Full Duplex Investment
For Sale
$221,500
Pending
1508 E Sheridan Street, Olathe, KS 66062
DUPLEX - Other - Olathe, KS
Property Size1,205 SF
Lot Size0.15 Acres
Days on Market105
Property Features for 1508 E Sheridan Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 3, Bedroom 2, Basement, Bathroom 1, Bedroom 1
Parking features
Open
Patio and Porch features
Patio
Fireplace
1
Basement
Concrete
Appliances
Refrigerator, Electric Range, Free-Standing Electric Oven
Subdivision
Havencroft
Elementary school
Havencroft
Middle school
Indian Trail
High school
Olathe North
Elementary school district
Olathe
Middle school district
Olathe
High school district
Olathe
Directions
From 135th St Head To S Mur-Len Road - turn South to E. Sheridan St(143rd St) - Head West to 1508 - property on the right.
Standard status
Pending
APN
046-089-31-0-30-10-019.01-0
Size
1,205 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
HAVENCROFT BG NLY CR OF SE 70'LT 5 SE 47.58' SW 146.71' CUR RT 42.79' TO WLY CUR OF SE 70'LT 5 NE 141.31' TO POB BLK 8 OLC
Tax Annual Amount
2453
Legal Description
HAVENCROFT BG NLY CR OF SE 70'LT 5 SE 47.58' SW 146.71' CUR RT 42.79' TO WLY CUR OF SE 70'LT 5 NE 141.31' TO POB BLK 8 OLC
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
1964
Flooring type
Wood, Carpet, Vinyl, Tile
Building materials
Board & Batten Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
Platinum Realty LLC
(888) 220-0988
Listed By:
Tim Poolman
(913) 433-8086
Added: Apr 18
Changed: Jul 28
Last Checked: Jul 31 at 12:06AM
MLS# 2615123
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 listing offers a full duplex residential income property with two units under one roof. The total property size is 1,205 square feet, situated on a 0.15-acre lot. Both units are currently rented, and access for showings requires 24 hours’ notice with the listing agent or their representative. Please do not disturb the tenants.
The property is located at 1508 E Sheridan Street in Olathe, Kansas (66062), in Johnson County. Public remarks note the home is within walking distance to an elementary school and MidAmerica Nazareen.
For investors or owner-occupants seeking a manageable two-unit structure, this duplex provides immediate rental status with both units leased at the time of sale. Sellers prefer to sell both units together. There is also mention of a possible 1031 exchange for qualified buyers. Unit details reference MLS# 2615137.
The property is located at 1508 E Sheridan Street in Olathe, Kansas (66062), in Johnson County. Public remarks note the home is within walking distance to an elementary school and MidAmerica Nazareen.
For investors or owner-occupants seeking a manageable two-unit structure, this duplex provides immediate rental status with both units leased at the time of sale. Sellers prefer to sell both units together. There is also mention of a possible 1031 exchange for qualified buyers. Unit details reference MLS# 2615137.
Key Highlights
- Full duplex investor opportunity with each unit currently rented (MLS #2615137 referenced for one unit)
- Sellers prefer to sell both units together; asking price noted as per side
- Year built 1964; board & batten siding with composition roof
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.5k | $16.20 |
| − Vacancy | −$1.2k | −$1.00 |
| EGI | $18.3k | $15.20 |
| − OpEx | −$5.5k | −$4.56 |
| NOI | $12.8k | $10.64 |
1,205 SF · lease $16.20/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$183.2K
$160.3K – $213.7K
NOI $12,822 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$159.3K
$139.4K – $185.9K
NOI $11,154 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$356.1K
$311.6K – $415.5K
NOI $24,929 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Explore this area
Business Placement
Demographics for 66062, KS
77,553
Population
29,350
Households
2.6
Avg Household Size
36
Median Age
53%
College-Educated
96%
High-School Grad
42.1 sq mi
ZIP Area
1,842
Density / Sq Mi
$116,248
Median Household Income
$55,718
Median Earnings
$1,349
Median Rent
$342,700
Median Home Value
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-unit full duplex with both units currently rented, offered for sale with a preference to sell together.
Where is this duplex located?
The property is located at 1508 E Sheridan Street Olathe, KS.
What is the asking price?
The asking price for this property is $221,500.
What are key features of this property?
This property features: Full duplex investor opportunity with each unit currently rented (MLS #2615137 referenced for one unit); Sellers prefer to sell both units together; asking price noted as per side; Year built 1964; board & batten siding with composition roof
