Half-Duplex with Private
For Sale
Under Contract
$275,000
11114 W 113th Terrace, Overland Park, KS 66210
Residential, Traditional, Overland Park, KS
Property Size1,184 SF
Lot Size0.13 Acres
Price / SF$232.26
Days on Market16
Property Features for 11114 W 113th Terrace
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Dining Room, Bedroom 1, Bathroom 1, Bedroom 2, Basement, Bathroom 2
Parking features
Garage, Open
Security features
Security System
Patio and Porch features
Deck, Porch
Fireplace
1
Basement
Unfinished
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Electric Range, Stainless Steel Appliance(s)
Subdivision
College Meadows
Lot features
City Lot, Cul-De-Sac
Elementary school
Pleasant Ridge
Middle school
California Trail
High school
Olathe East
Elementary school district
Olathe
Middle school district
Olathe
High school district
Olathe
Directions
Nieman Road to 113th Terrace, west to home.
Standard status
Active Under Contract
APN
NP10500002-0006
Size
1,184 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
COLLEGE MEADOWS ADDITION PT LT6 LYING E OF LINE BG 16.36' E SW CR NWLY TO PT N/L 85.76' E NW CR BLK 2 OPC 54 3 2 6
Tax Annual Amount
3088
HOA Fee
$80 Monthly
Legal Description
COLLEGE MEADOWS ADDITION PT LT6 LYING E OF LINE BG 16.36' E SW CR NWLY TO PT N/L 85.76' E NW CR BLK 2 OPC 54 3 2 6
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Electric
Water source
Public
Amenities
deck
Building Details
Year built
1983
Building materials
Stucco
Roof type
Composition
Architectural style
Other
Listing Agency:
Compass Realty Group
(816) 280-2773
Listed By:
Brooke Graessle
(803) 394-1515
Added: Sep 2
Changed: Sep 17
Last Checked: Sep 17 at 5:06PM
MLS# 2639979
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 1,184-square-foot half duplex was built in 1983 and offers two bedrooms, two bathrooms, a dining room, and basement space. Interior features include a fireplace, forced-air heating, electric cooling, and a kitchen equipped with a dishwasher, disposal, microwave, refrigerator, electric range, and stainless steel appliances. Recent updates include newer HVAC equipment, a newer hot water heater, and new appliances.
The property sits on a 0.1275-acre cul-de-sac lot along a quiet dead-end street in Overland Park. Outdoor features include a private backyard deck and porch, while parking includes a garage and open spaces. Public water and public sewer serve the property. HOA services cover trash, recycling, lawn mowing, and snow removal.
The property sits on a 0.1275-acre cul-de-sac lot along a quiet dead-end street in Overland Park. Outdoor features include a private backyard deck and porch, while parking includes a garage and open spaces. Public water and public sewer serve the property. HOA services cover trash, recycling, lawn mowing, and snow removal.
Key Highlights
- 1,184 square feet with two bedrooms and two bathrooms
- 0.1275‑acre cul‑de‑sac lot on a quiet dead‑end street
- Private backyard deck plus porch
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
$13,531
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
4.92%
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%
$270,620
$270.6K
Cap Rate 7%
$193,300
$193.3K
Cap Rate 9%
$150,344
$150.3K
Market Conditions
NOI Build-Up for 1,184 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
$20.6K $17.40/SF
− Vacancy
−$1.3K −$1.07/SF
EGI
$19.3K $16.33/SF
− OpEx
−$5.8K −$4.90/SF
NOI
$13.5K $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%
$270,620
Cap Rate 7%
$193,300
Cap Rate 9%
$150,344
Alternative Uses
Best Use
Multifamily LT 5
$193.3K
$169.1K – $225.5K
NOI $13,531 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$177.4K
$155.3K – $207.0K
NOI $12,421 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$305.1K
$266.9K – $355.9K
NOI $21,355 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
727
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom residence with newer HVAC, a hot water heater, and stainless steel appliances.
Where is this duplex located?
The property is located at 11114 W 113th Terrace Overland Park, KS.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,184 square feet with two bedrooms and two bathrooms; 0.1275‑acre cul‑de‑sac lot on a quiet dead‑end street; Private backyard deck plus porch
