Two-Unit Duplex with Updated
For Sale
$399,900
1933-35 Heatherwood Dr, Lawrence, KS 66047
Both residences are vacant, and each includes four bedrooms and a refreshed rear deck.
Property Size2,952 SF
Price / SF$135.47
Days on Market18
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Property Features for 1933-35 Heatherwood Dr
General Information
Standard status
Active
Size
2,952 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 4BR
Multifamily Units
2
Amenities
updated back deck
common room
Building Details
Year Built
1977
Listing Agency:
STEPHENS REAL ESTATE, INC
Listed By:
DAVID DUNN
(785) 760-1236
Source:
Stoneandstory
Added: Sep 28
Changed: Oct 2
Last Checked: Oct 7 at 2:52PM
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 STEPHENS REAL ESTATE, INC
Investment Insights
Based on property information with market context.
This duplex contains two four-bedroom residences, with a shared basement room separating the units. Each side has an updated rear deck. The building totals 2,952 square feet and was constructed in 1977.
Both units are currently vacant and have recent rental history, allowing a new owner to establish occupancy under new leases.
Both units are currently vacant and have recent rental history, allowing a new owner to establish occupancy under new leases.
Key Highlights
- Two residences, each with four bedrooms
- 2,952‑square‑foot building constructed in 1977
- Basement includes a large common room separating the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,291
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$585,820
$585.8K
Cap Rate 7%
$418,443
$418.4K
Cap Rate 9%
$325,456
$325.5K
Market Conditions
NOI Build-Up for 2,952 SF
Gross rent
$44.3K $15.00/SF
− Vacancy
−$2.4K −$0.83/SF
EGI
$41.8K $14.17/SF
− OpEx
−$12.6K −$4.25/SF
NOI
$29.3K $9.92/SF
Area
Douglas County, KS
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$585,820
Cap Rate 7%
$418,443
Cap Rate 9%
$325,456
Alternative Uses
Best Use
Multifamily LT 5
$418.4K
$366.1K – $488.2K
NOI $29,291 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$392.8K
$343.7K – $458.3K
NOI $27,495 @ 7.0% cap · market cap 6.88%
Theoretical Best
Retail
$868.7K
$760.1K – $1.01M
NOI $60,808 @ 7.0% cap · market cap 15.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
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Business Placement
Demographics for 66047, KS
19,396
Population
9,368
Households
2.1
Avg Household Size
35
Median Age
55%
College-Educated
97%
High-School Grad
58.2 sq mi
ZIP Area
333
Density / Sq Mi
$61,491
Median Household Income
$33,082
Median Earnings
$1,107
Median Rent
$303,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are vacant, and each includes four bedrooms and a refreshed rear deck.
Where is this duplex located?
The property is located at 1933-35 Heatherwood Dr Lawrence, KS.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two residences, each with four bedrooms; 2,952‑square‑foot building constructed in 1977; Basement includes a large common room separating the units
