Updated 8-Bedroom
New
For Sale
$340,000
528 Westwood Court, Oklahoma City, OK 73127
Vacant, refreshed duplex with private fenced yards and flexible owner-occupant or rental use.
Property Size3,074 SF
Days on Market7
Property Features for 528 Westwood Court
General Information
Standard status
Active
Size
3,074 SF
Property subtype
Duplex
Units
Unit Mix
2 x 4BR/2.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,424
Amenities
private fenced backyard
Building Details
Building Size
3,074 SF
Year Built
1979
Buildings
1
Listing Agency:
OK Flat Fee Realty
Listed By:
Chance Daggs · License #177744
(405) 759-8448
Source:
Stetsonbentley
Added: Sep 5
Changed: Sep 8
Last Checked: Sep 10 at 6:07AM
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 OK Flat Fee Realty
Investment Insights
Based on property information with market context.
Built in 1979, this fully vacant duplex has been recently updated and provides 8 bedrooms and 5 bathrooms across both units. Each side includes 4 bedrooms, 2.5 bathrooms, a generous living area, an updated kitchen and bathroom, contemporary flooring and fixtures, oversized bedrooms, and a private fenced backyard.
The property sits on a quiet cul-de-sac within an established neighborhood in Oklahoma City, with access to shopping, dining, schools, and major highways. Both units are currently vacant, allowing the next owner to select occupants and establish lease terms. The two-unit layout also supports living in one residence while leasing the other, leasing both units, or accommodating multigenerational household needs.
The property sits on a quiet cul-de-sac within an established neighborhood in Oklahoma City, with access to shopping, dining, schools, and major highways. Both units are currently vacant, allowing the next owner to select occupants and establish lease terms. The two-unit layout also supports living in one residence while leasing the other, leasing both units, or accommodating multigenerational household needs.
Key Highlights
- Two‑unit duplex with 8 bedrooms and 5 bathrooms total
- Each unit includes 4 bedrooms and 2.5 bathrooms
- Recently updated kitchens, bathrooms, flooring, and fixtures
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
$28,062
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
8.25%
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%
$561,240
$561.2K
Cap Rate 7%
$400,886
$400.9K
Cap Rate 9%
$311,800
$311.8K
Market Conditions
NOI Build-Up for 3,074 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
$42.4K $13.80/SF
− Vacancy
−$2.3K −$0.76/SF
EGI
$40.1K $13.04/SF
− OpEx
−$12.0K −$3.91/SF
NOI
$28.1K $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%
$561,240
Cap Rate 7%
$400,886
Cap Rate 9%
$311,800
Alternative Uses
Best Use
Multifamily LT 5
$400.9K
$350.8K – $467.7K
NOI $28,062 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$370.9K
$324.6K – $432.8K
NOI $25,965 @ 7.0% cap · market cap 7.64%
Theoretical Best
Specialty Retail
$1.05M
$919.9K – $1.23M
NOI $73,592 @ 7.0% cap · market cap 21.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Explore this area
Business Placement
Demographics for 73127, OK
27,007
Population
11,329
Households
2.4
Avg Household Size
32
Median Age
16%
College-Educated
76%
High-School Grad
11.3 sq mi
ZIP Area
2,390
Density / Sq Mi
$46,020
Median Household Income
$28,766
Median Earnings
$926
Median Rent
$139,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant, refreshed duplex with private fenced yards and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 528 Westwood Court Oklahoma City, OK.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Two‑unit duplex with 8 bedrooms and 5 bathrooms total; Each unit includes 4 bedrooms and 2.5 bathrooms; Recently updated kitchens, bathrooms, flooring, and fixtures
