Duplex with Updated
1933-35 Heatherwood Drive, Lawrence, KS 66047
For Sale
$399,900
Residential Income, Lawrence, KS
Property Size2,952 SF
Price / SF$135.47
Days on Market47
Property Features for 1933-35 Heatherwood Drive
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Interior features
Basement
Subdivision
Standard status
Size
Taxes and HOA fees
Tax Year
Tax Description
Legal Description
Utilities
Sewer type
Water source
Amenities
updated back deck
common room
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Listing Agency:
STEPHENS REAL ESTATE, INC
(785) 841-4500
Listed By:
DAVID DUNN
(785) 760-1236
Added: Sep 25
Changed: Oct 25
Last Checked: Nov 10 at 5:06AM
MLS# 166552
Copyright © 2026 Lawrence Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,952-square-foot duplex was built in 1977 and contains two four-bedroom units. A large common room in the basement sits between the residences. Each side also has an updated rear deck.
The property has a frame structure with wood siding, a composition roof, public water, and public sewer. Both units are currently vacant and have recent rental histories.
The property has a frame structure with wood siding, a composition roof, public water, and public sewer. Both units are currently vacant and have recent rental histories.
Key Highlights
- Two units, each with four bedrooms
- 2,952 square feet; built in 1977
- Large shared basement common room between 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.
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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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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has four bedrooms, and a shared basement room connects the two sides.
Where is this duplex located?
The property is located at 1933-35 Heatherwood Drive 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 units, each with four bedrooms; 2,952 square feet; built in 1977; Large shared basement common room between the units
