Updated Gated Residential Income
New
For Sale
$510,000
12940 Travis St, Overland Park, KS 66209
Reverse 1½-story residence with refreshed interiors, finished lower level, and community-maintained grounds.
Property Size2,575 SF
Price / SF$198.06
Days on Market6
Property Features for 12940 Travis St
General Information
Standard status
Active
Size
2,575 SF
Property subtype
Multi-Family
Building Details
Year Built
2002
Listing Agency:
Golden Oak Real Estate, LLC
(816) 224-5650
Listed By:
Amy Arndorfer · License #2000156181
(816) 224-5650
Source:
Amysold
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 28 at 7:07PM
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 Golden Oak Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 2002, this reverse 1½-story residential income property is positioned within a gated, maintenance-provided community and includes a finished lower level. Recent updates include new carpet on the main level, fresh neutral interior paint, new tile in the primary bathroom, and a recently installed 50-year roof. Gutters have been cleaned, with gutter guards in place, and the landscaping has been trimmed and refreshed.
The home sits in a cul-de-sac with visitor parking beside the driveway. Interior storage is well represented, including plentiful closets and walk-in closets in two bedrooms. The property also offers convenient access to shopping, restaurants, doctors, a hospital, and major streets.
The home sits in a cul-de-sac with visitor parking beside the driveway. Interior storage is well represented, including plentiful closets and walk-in closets in two bedrooms. The property also offers convenient access to shopping, restaurants, doctors, a hospital, and major streets.
Key Highlights
- 2002‑built reverse 1½‑story residential income property
- Gated, maintenance‑provided community in Overland Park
- Finished lower level with plentiful storage and closets
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
$27,014
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
5.30%
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%
$540,280
$540.3K
Cap Rate 7%
$385,914
$385.9K
Cap Rate 9%
$300,156
$300.2K
Market Conditions
NOI Build-Up for 2,575 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
$52.5K $20.40/SF
− Vacancy
−$3.4K −$1.33/SF
EGI
$49.1K $19.07/SF
− OpEx
−$22.1K −$8.58/SF
NOI
$27.0K $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%
$540,280
Cap Rate 7%
$385,914
Cap Rate 9%
$300,156
Alternative Uses
Best Use
Apartment 5plus
$385.9K
$337.7K – $450.2K
NOI $27,014 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$663.5K
$580.5K – $774.1K
NOI $46,443 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Explore this area
Business Placement
Demographics for 66209, KS
20,056
Population
8,683
Households
2.3
Avg Household Size
48
Median Age
75%
College-Educated
98%
High-School Grad
6.5 sq mi
ZIP Area
3,086
Density / Sq Mi
$148,081
Median Household Income
$76,040
Median Earnings
$1,465
Median Rent
$554,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Reverse 1½-story residence with refreshed interiors, finished lower level, and community-maintained grounds.
Where is this residential income property located?
The property is located at 12940 Travis St Overland Park, KS.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: 2002‑built reverse 1½‑story residential income property; Gated, maintenance‑provided community in Overland Park; Finished lower level with plentiful storage and closets
