Four-Unit Modern
For Sale
$1,100,000
37 E Hurd St, Edmond, OK 73034
Four residential units offer open living areas, full kitchens, private laundry, and included appliances near the University of Central Oklahoma.
Property Size5,808 SF
Price / SF$189.39
Days on Market36
Property Features for 37 E Hurd St
General Information
Standard status
Active
Size
5,808 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 3BR/3BA
Multifamily Units
4
Amenities
private laundry
refrigerator
washer
dryer
Building Details
Year Built
2018
Buildings
1
Listing Agency:
Lime Realty
(405) 400-0789
Listed By:
Breann Green
(405) 400-0789
Source:
Oklahomarealestate
Added: Jul 27
Changed: Aug 30
Last Checked: Aug 31 at 3:02PM
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 Lime Realty
Investment Insights
Based on property information with market context.
Built in 2018, this 5,808-square-foot quadplex contains four residential units, each with three bedrooms and three full bathrooms. The units feature open-concept living areas, full kitchens, private laundry, raised ceilings, luxury vinyl plank flooring, and contemporary interior finishes. Refrigerators, washers, and dryers are included in every unit.
The property is located at 37 E Hurd St in Edmond’s downtown urban core, minutes from the University of Central Oklahoma. Restaurants, shopping, and entertainment are described as walkable from the property, placing the fourplex within an active mixed-use district.
Across the building, the configuration provides 12 bedrooms and 12 full bathrooms. The unit layout and included appliances support a consistent residential income property format.
The property is located at 37 E Hurd St in Edmond’s downtown urban core, minutes from the University of Central Oklahoma. Restaurants, shopping, and entertainment are described as walkable from the property, placing the fourplex within an active mixed-use district.
Across the building, the configuration provides 12 bedrooms and 12 full bathrooms. The unit layout and included appliances support a consistent residential income property format.
Key Highlights
- Four‑unit quadplex with 12 bedrooms and 12 full bathrooms
- 5,808‑square‑foot property built in 2018
- Each unit includes 3 bedrooms and 3 full bathrooms
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
$36,956
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
3.36%
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%
$739,120
$739.1K
Cap Rate 7%
$527,943
$527.9K
Cap Rate 9%
$410,622
$410.6K
Market Conditions
NOI Build-Up for 5,808 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
$74.6K $12.84/SF
− Vacancy
−$7.4K −$1.27/SF
EGI
$67.2K $11.57/SF
− OpEx
−$30.2K −$5.21/SF
NOI
$37.0K $6.36/SF
Area
Oklahoma County, OK
Vacancy
9.90%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
45.00%
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%
$739,120
Cap Rate 7%
$527,943
Cap Rate 9%
$410,622
Alternative Uses
Best Use
Apartment 5plus
$527.9K
$462.0K – $615.9K
NOI $36,956 @ 7.0% cap · market cap 3.36%
Second Best
Multifamily LT 5
$504.1K
$441.1K – $588.2K
NOI $35,289 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,679 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,356
Businesses Nearby
Explore this area
Business Placement
Demographics for 73034, OK
47,553
Population
18,727
Households
2.5
Avg Household Size
37
Median Age
59%
College-Educated
96%
High-School Grad
51.7 sq mi
ZIP Area
920
Density / Sq Mi
$113,296
Median Household Income
$52,163
Median Earnings
$1,203
Median Rent
$368,000
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?
Quadplex - Four residential units offer open living areas, full kitchens, private laundry, and included appliances near the University of Central Oklahoma.
Where is this quadplex located?
The property is located at 37 E Hurd St Edmond, OK.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four‑unit quadplex with 12 bedrooms and 12 full bathrooms; 5,808‑square‑foot property built in 2018; Each unit includes 3 bedrooms and 3 full bathrooms
