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    407 W Main St Toronto, KS 66777

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    Claim this Listing
    Pending
    $210,000

    MULTI_FAMILY - Other - Toronto, KS

    Property size:
    5,261 SF
    Lot size:
    0.57 Acres
    Added:
    Nov 18, 2025
    Days on Market:
    159
    Last Refresh:
    Apr 26 at 2:06 am

    Property Features for 407 W Main St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking
    10
    Parking features
    Off Street
    Appliances
    Range, Refrigerator
    Standard status
    Pending
    APN
    10416-11103005005000
    Size
    5,261 SF
    Lot size
    0.57 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    5158

    Utilities

    Cooling system
    Multi Units
    Water source
    Public

    Building Details

    Year built
    1983
    Number of units
    8
    Flooring type
    Concrete
    Building materials
    Brick, Vinyl Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Becky Schaffer
    Becky Schaffer

    Listing agent Becky Schaffer License #BR00049474

    Listing office Becky Schaffer Ins. & Real Estate 200 West River St., Eureka, KS

    Listing date Nov 18, 2025

    MLS# 665019 Listing URL

    Copyright © 2026 South Central Kansas MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Toronto Multifamily Investment Opportunity

    This multifamily property in Toronto, Kansas, features a mix of residential units and potential income streams. The complex comprises seven 1-bedroom apartments and one 2-bedroom apartment, along with a laundry room and a storage/office area. Notably, one of the 1-bedroom units and the 2-bedroom unit are currently utilized as short-term rentals via Airbnb. Each unit is equipped with an electric stove and refrigerator. Constructed primarily of brick, the all-electric complex offers a durable structure. Situated on the edge of Toronto, the property provides a country-like setting. A coin-operated washer and dryer are available in the laundry area for tenant use. The building is topped with a metal roof and gutters, and a small storage shed is located on the property. The property is currently managed by on-site managers. Financial information is available upon request. As of the time of this listing, one 1-bedroom apartment is vacant but applications are being reviewed. All units are handicapped accessible. The property is situated on a 0.57-acre lot. The building has a total area of 5261 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Restaurant Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Department Store Food Market HVAC Service Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Toronto
    County
    Woodson
    State
    Kansas
    Longitude
    -95.954981
    Latitude
    37.798601

    FAQs

    What type of property is this?
    Apartment building - 8-unit apartment complex with short-term rental potential in Toronto, KS.
    Where is this apartment building located?
    The property is located at 407 W Main St Toronto, 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: Mix of long‑term and short‑term rental income potential (Airbnb).; All units are handicapped accessible.; Durable metal roof and mostly brick construction.
    (620) 750-0054
    We can help!
    Listing Contact
    Becky Schaffer
    Becky Schaffer
    Real Estate License ID: BR00049474
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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