Tenant-Occupied Duplex with
For Sale
$375,000
6920 S 78th E Avenue, Tulsa, OK 74133
Residential, Tulsa, OK
Property Size3,120 SF
Lot Size0.25 Acres
Price / SF$120.19
Days on Market121
Property Features for 6920 S 78th E Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 1
Window features
Aluminum Frames, Vinyl Frames
Fencing
Privacy
Fireplace
1
Appliances
Dishwasher, Range/Oven
Subdivision
Shadow Mountain
Elementary school
Grissom
High school
Memorial
Elementary school district
Tulsa - Sch Dist (1)
Middle school district
Tulsa - Sch Dist (1)
High school district
Tulsa - Sch Dist (1)
Directions
Head west on S 71st Street from S Memorial Drive. Turn right on S 78th E Avenue. Property is on the left.
Standard status
Active
APN
37430-83-02-56970
Size
3,120 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N40.77 & S40.23 Lot 6, Block 20, Shadow Mountain I
Tax Annual Amount
5454
Legal Description
N40.77 & S40.23 Lot 6, Block 20, Shadow Mountain I
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1983
Floors in Building
2
Flooring type
Carpet, Laminate
Building materials
Wood Frame
Roof type
Fiberglass
Listing Agency:
eXp Realty, LLC
(405) 404-1924
Listed By:
Luke Gehring
(918) 829-2128
Added: May 1
Changed: Aug 22
Last Checked: Aug 29 at 4:06AM
MLS# 2615987
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 duplex property comprises two tenant-occupied residences at 6918 and 6920, with 3,120 square feet combined on a 0.248-acre lot. Built in 1983, each unit offers three bedrooms, 2.5 baths, and a two-car garage. Interior layouts place the primary suite and a half bath on the first level, with two additional bedrooms and a full bath upstairs. Living rooms include vaulted ceilings and fireplaces. Wood-frame construction, fiberglass roofing, privacy fencing, carpet and laminate flooring, central heating, and central air are also included.
Recent component updates include HVAC systems from 2019 and 2011, along with hot water heaters from 2022 and 2008. The property is located in Tulsa’s Shadow Mountain area and includes dishwashers and range/ovens in the residences.
Recent component updates include HVAC systems from 2019 and 2011, along with hot water heaters from 2022 and 2008. The property is located in Tulsa’s Shadow Mountain area and includes dishwashers and range/ovens in the residences.
Key Highlights
- Two tenant‑occupied duplex units at 6918 and 6920
- 3,120 square feet combined on a 0.248‑acre lot
- Each unit has 3 bedrooms, 2.5 baths, and a 2‑car garage
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
$28,180
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
7.51%
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%
$563,600
$563.6K
Cap Rate 7%
$402,571
$402.6K
Cap Rate 9%
$313,111
$313.1K
Market Conditions
NOI Build-Up for 3,120 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
$43.1K $13.80/SF
− Vacancy
−$2.8K −$0.90/SF
EGI
$40.3K $12.90/SF
− OpEx
−$12.1K −$3.87/SF
NOI
$28.2K $9.03/SF
Area
ZIP 74133
Vacancy
6.50%
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%
$563,600
Cap Rate 7%
$402,571
Cap Rate 9%
$313,111
Alternative Uses
Best Use
Multifamily LT 5
$402.6K
$352.3K – $469.7K
NOI $28,180 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$376.5K
$329.4K – $439.2K
NOI $26,354 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$828.0K
$724.5K – $966.0K
NOI $57,957 @ 7.0% cap · market cap 15.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
Explore this area
Business Placement
Demographics for 74133, OK
48,331
Population
22,638
Households
2.1
Avg Household Size
38
Median Age
42%
College-Educated
95%
High-School Grad
13.7 sq mi
ZIP Area
3,528
Density / Sq Mi
$73,983
Median Household Income
$43,897
Median Earnings
$1,129
Median Rent
$254,700
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 residential units feature three bedrooms, multiple baths, and individual two-car garages.
Where is this duplex located?
The property is located at 6920 S 78th E Avenue Tulsa, OK.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two tenant‑occupied duplex units at 6918 and 6920; 3,120 square feet combined on a 0.248‑acre lot; Each unit has 3 bedrooms, 2.5 baths, and a 2‑car garage
