Tenant-Occupied Duplex with Covered
New
For Sale
$275,000
3617 N Drexel Boulevard, Oklahoma City, OK 73112
Residential Income, Oklahoma City, OK
Property Size2,686 SF
Lot Size0.16 Acres
Price / SF$102.38
Days on Market2
Property Features for 3617 N Drexel Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Lot features
Interior Lot
Elementary school
Kaiser ES
Middle school
Taft MS
High school
Northwest Classen HS
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Standard status
Active
APN
3617NDrexel73112
Size
2,686 SF
Lot size
0.16 Acres
Amenities
electric stove top
built-in oven
dishwasher
Building Details
Year built
1959
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
McGraw Davisson Stewart LLC(BO
(405) 735-3977
Listed By:
Jennifer Elliston
(405) 746-0040
Added: Sep 1
Last Checked: Sep 2 at 4:06AM
MLS# 1246115
Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 3617 N Drexel Boulevard in Oklahoma City, this 2,686-square-foot duplex contains two residences, each with two bedrooms and 1 1/2 bathrooms. Both units are tenant-occupied, and each includes one covered parking space. Interior features include an electric stovetop, built-in oven, and dishwasher; refrigerators are not included. Brick-and-frame construction, a composition roof, and a 1959 build date define the property’s existing improvements.
The 0.1646-acre parcel is near shopping, dining, Will Rogers Park, and highway access. Its placement in the Morris Will Roger Park Addition provides an established residential setting for the two-unit configuration.
The 0.1646-acre parcel is near shopping, dining, Will Rogers Park, and highway access. Its placement in the Morris Will Roger Park Addition provides an established residential setting for the two-unit configuration.
Key Highlights
- Two‑unit duplex with 2,686 square feet
- Both residences are currently tenant‑occupied
- Each unit includes 2 beds and 1 1/2 baths
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 - Tenant-occupied two-unit property with equipped kitchens and covered parking for each residence.
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: Two‑unit duplex with 2,686 square feet; Both residences are currently tenant‑occupied; Each unit includes 2 beds and 1 1/2 baths
