Craftsman Duplex with Furnished
For Sale
$437,900
812 NW 21st Street, Oklahoma City, OK 73106
Residential Income, Oklahoma City, OK
Property Size2,348 SF
Lot Size0.12 Acres
Price / SF$186.50
Days on Market24
Property Features for 812 NW 21st Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 5, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Parking
3
Fireplace
1
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Water Heater
Lot features
Interior Lot
Elementary school
Dove Science Academy ES,Wilson ES
Middle school
Classen MS Of Advanced Studies,Dove Science Acade
High school
Classen HS Of Advanced Studies,Douglass HS,Dove S
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
From NW 21st & Shartel, turn West on NW 21st. Property is on the S side of the street. Alley access for back parking is just S of NW 21st.
Standard status
Active
APN
812NW21st73106
Size
2,348 SF
Lot size
0.12 Acres
Utilities
Heating system
Natural Gas
Cooling system
Electric
Amenities
front porch
backyard
storage shed
Building Details
Year built
1910
Floors in Building
2
Building materials
Frame
Roof type
Composition
Architectural style
Craftsman
Listing Agency:
Metro Brokers of Oklahoma
(405) 330-1859
Listed By:
Kathleen Forrest
(405) 476-9600
Added: Aug 13
Changed: Sep 3
Last Checked: Sep 5 at 7:06PM
MLS# 1244207
Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1910, this 2,348-square-foot Craftsman duplex at 812 NW 21st Street includes a two-bedroom, one-bath lower residence and a three-bedroom, one-bath upper residence. The lower unit has been repainted and includes a living room, dining area, updated cabinetry, granite countertops, stainless steel appliances, a storage room, and a claw-foot tub. The upper unit offers hardwood floors, a renovated kitchen, black appliances, and furnishings that may remain. Both units include refrigerators, while the lower residence also has a washer and dryer.
The 0.1189-acre property is in Oklahoma City's Mesta Park / University Addition area. Alley access leads to rear parking, including a three-car pad. The fenced backyard also contains a storage shed, and the front porch provides additional outdoor space. The upper unit is furnished and currently occupied by month-to-month guests; the lower unit is vacant and has previously accommodated long-term tenants. The property supports both long-term and short-term rental use as described in the listing.
The 0.1189-acre property is in Oklahoma City's Mesta Park / University Addition area. Alley access leads to rear parking, including a three-car pad. The fenced backyard also contains a storage shed, and the front porch provides additional outdoor space. The upper unit is furnished and currently occupied by month-to-month guests; the lower unit is vacant and has previously accommodated long-term tenants. The property supports both long-term and short-term rental use as described in the listing.
Key Highlights
- 2,348‑square‑foot duplex with 2‑bedroom and 3‑bedroom units, each with 1 bathroom
- 0.1189‑acre lot in Oklahoma City's Mesta Park / University Addition area
- 1910 Craftsman construction with retained historic details, including a claw‑foot tub
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
$21,434
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
4.89%
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%
$428,680
$428.7K
Cap Rate 7%
$306,200
$306.2K
Cap Rate 9%
$238,156
$238.2K
Market Conditions
NOI Build-Up for 2,348 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
$32.4K $13.80/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$30.6K $13.04/SF
− OpEx
−$9.2K −$3.91/SF
NOI
$21.4K $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%
$428,680
Cap Rate 7%
$306,200
Cap Rate 9%
$238,156
Alternative Uses
Best Use
Multifamily LT 5
$306.2K
$267.9K – $357.2K
NOI $21,434 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$283.3K
$247.9K – $330.6K
NOI $19,833 @ 7.0% cap · market cap 4.53%
Theoretical Best
Specialty Retail
$803.0K
$702.6K – $936.9K
NOI $56,211 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,276
Businesses Nearby
Explore this area
Business Placement
Demographics for 73106, OK
12,956
Population
6,069
Households
2.1
Avg Household Size
32
Median Age
40%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
4,319
Density / Sq Mi
$51,934
Median Household Income
$32,145
Median Earnings
$1,050
Median Rent
$262,500
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-unit Craftsman property with updated kitchens, private outdoor space, and alley-accessed parking in Oklahoma City.
Where is this duplex located?
The property is located at 812 NW 21st Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $437,900.
What are key features of this property?
This property features: 2,348‑square‑foot duplex with 2‑bedroom and 3‑bedroom units, each with 1 bathroom; 0.1189‑acre lot in Oklahoma City's Mesta Park / University Addition area; 1910 Craftsman construction with retained historic details, including a claw‑foot tub
