Multifamily Townhome
New
For Sale
$1,625,000
807 W 7th Avenue #See Unit Details, Stillwater, OK 74074
New four-bedroom residences near Oklahoma State University offer modern finishes and a student-oriented location.
Property Size6,964 SF
Days on Market6
Property Features for 807 W 7th Avenue #See Unit Details
General Information
Standard status
Active
Size
6,964 SF
Total Parking Spaces
16
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,942
Building Details
Building Size
6,964 SF
Year Built
2026
Stories
2
Units
4
Listing Agency:
Look Properties, LLC
(405) 269-0323
Listed By:
Cory Williams · License #160727
(405) 269-0323
Source:
Jarmanrealtyok
Added: Aug 6
Changed: Aug 10
Last Checked: Aug 11 at 1:31PM
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 Look Properties, LLC
Investment Insights
Based on property information with market context.
The Courts is a multifamily townhome development scheduled for completion in 2026, with four-bedroom, four-bathroom residences designed for student housing. Planned interior features include stainless steel appliances, marble countertops, and luxury vinyl plank flooring. The property is scheduled for move-in on August 15th, and one unit is already leased while the others are being marketed.
Located at 807 W 7th Avenue in Stillwater, the community sits behind the tennis courts off Washington Street. Oklahoma State University is approximately a 9-minute walk away, with the Strip and Sprouts also nearby. The combination of new construction, four-bedroom layouts, and proximity to campus provides a clearly defined residential offering for the local student market.
Located at 807 W 7th Avenue in Stillwater, the community sits behind the tennis courts off Washington Street. Oklahoma State University is approximately a 9-minute walk away, with the Strip and Sprouts also nearby. The combination of new construction, four-bedroom layouts, and proximity to campus provides a clearly defined residential offering for the local student market.
Key Highlights
- 2026 multifamily townhome development with four‑bedroom, four‑bathroom residences
- Approximately a 9‑minute walk from Oklahoma State University
- Stainless steel appliances, marble countertops, and luxury vinyl plank flooring
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
$49,664
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
3.06%
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%
$993,280
$993.3K
Cap Rate 7%
$709,486
$709.5K
Cap Rate 9%
$551,822
$551.8K
Market Conditions
NOI Build-Up for 6,964 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
$101.1K $14.52/SF
− Vacancy
−$10.8K −$1.55/SF
EGI
$90.3K $12.97/SF
− OpEx
−$40.6K −$5.83/SF
NOI
$49.7K $7.13/SF
Area
Payne County, OK
Vacancy
10.70%
Lease Rate
$14.52 /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%
$993,280
Cap Rate 7%
$709,486
Cap Rate 9%
$551,822
Alternative Uses
Best Use
Apartment 5plus
$709.5K
$620.8K – $827.7K
NOI $49,664 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,877 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,168
Businesses Nearby
Explore this area
Business Placement
Demographics for 74074, OK
32,326
Population
14,328
Households
2.3
Avg Household Size
29
Median Age
51%
College-Educated
96%
High-School Grad
127.4 sq mi
ZIP Area
254
Density / Sq Mi
$50,245
Median Household Income
$26,971
Median Earnings
$965
Median Rent
$247,300
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 - New four-bedroom residences near Oklahoma State University offer modern finishes and a student-oriented location.
Where is this multifamily property located?
The property is located at 807 W 7th Avenue #See Unit Details Stillwater, OK.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: 2026 multifamily townhome development with four‑bedroom, four‑bathroom residences; Approximately a 9‑minute walk from Oklahoma State University; Stainless steel appliances, marble countertops, and luxury vinyl plank flooring
