Full Duplex with
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 Market111
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
Bedroom 1, Bedroom 2, Basement, Bathroom 1, Bedroom 3, Bathroom 2
Parking features
Garage, Open
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
Carpet, Wood, Vinyl, Tile
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: Aug 2
Last Checked: Aug 6 at 3:06PM
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.
Full duplex property offered as a complete unit or the option to own just one side. The home includes a basement, fireplace, patio, and parking with a garage and open spaces. Interior finishes include carpet, wood, vinyl, and tile flooring, with heating provided by forced air and electric cooling. Appliances listed include a dishwasher, disposal, refrigerator, and free-standing electric oven.
Constructed in 1964 with board-and-batten siding and a composition roof. The property is served by public water and public sewer. Located at 1510 E Sheridan Street in Olathe, Kansas, with walking distance to an elementary and MidAmerica Nazareen. The listing notes a possible 1031 exchange.
Constructed in 1964 with board-and-batten siding and a composition roof. The property is served by public water and public sewer. Located at 1510 E Sheridan Street in Olathe, Kansas, with walking distance to an elementary and MidAmerica Nazareen. The listing notes a possible 1031 exchange.
Key Highlights
- 0.16‑acre lot
- 1,205 SF duplex
- Built in 1964
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
$12,822
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
5.79%
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%
$256,440
$256.4K
Cap Rate 7%
$183,171
$183.2K
Cap Rate 9%
$142,467
$142.5K
Market Conditions
NOI Build-Up for 1,205 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
$19.5K $16.20/SF
− Vacancy
−$1.2K −$1.00/SF
EGI
$18.3K $15.20/SF
− OpEx
−$5.5K −$4.56/SF
NOI
$12.8K $10.64/SF
Area
Olathe, 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%
$256,440
Cap Rate 7%
$183,171
Cap Rate 9%
$142,467
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 - Duplex home with patio, three bedrooms, basement, garage and open parking, forced-air heat and electric cooling.
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: 0.16‑acre lot; 1,205 SF duplex; Built in 1964
