Under-Construction
New
For Sale
$540,000
Pending
24141 95th Street, Lenexa, KS 66227
Residential, Traditional, Lenexa, KS
Property Size2,080 SF
Days on Market2
Property Features for 24141 95th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Dining Room, Basement, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 3, Game Room, Bedroom 2, Bathroom 3
Parking features
Driveway
Patio and Porch features
Deck
Interior features
Ceiling Fan(s), Kitchen Island, Painted Cabinets, Pantry, Walk-In Closet(s)
Fireplace
1
Basement
Finished
Appliances
Cooktop, Dishwasher, Disposal, Exhaust Fan, Humidifier, Microwave, Gas Range, Stainless Steel Appliance(s)
Subdivision
Wheatley Point
Lot features
Adjoin Greenspace, City Lot, Cul-De-Sac, Sprinkler- In Ground
Elementary school
Canyon Creek
Middle school
Prairie Trail
High school
Olathe Northwest
Elementary school district
Olathe
Middle school district
Olathe
High school district
Olathe
Directions
K10 highway to Prairie Star Pkwy exit, east to McCormack, into subdivision on left.
Standard status
Pending
APN
IP84450000 0006
Size
2,080 SF
Taxes and HOA fees
HOA Fee
$200 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
2026
Flooring type
Wood, Tile, Carpet
Building materials
Stucco & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Realty Executives · Realty Executives International
(913) 642-4888
Listed By:
Mandy Menghini
(913) 302-5899
Added: Sep 16
Last Checked: Sep 17 at 8:06AM
MLS# 2642554
Copyright © 2026 Heartland Multiple Listing Service. 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 duplex is under construction with 2,080 square feet of property size and a planned 2026 completion year. The layout includes three bedrooms, three bathrooms, a dining room, basement, and game room. Interior features include a kitchen island, pantry, painted cabinets, walk-in closet, and ceiling fan. A fireplace, deck, driveway parking, wood, tile, and carpet flooring are also included.
Located at 24141 95th Street in Lenexa, Kansas, the property will have public water and public sewer service. Construction materials are stucco and frame, with a composition roof, natural gas heating, and electric cooling. The appliance package includes a gas range, cooktop, dishwasher, disposal, microwave, exhaust fan, humidifier, and stainless steel appliances.
Located at 24141 95th Street in Lenexa, Kansas, the property will have public water and public sewer service. Construction materials are stucco and frame, with a composition roof, natural gas heating, and electric cooling. The appliance package includes a gas range, cooktop, dishwasher, disposal, microwave, exhaust fan, humidifier, and stainless steel appliances.
Key Highlights
- Duplex under construction with 2,080 square feet of property size
- Three bedrooms and three bathrooms
- Basement and game room included
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
$22,290
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
4.13%
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%
$445,800
$445.8K
Cap Rate 7%
$318,429
$318.4K
Cap Rate 9%
$247,667
$247.7K
Market Conditions
NOI Build-Up for 2,080 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
$33.7K $16.20/SF
− Vacancy
−$1.9K −$0.89/SF
EGI
$31.8K $15.31/SF
− OpEx
−$9.6K −$4.59/SF
NOI
$22.3K $10.72/SF
Area
Johnson County, KS
Vacancy
5.50%
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%
$445,800
Cap Rate 7%
$318,429
Cap Rate 9%
$247,667
Alternative Uses
Best Use
Multifamily LT 5
$318.4K
$278.6K – $371.5K
NOI $22,290 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$298.7K
$261.4K – $348.5K
NOI $20,909 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$503.4K
$440.5K – $587.3K
NOI $35,238 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
Explore this area
Business Placement
Demographics for 66227, KS
8,476
Population
3,431
Households
2.5
Avg Household Size
41
Median Age
68%
College-Educated
100%
High-School Grad
13.3 sq mi
ZIP Area
637
Density / Sq Mi
$132,532
Median Household Income
$71,027
Median Earnings
$1,989
Median Rent
$423,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Two-level residential income property with a deck, basement, game room, and public utilities.
Where is this duplex located?
The property is located at 24141 95th Street Lenexa, KS.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Duplex under construction with 2,080 square feet of property size; Three bedrooms and three bathrooms; Basement and game room included
