Ranch-Style Half
New
For Sale
$249,000
123 E Madison Street, Gardner, KS 66030
Residential, Traditional, Gardner, KS
Property Size955 SF
Lot Size0.08 Acres
Price / SF$260.73
Days on Market5
Property Features for 123 E Madison Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Laundry Room, Bedroom 2, Family Room, Laundry Room, Bathroom 1
Parking features
Garage
Patio and Porch features
Patio
Interior features
Walk-In Closet(s)
Appliances
Dishwasher, Disposal, Free-Standing Electric Oven
Lot features
City Lot
Elementary school
Gardner
Middle school
Wheatridge
High school
Gardner Edgerton
Elementary school district
Gardner Edgerton
Middle school district
Gardner Edgerton
High school district
Gardner Edgerton
Directions
I-35 Gardner exit, turn right/west onto 175th St/Main St/US 56 Hwy. At Moonlight Road, turn right/North. At Madison St, turn left/West. Home will be on the left after the curve.
Subdivision
360 - N=143rd;S=Miami Co Ln;E=Clare Rd;W=Co Ln
Standard status
Active
APN
CF221424-2060
Size
955 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
24-14-22 BG 530' N 218' & 72.65' E SW CR N 1/2 SW1/4 N 102' E 35.25' S 102' W 35.35' TO POB .083 ACS M/L GAC 97A
Tax Annual Amount
2217
Legal Description
24-14-22 BG 530' N 218' & 72.65' E SW CR N 1/2 SW1/4 N 102' E 35.25' S 102' W 35.35' TO POB .083 ACS M/L GAC 97A
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
1994
Flooring type
Carpet, Tile
Building materials
Vinyl Siding
Roof type
Composition
Architectural style
Other
Additional Structures
Outbuilding
Listing Agency:
Orenda Real Estate Services
(816) 355-4242
Listed By:
Eddie Davis
(816) 548-0580
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 27 at 9:06AM
MLS# 2648697
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.
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Investment Insights
Based on property information with market context.
This 955-square-foot half duplex was built in 1994 and offers a one-level layout. Interior finishes include tile and carpet flooring, quartz countertops, stainless steel appliances, and a walk-in shower. The home also has a walk-in closet, garage parking, an enclosed front sunroom, and a rear patio. The lot measures 0.08 acres.
Public water and sewer serve the property. Nearby destinations include the Johnson County Fairgrounds, a city pool, parks, the Gardner Greenway, and shopping.
Public water and sewer serve the property. Nearby destinations include the Johnson County Fairgrounds, a city pool, parks, the Gardner Greenway, and shopping.
Key Highlights
- 955‑square‑foot, one‑level half duplex
- 0.08‑acre lot; built in 1994
- Enclosed front sunroom and rear patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,600
Cap Rate
3.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$192,000
$192.0K
Cap Rate 7%
$137,143
$137.1K
Cap Rate 9%
$106,667
$106.7K
Market Conditions
NOI Build-Up for 955 SF
Gross rent
$18.1K $18.96/SF
− Vacancy
−$652 −$0.68/SF
EGI
$17.5K $18.28/SF
− OpEx
−$7.9K −$8.22/SF
NOI
$9.6K $10.05/SF
Area
Johnson County, KS
Vacancy
3.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$192,000
Cap Rate 7%
$137,143
Cap Rate 9%
$106,667
Alternative Uses
Best Use
Apartment 5plus
$137.1K
$120.0K – $160.0K
NOI $9,600 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$231.1K
$202.2K – $269.7K
NOI $16,179 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
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Business Placement
Demographics for 66030, KS
25,164
Population
9,319
Households
2.7
Avg Household Size
33
Median Age
34%
College-Educated
96%
High-School Grad
46.4 sq mi
ZIP Area
542
Density / Sq Mi
$93,891
Median Household Income
$48,661
Median Earnings
$1,306
Median Rent
$281,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Single-level residence with an enclosed front sunroom, garage parking, and a rear patio.
Where is this residential income property located?
The property is located at 123 E Madison Street Gardner, KS.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 955‑square‑foot, one‑level half duplex; 0.08‑acre lot; built in 1994; Enclosed front sunroom and rear patio
