Updated Duplex with
For Sale
$365,000
17620 W 111TH Place, Olathe, KS 66061
Residential, Traditional, Olathe, KS
Property Size1,636 SF
Lot Size0.13 Acres
Price / SF$223.11
Days on Market104
Property Features for 17620 W 111TH Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Basement, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 3
Parking features
Garage
Patio and Porch features
Deck
Interior features
Ceiling Fan(s), Vaulted Ceiling(s), Walk-In Closet(s)
Fireplace
1
Basement
Finished
Appliances
Dishwasher, Disposal, Refrigerator, Free-Standing Electric Oven
Subdivision
Brittany Brooke
Elementary school
Woodland
Middle school
Santa Fe Trail
High school
Olathe Northwest
Elementary school district
Olathe
Middle school district
Olathe
High school district
Olathe
Directions
From I-35, take the 119th St exit in Olathe. Head west on 119th St. Turn right (north) on S Ridgeview Rd. Turn left (west) on W 111th St, then take a quick right onto W 111th Pl. Home is on the left at 17620 W 111th Pl.
Standard status
Active
APN
DP05060000 0003
Size
1,636 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
BRITTANY BROOKE 2ND PLAT LT 3 EX BG SE CR SW 41.74' NW 125.95' TO N/L E 46.58' TO NE CR S 122.98' TO POB OLC 573 3
Tax Annual Amount
3239
Legal Description
BRITTANY BROOKE 2ND PLAT LT 3 EX BG SE CR SW 41.74' NW 125.95' TO N/L E 46.58' TO NE CR S 122.98' TO POB OLC 573 3
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Electric
Water source
Public
Building Details
Year built
2000
Flooring type
Carpet
Building materials
Frame, Vinyl Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
ReeceNichols - Lees Summit · Reece & Nichols
(816) 524-7272
Listed By:
Ashley Coleman
(816) 288-2155
Added: May 13
Changed: Aug 23
Last Checked: Aug 24 at 7:06AM
MLS# 2620485
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 duplex contains 1,636 square feet and was built in 2000. The residence includes three bedrooms, three bathrooms, a basement, vaulted ceilings, walk-in closet space, and a deck. Recent improvements include refreshed bathroom vanities, sinks, and toilets, along with a second laundry area on the main living level. The gas fireplace has been upgraded with new tile and a 72-inch insert, while a newer HVAC system provides forced-air heating and electric cooling.
The property occupies 0.1282 acres in Olathe, Kansas, with public water and public sewer service. Additional features include a garage, composition roofing, vinyl siding, carpet flooring, a dishwasher, disposal, refrigerator, and free-standing electric oven.
The property occupies 0.1282 acres in Olathe, Kansas, with public water and public sewer service. Additional features include a garage, composition roofing, vinyl siding, carpet flooring, a dishwasher, disposal, refrigerator, and free-standing electric oven.
Key Highlights
- Duplex with 1,636 square feet, three bedrooms, three bathrooms, and a basement
- Built in 2000 on a 0.1282‑acre lot in Olathe, KS
- Second laundry area added on the main living level
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
$17,408
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
4.77%
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%
$348,160
$348.2K
Cap Rate 7%
$248,686
$248.7K
Cap Rate 9%
$193,422
$193.4K
Market Conditions
NOI Build-Up for 1,636 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
$26.5K $16.20/SF
− Vacancy
−$1.6K −$1.00/SF
EGI
$24.9K $15.20/SF
− OpEx
−$7.5K −$4.56/SF
NOI
$17.4K $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%
$348,160
Cap Rate 7%
$248,686
Cap Rate 9%
$193,422
Alternative Uses
Best Use
Multifamily LT 5
$248.7K
$217.6K – $290.1K
NOI $17,408 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$216.3K
$189.3K – $252.4K
NOI $15,144 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$483.5K
$423.1K – $564.1K
NOI $33,846 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 66061, KS
66,166
Population
24,744
Households
2.7
Avg Household Size
36
Median Age
45%
College-Educated
93%
High-School Grad
63.3 sq mi
ZIP Area
1,045
Density / Sq Mi
$109,110
Median Household Income
$50,736
Median Earnings
$1,228
Median Rent
$337,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Three-bedroom layout with refreshed bathrooms, two laundry areas, and an updated gas fireplace.
Where is this duplex located?
The property is located at 17620 W 111TH Place Olathe, KS.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Duplex with 1,636 square feet, three bedrooms, three bathrooms, and a basement; Built in 2000 on a 0.1282‑acre lot in Olathe, KS; Second laundry area added on the main living level
