Residential Duplex in Washburn
For Sale
$210,000
2231 SW Westport PL, Topeka, KS 66614
Three-bedroom, two-bath duplex with enclosed porch and privacy fence.
Property Size1,537 SF
Days on Market174
Property Features for 2231 SW Westport PL
General Information
Standard status
Active
Size
1,537 SF
Property subtype
Duplex
Amenities
Forced - Gas
Central Air
Electric Range
Microwave
Dishwasher
Refrigerator
Yes, Composition
Building Details
Building Size
1,537 SF
Year Built
1984
Listing Agency:
Keller Williams One Legacy Partners LLC
(785) 264-7984
Listed By:
Chen Liang
(785) 264-7984
Source:
Kw
Added: Mar 1
Changed: Aug 21
Last Checked: Aug 21 at 2:30PM
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 Keller Williams One Legacy Partners LLC
Investment Insights
Based on property information with market context.
This half-duplex features three bedrooms and two full bathrooms. Located within the Washburn Rural School District, the property includes an enclosed porch that provides additional living space with natural light. A privacy fence encloses the outdoor area. The basement offers additional living space and storage. All kitchen appliances are included.
Key Highlights
- Located in the highly sought‑after Washburn Rural School District.
- Features 3 bedrooms and 2 full baths.
- Enclosed porch adds extra living space.
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
$11,591
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
5.52%
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%
$231,820
$231.8K
Cap Rate 7%
$165,586
$165.6K
Cap Rate 9%
$128,789
$128.8K
Market Conditions
NOI Build-Up for 1,537 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
$17.5K $11.40/SF
− Vacancy
−$964 −$0.63/SF
EGI
$16.6K $10.77/SF
− OpEx
−$5.0K −$3.23/SF
NOI
$11.6K $7.54/SF
Area
Topeka, KS
Vacancy
5.50%
Lease Rate
$11.40 /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%
$231,820
Cap Rate 7%
$165,586
Cap Rate 9%
$128,789
Alternative Uses
Best Use
Multifamily LT 5
$165.6K
$144.9K – $193.2K
NOI $11,591 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$154.2K
$134.9K – $179.9K
NOI $10,793 @ 7.0% cap · market cap 5.14%
Theoretical Best
Self Storage
$173.4K
$151.7K – $202.3K
NOI $12,136 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
699
Businesses Nearby
Explore this area
Business Placement
Demographics for 66614, KS
31,332
Population
15,273
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
97%
High-School Grad
24.1 sq mi
ZIP Area
1,300
Density / Sq Mi
$70,419
Median Household Income
$47,871
Median Earnings
$995
Median Rent
$181,500
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, two-bath duplex with enclosed porch and privacy fence.
Where is this duplex located?
The property is located at 2231 SW Westport PL Topeka, KS.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Located in the highly sought‑after Washburn Rural School District.; Features 3 bedrooms and 2 full baths.; Enclosed porch adds extra living space.
