Duplex with Private
New
For Sale
$397,000
8601 E 62nd Place, Tulsa, OK 74133
Residential, Contemporary, Tulsa, OK
Property Size2,956 SF
Lot Size0.27 Acres
Price / SF$134.30
Days on Market2
Property Features for 8601 E 62nd Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1
Window features
Aluminum Frames
Patio and Porch features
Patio, Porch
Interior features
Cable TV Wired, High Speed Internet, Internet Wired, Satellite Dish Wired
Exterior features
Gutters, Sidewalk
Fencing
Privacy
Fireplace
1
Appliances
Dishwasher, Disposal, Range/Oven
Subdivision
Burning Tree East
Lot features
Corner Lot, Mature Trees
Elementary school
Grove
High school
Union
Elementary school district
Union - Sch Dist (9)
Middle school district
Union - Sch Dist (9)
High school district
Union - Sch Dist (9)
Directions
POB: Memorial & 61st - Go West on 61st for .2 miles to S 86th E Ave. Turn South the duplex will be on the East side of Rd.
Standard status
Active
APN
75085-83-01-34840
Size
2,956 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LT 1 BLK 1 Burning Tree East
Tax Annual Amount
2279
Legal Description
LT 1 BLK 1 Burning Tree East
Utilities
Utilities
Cable Available
Heating system
Central
Cooling system
Central Air
Amenities
fireplace
covered front porch
covered back patio
laundry
Building Details
Year built
1981
Floors in Building
2
Flooring type
Carpet, Tile, Vinyl
Building materials
Wood Frame
Roof type
Fiberglass
Architectural style
Contemporary
Listing Agency:
Chinowth & Cohen
(918) 392-0900
Listed By:
Keli Smith · License #182654
(918) 706-3593
Added: Sep 4
Last Checked: Sep 5 at 12:06AM
MLS# 2632903
Copyright © 2026 MLS Technology, 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.
This contemporary duplex contains 2,956 square feet across two residential units, with each unit measuring approximately 1,478 square feet. Both units offer three bedrooms, two bathrooms, a one-and-a-half-story layout, vaulted ceilings, a gas-start wood-burning fireplace, separate dining areas, downstairs laundry, and Pullman-style bathroom access. Each side also has its own garage, driveway, covered front porch, covered back patio, and privacy-fenced yard.
The property occupies a 0.27-acre corner lot in Tulsa and is currently occupied. Improvements include a newer roof, A/C system, water tank, appliances, and flooring. Additional features include central heating and cooling, fiberglass roofing, wood-frame construction, gutters, sidewalks, cable availability, and kitchen appliances including a dishwasher, disposal, and range/oven. The property is associated with Union Schools and is near shopping, dining, everyday amenities, and major highways.
The property occupies a 0.27-acre corner lot in Tulsa and is currently occupied. Improvements include a newer roof, A/C system, water tank, appliances, and flooring. Additional features include central heating and cooling, fiberglass roofing, wood-frame construction, gutters, sidewalks, cable availability, and kitchen appliances including a dishwasher, disposal, and range/oven. The property is associated with Union Schools and is near shopping, dining, everyday amenities, and major highways.
Key Highlights
- Two‑unit duplex totaling 2,956 SF; each unit is approximately 1,478 SF
- Both units are configured with 3 bedrooms, 2 bathrooms, and 2‑car garages
- Each unit has a separate driveway, covered patio, covered porch, and privacy‑fenced yard
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
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 - Currently occupied two-unit property with separate driveways, covered outdoor areas, and updated major systems.
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: Two‑unit duplex totaling 2,956 SF; each unit is approximately 1,478 SF; Both units are configured with 3 bedrooms, 2 bathrooms, and 2‑car garages; Each unit has a separate driveway, covered patio, covered porch, and privacy‑fenced yard
