Leased Duplex with Two-Car
For Sale
$375,000
704 NE 21st Street #706, Newcastle, OK 73065
Both residences are occupied, and tenants cover their utility costs.
Property Size2,558 SF
Price / SF$146.60
Days on Market23
Property Features for 704 NE 21st Street #706
General Information
Standard status
Active
Size
2,558 SF
Property subtype
Residential Income
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Building Details
Building Size
2,558 SF
Year Built
2014
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 3:14PM
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 2014, this 2,558-square-foot duplex includes two-car garages and yard space. Both units are leased, with tenants responsible for utilities. The property is offered within an eight-duplex package, allowing acquisition alongside other rental properties.
The duplex is at 704 NE 21st Street in Newcastle’s Bradley IV subdivision, on a cul-de-sac and a couple of miles from Highway 44. The property is identified as part of a package; the interior photographs provided for marketing depict a neighboring unit with the same floor plan and similar finishes.
The duplex is at 704 NE 21st Street in Newcastle’s Bradley IV subdivision, on a cul-de-sac and a couple of miles from Highway 44. The property is identified as part of a package; the interior photographs provided for marketing depict a neighboring unit with the same floor plan and similar finishes.
Key Highlights
- 2,558 square feet; built in 2014
- Both units are leased, and tenants pay their own utilities
- Two‑car garages and spacious yards
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,908
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,160
$478.2K
Cap Rate 7%
$341,543
$341.5K
Cap Rate 9%
$265,644
$265.6K
Market Conditions
NOI Build-Up for 2,558 SF
Gross rent
$36.5K $14.28/SF
− Vacancy
−$2.4K −$0.93/SF
EGI
$34.2K $13.35/SF
− OpEx
−$10.2K −$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%
$478,160
Cap Rate 7%
$341,543
Cap Rate 9%
$265,644
Alternative Uses
Best Use
Multifamily LT 5
$341.5K
$298.9K – $398.5K
NOI $23,908 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$316.0K
$276.5K – $368.7K
NOI $22,123 @ 7.0% cap · market cap 5.90%
Theoretical Best
Specialty Retail
$618.3K
$541.0K – $721.4K
NOI $43,281 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road 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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied, and tenants cover their utility costs.
Where is this duplex located?
The property is located at 704 NE 21st Street #706 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: 2,558 square feet; built in 2014; Both units are leased, and tenants pay their own utilities; Two‑car garages and spacious yards
