Leased Duplex with
For Sale
$375,000
703 NE 21st Terrace #705, Newcastle, OK 73065
Both residences are leased, and occupants pay their own utility costs.
Property Size2,562 SF
Price / SF$146.37
Days on Market23
Property Features for 703 NE 21st Terrace #705
General Information
Standard status
Active
Size
2,562 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Tenant in Place
Yes
Building Details
Building Size
2,562 SF
Year Built
2013
Stories
1
Units
2
Listing Agency:
Baca Realty Group LLC
(405) 527-2222
Listed By:
Kelley Baca · License #174371
(405) 545-0582
Source:
Eastwoodrealtygroup
Added: Oct 3
Changed: Oct 23
Last Checked: Oct 23 at 12:23PM
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
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Investment Insights
Based on property information with market context.
Built in 2013, this 2,562-square-foot duplex in Newcastle includes 3 bedrooms, 2 bathrooms, garages, and yard space. Both units are leased, with tenants responsible for utilities. The property is offered within a package of 8 duplexes.
The property is in the Bradley IV subdivision on a cul-de-sac, a couple of miles from Highway 44. Its address is 703 NE 21st Terrace #705.
The property is in the Bradley IV subdivision on a cul-de-sac, a couple of miles from Highway 44. Its address is 703 NE 21st Terrace #705.
Key Highlights
- Both units are currently leased
- Tenants are responsible for utilities
- 2,562 square feet; built in 2013
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.
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Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased, and occupants pay their own utility costs.
Where is this duplex located?
The property is located at 703 NE 21st Terrace #705 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; Tenants are responsible for utilities; 2,562 square feet; built in 2013
