Two-Story Duplex with
New
For Sale
$350,000
16439 Blair Street, Gardner, KS 66030
2018-built income property with open living areas, an unfinished basement, and convenient access to I-35, shops, and dining.
Property Size1,851 SF
Price / SF$189.09
Days on Market2
Property Features for 16439 Blair Street
General Information
Standard status
Active
Size
1,851 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,212
Building Details
Building Size
1,851 SF
Year Built
2018
Stories
2
Listing Agency:
Keller Williams Realty Partners Inc.
(913) 906-5400
Listed By:
Kelli Becks · License #SP00223768
(913) 906-5400
Source:
Coloniallistings
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 6:27AM
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 Keller Williams Realty Partners Inc.
Investment Insights
Based on property information with market context.
This 1,851-square-foot duplex was built in 2018 and spans two stories. The main level features an open arrangement connecting the kitchen, dining, and living areas, along with a granite island and walk-in pantry. Bedrooms and the laundry room are located upstairs, including a primary suite with a large bedroom, walk-in shower, and walk-in closet.
An unfinished basement provides additional storage or activity space and includes rough-in plumbing for a future bathroom. The property also offers a low-maintenance yard and back patio. There is no HOA, and the address is situated minutes from I-35, local shopping, restaurants, and schools.
An unfinished basement provides additional storage or activity space and includes rough-in plumbing for a future bathroom. The property also offers a low-maintenance yard and back patio. There is no HOA, and the address is situated minutes from I-35, local shopping, restaurants, and schools.
Key Highlights
- 1,851‑square‑foot duplex built in 2018
- Two‑story layout with open kitchen, dining, and living areas
- Granite kitchen island and walk‑in pantry
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-built income property with open living areas, an unfinished basement, and convenient access to I-35, shops, and dining.
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 duplex built in 2018; Two‑story layout with open kitchen, dining, and living areas; Granite kitchen island and walk‑in pantry
