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    Income-Producing Duplex Near Downtown OKC Title is generated by Realmo AI

    427 SE 17th Street, Oklahoma City, OK 73129

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    For Sale
    $149,900

    MULTI_FAMILY - Bungalow - Oklahoma City, OK

    Property size:
    1,326 SF
    Lot size:
    0.24 Acres
    Price / SF:
    $113/SF
    Added:
    Jan 12, 2026
    Days on Market:
    124
    Last Refresh:
    May 16 at 11:06 pm

    Property Features for 427 SE 17th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Bathrooms
    3
    Rooms
    Bathroom 1, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 3
    Parking
    4
    Appliances
    Refrigerator, Water Heater
    Standard status
    Active
    APN
    427SE17th73129
    Size
    1,326 SF
    Lot size
    0.24 Acres

    Utilities

    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1983
    Floors in Building
    1
    Building materials
    Brick & Frame
    Roof type
    Composition
    Architectural style
    Bungalow

    We can help!

    Listing Contact
    Victory Reneau Razavi

    Listing agent Victory Reneau Razavi License #176217

    Listing office Whittington Realty 26 SW 104th, Oklahoma City, OK

    Listing date Jan 12, 2026

    MLS# 1209474 Listing URL

    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.

    HighLights

    • Income‑producing full duplex with strong cash flow and value‑add potential.
    • Located minutes south of Downtown OKC and Scissortail Park in a rapidly growing area.
    • Below‑market rents offer significant upside potential (Unit A: $700, Unit B: $850).
    • Recent updates include foundation repair, sewer/plumbing improvements, and electrical upgrades.
    • Tenants wish to stay, providing built‑in rental stability.
    • One unit updated with fresh paint and modern touches.

    Overview

    This income-producing full duplex is located minutes south of Downtown Oklahoma City and Scissortail Park. The property features a total of 3 bedrooms and 3 bathrooms across two units, offering current cash flow and value-add potential. The duplex includes a large backyard. Unit A has 1 bedroom and 1 bathroom and is leased month-to-month at $600 per month. Unit B has 2 bedrooms and 2 bathrooms and is leased month-to-month at $660 per month. Both tenants wish to stay. Current rents are below market, with potential to increase to $700 for Unit A and $850 for Unit B. One unit has been updated with fresh paint and modern touches. Recent updates include foundation repair, sewer line and plumbing improvements, electrical upgrades, new toilet and drywall repairs, and a new refrigerator in one unit. The property also features window units that are one year old and hot water heaters from 2016 and 2017. The property size is 1326 square feet and the lot size is 0.241 acres. This property is an opportunity for investors seeking cash flow, portfolio expansion, or development in a rapidly growing area.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $134.5K
    NOI $12,105 @ 9.00% cap · cautious / downside scenario
    Moderate
    $172.9K
    NOI $12,105 @ 7.00% cap · market / base-case scenario
    Aggressive
    $242.1K
    NOI $12,105 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $18.3k $13.80
    − Vacancy −$1.0k −$0.76
    EGI $17.3k $13.04
    − OpEx −$5.2k −$3.91
    NOI $12.1k $9.13
    1,326 SF · lease $13.80/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $172.9K
    $151.3K – $201.8K (±1% cap)
    NOI $12,105 @ 7.0% cap · market cap 8.08%
    Second Best
    Apartment 5plus
    $160.0K
    $140.0K – $186.7K (±1% cap)
    NOI $11,200 @ 7.0% cap · market cap 7.47%
    Theoretical Best
    Specialty Retail
    $453.5K
    $396.8K – $529.1K (±1% cap)
    NOI $31,744 @ 7.0% cap · market cap 21.18%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.503982
    Latitude
    35.448077

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    FAQs

    What type of property is this?
    Duplex - Full duplex with cash flow and value-add potential.
    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: Income‑producing full duplex with strong cash flow and value‑add potential.; Located minutes south of Downtown OKC and Scissortail Park in a rapidly growing area.; Below‑market rents offer significant upside potential (Unit A: $700, Unit B: $850).
    (405) 816-1021
    We can help!
    Listing Contact
    Victory Reneau Razavi
    Real Estate License ID: 176217
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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