Tenant-Occupied
New
For Sale
$275,000
3617 N Drexel Boulevard, Oklahoma City, OK 73112
Two-bedroom units offer half baths, built-in kitchen appliances, and covered parking for residents.
Property Size2,686 SF
Days on Market5
Property Features for 3617 N Drexel Boulevard
General Information
Standard status
Active
Size
2,686 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,163
Building Details
Building Size
2,686 SF
Year Built
1959
Buildings
1
Listing Agency:
McGraw Davisson Stewart LLC(BO
Listed By:
Jennifer Elliston
(405) 746-0040
Source:
Stetsonbentley
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 2 at 4:50PM
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.
This 2,686-square-foot duplex includes two residential units, each with two bedrooms and 1 1/2 baths. Both units are currently occupied by tenants. Kitchens are equipped with an electric stovetop, built-in oven, and dishwasher; refrigerators are not included. Each unit also has one covered parking space.
The property is located at 3617 N Drexel Blvd in Oklahoma City, within the Morris Will Roger Park Addition. Shopping, dining, highways, and Will Rogers Park are nearby, providing convenient access to surrounding amenities and transportation routes.
The property is located at 3617 N Drexel Blvd in Oklahoma City, within the Morris Will Roger Park Addition. Shopping, dining, highways, and Will Rogers Park are nearby, providing convenient access to surrounding amenities and transportation routes.
Key Highlights
- 2,686‑square‑foot duplex with two units
- Each unit includes 2 bedrooms and 1 1/2 baths
- Both units are currently occupied by tenants
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
$24,520
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
8.92%
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%
$490,400
$490.4K
Cap Rate 7%
$350,286
$350.3K
Cap Rate 9%
$272,444
$272.4K
Market Conditions
NOI Build-Up for 2,686 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
$37.1K $13.80/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$35.0K $13.04/SF
− OpEx
−$10.5K −$3.91/SF
NOI
$24.5K $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%
$490,400
Cap Rate 7%
$350,286
Cap Rate 9%
$272,444
Alternative Uses
Best Use
Multifamily LT 5
$350.3K
$306.5K – $408.7K
NOI $24,520 @ 7.0% cap · market cap 8.92%
Second Best
Apartment 5plus
$324.1K
$283.6K – $378.1K
NOI $22,688 @ 7.0% cap · market cap 8.25%
Theoretical Best
Specialty Retail
$918.6K
$803.8K – $1.07M
NOI $64,303 @ 7.0% cap · market cap 23.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
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 - Two-bedroom units offer half baths, built-in kitchen appliances, and covered parking for residents.
Where is this duplex located?
The property is located at 3617 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: 2,686‑square‑foot duplex with two units; Each unit includes 2 bedrooms and 1 1/2 baths; Both units are currently occupied by tenants
