Two-Unit Duplex with
For Sale
$465,000
1220 And 1222 Lazy Creek Ct, Newton, KS 67114
Each residence includes a separate main-floor laundry room, kitchen appliances, and a finished basement area with a wet bar.
Property Size4,946 SF
Price / SF$94.02
Days on Market54
Property Features for 1220 And 1222 Lazy Creek Ct
General Information
Standard status
Active
Size
4,946 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,434
Listing Agency:
Berkshire Hathaway PenFed Realty
(316) 282-2600
Listed By:
Kathy Stucky
(316) 772-2479
Source:
Exprealty
Added: Sep 9
Changed: Oct 30
Last Checked: Nov 1 at 8:15AM
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 Berkshire Hathaway PenFed Realty
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Investment Insights
Based on property information with market context.
This duplex contains 4,946 square feet across two residences. Each side offers three bedrooms, three bathrooms, a living room with a gas fireplace, and a separate laundry room on the main floor. The basements include tiled flooring, a family room with a wet bar, space for an office or additional living area, and a substantial storage area in the mechanical room. Major kitchen appliances remain with the property, and each unit has its own sprinkler system.
Sound barriers between the units are intended to reduce noise transfer, and both sides are wired for surround sound. Some flooring has heating elements that require a control panel. The property is at 1220 and 1222 Lazy Creek Ct in Newton. The 1220 side is rented, while the 1222 side is vacant.
Sound barriers between the units are intended to reduce noise transfer, and both sides are wired for surround sound. Some flooring has heating elements that require a control panel. The property is at 1220 and 1222 Lazy Creek Ct in Newton. The 1220 side is rented, while the 1222 side is vacant.
Key Highlights
- Two‑unit duplex totaling 4,946 square feet
- Each side has 3 bedrooms and 3 bathrooms
- Basements include tiled floors, a wet‑bar family room, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,355
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$827,100
$827.1K
Cap Rate 7%
$590,786
$590.8K
Cap Rate 9%
$459,500
$459.5K
Market Conditions
NOI Build-Up for 4,946 SF
Gross rent
$62.3K $12.60/SF
− Vacancy
−$3.2K −$0.66/SF
EGI
$59.1K $11.94/SF
− OpEx
−$17.7K −$3.58/SF
NOI
$41.4K $8.36/SF
Area
Harvey 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 Rate 5%
$827,100
Cap Rate 7%
$590,786
Cap Rate 9%
$459,500
Alternative Uses
Best Use
Multifamily LT 5
$590.8K
$516.9K – $689.3K
NOI $41,355 @ 7.0% cap · market cap 8.89%
Second Best
Apartment 5plus
$544.9K
$476.8K – $635.7K
NOI $38,144 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$1.05M
$918.8K – $1.23M
NOI $73,502 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
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Business Placement
Demographics for 67114, KS
21,375
Population
9,382
Households
2.3
Avg Household Size
40
Median Age
30%
College-Educated
91%
High-School Grad
236.9 sq mi
ZIP Area
90
Density / Sq Mi
$68,393
Median Household Income
$39,617
Median Earnings
$909
Median Rent
$164,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes a separate main-floor laundry room, kitchen appliances, and a finished basement area with a wet bar.
Where is this duplex located?
The property is located at 1220 And 1222 Lazy Creek Ct Newton, KS.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 4,946 square feet; Each side has 3 bedrooms and 3 bathrooms; Basements include tiled floors, a wet‑bar family room, and storage
