Two-Story Duplex with
For Sale
$350,000
16439 Blair Street, Gardner, KS 66030
Residential, Traditional, Gardner, KS
Property Size1,851 SF
Lot Size0.12 Acres
Price / SF$189.09
Days on Market52
Property Features for 16439 Blair Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 3, Bedroom 3, Basement, Laundry Room, Bedroom 1, Dining Room, Bathroom 1, Laundry Room, Bathroom 2, Bedroom 2
Parking features
Open
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Custom Cabinets, Kitchen Island, Painted Cabinets, Pantry, Stained Cabinets, Walk-In Closet(s)
Fireplace
1
Basement
Unfinished, Sump Pump
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Electric Range
Lot features
City Limits, City Lot, Level
Elementary school
Gardner
Middle school
Wheatridge
High school
Gardner Edgerton
Elementary school district
Gardner Edgerton
Middle school district
Gardner Edgerton
High school district
Gardner Edgerton
Directions
I-35 South to Gardner exit 210/175th St. West on 175th to Moonlight Rd. North to University Dr. West to Gretna St. North to Blair St. Home is on the right side of the street.
Subdivision
330 - N=I-435;S=135th;E=Pflumm;W=Moonlight Rd
Standard status
Active
APN
CP94520000 008A
Size
1,851 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
UNIVERSITY PARK ADDITION NO. 12, Lot 8A
Tax Annual Amount
4212
Legal Description
UNIVERSITY PARK ADDITION NO. 12, Lot 8A
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Amenities
granite island
walk-in pantry
huge walk-in shower
sprawling closet
unfinished basement
yard
Building Details
Year built
2018
Flooring type
Vinyl, Carpet
Building materials
Frame, Stone Veneer, Stucco
Roof type
Composition
Architectural style
Other
Listing Agency:
Keller Williams Realty Partners Inc.
(913) 906-5400
Listed By:
Kelli Becks · License #SP00223768
(913) 579-7622
Added: Jul 9
Changed: Aug 19
Last Checked: Aug 29 at 11:06AM
MLS# 2629704
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 two-story duplex property was built in 2018 and provides 1,851 square feet of finished space on a 0.12-acre lot. The interior includes an open arrangement connecting the dining, living, and kitchen areas, along with a granite island, walk-in pantry, three bedrooms, and three bathrooms. A laundry room is located upstairs near the bedrooms. The primary suite includes a large bedroom, walk-in shower, and walk-in closet.
The unfinished basement adds storage or flexible-use space and includes rough-in plumbing for a future bathroom. Exterior features include a patio, open parking, composition roofing, and a low-maintenance yard. Public water and public sewer serve the property, with natural gas heating and electric cooling.
The unfinished basement adds storage or flexible-use space and includes rough-in plumbing for a future bathroom. Exterior features include a patio, open parking, composition roofing, and a low-maintenance yard. Public water and public sewer serve the property, with natural gas heating and electric cooling.
Key Highlights
- 1,851‑square‑foot property on a 0.12‑acre lot
- Built in 2018 with two‑story interior layout
- Three bedrooms and three bathrooms
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
$19,836
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
5.67%
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%
$396,720
$396.7K
Cap Rate 7%
$283,371
$283.4K
Cap Rate 9%
$220,400
$220.4K
Market Conditions
NOI Build-Up for 1,851 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
$30.0K $16.20/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$28.3K $15.31/SF
− OpEx
−$8.5K −$4.59/SF
NOI
$19.8K $10.72/SF
Area
Johnson County, KS
Vacancy
5.50%
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%
$396,720
Cap Rate 7%
$283,371
Cap Rate 9%
$220,400
Alternative Uses
Best Use
Multifamily LT 5
$283.4K
$248.0K – $330.6K
NOI $19,836 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$265.8K
$232.6K – $310.1K
NOI $18,607 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$448.0K
$392.0K – $522.6K
NOI $31,358 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Explore this area
Business Placement
Demographics for 66030, KS
25,164
Population
9,319
Households
2.7
Avg Household Size
33
Median Age
34%
College-Educated
96%
High-School Grad
46.4 sq mi
ZIP Area
542
Density / Sq Mi
$93,891
Median Household Income
$48,661
Median Earnings
$1,306
Median Rent
$281,700
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 - 2018 construction features an open kitchen, granite island, walk-in pantry, and connected dining and living areas.
Where is this duplex located?
The property is located at 16439 Blair Street Gardner, KS.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,851‑square‑foot property on a 0.12‑acre lot; Built in 2018 with two‑story interior layout; Three bedrooms and three bathrooms
