Thinking about buying a duplex in Oklahoma?
Smart move. Duplexes are one of the most accessible ways to jump into real estate investing — especially if you’re looking to “house hack” (live in one unit, rent the other) or build long-term rental income with less risk than a fourplex or apartment building.
But not all duplexes are created equal. Before you sign anything, make sure you’re digging into the right numbers and factors. Here’s a simple guide to help you analyze your next deal like a pro:
1. Rental Income vs. Mortgage Payment
Start here. What’s the expected rent for both units — and how does that compare to your monthly mortgage (including taxes and insurance)?
If you’re house hacking, can one side cover most (or all) of your mortgage?
If you’re renting out both, what’s your monthly cash flow after all expenses?
Pro tip: Use conservative rent estimates based on nearby comps, not what the seller says.
Don’t forget to include maintenance, management, and insurance in your monthly numbers.
2. Current and Future Vacancy Rates
Oklahoma generally has solid rental demand, but each city — and even each neighborhood — is different.
- Is the property in a high-turnover college area or a family-focused suburb?
- Is there a history of frequent vacancies?
- Are there lots of other rentals nearby that could compete with yours?
Low vacancy = consistent income and fewer tenant headaches.
Check sites like Rentometer, Zillow, or even local Facebook housing groups to see how quickly rentals move in that area.
3. Repairs, Capital Reserves & Property Taxes
A duplex can be a goldmine… or a money pit.
- Roof, HVAC, foundation, plumbing — are any of these nearing end-of-life?
- Are both units separately metered (ideal), or will you be footing the utility bill?
- What’s the current property tax bill, and could it go up after purchase?
Always budget for surprise costs, and plan to set aside capital reserves.
Rule of thumb: Estimate 5–10% of monthly rent toward maintenance.
Get a full inspection before making your final offer.
4. Zoning, City Codes & Landlord Licensing Rules
Depending on the city, you may need:
- A rental license
- Specific zoning approval for short-term or multi-unit use
- To meet local inspection or code requirements before you can legally rent
Norman, Tulsa, and OKC all have slightly different rules — don’t assume they’re the same.
Always call the local city office or check their website before you buy.
If you’re considering short-term rental (Airbnb), ask about STR permits and limits.
5. Long-Term Rent Growth in the Area
Buying a duplex isn’t just about today’s numbers — it’s about future potential.
- Is the neighborhood appreciating or declining?
- Are new employers or developments coming to the area?
- Has rent been increasing steadily year over year?
Places like Edmond, South OKC, and parts of Tulsa have seen steady growth, while other areas may be flat or highly cyclical.
Bonus tip: Look at school ratings, crime trends, and walkability scores — they affect both rent prices and tenant quality.
Want Help Running the Numbers?
You don’t have to guess. Whether you’re looking at your first duplex or adding another to the portfolio, I can help you:
Break down the real numbers
Explore house hacking or investment loan options
Find financing that fits your strategy
Just reach out — I’m here to help.
