Remodeled Duplex with Two Private
New
For Sale
$290,000
Pending
227 S Derby Ave, Derby, KS 67037
MULTI_FAMILY - Other - Derby, KS
Property Size2,872 SF
Lot Size0.20 Acres
Days on Market5
Property Features for 227 S Derby Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Parking features
Covered
Basement
Unfinished
Appliances
Dishwasher
Subdivision
WATERS ADDITION
Elementary school
Swaney
Middle school
Derby
High school
Derby
Elementary school district
Derby School District (USD 260)
Middle school district
Derby School District (USD 260)
High school district
Derby School District (USD 260)
Directions
Derby Ave & Kay St: North on Derby Ave- duplex is the corner lot
Standard status
Pending
APN
00300454
Size
2,872 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
E 75 FT RES. D WATER'S ADD.
Tax Annual Amount
3740
Legal Description
E 75 FT RES. D WATER'S ADD.
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Electric
Water source
Public
Building Details
Year built
1959
Number of units
2
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Edna Martinez
(316) 559-5325
Added: Aug 2
Changed: Aug 4
Last Checked: Aug 6 at 6:06AM
MLS# 676866
Copyright © 2026 South Central Kansas MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully remodeled duplex features two separately metered units with private entrances at 227 S Derby Ave and 231 S Derby Ave. The 3-bedroom, 2-bath unit includes an unfinished basement for additional storage or future potential. The 2-bedroom, 1-bath unit also benefits from updated interior finishes.
Updates include luxury vinyl plank flooring in the main living areas, new carpet in the bedrooms, fresh interior paint, and updated fixtures with modern finishes throughout. Heating is forced air and cooling is electric, and the roof is composition. Each unit has its own covered carport space, with a large driveway providing additional off-street parking.
Built in 1959, the property sits on a 0.2014-acre lot and is served by public water, with natural gas available. Appliances include a dishwasher.
Updates include luxury vinyl plank flooring in the main living areas, new carpet in the bedrooms, fresh interior paint, and updated fixtures with modern finishes throughout. Heating is forced air and cooling is electric, and the roof is composition. Each unit has its own covered carport space, with a large driveway providing additional off-street parking.
Built in 1959, the property sits on a 0.2014-acre lot and is served by public water, with natural gas available. Appliances include a dishwasher.
Key Highlights
- Two separately metered units with private entrances
- 3‑bedroom, 2‑bath unit plus unfinished basement for storage or future potential
- 2‑bedroom, 1‑bath unit updated with modern finishes
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
Property Profile
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 - Fully remodeled duplex with two separately metered units, each with private entry and covered carport parking.
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: Two separately metered units with private entrances; 3‑bedroom, 2‑bath unit plus unfinished basement for storage or future potential; 2‑bedroom, 1‑bath unit updated with modern finishes
