Duplex with Large
For Sale
$149,900
427 SE 17th Street, Oklahoma City, OK 73129
Two-unit property with recent foundation, plumbing, electrical, and interior improvements near Downtown Oklahoma City.
Property Size1,326 SF
Days on Market29
Property Features for 427 SE 17th Street
General Information
Standard status
Active
Size
1,326 SF
Total Parking Spaces
4
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,128
Amenities
large backyard
Building Details
Building Size
1,326 SF
Year Built
1983
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Whittington Realty
(405) 816-1021
Listed By:
Victory Reneau Razavi · License #176217
(405) 816-1021
Source:
Jarmanrealtyok
Added: Jul 15
Changed: Aug 5
Last Checked: Aug 11 at 2:28PM
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 Whittington Realty
Investment Insights
Based on property information with market context.
This two-unit residential income property was built in 1983 and includes 3 bedrooms and 3 bathrooms overall. Unit A offers 1 bedroom and 1 bathroom, while Unit B provides 2 bedrooms and 2 bathrooms. Both units are leased month-to-month, and the current occupants wish to remain. Recent work includes foundation repair by Triton Foundation, sewer line and plumbing improvements, electrical upgrades, a new toilet, drywall repairs, and a new refrigerator in one unit. Window units are 1 year old, and the hot water heaters date to 2016 and 2017. A large backyard adds outdoor space to the property.
The duplex is located at 427 SE 17th Street in Oklahoma City, with proximity to Downtown Oklahoma City and Scissortail Park. Unit B showings are limited to Tuesdays and Thursdays, and tenant privacy applies.
The duplex is located at 427 SE 17th Street in Oklahoma City, with proximity to Downtown Oklahoma City and Scissortail Park. Unit B showings are limited to Tuesdays and Thursdays, and tenant privacy applies.
Key Highlights
- 3 bedrooms and 3 bathrooms across the duplex
- Unit A has 1 bedroom and 1 bathroom; Unit B has 2 bedrooms and 2 bathrooms
- Built in 1983 with foundation, sewer, plumbing, and electrical improvements
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
$12,105
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
8.08%
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%
$242,100
$242.1K
Cap Rate 7%
$172,929
$172.9K
Cap Rate 9%
$134,500
$134.5K
Market Conditions
NOI Build-Up for 1,326 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
$18.3K $13.80/SF
− Vacancy
−$1.0K −$0.76/SF
EGI
$17.3K $13.04/SF
− OpEx
−$5.2K −$3.91/SF
NOI
$12.1K $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%
$242,100
Cap Rate 7%
$172,929
Cap Rate 9%
$134,500
Alternative Uses
Best Use
Multifamily LT 5
$172.9K
$151.3K – $201.8K
NOI $12,105 @ 7.0% cap · market cap 8.08%
Second Best
Apartment 5plus
$160.0K
$140.0K – $186.7K
NOI $11,200 @ 7.0% cap · market cap 7.47%
Theoretical Best
Specialty Retail
$453.5K
$396.8K – $529.1K
NOI $31,744 @ 7.0% cap · market cap 21.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
Explore this area
Business Placement
Demographics for 73129, OK
19,971
Population
7,569
Households
2.6
Avg Household Size
31
Median Age
6%
College-Educated
67%
High-School Grad
12.5 sq mi
ZIP Area
1,598
Density / Sq Mi
$43,941
Median Household Income
$28,481
Median Earnings
$914
Median Rent
$76,400
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 recent foundation, plumbing, electrical, and interior improvements near Downtown Oklahoma City.
Where is this duplex located?
The property is located at 427 SE 17th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: 3 bedrooms and 3 bathrooms across the duplex; Unit A has 1 bedroom and 1 bathroom; Unit B has 2 bedrooms and 2 bathrooms; Built in 1983 with foundation, sewer, plumbing, and electrical improvements
