Well-Maintained Duplex with Private
For Sale
Under Contract
$245,000
921 N Jan-Mar Drive, Olathe, KS 66061
Residential, Traditional, Olathe, KS
Property Size1,128 SF
Lot Size0.11 Acres
Price / SF$217.20
Days on Market52
Property Features for 921 N Jan-Mar Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 3, Bedroom 2, Basement, Bathroom 1, Bedroom 1
Parking features
Garage
Patio and Porch features
Deck
Interior features
Stained Cabinets
Fencing
Privacy
Basement
Concrete
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Electric Range, Stainless Steel Appliance(s)
Subdivision
Gaslight Acres
Lot features
Adjoin Greenspace, City Lot, Many Trees
Elementary school
Washington
Middle school
Santa Fe Trail
High school
Olathe North
Elementary school district
Olathe
Middle school district
Olathe
High school district
Olathe
Directions
E Harold to N Jan-Mar, go North, home will be on your right.
Standard status
Active Under Contract
APN
DP28100006 0024A
Size
1,128 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
RESURVEY & RESUBDIVISION OF LOTS 4-20 BLOCK 6 GAS LIGHT ACRES BG 41.27' S NW CR LT 24 BLK 6 E 115' S 41.79' TO SE CRW 115' N 41.73' TO POB
Tax Annual Amount
2757
Legal Description
RESURVEY & RESUBDIVISION OF LOTS 4-20 BLOCK 6 GAS LIGHT ACRES BG 41.27' S NW CR LT 24 BLK 6 E 115' S 41.79' TO SE CRW 115' N 41.73' TO POB
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Electric
Water source
Public
Building Details
Year built
1972
Flooring type
Carpet, Tile, Wood
Building materials
Brick Trim, Vinyl Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
Keller Williams Realty Partners Inc.
(913) 906-5400
Listed By:
Bryan Huff · License #SP00228927
(913) 907-0760
Added: Jul 9
Changed: Aug 25
Last Checked: Aug 29 at 6:06AM
MLS# 2630583
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 duplex in Olathe, Kansas, was built in 1972 and contains 1,128 square feet. The property features bamboo and tile flooring, stained cabinetry, granite countertops, and stainless steel appliances, including a refrigerator, dishwasher, disposal, microwave, and electric range. A newer composition roof, forced-air heating, electric cooling, and public water and sewer support the property’s core systems.
Outdoor features include a private deck, privacy fencing, and a backyard adjoining the walking trails and pickleball courts at Two Trails Park. The attached garage has a painted floor, while the sub-basement provides laundry space and storage. The property is located near parks, trails, shopping, dining, and commuter routes.
Outdoor features include a private deck, privacy fencing, and a backyard adjoining the walking trails and pickleball courts at Two Trails Park. The attached garage has a painted floor, while the sub-basement provides laundry space and storage. The property is located near parks, trails, shopping, dining, and commuter routes.
Key Highlights
- Duplex built in 1972 with 1,128 square feet
- Bamboo, wood, carpet, and tile flooring throughout
- Granite countertops, stained cabinets, and stainless steel appliances
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
$12,002
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
4.90%
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%
$240,040
$240.0K
Cap Rate 7%
$171,457
$171.5K
Cap Rate 9%
$133,356
$133.4K
Market Conditions
NOI Build-Up for 1,128 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
$18.3K $16.20/SF
− Vacancy
−$1.1K −$1.00/SF
EGI
$17.1K $15.20/SF
− OpEx
−$5.1K −$4.56/SF
NOI
$12.0K $10.64/SF
Area
Olathe, KS
Vacancy
6.17%
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%
$240,040
Cap Rate 7%
$171,457
Cap Rate 9%
$133,356
Alternative Uses
Best Use
Multifamily LT 5
$171.5K
$150.0K – $200.0K
NOI $12,002 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$149.2K
$130.5K – $174.0K
NOI $10,441 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$333.4K
$291.7K – $388.9K
NOI $23,336 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
Explore this area
Business Placement
Demographics for 66061, KS
66,166
Population
24,744
Households
2.7
Avg Household Size
36
Median Age
45%
College-Educated
93%
High-School Grad
63.3 sq mi
ZIP Area
1,045
Density / Sq Mi
$109,110
Median Household Income
$50,736
Median Earnings
$1,228
Median Rent
$337,400
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 - Duplex with refreshed interior finishes, enclosed outdoor space, garage parking, and direct access to nearby recreational amenities.
Where is this duplex located?
The property is located at 921 N Jan-Mar Drive Olathe, KS.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Duplex built in 1972 with 1,128 square feet; Bamboo, wood, carpet, and tile flooring throughout; Granite countertops, stained cabinets, and stainless steel appliances
