Multifamily
For Sale
$190,000
205 N Mahaffie St, Olathe, KS 66061
Offered for sale in Olathe, Kansas, this property dates to 1963.
Property Size720 SF
Price / SF$263.89
Days on Market9
Property Features for 205 N Mahaffie St
General Information
Standard status
Active
Size
720 SF
Property subtype
Multi-Family
Additional Details
Asking Price
$190,000
Building Details
Year Built
1963
Listing Agency:
Kw Diamond Partners
(913) 349-7580
Listed By:
Van Noy Real Estate
(913) 349-7580
Source:
Kchomelistings
Added: Aug 23
Changed: Aug 30
Last Checked: Aug 31 at 3:21PM
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 Kw Diamond Partners
Investment Insights
Based on property information with market context.
This multifamily property is located at 205 N Mahaffie St in Olathe, Kansas. The property information reports a size of 720 and a 1963 construction year.
The asset is offered for sale within ZIP code 66061. No additional details regarding unit count, layout, renovations, or site features are provided.
The asset is offered for sale within ZIP code 66061. No additional details regarding unit count, layout, renovations, or site features are provided.
Key Highlights
- 205 N Mahaffie St, Olathe, KS 66061
- Reported property size of 720
- Built in 1963
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
$6,665
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
3.51%
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%
$133,300
$133.3K
Cap Rate 7%
$95,214
$95.2K
Cap Rate 9%
$74,056
$74.1K
Market Conditions
NOI Build-Up for 720 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
$13.0K $18.00/SF
− Vacancy
−$842 −$1.17/SF
EGI
$12.1K $16.83/SF
− OpEx
−$5.5K −$7.57/SF
NOI
$6.7K $9.26/SF
Area
Olathe, KS
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$133,300
Cap Rate 7%
$95,214
Cap Rate 9%
$74,056
Alternative Uses
Best Use
Apartment 5plus
$95.2K
$83.3K – $111.1K
NOI $6,665 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$212.8K
$186.2K – $248.3K
NOI $14,895 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
578
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
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Frequently Asked Questions
What type of property is this?
Multifamily property - Offered for sale in Olathe, Kansas, this property dates to 1963.
Where is this multifamily property located?
The property is located at 205 N Mahaffie St Olathe, KS.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: 205 N Mahaffie St, Olathe, KS 66061; Reported property size of 720; Built in 1963
