Leased Residential Income
New
For Sale
$995,000
908 E 12th Avenue, Stillwater, OK 74074
Residential Income, Stillwater, OK
Property Size6,449 SF
Lot Size2.00 Acres
Price / SF$154.29
Days on Market6
Property Features for 908 E 12th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
20
Bathrooms
10
Full bathrooms
10
Rooms
Bedroom 7, Bathroom 2, Bathroom 8, Bathroom 9, Bedroom 16, Bathroom 7, Bathroom 1, Bedroom 6, Bedroom 4, Bedroom 20, Bedroom 3, Bedroom 14, Bedroom 17, Bedroom 9, Bedroom 5, Bedroom 8, Bedroom 1, Bedroom 12, Bedroom 15, Bedroom 10, Bathroom 4, Bathroom 6, Bedroom 11, Bathroom 5, Bedroom 13, Bedroom 18, Bedroom 19, Bathroom 3, Bathroom 10, Bedroom 2
Lot features
Campus Area
Elementary school
Highland Park ES
Middle school
Stillwater JHS
High school
Stillwater HS
Elementary school district
Stillwater
Middle school district
Stillwater
High school district
Stillwater
Standard status
Active
APN
908E12th74074
Size
6,449 SF
Lot size
2.00 Acres
Building Details
Year built
1987
Building materials
Stone, Brick Veneer
Roof type
Composition
Architectural style
Other
Listing Agency:
Sage Sotheby's Realty
(405) 748-0405
Listed By:
Sierra Snowden
(405) 570-6340
Added: Aug 16
Changed: Aug 21
Last Checked: Aug 21 at 6:06PM
MLS# 1244906
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.
This 6,449-square-foot residential income property was constructed in 1987 on approximately 2 acres. Originally designed for group housing, the building contains 20 bedrooms and 10 bathrooms, along with expansive common areas, multiple offices, gathering spaces, and a commercial-style kitchen area. Exterior features include extensive parking, a patio, garden areas, mature trees, flower beds, and open green space. Recent work includes installation of a new suppression system and additional improvements addressing current code requirements.
The property is occupied under a triple-net lease with approximately 3 years remaining and a 7.25% cap rate. The lease provides a 3% annual rent escalator, and the property has a 12+ month history of consistent rent payments. Located in Stillwater near major employment and education, the building’s existing configuration and outdoor areas support its current group-housing use, while any future use remains subject to verification of zoning, licensing, occupancy requirements, and intended use.
The property is occupied under a triple-net lease with approximately 3 years remaining and a 7.25% cap rate. The lease provides a 3% annual rent escalator, and the property has a 12+ month history of consistent rent payments. Located in Stillwater near major employment and education, the building’s existing configuration and outdoor areas support its current group-housing use, while any future use remains subject to verification of zoning, licensing, occupancy requirements, and intended use.
Key Highlights
- 6,449 SF building on approximately 2 acres
- 20 bedrooms and 10 bathrooms with extensive common areas
- Triple‑net lease with approximately 3 years remaining
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
$45,991
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
4.62%
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%
$919,820
$919.8K
Cap Rate 7%
$657,014
$657.0K
Cap Rate 9%
$511,011
$511.0K
Market Conditions
NOI Build-Up for 6,449 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
$93.6K $14.52/SF
− Vacancy
−$10.0K −$1.55/SF
EGI
$83.6K $12.97/SF
− OpEx
−$37.6K −$5.83/SF
NOI
$46.0K $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%
$919,820
Cap Rate 7%
$657,014
Cap Rate 9%
$511,011
Alternative Uses
Best Use
Apartment 5plus
$657.0K
$574.9K – $766.5K
NOI $45,991 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,012 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,032
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Two-acre setting with flexible group-housing layout, common areas, offices, and outdoor space.
Where is this residential income property located?
The property is located at 908 E 12th Avenue Stillwater, OK.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 6,449 SF building on approximately 2 acres; 20 bedrooms and 10 bathrooms with extensive common areas; Triple‑net lease with approximately 3 years remaining
