Duplex with Finished Lower
For Sale
$325,000
10569 Century Ln, Lenexa, KS 66215
Three-bedroom residence with a two-car garage, deck, fenced backyard, and flexible additional living space.
Property Size1,710 SF
Price / SF$190.06
Days on Market38
Property Features for 10569 Century Ln
General Information
Standard status
Active
Size
1,710 SF
Property subtype
Multi-Family
Building Details
Year Built
1984
Listing Agency:
Keller Williams Realty Partners Inc.
(816) 268-4033
Listed By:
Ask Cathy
(816) 268-4033
Source:
Askcathy
Added: Jul 25
Changed: Aug 30
Last Checked: Aug 31 at 3:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Partners Inc.
Investment Insights
Based on property information with market context.
This well-maintained half duplex offers a practical three-level layout with an open living room featuring soaring ceilings and a fireplace. The eat-in kitchen includes ample cabinetry, stainless steel appliances, and backyard views, while the adjoining deck extends the usable living area outdoors. A half bath serves the main level.
Upstairs are three bedrooms, including a primary suite with extensive closet space and a private bath with Jack-and-Jill access to the hall bath. The finished daylight lower level adds built-in cabinetry and a second full bath, with an unfinished storage area for seasonal belongings. Additional features include a two-car garage and fenced backyard. The property is located at the end of a cul-de-sac near shopping, dining, parks, and major highways.
Upstairs are three bedrooms, including a primary suite with extensive closet space and a private bath with Jack-and-Jill access to the hall bath. The finished daylight lower level adds built-in cabinetry and a second full bath, with an unfinished storage area for seasonal belongings. Additional features include a two-car garage and fenced backyard. The property is located at the end of a cul-de-sac near shopping, dining, parks, and major highways.
Key Highlights
- Finished daylight lower level with built‑in cabinetry and a second full bath
- Three‑bedroom layout with a primary suite and extensive closet space
- Eat‑in kitchen with stainless steel appliances and abundant cabinetry
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
$18,325
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
5.64%
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%
$366,500
$366.5K
Cap Rate 7%
$261,786
$261.8K
Cap Rate 9%
$203,611
$203.6K
Market Conditions
NOI Build-Up for 1,710 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
$27.7K $16.20/SF
− Vacancy
−$1.5K −$0.89/SF
EGI
$26.2K $15.31/SF
− OpEx
−$7.9K −$4.59/SF
NOI
$18.3K $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%
$366,500
Cap Rate 7%
$261,786
Cap Rate 9%
$203,611
Alternative Uses
Best Use
Multifamily LT 5
$261.8K
$229.1K – $305.4K
NOI $18,325 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$245.6K
$214.9K – $286.5K
NOI $17,190 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$413.9K
$362.1K – $482.8K
NOI $28,970 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
Explore this area
Business Placement
Demographics for 66215, KS
26,351
Population
11,945
Households
2.2
Avg Household Size
40
Median Age
51%
College-Educated
96%
High-School Grad
8.1 sq mi
ZIP Area
3,253
Density / Sq Mi
$89,065
Median Household Income
$48,448
Median Earnings
$1,420
Median Rent
$311,600
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 - Three-bedroom residence with a two-car garage, deck, fenced backyard, and flexible additional living space.
Where is this duplex located?
The property is located at 10569 Century Ln Lenexa, KS.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Finished daylight lower level with built‑in cabinetry and a second full bath; Three‑bedroom layout with a primary suite and extensive closet space; Eat‑in kitchen with stainless steel appliances and abundant cabinetry
