Duplex with Two-Car
704 NE 21st Terrace #706, Newcastle, OK 73065
For Sale
$368,888
Both residences are leased, and tenants cover their own utility costs.
Property Size2,558 SF
Price / SF$144.21
Days on Market39
Property Features for 704 NE 21st Terrace #706
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Highway Access
Multifamily Units
Tenant in Place
Building Details
Building Size
Year Built
Stories
Units
Tenancy
Listing Agency:
Baca Realty Group LLC
(405) 527-2222
Listed By:
Kelley Baca · License OK #174371
(405) 545-0582
Source:
Covingtoncompany
Added: Oct 3
Changed: Nov 8
Last Checked: Nov 9 at 2:28PM
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 has two-car garages and yard space. The floor plan is described as three bedrooms and two bathrooms, and both residences are leased. Tenants pay their own utility costs. The property is included in a package of eight duplexes in Newcastle’s Bradley IV subdivision, a couple of miles from Highway 44.
Key Highlights
- 2,558‑square‑foot duplex built in 2014
- Both residences are leased; tenants pay their own utilities
- Two‑car garages and yard space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,336
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,720
$446.7K
Cap Rate 7%
$319,086
$319.1K
Cap Rate 9%
$248,178
$248.2K
Market Conditions
NOI Build-Up for 2,558 SF
Gross rent
$33.8K $13.20/SF
− Vacancy
−$1.9K −$0.73/SF
EGI
$31.9K $12.47/SF
− OpEx
−$9.6K −$3.74/SF
NOI
$22.3K $8.73/SF
Area
McClain County, OK
Vacancy
5.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,720
Cap Rate 7%
$319,086
Cap Rate 9%
$248,178
Alternative Uses
Best Use
Multifamily LT 5
$319.1K
$279.2K – $372.3K
NOI $22,336 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$297.2K
$260.1K – $346.8K
NOI $20,806 @ 7.0% cap · market cap 5.64%
Theoretical Best
Specialty Retail
$618.3K
$541.0K – $721.4K
NOI $43,281 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased, and tenants cover their own utility costs.
Where is this duplex located?
The property is located at 704 NE 21st Terrace #706 Newcastle, OK.
What is the asking price?
The asking price for this property is $368,888.
What are key features of this property?
This property features: 2,558‑square‑foot duplex built in 2014; Both residences are leased; tenants pay their own utilities; Two‑car garages and yard space
