Bi-Level Duplex with Pond
New
For Sale
$230,000
105 N Osage Rd, Derby, KS 67037
Residential, Derby, KS
Property Size2,056 SF
Lot Size0.30 Acres
Price / SF$111.87
Days on Market1
Property Features for 105 N Osage Rd
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Family Room, Bedroom 4, Laundry Room, Bathroom 1
Patio and Porch features
Deck
Interior features
Ceiling Fan(s)
Exterior features
Guttering - ALL
Fencing
Chain Link
Basement
Finished
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Range
Subdivision
OAK FOREST
Lot features
Pond/ Lake, Standard, Waterfront
Elementary school
Tanglewood
Middle school
Derby
High school
Derby
Elementary school district
Derby School District (USD 260)
Middle school district
Derby School District (USD 260)
High school district
Derby School District (USD 260)
Directions
From Madison Ave & Rock Rd: Head W on Madison Ave. Turn S onto Osage Rd, to the home.
Standard status
Active
APN
20173-00303331
Size
2,056 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Long legal; see private remarks
Tax Annual Amount
2880
Legal Description
Long legal; see private remarks
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas, Forced Air
Cooling system
Electric, Central Air
Water front
1
Amenities
hardwood floors
updated kitchen
granite countertops
subway tile backsplash
stainless steel appliances
sliding glass doors
private deck
fully-fenced back yard
view-out basement
family room
Building Details
Year built
1992
Floors in Building
2
Flooring type
Laminate
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Heritage 1st Realty
(316) 512-1300
Listed By:
Rebecca Berger
(316) 734-2491
Added: Sep 4
Last Checked: Sep 4 at 8:06PM
MLS# 678667
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.
Investment Insights
Based on property information with market context.
This 2,056-square-foot bi-level duplex includes four bedrooms, two bathrooms, multiple living areas, and a view-out basement. The main level combines hardwood flooring with separate living and dining spaces, while the renovated kitchen includes granite counters, white cabinetry, subway tile, stainless steel appliances, and sliding-door access to the deck. Lower-level living space adds a family room, bedrooms, and natural light. An attached two-car garage, chain-link fencing, and a deck contribute practical functionality. The home was built in 1992 and includes central air, forced-air natural gas heating, a composition roof, and a one-year-old water heater.
Set on a 0.3-acre lot at 105 N Osage Rd in Derby, the property looks toward a privately owned pond. Additional improvements include professionally foam-jacked driveway work and full guttering.
Set on a 0.3-acre lot at 105 N Osage Rd in Derby, the property looks toward a privately owned pond. Additional improvements include professionally foam-jacked driveway work and full guttering.
Key Highlights
- 2,056 square feet with four bedrooms and two bathrooms
- 0.3‑acre lot with views toward a privately owned pond
- Bi‑level layout with view‑out basement and multiple living areas
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
$17,191
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
7.47%
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%
$343,820
$343.8K
Cap Rate 7%
$245,586
$245.6K
Cap Rate 9%
$191,011
$191.0K
Market Conditions
NOI Build-Up for 2,056 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
$25.9K $12.60/SF
− Vacancy
−$1.3K −$0.66/SF
EGI
$24.6K $11.94/SF
− OpEx
−$7.4K −$3.58/SF
NOI
$17.2K $8.36/SF
Area
Sedgwick County, KS
Vacancy
5.20%
Lease Rate
$12.60 /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%
$343,820
Cap Rate 7%
$245,586
Cap Rate 9%
$191,011
Alternative Uses
Best Use
Multifamily LT 5
$245.6K
$214.9K – $286.5K
NOI $17,191 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$226.5K
$198.2K – $264.3K
NOI $15,856 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$428.5K
$375.0K – $500.0K
NOI $29,997 @ 7.0% cap · market cap 13.04%
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
305
Businesses Nearby
Explore this area
Business Placement
Demographics for 67037, KS
30,005
Population
12,680
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
96%
High-School Grad
53.6 sq mi
ZIP Area
560
Density / Sq Mi
$84,666
Median Household Income
$46,305
Median Earnings
$1,085
Median Rent
$227,200
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 - Updated kitchen, multiple living areas, and a fenced yard with deck support flexible everyday living.
Where is this duplex located?
The property is located at 105 N Osage Rd Derby, KS.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 2,056 square feet with four bedrooms and two bathrooms; 0.3‑acre lot with views toward a privately owned pond; Bi‑level layout with view‑out basement and multiple living areas
