Duplex with Main-Level Primary
New
For Sale
$250,000
1241 S 5th Street, Louisburg, KS 66053
Residential, Traditional, Louisburg, KS
Property Size1,347 SF
Lot Size0.11 Acres
Price / SF$185.60
Days on Market5
Property Features for 1241 S 5th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Dining Room, Bathroom 1, Bedroom 2, Basement, Bedroom 3, Bedroom 1
Parking features
Garage
Patio and Porch features
Patio
Interior features
Vaulted Ceiling(s)
Exterior features
Sat Dish Allowed
Basement
Concrete, Sump Pump
Subdivision
Starbrooke
Lot features
City Lot
Elementary school
Louisburg
Middle school
Louisburg
High school
Louisburg
Elementary school district
Louisburg
Middle school district
Louisburg
High school district
Louisburg
Directions
69 Highway to Exit 68 Louisburg, East to Harvest Drive by Water Tower to S 5th Street East, Left to home on the right
Standard status
Active
APN
1093200000001520
Size
1,347 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
TR Beg NW/C Lt 12 Starbrooke
Tax Annual Amount
2777
HOA Fee
$225 Annually
Legal Description
TR Beg NW/C Lt 12 Starbrooke
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
2003
Flooring type
Carpet
Building materials
Board & Batten Siding, Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Platinum Realty LLC
(888) 220-0988
Listed By:
Jo Ann Boyer
(913) 226-5131
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 30 at 12:06PM
MLS# 2638959
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 2003 duplex offers 1,347 square feet with a main-level primary bedroom, private bath, and walk-in closet. Two additional bedrooms and a second full bathroom are located upstairs, while the kitchen connects to a main-floor laundry room. Recent carpet replacement extends throughout the home. The interior also includes vaulted ceilings, and the property features a garage, patio, composition roof, frame construction with board-and-batten siding, natural-gas heat, electric cooling, public water, and public sewer.
Located at 1241 S 5th Street in Louisburg, the property is within walking distance of Louisburg schools. The city aquatic center and a playground are also described as a short walk away.
A daylight basement adds additional space, with an egress window and bathroom plumbing already stubbed for future finishing.
Located at 1241 S 5th Street in Louisburg, the property is within walking distance of Louisburg schools. The city aquatic center and a playground are also described as a short walk away.
A daylight basement adds additional space, with an egress window and bathroom plumbing already stubbed for future finishing.
Key Highlights
- 1,347‑square‑foot duplex built in 2003
- Main‑level primary bedroom with private bath and walk‑in closet
- Two additional bedrooms and full bathroom on the second level
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
$14,333
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
5.73%
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%
$286,660
$286.7K
Cap Rate 7%
$204,757
$204.8K
Cap Rate 9%
$159,256
$159.3K
Market Conditions
NOI Build-Up for 1,347 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
$21.8K $16.20/SF
− Vacancy
−$1.3K −$1.00/SF
EGI
$20.5K $15.20/SF
− OpEx
−$6.1K −$4.56/SF
NOI
$14.3K $10.64/SF
Area
Miami County, KS
Vacancy
6.17%
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%
$286,660
Cap Rate 7%
$204,757
Cap Rate 9%
$159,256
Alternative Uses
Best Use
Multifamily LT 5
$204.8K
$179.2K – $238.9K
NOI $14,333 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$178.1K
$155.9K – $207.8K
NOI $12,469 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office B
$265.0K
$231.9K – $309.1K
NOI $18,548 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
78
Businesses Nearby
Explore this area
Business Placement
Demographics for 66053, KS
8,325
Population
3,309
Households
2.5
Avg Household Size
39
Median Age
36%
College-Educated
96%
High-School Grad
103.8 sq mi
ZIP Area
80
Density / Sq Mi
$89,743
Median Household Income
$49,460
Median Earnings
$1,399
Median Rent
$300,000
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 - Two-level residence with a main-floor primary suite, attached garage, patio, and unfinished daylight basement.
Where is this duplex located?
The property is located at 1241 S 5th Street Louisburg, KS.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,347‑square‑foot duplex built in 2003; Main‑level primary bedroom with private bath and walk‑in closet; Two additional bedrooms and full bathroom on the second level
