Updated Duplex with Private
New
For Sale
$397,000
8601 E 62nd Place, Tulsa, OK 74133
Two occupied units offer separate driveways, covered outdoor areas, and established rental income in the Union school area.
Property Size2,956 SF
Price / SF$134.30
Days on Market3
Property Features for 8601 E 62nd Place
General Information
Standard status
Active
Size
2,956 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
1981
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX & Associates
(918) 683-1221
Listed By:
Century 21 Wright Real Estate
(918) 456-5288
Source:
Century21wright
Added: Sep 6
Changed: Sep 7
Last Checked: Sep 7 at 7:03AM
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 RE/MAX & Associates
Investment Insights
Based on property information with market context.
This 1981 duplex contains two residential units totaling 2,956 SF, with approximately 1,478 SF per unit. Each side is configured as a 3/2/2 and includes a separate driveway, private fenced yard, covered front porch, and covered rear patio. Interior features include vaulted ceilings, a gas-start wood-burning fireplace, separate dining space, downstairs laundry, under-stair storage, and a Pullman-style bathroom serving the primary bedroom and living area.
The property occupies a corner lot with mature trees at 8601 E 62nd Place in Tulsa. It is near Union schools, shopping, dining, everyday amenities, and major highways. Improvements include a newer hot water tank, A/C system, appliances, flooring, and roof. The property is currently occupied and includes a second unit address of 6151 S 86th E Ave.
The property occupies a corner lot with mature trees at 8601 E 62nd Place in Tulsa. It is near Union schools, shopping, dining, everyday amenities, and major highways. Improvements include a newer hot water tank, A/C system, appliances, flooring, and roof. The property is currently occupied and includes a second unit address of 6151 S 86th E Ave.
Key Highlights
- 2,956 SF duplex with approximately 1,478 SF in each unit
- Both units are configured as 3/2/2
- Separate driveways and private fenced yards for each unit
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
$26,699
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
6.73%
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%
$533,980
$534.0K
Cap Rate 7%
$381,414
$381.4K
Cap Rate 9%
$296,656
$296.7K
Market Conditions
NOI Build-Up for 2,956 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
$40.8K $13.80/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$38.1K $12.90/SF
− OpEx
−$11.4K −$3.87/SF
NOI
$26.7K $9.03/SF
Area
ZIP 74133
Vacancy
6.50%
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%
$533,980
Cap Rate 7%
$381,414
Cap Rate 9%
$296,656
Alternative Uses
Best Use
Multifamily LT 5
$381.4K
$333.7K – $445.0K
NOI $26,699 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$356.7K
$312.1K – $416.1K
NOI $24,968 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$784.4K
$686.4K – $915.2K
NOI $54,911 @ 7.0% cap · market cap 13.83%
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
978
Businesses Nearby
Explore this area
Business Placement
Demographics for 74133, OK
48,331
Population
22,638
Households
2.1
Avg Household Size
38
Median Age
42%
College-Educated
95%
High-School Grad
13.7 sq mi
ZIP Area
3,528
Density / Sq Mi
$73,983
Median Household Income
$43,897
Median Earnings
$1,129
Median Rent
$254,700
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 occupied units offer separate driveways, covered outdoor areas, and established rental income in the Union school area.
Where is this duplex located?
The property is located at 8601 E 62nd Place Tulsa, OK.
What is the asking price?
The asking price for this property is $397,000.
What are key features of this property?
This property features: 2,956 SF duplex with approximately 1,478 SF in each unit; Both units are configured as 3/2/2; Separate driveways and private fenced yards for each unit
