Updated Duplex with Outdoor
For Sale
$380,000
8303 W 121st Street, Overland Park, KS 66213
Residential, Traditional, Overland Park, KS
Property Size2,218 SF
Lot Size0.11 Acres
Price / SF$171.33
Days on Market8
Property Features for 8303 W 121st Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Dining Room, Family Room, Bathroom 2, Game Room, Bedroom 2, Bedroom 1, Basement, Bathroom 1, Bedroom 3, Bathroom 3
Parking features
Open, Garage
Security features
Security System
Patio and Porch features
Deck
Interior features
Cedar Closet, Ceiling Fan(s), Wet Bar
Fireplace
1
Basement
Finished, Daylight
Appliances
Dishwasher, Disposal, Microwave, Free-Standing Electric Oven
Subdivision
Sumarlee Estates
Lot features
City Lot, Sprinkler- In Ground, Many Trees
Elementary school
Valley Park
Middle school
Overland Trail
High school
Blue Valley North
Elementary school district
Blue Valley
Middle school district
Blue Valley
High school district
Blue Valley
Directions
From Antioch, turn east on 120 St., then right, and the house will be on the right
Standard status
Active
APN
NP82400004 0012A
Size
2,218 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
Sumarlee Estates W 39'' Lt 12 Blk
Tax Annual Amount
4015
HOA Fee
$86 Monthly
Legal Description
Sumarlee Estates W 39'' Lt 12 Blk
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Attic Fan, Electric
Water source
Public
Amenities
composite deck
patio
professionally landscaped backyard
French drains
built-in shelving
cedar closet
main-floor laundry
Building Details
Year built
1984
Flooring type
Carpet, Ceramic floor, Wood
Building materials
Board & Batten Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
Compass Realty Group
(816) 280-2773
Listed By:
Lauren Hruby
(816) 529-6174
Added: Aug 17
Changed: Aug 24
Last Checked: Aug 24 at 3:06PM
MLS# 2637268
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 well-maintained duplex includes 2,218 square feet of living space, three bedrooms, 2.5 bathrooms, a main-floor laundry area, and a basement with built-in shelving and a cedar closet. Interior improvements include a kitchen completed less than two years ago, updated porcelain tile and fixtures in two bathrooms, newer windows installed within the past 10 years, and newer blinds. The home also features a wet bar, fireplace, forced-air heating, electric cooling, and a two-car garage.
Outdoor improvements include a composite deck added in 2025, a newer patio, professional landscaping, French drains, and a sprinkler system. The property occupies 0.1107 acres and has a composition roof approximately four years old. Westmont contains approximately 166 homes and offers scheduled social events. The HOA provides lawn care, trash removal, and snow removal. The property is located in Overland Park's Blue Valley School District, near shopping, dining, services, and other amenities.
Outdoor improvements include a composite deck added in 2025, a newer patio, professional landscaping, French drains, and a sprinkler system. The property occupies 0.1107 acres and has a composition roof approximately four years old. Westmont contains approximately 166 homes and offers scheduled social events. The HOA provides lawn care, trash removal, and snow removal. The property is located in Overland Park's Blue Valley School District, near shopping, dining, services, and other amenities.
Key Highlights
- 2,218‑square‑foot duplex with 3 bedrooms and 2.5 bathrooms
- Kitchen completed less than two years ago; two bathrooms have newer porcelain tile and fixtures
- Composite deck added in 2025, plus newer patio and professionally landscaped backyard
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
$25,348
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
6.67%
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%
$506,960
$507.0K
Cap Rate 7%
$362,114
$362.1K
Cap Rate 9%
$281,644
$281.6K
Market Conditions
NOI Build-Up for 2,218 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
$38.6K $17.40/SF
− Vacancy
−$2.4K −$1.07/SF
EGI
$36.2K $16.33/SF
− OpEx
−$10.9K −$4.90/SF
NOI
$25.3K $11.43/SF
Area
Overland Park, KS
Vacancy
6.17%
Lease Rate
$17.40 /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%
$506,960
Cap Rate 7%
$362,114
Cap Rate 9%
$281,644
Alternative Uses
Best Use
Multifamily LT 5
$362.1K
$316.9K – $422.5K
NOI $25,348 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$332.4K
$290.9K – $387.8K
NOI $23,268 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$571.5K
$500.1K – $666.7K
NOI $40,004 @ 7.0% cap · market cap 10.53%
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
688
Businesses Nearby
Explore this area
Business Placement
Demographics for 66213, KS
30,987
Population
13,678
Households
2.3
Avg Household Size
39
Median Age
69%
College-Educated
98%
High-School Grad
7.8 sq mi
ZIP Area
3,973
Density / Sq Mi
$114,926
Median Household Income
$61,513
Median Earnings
$1,554
Median Rent
$445,100
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 - Well-maintained duplex offering refreshed interiors, private outdoor space, basement storage, and garage parking in Westmont.
Where is this duplex located?
The property is located at 8303 W 121st Street Overland Park, KS.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 2,218‑square‑foot duplex with 3 bedrooms and 2.5 bathrooms; Kitchen completed less than two years ago; two bathrooms have newer porcelain tile and fixtures; Composite deck added in 2025, plus newer patio and professionally landscaped backyard
