Quadplex on Corner
For Sale
$215,000
598 2nd Street, Healdton, OK 73438
DUPLEX - Healdton, OK
Property Size2,304 SF
Lot Size0.41 Acres
Price / SF$93.32
Days on Market180
Property Features for 598 2nd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 4, Bathroom 1, Bathroom 3, Bedroom 5, Bedroom 3, Bedroom 6, Bedroom 2
Patio and Porch features
Porch
Subdivision
Sunrise Add
Lot features
Additional Residence, Corner Lot
Elementary school
Healdton
High school
Healdton
Elementary school district
Healdton - Sch Dist (HE4)
Middle school district
Healdton - Sch Dist (HE4)
High school district
Healdton - Sch Dist (HE4)
Directions
From Ardmore: Take US-70 West turn right onto SH-76 towards Healdton and turn left onto 2nd street, properties on corner of Texas and 2nd.
Standard status
Active
Size
2,304 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Surface Rights Only: See Legal Description Supplement.
Tax Annual Amount
1728
Legal Description
Surface Rights Only: See Legal Description Supplement.
Building Details
Year built
1945
Floors in Building
1
Building materials
Wood Frame
Roof type
Fiberglass
Architectural style
Bungalow
Listing Agency:
Ardmore Realty, Inc
(580) 226-4200
Listed By:
Hannah Lewis · License #181598
(580) 226-4200
Added: Feb 23
Changed: Aug 4
Last Checked: Aug 22 at 8:06PM
MLS# 2605399
Copyright © 2026 MLS Technology, 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 quadplex package offers four rental units grouped together on a corner lot in Healdton, OK. The property includes two 1-bed, 1-bath units and two 2-bed, 1-bath units. All four units are currently rented with year leases in place. Updates have been made in each unit, and the driveway was recently redone.
The building is a wood-frame bungalow constructed in 1945. The roof is fiberglass, and the property includes a porch. The lot size is 0.41 acres, and the property size is 2,304 square feet.
The four units are positioned as an income-in-place opportunity for buyers looking to add doors to a rental portfolio while maintaining the existing unit mix and lease status.
The building is a wood-frame bungalow constructed in 1945. The roof is fiberglass, and the property includes a porch. The lot size is 0.41 acres, and the property size is 2,304 square feet.
The four units are positioned as an income-in-place opportunity for buyers looking to add doors to a rental portfolio while maintaining the existing unit mix and lease status.
Key Highlights
- Four‑unit quadplex on a corner lot
- Two 1‑bed, 1‑bath units and two 2‑bed, 1‑bath units
- All four units currently rented with year leases in place
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
$17,909
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
8.33%
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%
$358,180
$358.2K
Cap Rate 7%
$255,843
$255.8K
Cap Rate 9%
$198,989
$199.0K
Market Conditions
NOI Build-Up for 2,304 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
$28.5K $12.36/SF
− Vacancy
−$2.9K −$1.26/SF
EGI
$25.6K $11.10/SF
− OpEx
−$7.7K −$3.33/SF
NOI
$17.9K $7.77/SF
Area
Carter County, OK
Vacancy
10.16%
Lease Rate
$12.36 /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%
$358,180
Cap Rate 7%
$255,843
Cap Rate 9%
$198,989
Alternative Uses
Best Use
Multifamily LT 5
$255.8K
$223.9K – $298.5K
NOI $17,909 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$234.7K
$205.4K – $273.9K
NOI $16,431 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$590.9K
$517.0K – $689.4K
NOI $41,361 @ 7.0% cap · market cap 19.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Explore this area
Business Placement
Demographics for 73438, OK
2,888
Population
1,562
Households
1.8
Avg Household Size
42
Median Age
15%
College-Educated
83%
High-School Grad
70.4 sq mi
ZIP Area
41
Density / Sq Mi
$50,542
Median Household Income
$34,254
Median Earnings
$845
Median Rent
$70,900
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?
Quadplex - Four-unit wood-frame quadplex on a corner lot with all units currently rented under year leases.
Where is this quadplex located?
The property is located at 598 2nd Street Healdton, OK.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Four‑unit quadplex on a corner lot; Two 1‑bed, 1‑bath units and two 2‑bed, 1‑bath units; All four units currently rented with year leases in place
