Duplex with Option to Buy One
For Sale
$221,500
Pending
1510 E Sheridan Street, Olathe, KS 66062
DUPLEX - Other - Olathe, KS
Property Size1,205 SF
Lot Size0.16 Acres
Days on Market104
Property Features for 1510 E Sheridan Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Basement, Bedroom 1, Bedroom 2, Bedroom 3
Parking features
Open, Garage
Patio and Porch features
Patio
Fireplace
1
Basement
Concrete
Appliances
Dishwasher, Disposal, Refrigerator, Free-Standing Electric Oven
Subdivision
Havencroft
Elementary school district
Olathe
Middle school district
Olathe
High school district
Olathe
Directions
From 135th St Head To S Mur-Len Road - turn South to E. Sheridan St(143rd St) - Head West to 1510 - property on the right
Standard status
Pending
APN
0460893103010019000
Size
1,205 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
HAVENCROFT SE 70' LT 5 & LT 6 EX SE 62' BLK 8 EX BG NLY CR OF SE 70' LT 5 SE 47.58' SW 146.71' CUR RT 42.79' TO WLY CR OF SE 70' LT 5 NE 141.31' TO POB OLC
Tax Annual Amount
2453
Legal Description
HAVENCROFT SE 70' LT 5 & LT 6 EX SE 62' BLK 8 EX BG NLY CR OF SE 70' LT 5 SE 47.58' SW 146.71' CUR RT 42.79' TO WLY CR OF SE 70' LT 5 NE 141.31' TO POB OLC
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Electric
Water source
Public
Building Details
Year built
1964
Flooring type
Wood, Tile, Vinyl, Carpet
Building materials
Board & Batten Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
Platinum Realty LLC
(888) 220-0988
Listed By:
Tim Poolman
(913) 433-8086
Added: Apr 18
Changed: Jul 28
Last Checked: Jul 30 at 8:06PM
MLS# 2615137
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 offering is a duplex that can be purchased as a full duplex or as a single side. The listing notes that the asking price is per side, with a related MLS# 2615123 unit referenced for the individual side option. The property sits on a 0.16-acre lot and is listed with a total building size of 1,205 square feet.
The duplex is located at 1510 E Sheridan Street in Olathe, Kansas (66062), in Johnson County. The public remarks state it is within walking distance to an elementary school and MidAmerica Nazareen. One of the owners is also identified as a licensed KS/MO Realtor.
For investors and owner-occupants seeking flexibility, the ability to buy the entire duplex or just one side may help align the purchase with your preferred occupancy and operating plan. The listing also notes possible 1031 exchange considerations, which may be relevant for qualified investors. As presented, this is a straightforward residential income opportunity with an option to acquire either the full property or a single unit side.
The duplex is located at 1510 E Sheridan Street in Olathe, Kansas (66062), in Johnson County. The public remarks state it is within walking distance to an elementary school and MidAmerica Nazareen. One of the owners is also identified as a licensed KS/MO Realtor.
For investors and owner-occupants seeking flexibility, the ability to buy the entire duplex or just one side may help align the purchase with your preferred occupancy and operating plan. The listing also notes possible 1031 exchange considerations, which may be relevant for qualified investors. As presented, this is a straightforward residential income opportunity with an option to acquire either the full property or a single unit side.
Key Highlights
- Full duplex with option to buy one side (asking price listed per side), MLS# 2615123
- Year built 1964 with board & batten siding and composition roof
- Includes 3 bedrooms and 2 bathrooms plus a basement
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 | $19.5k | $16.20 |
| − Vacancy | −$1.2k | −$1.00 |
| EGI | $18.3k | $15.20 |
| − OpEx | −$5.5k | −$4.56 |
| NOI | $12.8k | $10.64 |
1,205 SF · lease $16.20/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$183.2K
$160.3K – $213.7K
NOI $12,822 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$159.3K
$139.4K – $185.9K
NOI $11,154 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$356.1K
$311.6K – $415.5K
NOI $24,929 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Explore this area
Business Placement
Demographics for 66062, KS
77,553
Population
29,350
Households
2.6
Avg Household Size
36
Median Age
53%
College-Educated
96%
High-School Grad
42.1 sq mi
ZIP Area
1,842
Density / Sq Mi
$116,248
Median Household Income
$55,718
Median Earnings
$1,349
Median Rent
$342,700
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 - Own a full duplex or purchase one side, a residential income property in Olathe.
Where is this duplex located?
The property is located at 1510 E Sheridan Street Olathe, KS.
What is the asking price?
The asking price for this property is $221,500.
What are key features of this property?
This property features: Full duplex with option to buy one side (asking price listed per side), MLS# 2615123; Year built 1964 with board & batten siding and composition roof; Includes 3 bedrooms and 2 bathrooms plus a basement
