Duplex with Covered
For Sale
$305,000
4609 S 72nd East Avenue, Tulsa, OK 74145
Two units share a floor plan with small fenced yards, while one side is occupied by long-term tenants.
Property Size3,076 SF
Days on Market40
Property Features for 4609 S 72nd East Avenue
General Information
Standard status
Active
Size
3,076 SF
Property subtype
Multi Family Home
Property Condition
Severity
Repairs Needed
Evidence
ready for buyers' choice on Kitchen remodel and flooring
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,729
Amenities
covered patio area
small fenced yards
Building Details
Building Size
3,076 SF
Year Built
1978
Buildings
1
Stories
1
Units
2
Listing Agency:
Rich Stephens
(918) 289-5951
Listed By:
Dawn M Elmore
(918) 289-5951
Source:
Eufaulaproperties
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 29 at 10:17AM
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 Rich Stephens
Investment Insights
Based on property information with market context.
Built in 1978, this duplex includes two units with matching floor plans. The 4609 side features fresh interior paint, ceramic tile in the living and traffic areas, a spacious primary bedroom, and a Jack-and-Jill bathroom serving the second and third bedrooms. Kitchen remodeling and flooring selections remain available for the buyer to determine. Both units provide a covered patio and a small fenced yard.
The 4611 unit is occupied by long-term tenants, while the 4609 unit is available for the buyer’s planned updates. The property is located at 4609 S 72nd East Avenue in Tulsa, with access to highways, shopping, hospitals, and Lafortune Park.
The 4611 unit is occupied by long-term tenants, while the 4609 unit is available for the buyer’s planned updates. The property is located at 4609 S 72nd East Avenue in Tulsa, with access to highways, shopping, hospitals, and Lafortune Park.
Key Highlights
- Duplex built in 1978 with matching floor plans
- 4611 unit occupied by long‑term tenants
- 4609 side has fresh interior paint and ceramic tile in living and traffic areas
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
$27,438
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
9.00%
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%
$548,760
$548.8K
Cap Rate 7%
$391,971
$392.0K
Cap Rate 9%
$304,867
$304.9K
Market Conditions
NOI Build-Up for 3,076 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
$55.4K $18.00/SF
− Vacancy
−$5.5K −$1.78/SF
EGI
$49.9K $16.22/SF
− OpEx
−$22.4K −$7.30/SF
NOI
$27.4K $8.92/SF
Area
Tulsa, OK
Vacancy
9.90%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$548,760
Cap Rate 7%
$391,971
Cap Rate 9%
$304,867
Alternative Uses
Best Use
Multifamily LT 5
$428.1K
$374.6K – $499.4K
NOI $29,964 @ 7.0% cap · market cap 9.82%
Second Best
Apartment 5plus
$392.0K
$343.0K – $457.3K
NOI $27,438 @ 7.0% cap · market cap 9.00%
Theoretical Best
Office A
$656.1K
$574.1K – $765.4K
NOI $45,924 @ 7.0% cap · market cap 15.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,330
Businesses Nearby
Explore this area
Business Placement
Demographics for 74145, OK
18,055
Population
8,523
Households
2.1
Avg Household Size
36
Median Age
27%
College-Educated
90%
High-School Grad
5.9 sq mi
ZIP Area
3,060
Density / Sq Mi
$55,118
Median Household Income
$37,021
Median Earnings
$1,039
Median Rent
$160,700
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 units share a floor plan with small fenced yards, while one side is occupied by long-term tenants.
Where is this duplex located?
The property is located at 4609 S 72nd East Avenue Tulsa, OK.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Duplex built in 1978 with matching floor plans; 4611 unit occupied by long‑term tenants; 4609 side has fresh interior paint and ceramic tile in living and traffic areas
