Single-Story Duplex with
New
For Sale
$275,000
3609 N Drexel Boulevard, Oklahoma City, OK 73112
Each unit includes a granite-counter kitchen, private garage, and laundry hookups.
Property Size2,750 SF
Price / SF$100
Days on Market2
Property Features for 3609 N Drexel Boulevard
General Information
Standard status
Active
Size
2,750 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
Washer/Dryer hook ups
Building Details
Year Built
1961
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
McGraw Davisson Stewart LLC(BO
Listed By:
Jennifer Elliston
(405) 746-0040
Source:
Alloverok
Added: Sep 4
Last Checked: Sep 4 at 3:30PM
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 McGraw Davisson Stewart LLC(BO
Investment Insights
Based on property information with market context.
Built in 1961, this 2,750-square-foot duplex is arranged as two single-level residences. Each side provides two bedrooms, one-and-a-half bathrooms, a spacious living room, a separate dining area, and a kitchen equipped with granite countertops, stainless steel appliances, and substantial cabinetry. Storage is available throughout both units, with washer and dryer connections located inside.
Each residence has its own one-car garage with rear access. The property is in Oklahoma City’s historic district near shopping, dining, and major highways. Both units are currently occupied by tenants, providing an existing residential income configuration.
Each residence has its own one-car garage with rear access. The property is in Oklahoma City’s historic district near shopping, dining, and major highways. Both units are currently occupied by tenants, providing an existing residential income configuration.
Key Highlights
- 2,750‑square‑foot duplex built in 1961
- Two units, each with 2 bedrooms and 1 1/2 bathrooms
- Granite countertops, stainless steel appliances, and extensive kitchen cabinetry
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
$25,104
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
9.13%
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%
$502,080
$502.1K
Cap Rate 7%
$358,629
$358.6K
Cap Rate 9%
$278,933
$278.9K
Market Conditions
NOI Build-Up for 2,750 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
$38.0K $13.80/SF
− Vacancy
−$2.1K −$0.76/SF
EGI
$35.9K $13.04/SF
− OpEx
−$10.8K −$3.91/SF
NOI
$25.1K $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%
$502,080
Cap Rate 7%
$358,629
Cap Rate 9%
$278,933
Alternative Uses
Best Use
Multifamily LT 5
$358.6K
$313.8K – $418.4K
NOI $25,104 @ 7.0% cap · market cap 9.13%
Second Best
Apartment 5plus
$331.8K
$290.4K – $387.1K
NOI $23,228 @ 7.0% cap · market cap 8.45%
Theoretical Best
Specialty Retail
$940.5K
$822.9K – $1.10M
NOI $65,835 @ 7.0% cap · market cap 23.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Explore this area
Business Placement
Demographics for 73112, OK
31,113
Population
16,413
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
7.6 sq mi
ZIP Area
4,094
Density / Sq Mi
$57,833
Median Household Income
$39,641
Median Earnings
$1,030
Median Rent
$173,100
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 - Each unit includes a granite-counter kitchen, private garage, and laundry hookups.
Where is this duplex located?
The property is located at 3609 N Drexel Boulevard Oklahoma City, OK.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,750‑square‑foot duplex built in 1961; Two units, each with 2 bedrooms and 1 1/2 bathrooms; Granite countertops, stainless steel appliances, and extensive kitchen cabinetry
