Brick Duplex with Updated
For Sale
$149,900
427 SE 17th Street, Oklahoma City, OK 73129
Residential Income, Oklahoma City, OK
Property Size1,326 SF
Lot Size0.24 Acres
Price / SF$113.05
Days on Market49
Property Features for 427 SE 17th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 1
Parking
4
Appliances
Refrigerator, Water Heater
Lot features
Interior Lot
Elementary school
Cesar Chavez ES
Middle school
Capitol Hill MS
High school
Capitol Hill HS
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
South on Shields to 15th East to Byers South to 17th and West to Property
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
Listing Agency:
Whittington Realty
(405) 703-4100
Listed By:
Victory Reneau Razavi · License #176217
(405) 816-1021
Added: Jul 15
Changed: Aug 21
Last Checked: Sep 1 at 9:06AM
MLS# 1239465
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 1,326-square-foot duplex contains two residential units totaling three bedrooms and three bathrooms. Unit A has one bedroom and one bathroom, while Unit B includes two bedrooms and two bathrooms. Both units are leased month-to-month, and the current tenants wish to remain. The property features brick-and-frame construction, a bungalow design, composition roofing, window-unit cooling, and a 0.241-acre lot with a large backyard.
Recent work includes foundation repair, sewer and plumbing improvements, electrical upgrades, a new toilet, drywall repairs, and a new refrigerator in one unit. The water heaters date to 2016 and 2017, and the window units are one year old. Located at 427 SE 17th Street in Oklahoma City, the property is minutes south of Downtown Oklahoma City and Scissortail Park.
Recent work includes foundation repair, sewer and plumbing improvements, electrical upgrades, a new toilet, drywall repairs, and a new refrigerator in one unit. The water heaters date to 2016 and 2017, and the window units are one year old. Located at 427 SE 17th Street in Oklahoma City, the property is minutes south of Downtown Oklahoma City and Scissortail Park.
Key Highlights
- Full duplex with 1,326 square feet and 3 bedrooms across 2 units
- Unit A: 1 bedroom, 1 bathroom; Unit B: 2 bedrooms, 2 bathrooms
- Both units leased month‑to‑month with tenants wishing to remain
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
206
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two leased units provide an existing residential income configuration with separate one-bedroom and two-bedroom layouts.
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: Full duplex with 1,326 square feet and 3 bedrooms across 2 units; Unit A: 1 bedroom, 1 bathroom; Unit B: 2 bedrooms, 2 bathrooms; Both units leased month‑to‑month with tenants wishing to remain
