Remodeled Two-Unit
New
For Sale
$290,000
Pending
227 S Derby Ave, Derby, KS 67037
Separate entrances and meters give each residence independent access and utility service.
Property Size2,872 SF
Days on Market5
Property Features for 227 S Derby Ave
General Information
Standard status
Pending
Size
2,872 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,740
Listing Agency:
Real Broker, LLC
(316) 559-5325
Listed By:
Edna Martinez
(316) 559-5325
Source:
Exprealty
Added: Aug 2
Changed: Aug 6
Last Checked: Aug 6 at 1:54AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This 2,872-square-foot duplex includes two separately metered residences with private entrances. The 3-bedroom, 2-bath unit is located at 231 S Derby Ave, while the 2-bedroom, 1-bath unit occupies 227 S Derby Ave. The smaller residence also includes an unfinished basement for storage or future use.
Recent improvements include luxury vinyl plank flooring in the main living areas, new bedroom carpet, fresh interior paint, updated fixtures, and modern finish selections. Each unit has a covered carport, and the property’s large driveway provides additional off-street parking. The configuration supports leasing both residences or occupying one unit while using the other for rental income.
Recent improvements include luxury vinyl plank flooring in the main living areas, new bedroom carpet, fresh interior paint, updated fixtures, and modern finish selections. Each unit has a covered carport, and the property’s large driveway provides additional off-street parking. The configuration supports leasing both residences or occupying one unit while using the other for rental income.
Key Highlights
- 2,872 SF duplex with two separately metered units
- 3‑bedroom, 2‑bath unit at 231 S Derby Ave
- 2‑bedroom, 1‑bath unit at 227 S Derby Ave
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.2k | $12.60 |
| − Vacancy | −$1.9k | −$0.66 |
| EGI | $34.3k | $11.94 |
| − OpEx | −$10.3k | −$3.58 |
| NOI | $24.0k | $8.36 |
2,872 SF · lease $12.60/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$343.1K
$300.2K – $400.2K
NOI $24,014 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$316.4K
$276.9K – $369.2K
NOI $22,149 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$598.6K
$523.8K – $698.4K
NOI $41,902 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
424
Businesses Nearby
Explore this area
Business Placement
Demographics for 67037, KS
30,005
Population
12,680
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
96%
High-School Grad
53.6 sq mi
ZIP Area
560
Density / Sq Mi
$84,666
Median Household Income
$46,305
Median Earnings
$1,085
Median Rent
$227,200
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 - Separate entrances and meters give each residence independent access and utility service.
Where is this duplex located?
The property is located at 227 S Derby Ave Derby, KS.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 2,872 SF duplex with two separately metered units; 3‑bedroom, 2‑bath unit at 231 S Derby Ave; 2‑bedroom, 1‑bath unit at 227 S Derby Ave
