Turnkey Duplex Investment
For Sale
$365,000
724 W El Paso Street Broken, Broken Arrow, OK 74012
Updated duplex near Rose District, fully occupied, excellent investment opportunity.
Property Size2,580 SF
Price / SF$141.47
Days on Market350
Property Features for 724 W El Paso Street Broken
General Information
Standard status
Active
Size
2,580 SF
Property subtype
Duplex
Amenities
Central Air
Gas
Central
Dishwasher
Disposal
Gas Water Heater
Microwave
Oven
Range
Patio, Porch, Electricity Available, Natural Gas Available, Water Available, Asphalt, Fiberglass
Building Details
Building Size
2,580 SF
Year Built
1998
Listing Agency:
InVision Realty
(407) 666-7699
Listed By:
Tracey Payne · License #3577381
Source:
Kw
Added: Aug 26, 2025
Changed: Aug 9
Last Checked: Jul 16 at 8:01AM
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 InVision Realty
Investment Insights
Based on property information with market context.
This turnkey duplex investment property is located approximately half a mile from the Rose District and 20 minutes from Downtown Tulsa. Both units are currently occupied. Unit 724 was updated in 2025 with new flooring, painted cabinets and walls, updated faucets, new countertops, toilet valves, and new appliances including a stove, dishwasher, and microwave. The exterior was freshly painted in December 2024. Unit 726 was updated in 2021 with new flooring, freshly painted cabinets and walls, new light fixtures, countertops, faucets, sinks, toilets, blinds, and vertical blinds. One unit features 3 bedrooms and 2 bathrooms, while the other offers 2 bedrooms and 2 bathrooms. Each unit includes a 2-car garage. The property size is 2580 square feet. This property can be sold with MLS # 2537054, 2537059, 2537061.
Key Highlights
- Turnkey duplex investment with tenants in place.
- Prime location: Half a mile from the Rose District and 20 minutes to Downtown Tulsa.
- Unit 724 updated in 2025 with new flooring, painted cabinets/walls, updated faucets, new countertops/toilet valves, and new appliances.
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
$23,427
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
6.42%
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%
$468,540
$468.5K
Cap Rate 7%
$334,671
$334.7K
Cap Rate 9%
$260,300
$260.3K
Market Conditions
NOI Build-Up for 2,580 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
$35.6K $13.80/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$33.5K $12.97/SF
− OpEx
−$10.0K −$3.89/SF
NOI
$23.4K $9.08/SF
Area
Broken Arrow, OK
Vacancy
6.00%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$468,540
Cap Rate 7%
$334,671
Cap Rate 9%
$260,300
Alternative Uses
Best Use
Multifamily LT 5
$334.7K
$292.8K – $390.5K
NOI $23,427 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$301.1K
$263.5K – $351.3K
NOI $21,080 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$603.5K
$528.1K – $704.1K
NOI $42,244 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
907
Businesses Nearby
Explore this area
Business Placement
Demographics for 74012, OK
63,918
Population
26,069
Households
2.5
Avg Household Size
37
Median Age
34%
College-Educated
94%
High-School Grad
24.8 sq mi
ZIP Area
2,577
Density / Sq Mi
$80,079
Median Household Income
$44,321
Median Earnings
$1,211
Median Rent
$223,100
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 - Updated duplex near Rose District, fully occupied, excellent investment opportunity.
Where is this duplex located?
The property is located at 724 W El Paso Street Broken Broken Arrow, OK.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Turnkey duplex investment with tenants in place.; Prime location: Half a mile from the Rose District and 20 minutes to Downtown Tulsa.; Unit 724 updated in 2025 with new flooring, painted cabinets/walls, updated faucets, new countertops/toilet valves, and new appliances.
