Duplex with Finished
New
For Sale
$310,000
10639 W 115th Street, Overland Park, KS 66210
Residential, Traditional, Overland Park, KS
Property Size1,795 SF
Lot Size0.12 Acres
Price / SF$172.70
Days on Market5
Property Features for 10639 W 115th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 4, Bedroom 1, Bedroom 3, Basement, Laundry Room, Bedroom 2, Bathroom 2, Bathroom 3, Bathroom 1
Parking features
Open
Patio and Porch features
Deck
Interior features
Ceiling Fan(s), Kitchen Island, Pantry, Vaulted Ceiling(s), Walk-In Closet(s)
Fireplace
1
Basement
Sump Pump, Finished, Full
Appliances
Dishwasher, Disposal, Exhaust Fan, Electric Range
Subdivision
College Park Estates
Lot features
City Lot, Many Trees
Elementary school
Indian Valley
Middle school
Oxford
High school
Blue Valley NW
Elementary school district
Blue Valley
Middle school district
Blue Valley
High school district
Blue Valley
Directions
From north or south on Nieman Rd - turn east on W115th Ter, turn left ( north) to the 4th building on the left side of the road. Duplex is on the right. From Indian Creek Pkwy - turn north on W115th St. The duplex is the 4th building on the left side of the road. Unit is on the right.
Standard status
Active
APN
NP10300003 0012A
Size
1,795 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
COLLEGE PARK ESTATES PT LT 12 BLK 3 LYING NW OF A LINE 16.50' SE MOST WLY CR & 65.6' SE N CR OPC 44 2 3 12A
Tax Annual Amount
3130
Legal Description
COLLEGE PARK ESTATES PT LT 12 BLK 3 LYING NW OF A LINE 16.50' SE MOST WLY CR & 65.6' SE N CR OPC 44 2 3 12A
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
1983
Flooring type
Vinyl, Wood, Tile
Building materials
Wood Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
Platinum Realty LLC
(888) 220-0988
Listed By:
Christine Hong
(913) 486-3679
Added: Oct 1
Changed: Oct 5
Last Checked: Oct 5 at 7:06AM
MLS# 2645383
Copyright © 2026 Heartland Multiple Listing Service. 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 1,795-square-foot duplex, built in 1983, has three bedrooms arranged on the upper floor and a finished basement with added living area. The main level includes a living room with a vaulted ceiling and fireplace, plus a kitchen with granite counters, a peninsula, and stainless steel appliances adjoining the dining area. A deck and fenced backyard extend the living space outdoors. The parcel measures 0.124 acres.
Cross Creek Park, its playground and picnic table, and the Indian Creek Bike and Hike Trail are within walking distance. Highway 69, grocery stores, restaurants, and shopping are nearby. The property is in the Blue Valley School District and has no HOA fees.
Cross Creek Park, its playground and picnic table, and the Indian Creek Bike and Hike Trail are within walking distance. Highway 69, grocery stores, restaurants, and shopping are nearby. The property is in the Blue Valley School District and has no HOA fees.
Key Highlights
- Duplex with 1,795 square feet on a 0.124‑acre lot
- Three bedrooms on the second floor; finished basement adds living space
- Kitchen with granite countertops, peninsula, and stainless steel appliances
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
$20,514
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
6.62%
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%
$410,280
$410.3K
Cap Rate 7%
$293,057
$293.1K
Cap Rate 9%
$227,933
$227.9K
Market Conditions
NOI Build-Up for 1,795 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
$31.2K $17.40/SF
− Vacancy
−$1.9K −$1.07/SF
EGI
$29.3K $16.33/SF
− OpEx
−$8.8K −$4.90/SF
NOI
$20.5K $11.43/SF
Area
Overland Park, KS
Vacancy
6.17%
Lease Rate
$17.40 /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%
$410,280
Cap Rate 7%
$293,057
Cap Rate 9%
$227,933
Alternative Uses
Best Use
Multifamily LT 5
$293.1K
$256.4K – $341.9K
NOI $20,514 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$269.0K
$235.4K – $313.9K
NOI $18,831 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$462.5K
$404.7K – $539.6K
NOI $32,375 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 66210, KS
19,057
Population
9,700
Households
2
Avg Household Size
39
Median Age
62%
College-Educated
98%
High-School Grad
6.1 sq mi
ZIP Area
3,124
Density / Sq Mi
$93,368
Median Household Income
$54,948
Median Earnings
$1,407
Median Rent
$345,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Three upstairs bedrooms, a fenced yard, and a finished lower level provide a flexible residential layout.
Where is this duplex located?
The property is located at 10639 W 115th Street Overland Park, KS.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Duplex with 1,795 square feet on a 0.124‑acre lot; Three bedrooms on the second floor; finished basement adds living space; Kitchen with granite countertops, peninsula, and stainless steel appliances
