Updated Duplex with Private
New
For Sale
$315,000
703 Small Oaks, Midwest City, OK 73110
Two-story units include fireplaces, patios, and separate entries.
Property Size2,704 SF
Price / SF$116.49
Days on Market3
Property Features for 703 Small Oaks
General Information
Standard status
Active
Size
2,704 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 2BR/1.5BA, 1 x 3BR/1.5BA
Multifamily Units
2
Amenities
washer/dryer hookups
refrigerator
fireplace
sliding glass doors
covered patio
fenced yard
Building Details
Year Built
1985
Stories
2
Tenancy
Multi
Listing Agency:
Bailee & Co. Real Estate
Listed By:
Kiera Underwood
(479) 883-2594
Source:
Sarahflemingestates
Added: Sep 2
Last Checked: Sep 4 at 10:29AM
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 Bailee & Co. Real Estate
Investment Insights
Based on property information with market context.
This 2,704-square-foot duplex, built in 1985, contains two separately entered residences with their own garages. The 701 unit has two bedrooms and 1.5 baths, while 703 provides three bedrooms and 1.5 baths. Both residences feature two-story layouts, spacious living rooms with fireplaces, dedicated dining areas, sliding doors to covered rear patios, washer and dryer hookups, refrigerators, updated flooring, lighting, hardware, appliances, and some replacement windows.
The property sits on a corner lot with a concrete drive. Landscaping includes a fully fenced yard at 701 and a partially fenced yard at 703. Both units are occupied, with leases extending through June 30, 2026, and November 30, 2026, respectively.
The property sits on a corner lot with a concrete drive. Landscaping includes a fully fenced yard at 701 and a partially fenced yard at 703. Both units are occupied, with leases extending through June 30, 2026, and November 30, 2026, respectively.
Key Highlights
- 2,704 SF duplex on a corner lot, built in 1985
- Two units: 701 has 2 bedrooms and 1.5 baths; 703 has 3 bedrooms and 1.5 baths
- Each residence includes a private entry and a 1‑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
$17,205
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
5.46%
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%
$344,100
$344.1K
Cap Rate 7%
$245,786
$245.8K
Cap Rate 9%
$191,167
$191.2K
Market Conditions
NOI Build-Up for 2,704 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
$34.7K $12.84/SF
− Vacancy
−$3.4K −$1.27/SF
EGI
$31.3K $11.57/SF
− OpEx
−$14.1K −$5.21/SF
NOI
$17.2K $6.36/SF
Area
Oklahoma County, OK
Vacancy
9.90%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
45.00%
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%
$344,100
Cap Rate 7%
$245,786
Cap Rate 9%
$191,167
Alternative Uses
Best Use
Apartment 5plus
$245.8K
$215.1K – $286.8K
NOI $17,205 @ 7.0% cap · market cap 5.46%
Second Best
Multifamily LT 5
$234.7K
$205.4K – $273.8K
NOI $16,429 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$563.2K
$492.8K – $657.1K
NOI $39,424 @ 7.0% cap · market cap 12.52%
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
281
Businesses Nearby
Explore this area
Business Placement
Demographics for 73110, OK
33,156
Population
15,826
Households
2.1
Avg Household Size
35
Median Age
20%
College-Educated
91%
High-School Grad
15.5 sq mi
ZIP Area
2,139
Density / Sq Mi
$50,436
Median Household Income
$35,043
Median Earnings
$1,007
Median Rent
$119,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-story units include fireplaces, patios, and separate entries.
Where is this duplex located?
The property is located at 703 Small Oaks Midwest City, OK.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 2,704 SF duplex on a corner lot, built in 1985; Two units: 701 has 2 bedrooms and 1.5 baths; 703 has 3 bedrooms and 1.5 baths; Each residence includes a private entry and a 1‑car garage
