Updated Ranch
For Sale
$319,950
2035 Rock Creek Court, Tonganoxie, KS 66086
Ranch-style duplex with refreshed interiors, a finished walkout basement, outdoor spaces, and a two-car garage.
Property Size2,148 SF
Days on Market27
Property Features for 2035 Rock Creek Court
General Information
Standard status
Active
Size
2,148 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
5BR/3BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,638
Amenities
open floor plan
deck
patio
walkout basement
Building Details
Building Size
2,148 SF
Year Built
2002
Stories
1
Construction
ranch
Listing Agency:
Lynch Real Estate
(913) 369-3000
Listed By:
Dan Lynch · License #00053988
(913) 369-3000
Source:
Heartland-realty
Added: Aug 5
Changed: Aug 30
Last Checked: Aug 30 at 5:33PM
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 Lynch Real Estate
Investment Insights
Based on property information with market context.
Built in 2002, this updated ranch-style duplex provides a five-bedroom, three-bathroom layout with an open connection between the living room, kitchen, and dining area. The main level includes a primary suite with a walk-in closet and private bath, plus an additional bedroom and full bathroom. A finished walkout basement adds a family room, three more bedrooms, and another full bathroom.
Outdoor features include a new deck and patio positioned toward the cul-de-sac setting. The property also includes a two-car garage. Located at 2035 Rock Creek Court in Tonganoxie, the home offers access to both Kansas City and Lawrence.
Outdoor features include a new deck and patio positioned toward the cul-de-sac setting. The property also includes a two-car garage. Located at 2035 Rock Creek Court in Tonganoxie, the home offers access to both Kansas City and Lawrence.
Key Highlights
- 5 bedrooms and 3 full baths
- Finished walkout basement with family room and 3 bedrooms
- Main‑level primary suite with walk‑in closet and private bath
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
$22,855
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
7.14%
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%
$457,100
$457.1K
Cap Rate 7%
$326,500
$326.5K
Cap Rate 9%
$253,944
$253.9K
Market Conditions
NOI Build-Up for 2,148 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
$34.8K $16.20/SF
− Vacancy
−$2.1K −$1.00/SF
EGI
$32.7K $15.20/SF
− OpEx
−$9.8K −$4.56/SF
NOI
$22.9K $10.64/SF
Area
Leavenworth County, 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%
$457,100
Cap Rate 7%
$326,500
Cap Rate 9%
$253,944
Alternative Uses
Best Use
Multifamily LT 5
$326.5K
$285.7K – $380.9K
NOI $22,855 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$284.0K
$248.5K – $331.4K
NOI $19,883 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office B
$422.5K
$369.7K – $493.0K
NOI $29,578 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Explore this area
Business Placement
Demographics for 66086, KS
10,662
Population
4,205
Households
2.5
Avg Household Size
40
Median Age
39%
College-Educated
96%
High-School Grad
95.3 sq mi
ZIP Area
112
Density / Sq Mi
$94,466
Median Household Income
$54,984
Median Earnings
$1,165
Median Rent
$288,800
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 - Ranch-style duplex with refreshed interiors, a finished walkout basement, outdoor spaces, and a two-car garage.
Where is this duplex located?
The property is located at 2035 Rock Creek Court Tonganoxie, KS.
What is the asking price?
The asking price for this property is $319,950.
What are key features of this property?
This property features: 5 bedrooms and 3 full baths; Finished walkout basement with family room and 3 bedrooms; Main‑level primary suite with walk‑in closet and private bath
