Renovated Two-Unit
For Sale
$500,000
3717 N Olie Avenue, Oklahoma City, OK 73118
Residential Income, Oklahoma City, OK
Property Size2,468 SF
Lot Size0.21 Acres
Price / SF$202.59
Days on Market128
Property Features for 3717 N Olie Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 1
Parking
2
Fireplace
1
Appliances
Dishwasher, Microwave, Refrigerator, Washer/Dryer, Water Heater
Lot features
Interior Lot
Elementary school
Wilson ES
Middle school
Moon MS
High school
Douglass HS
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
From the intersection of NW 36th and Western, head east on NW 36th. Turn North onto N Olie Ave. The property is on the west side of the street.
Standard status
Active
APN
3717NOlie73118
Size
2,468 SF
Lot size
0.21 Acres
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Electric
Amenities
fenced yard
Building Details
Year built
1941
Floors in Building
2
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Verbode
(405) 757-7001
Listed By:
Gary Caplinger
(405) 694-8562
Added: Apr 18
Changed: Aug 21
Last Checked: Aug 23 at 11:06AM
MLS# 1223844
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.
This 2,468-square-foot duplex, built in 1941, contains two matching flats with two bedrooms and one bathroom each. Both units feature hardwood floors, mock fireplaces, and renovated kitchens with walnut cabinetry and quartzite countertops. The upstairs residence adds built-in living-room shelving and a private second-floor balcony. The property has a composition roof, brick-and-frame construction, central air, natural-gas heat, and a fenced yard.
Four off-street parking spaces are provided behind the building, including two covered garage spaces and two uncovered spaces. The lower unit is leased through October, while the upper unit is vacant. The property is in Historic Crown Heights and within walking distance of the Western Avenue District. The downstairs unit received new HVAC, ductwork, and a tankless water heater in 2024.
Four off-street parking spaces are provided behind the building, including two covered garage spaces and two uncovered spaces. The lower unit is leased through October, while the upper unit is vacant. The property is in Historic Crown Heights and within walking distance of the Western Avenue District. The downstairs unit received new HVAC, ductwork, and a tankless water heater in 2024.
Key Highlights
- Two‑unit duplex totaling 2,468 square feet
- Each flat includes 2 bedrooms and 1 bathroom
- Renovated kitchens with walnut cabinetry and quartzite countertops
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
$22,530
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
4.51%
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%
$450,600
$450.6K
Cap Rate 7%
$321,857
$321.9K
Cap Rate 9%
$250,333
$250.3K
Market Conditions
NOI Build-Up for 2,468 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
$34.1K $13.80/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$32.2K $13.04/SF
− OpEx
−$9.7K −$3.91/SF
NOI
$22.5K $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%
$450,600
Cap Rate 7%
$321,857
Cap Rate 9%
$250,333
Alternative Uses
Best Use
Multifamily LT 5
$321.9K
$281.6K – $375.5K
NOI $22,530 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$297.8K
$260.6K – $347.4K
NOI $20,846 @ 7.0% cap · market cap 4.17%
Theoretical Best
Specialty Retail
$844.1K
$738.6K – $984.7K
NOI $59,084 @ 7.0% cap · market cap 11.82%
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
786
Businesses Nearby
Explore this area
Business Placement
Demographics for 73118, OK
13,521
Population
7,856
Households
1.7
Avg Household Size
37
Median Age
49%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
2,817
Density / Sq Mi
$69,321
Median Household Income
$45,494
Median Earnings
$1,064
Median Rent
$252,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Updated flats offer owner-occupant flexibility, rental income potential, and four off-street parking spaces.
Where is this duplex located?
The property is located at 3717 N Olie Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,468 square feet; Each flat includes 2 bedrooms and 1 bathroom; Renovated kitchens with walnut cabinetry and quartzite countertops
