Residential Income Property with
1503 W LOULA Street Olathe, KS 66061
New
1503 W LOULA Street, Olathe, KS, 66061
$185,000
For Sale
$185,000
DUPLEX - Other - Olathe, KS
Property Size1,158 SF
Lot Size13.00 Acres
Price / SF$159.76
Days on Market1
Property Features for 1503 W LOULA Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bathroom 2, Game Room, Basement, Bedroom 1, Bathroom 1, Bedroom 2
- Parking features
- Underground/Basement
- Window features
- Skylight(s)
- Patio and Porch features
- Porch, Deck
- Interior features
- Ceiling Fan(s), Vaulted Ceiling(s)
- Fireplace
- 1
- Basement
- Full, Finished
- Appliances
- Dishwasher, Disposal, Microwave, Built-In Oven, Stainless Steel Appliance(s)
- Standard status
- Active
- APN
- DP68300000-0005
- Size
- 1,158 SF
- Lot size
- 13.00 Acres
Taxes and HOA fees
- Tax Description
- SAXONY W 46.5' LT 5 OLC 290 5
- Tax Annual Amount
- 2156
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Cooling system
- Electric
- Water source
- Public
Building Details
- Year built
- 1986
- Building materials
- Frame
- Roof type
- Composition
- Architectural style
- Other
Listing agency
Keller Williams Realty Partners Inc.
(913) 906-5400
Listed by
Laura Flores
(913) 710-8315
Added: Jul 22 Checked: Jul 22 at 3:06PM
MLS# 2632894
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 split-entry residential income property features 2 bedrooms and 1.5 bathrooms, along with a finished basement that includes a convenient half bath. The interior offers a functional kitchen and ceiling fans throughout. Off the main living area, there is a screened-in sunroom suited for year-round relaxation. An attached front-entry one-car garage adds straightforward everyday convenience, and the home has a brand-new roof.
Located in Olathe, Kansas, the property is described as having easy highway access and being close to shopping and dining.
Offered for sale in its current condition (AS-IS). The seller does not intend to make repairs or provide repair concessions, and buyers are encouraged to conduct any inspections for informational purposes.
Located in Olathe, Kansas, the property is described as having easy highway access and being close to shopping and dining.
Offered for sale in its current condition (AS-IS). The seller does not intend to make repairs or provide repair concessions, and buyers are encouraged to conduct any inspections for informational purposes.
Key Highlights
- 2‑bedroom, 1.5‑bath split‑entry home with a finished basement
- Ceiling fans and vaulted ceilings throughout
- Kitchen with dishwasher, disposal, microwave, and built‑in oven; stainless steel appliances
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.8k | $16.20 |
| − Vacancy | −$1.2k | −$1.00 |
| EGI | $17.6k | $15.20 |
| − OpEx | −$5.3k | −$4.56 |
| NOI | $12.3k | $10.64 |
1,158 SF · lease $16.20/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$176.0K
$154.0K – $205.4K
NOI $12,321 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$153.1K
$134.0K – $178.7K
NOI $10,719 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$342.2K
$299.5K – $399.3K
NOI $23,957 @ 7.0% cap · market cap 12.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Split-entry home with 2 bedrooms, 1.5 baths, a finished basement, screened sunroom, and an attached one-car garage.
Where is this duplex located?
The property is located at 1503 W LOULA Street Olathe, KS.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 2‑bedroom, 1.5‑bath split‑entry home with a finished basement; Ceiling fans and vaulted ceilings throughout; Kitchen with dishwasher, disposal, microwave, and built‑in oven; stainless steel appliances
