Leased Duplex with Two-Car
For Sale
$375,000
707-705 Ne 21st St, Newcastle, OK 73065
Both residences are occupied, with tenants covering their utility costs.
Property Size2,558 SF
Price / SF$146.60
Days on Market11
Property Features for 707-705 Ne 21st St
General Information
Standard status
Active
Size
2,558 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Baca Realty Group LLC
(405) 527-2222
Listed By:
Kelley Baca · License #174371
(405) 545-0582
Source:
Exprealty
Added: Oct 3
Changed: Oct 7
Last Checked: Oct 12 at 8:30PM
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 duplex contains two leased residences, each with three bedrooms and two bathrooms. The property includes two-car garages and spacious yards, with a cul-de-sac setting. The combined building area is 2,558 square feet.
The property is in the Bradley IV subdivision in Newcastle, a couple of miles from Highway 44, which connects to Oklahoma City and surrounding areas. It is offered as part of an eight-duplex package.
The property is in the Bradley IV subdivision in Newcastle, a couple of miles from Highway 44, which connects to Oklahoma City and surrounding areas. It is offered as part of an eight-duplex package.
Key Highlights
- Two leased units, each with 3 bedrooms and 2 bathrooms
- 2,558 square feet of building area
- 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
Current Use
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied, with tenants covering their utility costs.
Where is this duplex located?
The property is located at 707-705 Ne 21st St 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: Two leased units, each with 3 bedrooms and 2 bathrooms; 2,558 square feet of building area; Two‑car garages and spacious yards
