Newly Built Duplex with Fenced
For Sale
$415,000
324 NW 122nd St Unit 1, Oklahoma City, OK 73114
Two three-bedroom residences include modern finishes and full appliance packages.
Property Size2,300 SF
Price / SF$180.43
Days on Market12
Property Features for 324 NW 122nd St Unit 1
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Furnished
No
Amenities
covered front porch
fenced backyard
washer
dryer
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Cadence Real Estate
(405) 313-8239
Listed By:
Kat Thompson
Source:
Alloverok
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 31 at 7:34PM
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 Cadence Real Estate
Investment Insights
Based on property information with market context.
Built in 2026, this 2,300-square-foot duplex contains two residences, each with three bedrooms and two full bathrooms. Both units feature open living and kitchen areas with breakfast bars, pantries, major appliances, luxury vinyl tile flooring, and granite or quartz countertops. Primary suites include walk-in closets and private bathrooms with dual sinks and tiled showers. Additional features include covered front porches, linen storage, 2-inch white faux wood blinds, refrigerators, washers, and dryers.
Each residence also offers a fenced backyard for private outdoor use. The property is configured as a complete duplex comprising units 1 and 2, with practical layouts that include two additional bedrooms suitable for tenant, guest, or office use.
Each residence also offers a fenced backyard for private outdoor use. The property is configured as a complete duplex comprising units 1 and 2, with practical layouts that include two additional bedrooms suitable for tenant, guest, or office use.
Key Highlights
- 2,300 SF duplex built in 2026
- Two units, each with 3 bedrooms and 2 bathrooms
- Open kitchens with breakfast bars, pantries, and major appliances
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
$20,996
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
5.06%
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%
$419,920
$419.9K
Cap Rate 7%
$299,943
$299.9K
Cap Rate 9%
$233,289
$233.3K
Market Conditions
NOI Build-Up for 2,300 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
$31.7K $13.80/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$30.0K $13.04/SF
− OpEx
−$9.0K −$3.91/SF
NOI
$21.0K $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%
$419,920
Cap Rate 7%
$299,943
Cap Rate 9%
$233,289
Alternative Uses
Best Use
Multifamily LT 5
$299.9K
$262.5K – $349.9K
NOI $20,996 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$277.5K
$242.8K – $323.8K
NOI $19,427 @ 7.0% cap · market cap 4.68%
Theoretical Best
Specialty Retail
$786.6K
$688.3K – $917.7K
NOI $55,062 @ 7.0% cap · market cap 13.27%
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
148
Businesses Nearby
Explore this area
Business Placement
Demographics for 73114, OK
18,694
Population
9,311
Households
2
Avg Household Size
30
Median Age
25%
College-Educated
90%
High-School Grad
9.5 sq mi
ZIP Area
1,968
Density / Sq Mi
$52,592
Median Household Income
$35,931
Median Earnings
$1,135
Median Rent
$134,100
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 three-bedroom residences include modern finishes and full appliance packages.
Where is this duplex located?
The property is located at 324 NW 122nd St Unit 1 Oklahoma City, OK.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: 2,300 SF duplex built in 2026; Two units, each with 3 bedrooms and 2 bathrooms; Open kitchens with breakfast bars, pantries, and major appliances
