Two-Bedroom
For Sale
$122,000
7611 NW 113th Place, Oklahoma City, OK 73162
Functional interior includes a fireplace, formal dining area, laundry room, and attached garage.
Property Size1,002 SF
Price / SF$121.76
Days on Market42
Property Features for 7611 NW 113th Place
General Information
Standard status
Active
Size
1,002 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
a little cosmetic updating
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
wood-burning fireplace
formal dining area
laundry room
backyard
Building Details
Year Built
1984
Listing Agency:
Hive Real Estate
(405) 509-0541
Listed By:
Homestead & Co
(405) 509-0541
Source:
Homesteadrealtyco
Added: Jul 22
Changed: Aug 31
Last Checked: Aug 31 at 2:37PM
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 Hive Real Estate
Investment Insights
Based on property information with market context.
This half-duplex multifamily property offers 1002 square feet with a practical two-bedroom, two-bathroom layout. The interior includes a living room with a wood-burning fireplace, a formal dining area, and a laundry room positioned between the attached one-car garage and kitchen. New vinyl flooring extends through the living room and both bedrooms, while the roof was replaced in 2023. Fresh appliances and additional cosmetic updating remain for the next owner.
The property includes a good-sized backyard with space for outdoor use, gardening, entertaining, or pets. Built in 1984, it is located in the Putnam City School District at 7611 NW 113th Place in Oklahoma City. Shopping, restaurants, major highways, and everyday amenities are described as minutes away.
The property includes a good-sized backyard with space for outdoor use, gardening, entertaining, or pets. Built in 1984, it is located in the Putnam City School District at 7611 NW 113th Place in Oklahoma City. Shopping, restaurants, major highways, and everyday amenities are described as minutes away.
Key Highlights
- 1002 square feet in a half‑duplex multifamily property
- Two bedrooms and two full bathrooms
- Roof replaced in 2023
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
$8,150
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
6.68%
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%
$163,000
$163.0K
Cap Rate 7%
$116,429
$116.4K
Cap Rate 9%
$90,556
$90.6K
Market Conditions
NOI Build-Up for 1,002 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
$15.6K $15.60/SF
− Vacancy
−$813 −$0.81/SF
EGI
$14.8K $14.79/SF
− OpEx
−$6.7K −$6.65/SF
NOI
$8.2K $8.13/SF
Area
ZIP 73162
Vacancy
5.20%
Lease Rate
$15.60 /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%
$163,000
Cap Rate 7%
$116,429
Cap Rate 9%
$90,556
Alternative Uses
Best Use
Apartment 5plus
$116.4K
$101.9K – $135.8K
NOI $8,150 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$403.3K
$352.9K – $470.5K
NOI $28,228 @ 7.0% cap · market cap 23.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
Explore this area
Business Placement
Demographics for 73162, OK
28,867
Population
12,454
Households
2.3
Avg Household Size
44
Median Age
47%
College-Educated
95%
High-School Grad
7.1 sq mi
ZIP Area
4,066
Density / Sq Mi
$89,984
Median Household Income
$48,451
Median Earnings
$1,147
Median Rent
$234,800
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?
Multifamily property - Functional interior includes a fireplace, formal dining area, laundry room, and attached garage.
Where is this multifamily property located?
The property is located at 7611 NW 113th Place Oklahoma City, OK.
What is the asking price?
The asking price for this property is $122,000.
What are key features of this property?
This property features: 1002 square feet in a half‑duplex multifamily property; Two bedrooms and two full bathrooms; Roof replaced in 2023
