlspace, and water heaters less than four years old
- Detached 2‑car garage plus an additional drive pad for tenant parking
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
$18,568
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
7.43%
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%
$371,360
$371.4K
Cap Rate 7%
$265,257
$265.3K
Cap Rate 9%
$206,311
$206.3K
Market Conditions
NOI Build-Up for 2,034 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
$28.1K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$26.5K $13.04/SF
− OpEx
−$8.0K −$3.91/SF
NOI
$18.6K $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%
$371,360
Cap Rate 7%
$265,257
Cap Rate 9%
$206,311
Alternative Uses
Best Use
Multifamily LT 5
$265.3K
$232.1K – $309.5K
NOI $18,568 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$245.4K
$214.8K – $286.4K
NOI $17,181 @ 7.0% cap · market cap 6.87%
Theoretical Best
Specialty Retail
$695.6K
$608.7K – $811.6K
NOI $48,694 @ 7.0% cap · market cap 19.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,276
Businesses Nearby
Explore this area
Business Placement
Demographics for 73103, OK
5,046
Population
3,489
Households
1.4
Avg Household Size
34
Median Age
61%
College-Educated
99%
High-School Grad
1.2 sq mi
ZIP Area
4,205
Density / Sq Mi
$56,934
Median Household Income
$50,055
Median Earnings
$954
Median Rent
$400,400
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 one-bedroom units combine period character, recent infrastructure updates, and flexible occupancy for an owner-occupant or investor.
Where is this duplex located?
The property is located at 3237 Nw 22nd St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 2,034 SF blonde‑brick Tudor duplex with two separate 1‑bedroom, 1‑bath units; New 2025 roof, PEX water‑supply lines in crawlspace, and water heaters less than four years old; Detached 2‑car garage plus an additional drive pad for tenant parking
