Updated Two-Unit
For Sale
$350,000
808 NW 45th Street Oklahoma, Oklahoma City, OK 73118
Two-level duplex with renovated kitchens, refreshed bathrooms, hardwood floors, and separate rear access for each residence.
Property Size1,850 SF
Days on Market66
Property Features for 808 NW 45th Street Oklahoma
General Information
Standard status
Active
Size
1,850 SF
Total Parking Spaces
4
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
stackable washer and dryer
Dishwasher
Disposal
Microwave
Refrigerator
Washer/Dryer
Composition
Building Details
Building Size
1,850 SF
Year Built
1948
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Chinowth & Cohen
(405) 843-8188
Listed By:
Chris George
Source:
Kw
Added: Jun 27
Changed: Aug 29
Last Checked: Aug 31 at 12:28AM
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 Chinowth & Cohen
Investment Insights
Based on property information with market context.
Built in 1948, this duplex contains matching upper- and lower-level residences with two bedrooms and two full bathrooms per unit. Each floor plan centers on an open living and kitchen area, with hardwood flooring throughout the living spaces and bedrooms. The kitchens feature updated cabinetry, countertops, stainless steel appliances, and newer tile flooring, while the bathrooms include modern vanities, tile floors, and refreshed shower and tub surrounds. Each unit also has a stackable washer and dryer positioned near the kitchen.
Access is provided through a shared front entry with an enclosed stairwell serving the upper residence, along with separate rear entrances for both units. The backyard includes a two-car garage and two additional parking spaces. The first-floor unit is leased, and the upstairs unit is operated as an Airbnb, providing multiple occupancy arrangements. The property is located near restaurants, entertainment, shopping, and highway access at 808 NW 45th Street in Oklahoma City.
Access is provided through a shared front entry with an enclosed stairwell serving the upper residence, along with separate rear entrances for both units. The backyard includes a two-car garage and two additional parking spaces. The first-floor unit is leased, and the upstairs unit is operated as an Airbnb, providing multiple occupancy arrangements. The property is located near restaurants, entertainment, shopping, and highway access at 808 NW 45th Street in Oklahoma City.
Key Highlights
- Two residences, each with 2 bedrooms and 2 full bathrooms
- Renovated kitchens with updated cabinetry, countertops, stainless steel appliances, and newer tile flooring
- Hardwood floors extend through both living areas and bedrooms
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
$16,888
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
4.83%
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%
$337,760
$337.8K
Cap Rate 7%
$241,257
$241.3K
Cap Rate 9%
$187,644
$187.6K
Market Conditions
NOI Build-Up for 1,850 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
$25.5K $13.80/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$24.1K $13.04/SF
− OpEx
−$7.2K −$3.91/SF
NOI
$16.9K $9.13/SF
Area
Oklahoma City, OK
Vacancy
5.50%
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%
$337,760
Cap Rate 7%
$241,257
Cap Rate 9%
$187,644
Alternative Uses
Best Use
Multifamily LT 5
$241.3K
$211.1K – $281.5K
NOI $16,888 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$223.2K
$195.3K – $260.4K
NOI $15,626 @ 7.0% cap · market cap 4.46%
Theoretical Best
Specialty Retail
$632.7K
$553.6K – $738.2K
NOI $44,289 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,019
Businesses Nearby
Explore this area
Business Placement
Demographics for 73118, OK
13,521
Population
7,856
Households
1.7
Avg Household Size
37
Median Age
49%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
2,817
Density / Sq Mi
$69,321
Median Household Income
$45,494
Median Earnings
$1,064
Median Rent
$252,500
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 - Two-level duplex with renovated kitchens, refreshed bathrooms, hardwood floors, and separate rear access for each residence.
Where is this duplex located?
The property is located at 808 NW 45th Street Oklahoma Oklahoma City, OK.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 2 full bathrooms; Renovated kitchens with updated cabinetry, countertops, stainless steel appliances, and newer tile flooring; Hardwood floors extend through both living areas and bedrooms
