Leased Duplex with
New
For Sale
$375,000
699 NE 21st Terrace Unit 701, Newcastle, OK 73065
Both residences are leased, and tenants pay their own utility costs.
Property Size2,562 SF
Price / SF$146.37
Days on Market7
Property Features for 699 NE 21st Terrace Unit 701
General Information
Standard status
Active
Size
2,562 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
2013
Buildings
1
Listing Agency:
Baca Realty Group LLC
Listed By:
Kelley Baca, Jason Baca
Source:
Alloverok
Added: Oct 7
Last Checked: Oct 7 at 2:30PM
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 Baca Realty Group LLC
Investment Insights
Based on property information with market context.
This 2013 duplex in Newcastle measures 2,562 square feet and includes two-car garages and spacious yards. The property is situated on a cul-de-sac, and both residences are currently leased. Tenants pay the utilities, limiting the expenses assigned to the property owner.
The duplex is a few miles from Highway 44, with access toward Oklahoma City and nearby areas. It is offered as part of an eight-duplex package, allowing acquisition alongside seven other duplexes.
The duplex is a few miles from Highway 44, with access toward Oklahoma City and nearby areas. It is offered as part of an eight-duplex package, allowing acquisition alongside seven other duplexes.
Key Highlights
- Both units are currently leased
- 2,562 square feet; built in 2013
- Two‑car garages and spacious yards
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,945
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,900
$478.9K
Cap Rate 7%
$342,071
$342.1K
Cap Rate 9%
$266,056
$266.1K
Market Conditions
NOI Build-Up for 2,562 SF
Gross rent
$36.6K $14.28/SF
− Vacancy
−$2.4K −$0.93/SF
EGI
$34.2K $13.35/SF
− OpEx
−$10.3K −$4.01/SF
NOI
$23.9K $9.35/SF
Area
McClain County, OK
Vacancy
6.50%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,900
Cap Rate 7%
$342,071
Cap Rate 9%
$266,056
Alternative Uses
Best Use
Multifamily LT 5
$342.1K
$299.3K – $399.1K
NOI $23,945 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$316.5K
$277.0K – $369.3K
NOI $22,158 @ 7.0% cap · market cap 5.91%
Theoretical Best
Specialty Retail
$619.3K
$541.9K – $722.5K
NOI $43,349 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Explore this area
Business Placement
Demographics for 73065, OK
9,725
Population
4,413
Households
2.2
Avg Household Size
38
Median Age
32%
College-Educated
91%
High-School Grad
51.8 sq mi
ZIP Area
188
Density / Sq Mi
$93,451
Median Household Income
$51,717
Median Earnings
$990
Median Rent
$240,400
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 - Both residences are leased, and tenants pay their own utility costs.
Where is this duplex located?
The property is located at 699 NE 21st Terrace Unit 701 Newcastle, 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: Both units are currently leased; 2,562 square feet; built in 2013; Two‑car garages and spacious yards
