Four-Bedroom Duplex with
For Sale
$350,000
2911 & 2913 Belle Haven Drive, Lawrence, KS 66046
Residential Income, Lawrence, KS
Property Size1,888 SF
Price / SF$185.38
Days on Market35
Property Features for 2911 & 2913 Belle Haven Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-3
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 7, Bedroom 6, Bedroom 8, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 5, Bathroom 1
Interior features
High Speed Internet
Basement
Finished, Partial, Crawl Space
Subdivision
Indian Hills
Elementary school
Cordley
Middle school
Billy Mills
High school
Lawrence
Standard status
Active
APN
U16612 & U16612A
Size
1,888 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Please see Offer Instructions
Legal Description
Please see Offer Instructions
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
fenced backyard
W/D hookups
Building Details
Year built
1967
Number of units
2
Building materials
Frame
Roof type
Composition
Listing Agency:
STEPHENS REAL ESTATE, INC
(785) 841-4500
Listed By:
ZACH DODSON · License #SP00236280
(785) 220-2237
Added: Aug 7
Changed: Sep 3
Last Checked: Sep 10 at 1:06AM
MLS# 166233
Copyright © 2026 Lawrence Board 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.
This 1,888-square-foot frame duplex was built in 1967 and contains two four-bedroom units. Each side has its own tax identification number, creating separate ownership records for the units. The property includes public water and public sewer, composition roofing, high-speed internet, washer and dryer hookups, and a fenced backyard.
The 2913 unit received recent improvements that include luxury vinyl plank flooring, interior paint, kitchen appliances, and bathroom updates. The property is located in Lawrence’s Indian Hills neighborhood with access to 31st Street, K-10 Highway, and the activity near South Iowa Street. Eight bedrooms provide flexible living or storage capacity across the duplex.
The 2913 unit received recent improvements that include luxury vinyl plank flooring, interior paint, kitchen appliances, and bathroom updates. The property is located in Lawrence’s Indian Hills neighborhood with access to 31st Street, K-10 Highway, and the activity near South Iowa Street. Eight bedrooms provide flexible living or storage capacity across the duplex.
Key Highlights
- 1,888‑square‑foot duplex with two four‑bedroom units
- Separate tax identification number for each unit
- 2913 unit updated with LVP flooring, paint, appliances, and refreshed bathrooms
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
$18,734
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
5.35%
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%
$374,680
$374.7K
Cap Rate 7%
$267,629
$267.6K
Cap Rate 9%
$208,156
$208.2K
Market Conditions
NOI Build-Up for 1,888 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
$28.3K $15.00/SF
− Vacancy
−$1.6K −$0.83/SF
EGI
$26.8K $14.17/SF
− OpEx
−$8.0K −$4.25/SF
NOI
$18.7K $9.92/SF
Area
Douglas County, KS
Vacancy
5.50%
Lease Rate
$15.00 /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%
$374,680
Cap Rate 7%
$267,629
Cap Rate 9%
$208,156
Alternative Uses
Best Use
Multifamily LT 5
$267.6K
$234.2K – $312.2K
NOI $18,734 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$251.2K
$219.8K – $293.1K
NOI $17,585 @ 7.0% cap · market cap 5.02%
Theoretical Best
Retail
$555.6K
$486.1K – $648.2K
NOI $38,891 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Explore this area
Business Placement
Demographics for 66046, KS
19,903
Population
9,452
Households
2.1
Avg Household Size
31
Median Age
46%
College-Educated
96%
High-School Grad
40.8 sq mi
ZIP Area
488
Density / Sq Mi
$58,798
Median Household Income
$31,546
Median Earnings
$937
Median Rent
$217,100
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 - Income-producing duplex with separate tax IDs, public utilities, fenced outdoor space, and commuter access via K-10 Highway.
Where is this duplex located?
The property is located at 2911 & 2913 Belle Haven Drive Lawrence, KS.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,888‑square‑foot duplex with two four‑bedroom units; Separate tax identification number for each unit; 2913 unit updated with LVP flooring, paint, appliances, and refreshed bathrooms
