Two-Story Duplex Under
For Sale
$284,950
510 W Lawrence Street, Spring Hill, KS 66083
Residential, Traditional, Spring Hill, KS
Property Size1,070 SF
Lot Size0.11 Acres
Price / SF$266.31
Days on Market307
Property Features for 510 W Lawrence Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Laundry Room, Bathroom 1, Basement, Dining Room, Bedroom 1, Bedroom 2, Laundry Room, Bathroom 2
Parking features
Garage
Patio and Porch features
Patio
Basement
Full, Concrete
Lot features
City Limits, Level
Elementary school
Spring Hill
Middle school
Spring Hill
High school
Spring Hill
Elementary school district
Spring Hill
Middle school district
Spring Hill
High school district
Spring Hill
Directions
From Webster West on Lawrence to home on the right.
Subdivision
370 - N=167th;S=Co Ln;E=Pflumm;W=Clare Rd
Standard status
Active
APN
EP49000000-0008
Size
1,070 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
HECKE'S FIRST ADDITION TO SPRING HILL, LOT 8, West portion
Tax Annual Amount
2600
Legal Description
HECKE'S FIRST ADDITION TO SPRING HILL, LOT 8, West portion
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
2026
Flooring type
Carpet, Vinyl
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Keller Williams Realty Partners Inc.
(913) 906-5400
Listed By:
Kim Nofsinger · License #SP00049676
(816) 820-1490
Added: Oct 27, 2025
Changed: Aug 19
Last Checked: Aug 29 at 6:06AM
MLS# 2583953
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 1,070-square-foot duplex is under construction with a two-story layout and a 2026 build year. The main level is arranged around an open living concept with extensive windows, a dining area, laundry room, and kitchen. Kitchen features include white cabinetry, granite countertops, and stainless appliances. The residence includes two bedrooms, 1.5 bathrooms, carpet and vinyl flooring, a garage, and a patio.
The unfinished lower level includes plumbing stubs for a future bathroom, providing a defined path for additional finished space. Frame construction, a composition roof, natural-gas heating, electric cooling, public water, and public sewer are specified. The property occupies 0.1102 acres at 510 W Lawrence Street in Spring Hill, Kansas.
The unfinished lower level includes plumbing stubs for a future bathroom, providing a defined path for additional finished space. Frame construction, a composition roof, natural-gas heating, electric cooling, public water, and public sewer are specified. The property occupies 0.1102 acres at 510 W Lawrence Street in Spring Hill, Kansas.
Key Highlights
- 1,070 SF duplex with a two‑story layout
- Two bedrooms and 1.5 bathrooms
- Under construction with a 2026 build year
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
$11,466
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
4.02%
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%
$229,320
$229.3K
Cap Rate 7%
$163,800
$163.8K
Cap Rate 9%
$127,400
$127.4K
Market Conditions
NOI Build-Up for 1,070 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
$17.3K $16.20/SF
− Vacancy
−$953 −$0.89/SF
EGI
$16.4K $15.31/SF
− OpEx
−$4.9K −$4.59/SF
NOI
$11.5K $10.72/SF
Area
Johnson County, KS
Vacancy
5.50%
Lease Rate
$16.20 /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%
$229,320
Cap Rate 7%
$163,800
Cap Rate 9%
$127,400
Alternative Uses
Best Use
Multifamily LT 5
$163.8K
$143.3K – $191.1K
NOI $11,466 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$153.7K
$134.5K – $179.3K
NOI $10,756 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$259.0K
$226.6K – $302.1K
NOI $18,127 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Explore this area
Business Placement
Demographics for 66083, KS
11,379
Population
4,677
Households
2.4
Avg Household Size
38
Median Age
44%
College-Educated
97%
High-School Grad
62.0 sq mi
ZIP Area
184
Density / Sq Mi
$109,939
Median Household Income
$51,924
Median Earnings
$1,118
Median Rent
$340,300
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 - Open-plan duplex with a garage, patio, modern kitchen finishes, and a lower level prepared for future expansion.
Where is this duplex located?
The property is located at 510 W Lawrence Street Spring Hill, KS.
What is the asking price?
The asking price for this property is $284,950.
What are key features of this property?
This property features: 1,070 SF duplex with a two‑story layout; Two bedrooms and 1.5 bathrooms; Under construction with a 2026 build year
