Duplex with Attached
For Sale
$220,000
3801 N Monroe St, Stillwater, OK 74075
Two-unit property with separate garages, updated systems, and proximity to OSU, Boomer Lake, dining, and entertainment.
Property Size2,044 SF
Price / SF$107.63
Days on Market45
Property Features for 3801 N Monroe St
General Information
Standard status
Active
Size
2,044 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,921
Building Details
Buildings
1
Listing Agency:
Fisher Provence, REALTORS
(405) 743-4440
Listed By:
Averi Blackmon
(405) 743-4440
Source:
Exprealty
Added: Jul 16
Changed: Aug 28
Last Checked: Aug 28 at 6:15AM
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 Fisher Provence, REALTORS
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each offering 2 bedrooms, 1 bath, 1,022 SF, and a single-car garage. The interiors include well-sized bedrooms and dedicated storage. One side features LVT flooring, while recent capital improvements include a roof installed in July 2026, a 2024 HVAC system, and 2025 water heaters.
Located at 3801 N Monroe St in Stillwater, the property offers access to OSU's campus, Boomer Lake, restaurants, and entertainment. The 3803 unit is leased through 5/28/27, while 3801 is vacant. Residents pay their own utilities except water, which is owner-paid.
Located at 3801 N Monroe St in Stillwater, the property offers access to OSU's campus, Boomer Lake, restaurants, and entertainment. The 3803 unit is leased through 5/28/27, while 3801 is vacant. Residents pay their own utilities except water, which is owner-paid.
Key Highlights
- Duplex totaling 2,044 SF with two 2‑bedroom, 1‑bath units
- Each unit includes a single‑car garage and storage
- New roof installed July 2026
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
$15,734
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
7.15%
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%
$314,680
$314.7K
Cap Rate 7%
$224,771
$224.8K
Cap Rate 9%
$174,822
$174.8K
Market Conditions
NOI Build-Up for 2,044 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
$25.0K $12.24/SF
− Vacancy
−$2.5K −$1.24/SF
EGI
$22.5K $11.00/SF
− OpEx
−$6.7K −$3.30/SF
NOI
$15.7K $7.70/SF
Area
Payne County, OK
Vacancy
10.16%
Lease Rate
$12.24 /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%
$314,680
Cap Rate 7%
$224,771
Cap Rate 9%
$174,822
Alternative Uses
Best Use
Multifamily LT 5
$224.8K
$196.7K – $262.2K
NOI $15,734 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$208.2K
$182.2K – $243.0K
NOI $14,577 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$502.6K
$439.8K – $586.4K
NOI $35,185 @ 7.0% cap · market cap 15.99%
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
92
Businesses Nearby
Explore this area
Business Placement
Demographics for 74075, OK
25,033
Population
12,255
Households
2
Avg Household Size
28
Median Age
50%
College-Educated
95%
High-School Grad
94.8 sq mi
ZIP Area
264
Density / Sq Mi
$45,540
Median Household Income
$23,292
Median Earnings
$933
Median Rent
$220,900
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-unit property with separate garages, updated systems, and proximity to OSU, Boomer Lake, dining, and entertainment.
Where is this duplex located?
The property is located at 3801 N Monroe St Stillwater, OK.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Duplex totaling 2,044 SF with two 2‑bedroom, 1‑bath units; Each unit includes a single‑car garage and storage; New roof installed July 2026
