Ranch Half-Duplex
For Sale
$210,000
2231 SW Westport PL, Topeka, KS 66614
Residential, Topeka, KS
Property Size1,537 SF
Lot Size0.04 Acres
Price / SF$136.63
Days on Market177
Property Features for 2231 SW Westport PL
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Basement, Laundry Room, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2
Interior features
Carpet
Exterior features
Storm Door(s), Enclosed, Fenced, Privacy
Fencing
Privacy, Fenced
Fireplace
1
Basement
Partially Finished, Concrete
Appliances
Electric Range, Microwave, Dishwasher, Refrigerator
Subdivision
Westport
Elementary school
Wanamaker Elementary School/USD 437
Middle school
Washburn Rural Middle School/USD 437
High school
Washburn Rural High School/USD 437
Directions
From SW Wanamaker Rd, East on 22nd PK to Westport Pl, S to home
Standard status
Active
APN
R51091
Size
1,537 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
3447
HOA Fee
$110 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Flooring type
Tile - Ceramic
Building materials
Frame
Roof type
Composition
Architectural style
Ranch
Listing Agency:
KW One Legacy Partners, LLC · Keller Williams Realty
(785) 246-8075
Listed By:
Chen Liang
(785) 438-7874
Added: Feb 27
Changed: Aug 19
Last Checked: Aug 23 at 5:06AM
MLS# 243211
Copyright © 2026 Sunflower Association of REALTORS. 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.
Ranch-style half-duplex built in 1984 offering 3 bedrooms and 2 full bathrooms. The home includes an enclosed porch for additional indoor living space, as well as extra living space in the basement with ample storage. Interior finishes include carpet and tile-ceramic flooring. Heating is natural gas with central air cooling, and the home features a fireplace. Appliances included are an electric range, microwave, dishwasher, and refrigerator.
Outdoor features include storm door(s), enclosed porch, and fencing for added privacy, including privacy fencing and a fence. Services include public water and public sewer, with a composition roof and frame construction.
Set on a 0.04-acre lot, the property provides a compact residential footprint with a finished, functional layout supported by enclosed outdoor space and practical storage throughout.
Outdoor features include storm door(s), enclosed porch, and fencing for added privacy, including privacy fencing and a fence. Services include public water and public sewer, with a composition roof and frame construction.
Set on a 0.04-acre lot, the property provides a compact residential footprint with a finished, functional layout supported by enclosed outdoor space and practical storage throughout.
Key Highlights
- 3 bedrooms and 2 full bathrooms in a half‑duplex ranch
- Enclosed porch adds extra living space
- Basement offers additional living space plus ample storage
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
$10,793
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
5.14%
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%
$215,860
$215.9K
Cap Rate 7%
$154,186
$154.2K
Cap Rate 9%
$119,922
$119.9K
Market Conditions
NOI Build-Up for 1,537 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
$20.7K $13.44/SF
− Vacancy
−$1.0K −$0.67/SF
EGI
$19.6K $12.77/SF
− OpEx
−$8.8K −$5.75/SF
NOI
$10.8K $7.02/SF
Area
Topeka, KS
Vacancy
5.00%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
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%
$215,860
Cap Rate 7%
$154,186
Cap Rate 9%
$119,922
Alternative Uses
Best Use
Apartment 5plus
$154.2K
$134.9K – $179.9K
NOI $10,793 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$173.4K
$151.7K – $202.3K
NOI $12,136 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
699
Businesses Nearby
Explore this area
Business Placement
Demographics for 66614, KS
31,332
Population
15,273
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
97%
High-School Grad
24.1 sq mi
ZIP Area
1,300
Density / Sq Mi
$70,419
Median Household Income
$47,871
Median Earnings
$995
Median Rent
$181,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Ranch half-duplex with enclosed porch, fenced privacy yard, central air, and public water and sewer.
Where is this single family property located?
The property is located at 2231 SW Westport PL Topeka, KS.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: 3 bedrooms and 2 full bathrooms in a half‑duplex ranch; Enclosed porch adds extra living space; Basement offers additional living space plus ample storage
