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sales rep | Brivity IDX

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1010 Lovers Ln , Perkins, OK 74059
$5,250,000
Est. Payment: $27,942.70/mo
23300 Sqft
3 Acres
Status: active | Days on site: 120
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3445 - 177239
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House Description

Companion Park is a newly constructed 17-unit build-to-rent multifamily community located minutes from Stillwater and Oklahoma State University. Completed in phases with the final duplexes delivered in August and September 2025, the community consists of 16 modern duplexes and one detached single-family home, offering a premium rental product in a supply-constrained market with strong workforce housing demand. The property is 100% occupied with lease expirations staggered through 2026 and 2027, demonstrating strong tenant retention and durable cash flow. Tenant turnover has averaged approximately 15 days, reflecting consistent demand in the Perkins-Stillwater corridor. Current in-place rents generate approximately $316,200 in annual gross rental income. Four duplexes already lease for $1,600/month, while the remaining twelve lease for $1,500/month, creating embedded rent growth as leases renew. The detached single-family home currently leases for $1,950/month and is scheduled to increase to $2,000/month this fall. Operating expenses remain exceptionally low due to the property's new construction, tenant-paid utilities, and minimal maintenance requirements. The property operates with an expense ratio of approximately 15%, producing an estimated NOI of $268,544 and an owner-operator cap rate of approximately 5.12% at the current asking price. Utilities are already stubbed in the center of the community, with plans completed for future expansion, providing additional value-add potential. Recent capital improvements include perimeter privacy fencing, with decorative stone entry monuments and ranch-style frontage fencing planned to further enhance curb appeal.

Highlights

Listed by AJ Lang , (918) 313-0795 Canopy Realty Inc , (918) 313-0795. Northeast Oklahoma MLS

Property Type

Multi-Family

Lot/Acreage
3

Year Built

2025

County

Payne

School District

Perkins-Tryon - Sch Dist (P4)

Listing ID

2608123

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Interior Features

Air Cond:Central Air
Fireplaces:
Floor:Carpet,Vinyl
Other:
  • ▪ Additional:Attic, High Speed Internet, Ceiling Fan(s)
Water:Public

Exterior Features

Zoning:Urban RES
Roof:Other
Others:
  • ▪ Additional:Sprinkler/Irrigation, Landscaping
Sewer:Public Sewer
Principal Interest
$27,943
Taxes
$1,661

Home Price

$5,250,000

Loan Details

30 yrs
7%

Down Payment

20%
$1,050,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$27,942.70

Principal

Taxes

Principal Taxes HOA Total
Monthly $27,942.70 $1,661.33 $0.00 $29,604.04
Yearly $335,312.46 $19,936.00 $0.00 $355,248.46
Total $10,059,373.73 $598,080.00 $0.00 $10,657,453.73
Lender profile image
Chico Gordy
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Market insight data is pulled from the same city as the listing being viewed (Perkins, OK).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by the Northeast Oklahoma MLS, and is deemed reliable but not guarenteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-11-12T17:46:01.000Z

© 2026 Northeast Oklahoma MLS