Walk-Out Ranch
New
For Sale
$310,000
1143 SW Red Oaks PL, Topeka, KS 66615
SINGLE_FAMILY - Ranch - Topeka, KS
Property Size2,617 SF
Lot Size0.23 Acres
Price / SF$118.46
Days on Market1
Property Features for 1143 SW Red Oaks PL
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 1, Basement, Bedroom 4, Bathroom 1, Bedroom 3, Game Room, Dining Room, Bathroom 3, Laundry Room, Bathroom 2
Patio and Porch features
Deck
Interior features
Carpet, Sheetrock
Exterior features
Deck
Basement
Concrete, Walk-Out Access, Partially Finished
Appliances
Electric Range, Dishwasher, Refrigerator, Auto Garage Opener(s), Water Softener Owned, Washer, Dryer
Subdivision
Red Oak Pl
Lot features
Sidewalk
Elementary school
Wanamaker Elementary School/USD 437
Middle school
Washburn Rural Middle School/USD 437
High school
Washburn Rural High School/USD 437
Directions
From 21st & Urish go North on Urish to Red Oaks Place &turn East to address
Standard status
Active
APN
R16342
Size
2,617 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
4749
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
granite counter tops
walk-in closet
cedar closet
onyx walk-in shower
rec room
safe room
two decks
main floor laundry
Building Details
Year built
2002
Flooring type
Vinyl, Tile - Ceramic
Building materials
Vinyl Siding
Architectural style
Ranch
Listing Agency:
KW One Legacy Partners, LLC · Keller Williams Realty
(785) 246-8075
Listed By:
Sandra Haines · License #SP00233997
(785) 383-0951
Added: Aug 12
Last Checked: Aug 12 at 2:06PM
MLS# 246016
Copyright © 2026 Sunflower Association of REALTORS. 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 2,617-square-foot residential income property is configured as a walk-out ranch half-duplex in Topeka’s Red Oaks neighborhood. The home includes 4 bedrooms, 3 bathrooms, an open living layout, a large kitchen with granite countertops, and main-floor laundry. Three bedrooms are located on the main level, while the basement adds a bedroom with an en-suite bathroom, a recreation room, and a safe room.
The primary bedroom features an en-suite bathroom, walk-in closet, cedar closet, and newer onyx walk-in shower. Additional improvements include a 2-car garage, two decks facing a wooded backyard, vinyl siding, central air, natural gas heating, public water, and public sewer. A new roof is coming soon. The property sits on a 0.23-acre lot and was built in 2002.
The primary bedroom features an en-suite bathroom, walk-in closet, cedar closet, and newer onyx walk-in shower. Additional improvements include a 2-car garage, two decks facing a wooded backyard, vinyl siding, central air, natural gas heating, public water, and public sewer. A new roof is coming soon. The property sits on a 0.23-acre lot and was built in 2002.
Key Highlights
- 2,617‑square‑foot walk‑out ranch half‑duplex
- 4 bedrooms and 3 bathrooms, including a basement bedroom with en‑suite bath
- Open layout with large granite‑counter kitchen and main‑floor laundry
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
$18,378
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
5.93%
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%
$367,560
$367.6K
Cap Rate 7%
$262,543
$262.5K
Cap Rate 9%
$204,200
$204.2K
Market Conditions
NOI Build-Up for 2,617 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
$35.2K $13.44/SF
− Vacancy
−$1.8K −$0.67/SF
EGI
$33.4K $12.77/SF
− OpEx
−$15.0K −$5.75/SF
NOI
$18.4K $7.02/SF
Area
Topeka, KS
Vacancy
5.00%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
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%
$367,560
Cap Rate 7%
$262,543
Cap Rate 9%
$204,200
Alternative Uses
Best Use
Apartment 5plus
$262.5K
$229.7K – $306.3K
NOI $18,378 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$295.2K
$258.3K – $344.4K
NOI $20,664 @ 7.0% cap · market cap 6.67%
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
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 66615, KS
3,500
Population
1,566
Households
2.2
Avg Household Size
45
Median Age
46%
College-Educated
99%
High-School Grad
44.9 sq mi
ZIP Area
78
Density / Sq Mi
$89,500
Median Household Income
$50,978
Median Earnings
$1,294
Median Rent
$272,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Open-plan home with granite kitchen, main-floor laundry, two decks, and a two-car garage.
Where is this residential income property located?
The property is located at 1143 SW Red Oaks PL Topeka, KS.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 2,617‑square‑foot walk‑out ranch half‑duplex; 4 bedrooms and 3 bathrooms, including a basement bedroom with en‑suite bath; Open layout with large granite‑counter kitchen and main‑floor laundry
