Two-Story Duplex with
For Sale
$495,000
5309 N Shartel Avenue, Oklahoma City, OK 73118
Each residence offers two bedrooms, two en suite bathrooms, and a private one-car garage.
Property Size3,427 SF
Days on Market317
Property Features for 5309 N Shartel Avenue
General Information
Standard status
Active
Size
3,427 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,261
Building Details
Building Size
3,427 SF
Year Built
1957
Buildings
1
Stories
2
Listing Agency:
Turner Chewning and Associates
Listed By:
Ken Hutmacher · License #85494
(405) 204-9052
Source:
Stetsonbentley
Added: Oct 23, 2025
Changed: Sep 4
Last Checked: Sep 4 at 11:34AM
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 Turner Chewning and Associates
Investment Insights
Based on property information with market context.
This two-story duplex contains two residential units, with each unit configured as a two-bedroom, two-bath residence. The bathrooms are en suite to the bedrooms, and both residences include private one-car garages. Generous living areas and abundant natural light are additional features of the interior layout.
Built in 1957, the property is located on N Shartel Avenue in Oklahoma City. Restaurants, shopping, and other everyday conveniences are nearby, providing a range of services within the surrounding area.
Built in 1957, the property is located on N Shartel Avenue in Oklahoma City. Restaurants, shopping, and other everyday conveniences are nearby, providing a range of services within the surrounding area.
Key Highlights
- Two‑unit duplex with two bedrooms and two bathrooms in each unit
- En suite bathroom arrangement serving each bedroom
- Private 1‑car garage included with both units
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
$31,284
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
6.32%
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%
$625,680
$625.7K
Cap Rate 7%
$446,914
$446.9K
Cap Rate 9%
$347,600
$347.6K
Market Conditions
NOI Build-Up for 3,427 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
$47.3K $13.80/SF
− Vacancy
−$2.6K −$0.76/SF
EGI
$44.7K $13.04/SF
− OpEx
−$13.4K −$3.91/SF
NOI
$31.3K $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%
$625,680
Cap Rate 7%
$446,914
Cap Rate 9%
$347,600
Alternative Uses
Best Use
Multifamily LT 5
$446.9K
$391.1K – $521.4K
NOI $31,284 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$413.5K
$361.8K – $482.5K
NOI $28,947 @ 7.0% cap · market cap 5.85%
Theoretical Best
Specialty Retail
$1.17M
$1.03M – $1.37M
NOI $82,042 @ 7.0% cap · market cap 16.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,077
Businesses Nearby
Explore this area
Business Placement
Demographics for 73118, OK
13,521
Population
7,856
Households
1.7
Avg Household Size
37
Median Age
49%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
2,817
Density / Sq Mi
$69,321
Median Household Income
$45,494
Median Earnings
$1,064
Median Rent
$252,500
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 - Each residence offers two bedrooms, two en suite bathrooms, and a private one-car garage.
Where is this duplex located?
The property is located at 5309 N Shartel Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two‑unit duplex with two bedrooms and two bathrooms in each unit; En suite bathroom arrangement serving each bedroom; Private 1‑car garage included with both units
