Residential Income Property with
For Sale
$360,000
12014 Hemlock Street, Overland Park, KS 66213
Residential, Traditional, Overland Park, KS
Property Size1,635 SF
Lot Size0.15 Acres
Price / SF$220.18
Days on Market20
Property Features for 12014 Hemlock Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 1, Bathroom 3, Dining Room, Bathroom 1, Bedroom 3, Basement, Bedroom 2
Parking features
Garage, Open
Security features
Security System
Window features
Window Coverings, Skylight(s)
Patio and Porch features
Deck
Interior features
Ceiling Fan(s), Pantry, Vaulted Ceiling(s), Walk-In Closet(s), Wet Bar
Exterior features
Dormer
Fireplace
1
Basement
Unfinished, Concrete, Full, Sump Pump
Appliances
Dishwasher, Disposal, Dryer, Exhaust Fan, Humidifier, Refrigerator, Electric Range, Stainless Steel Appliance(s), Washer
Subdivision
Sumarlee Estates
Lot features
City Limits, Corner 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
South on Antioch from 119th Street to entrance into Westmont/Summarlee Estates. Shortly after entry, take right on Mackey and curve onto 121st Street. Left on Hemlock to 12014 Hemlock on west side of street.
Standard status
Active
APN
NP82400002 0042A
Size
1,635 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
Sumarlee Estates S 56.2' Lt 42BLK 2 OPC 447 2 42A
Tax Annual Amount
3735
HOA Fee
$86 Monthly
Legal Description
Sumarlee Estates S 56.2' Lt 42BLK 2 OPC 447 2 42A
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Electric, Attic Fan
Water source
Public
Amenities
security system
stone gas-log fireplace
deck
pergola
privacy fencing
skylight
vaulted ceilings
center island
pantry
wet bar
LG washer and dryer
Building Details
Year built
1985
Flooring type
Carpet, Laminate
Building materials
Frame, Lap Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
EXP Realty LLC
(913) 451-6767
Listed By:
DeAnna Gordon
(816) 591-9223
Added: Sep 3
Changed: Sep 22
Last Checked: Sep 22 at 2:06PM
MLS# 2640427
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 1,635-square-foot residential income property, built in 1985, is arranged across one-and-a-half stories with a first-floor primary suite, additional bedrooms upstairs, and a full basement beneath the living area. The interior includes vaulted ceilings, a skylight, a gas-log fireplace, wet bar, pantry, center-island kitchen, stainless steel appliances, and a laundry room with washer and dryer. The primary suite features dual closets, a double vanity, soaking tub, and separate shower, while two upper bedrooms connect through a Jack-and-Jill bath. A loft provides additional flexible space.
Set on a 0.1483-acre corner lot, the property includes a deck, pergola, privacy fencing, sprinkler system, security system, and attached oversized 2-car garage. Updates include a new driveway, newer high-end HVAC system, and a 5-year-old GAF Timberline roof. HOA services cover lawn maintenance, snow removal, and trash pickup. Public water and sewer serve the property, with shopping, dining, parks, and everyday amenities nearby in Overland Park.
Set on a 0.1483-acre corner lot, the property includes a deck, pergola, privacy fencing, sprinkler system, security system, and attached oversized 2-car garage. Updates include a new driveway, newer high-end HVAC system, and a 5-year-old GAF Timberline roof. HOA services cover lawn maintenance, snow removal, and trash pickup. Public water and sewer serve the property, with shopping, dining, parks, and everyday amenities nearby in Overland Park.
Key Highlights
- 1,635‑square‑foot property on a 0.1483‑acre corner lot
- First‑floor primary suite with double vanity, tub, and separate shower
- Two upstairs bedrooms connected by a Jack‑and‑Jill bath
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
$17,152
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
4.76%
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%
$343,040
$343.0K
Cap Rate 7%
$245,029
$245.0K
Cap Rate 9%
$190,578
$190.6K
Market Conditions
NOI Build-Up for 1,635 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
$33.4K $20.40/SF
− Vacancy
−$2.2K −$1.33/SF
EGI
$31.2K $19.07/SF
− OpEx
−$14.0K −$8.58/SF
NOI
$17.2K $10.49/SF
Area
Overland Park, KS
Vacancy
6.50%
Lease Rate
$20.40 /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%
$343,040
Cap Rate 7%
$245,029
Cap Rate 9%
$190,578
Alternative Uses
Best Use
Apartment 5plus
$245.0K
$214.4K – $285.9K
NOI $17,152 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$421.3K
$368.6K – $491.5K
NOI $29,489 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
570
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
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Frequently Asked Questions
What type of property is this?
Single family property - Maintained one-and-a-half-story residence offering flexible living areas, extensive storage, and community-maintained exterior services.
Where is this single family property located?
The property is located at 12014 Hemlock Street Overland Park, KS.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 1,635‑square‑foot property on a 0.1483‑acre corner lot; First‑floor primary suite with double vanity, tub, and separate shower; Two upstairs bedrooms connected by a Jack‑and‑Jill bath
