New Construction
For Sale
$279,900
513 W Smith Street, Spring Hill, KS 66083
Residential, Traditional, Spring Hill, KS
Property Size1,216 SF
Lot Size0.11 Acres
Price / SF$230.18
Days on Market345
Property Features for 513 W Smith Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2, Basement, Dining Room
Parking features
Garage
Basement
Concrete, Sump Pump
Appliances
Dishwasher, Disposal, Microwave, Electric Range
Subdivision
Spring Hill
Lot features
City Lot, 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 right on Lawrence to Jackson, right to Smith home is on the left.
Standard status
Active
APN
999999
Size
1,216 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
HECKE'S FIRST ADDITION TO SPRING HILL, LOT 1, East side
Tax Annual Amount
2500
Legal Description
HECKE'S FIRST ADDITION TO SPRING HILL, LOT 1, East side
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
2026
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: Sep 26, 2025
Changed: Sep 1
Last Checked: Sep 5 at 1:06AM
MLS# 2576318
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 under-construction half duplex offers a split-bedroom layout with an open connection between the living room, kitchen, and dining area. The main floor includes two bedrooms and a full bathroom, while the finished walkout lower level adds a second full bathroom. A sub-basement provides additional storage space.
The residence contains 1,216 square feet on a 0.1103-acre lot and was built in 2026. Kitchen features include granite countertops, stainless appliances, generous cabinet storage, a dishwasher, disposal, microwave, and electric range. The property also includes a garage, frame construction, composition roofing, natural gas heat, electric cooling, public water, and public sewer. It is located in Spring Hill, Kansas.
The residence contains 1,216 square feet on a 0.1103-acre lot and was built in 2026. Kitchen features include granite countertops, stainless appliances, generous cabinet storage, a dishwasher, disposal, microwave, and electric range. The property also includes a garage, frame construction, composition roofing, natural gas heat, electric cooling, public water, and public sewer. It is located in Spring Hill, Kansas.
Key Highlights
- Under‑construction half duplex with 1,216 square feet
- Finished walkout lower level with a second full bathroom
- Two bedrooms and a full bathroom on the main floor
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
$13,031
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
4.66%
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%
$260,620
$260.6K
Cap Rate 7%
$186,157
$186.2K
Cap Rate 9%
$144,789
$144.8K
Market Conditions
NOI Build-Up for 1,216 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
$19.7K $16.20/SF
− Vacancy
−$1.1K −$0.89/SF
EGI
$18.6K $15.31/SF
− OpEx
−$5.6K −$4.59/SF
NOI
$13.0K $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%
$260,620
Cap Rate 7%
$186,157
Cap Rate 9%
$144,789
Alternative Uses
Best Use
Multifamily LT 5
$186.2K
$162.9K – $217.2K
NOI $13,031 @ 7.0% cap · market cap 4.66%
Second Best
Apartment 5plus
$174.6K
$152.8K – $203.7K
NOI $12,224 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$294.3K
$257.5K – $343.4K
NOI $20,601 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Half-duplex residence with an open main level, finished lower floor, garage, and contemporary kitchen finishes.
Where is this duplex located?
The property is located at 513 W Smith Street Spring Hill, KS.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Under‑construction half duplex with 1,216 square feet; Finished walkout lower level with a second full bathroom; Two bedrooms and a full bathroom on the main floor
