Four-Unit Property with Park
For Sale
$444,000
606 N Robin Way, Mustang, OK 73064
Fully occupied quadplex with two-bedroom units, private fenced yards, and recent exterior improvements.
Property Size3,360 SF
Price / SF$132.14
Days on Market72
Property Features for 606 N Robin Way
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Quadruplex
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
fenced yards
park access
Central Elec
Gas
Shingle
Building Details
Year Built
1983
Buildings
1
Stories
1
Listing Agency:
Ken Carpenter Realty
Listed By:
Nathan Barta · License #181330
(405) 630-9889
Source:
Kw
Added: Jul 7
Changed: Sep 16
Last Checked: Sep 15 at 2:22PM
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 Ken Carpenter Realty
Investment Insights
Based on property information with market context.
This four-unit residential income property in Mustang, Oklahoma, contains approximately 3,360 square feet, with each unit measuring about 820 square feet. The units feature two bedrooms, one bathroom, central electric service, and gas. Each residence also includes a fenced yard with direct access to Centennial Park. The property is currently 100% occupied.
Exterior improvements completed during 2024-2025 include a replacement shingle roof, exterior painting, and new gutters. Built in 1983, the property is located at 606 N Robin Way within Mustang city limits. The sale is offered in its current condition, and interior access is limited while tenants remain in place.
Exterior improvements completed during 2024-2025 include a replacement shingle roof, exterior painting, and new gutters. Built in 1983, the property is located at 606 N Robin Way within Mustang city limits. The sale is offered in its current condition, and interior access is limited while tenants remain in place.
Key Highlights
- Four‑unit property with approximately 3,360 square feet
- 100% occupied at the time of listing
- Each unit is approximately 820 square feet with two bedrooms and one bathroom
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
$21,831
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
4.92%
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%
$436,620
$436.6K
Cap Rate 7%
$311,871
$311.9K
Cap Rate 9%
$242,567
$242.6K
Market Conditions
NOI Build-Up for 3,360 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
$34.3K $10.20/SF
− Vacancy
−$3.1K −$0.92/SF
EGI
$31.2K $9.28/SF
− OpEx
−$9.4K −$2.78/SF
NOI
$21.8K $6.50/SF
Area
Canadian County, OK
Vacancy
9.00%
Lease Rate
$10.20 /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%
$436,620
Cap Rate 7%
$311,871
Cap Rate 9%
$242,567
Alternative Uses
Best Use
Multifamily LT 5
$311.9K
$272.9K – $363.9K
NOI $21,831 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$262.3K
$229.5K – $306.0K
NOI $18,362 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$731.6K
$640.2K – $853.6K
NOI $51,213 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 73064, OK
25,137
Population
10,285
Households
2.4
Avg Household Size
38
Median Age
29%
College-Educated
93%
High-School Grad
53.7 sq mi
ZIP Area
468
Density / Sq Mi
$93,861
Median Household Income
$51,699
Median Earnings
$1,280
Median Rent
$236,700
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?
Quadplex - Fully occupied quadplex with two-bedroom units, private fenced yards, and recent exterior improvements.
Where is this quadplex located?
The property is located at 606 N Robin Way Mustang, OK.
What is the asking price?
The asking price for this property is $444,000.
What are key features of this property?
This property features: Four‑unit property with approximately 3,360 square feet; 100% occupied at the time of listing; Each unit is approximately 820 square feet with two bedrooms and one bathroom
