Duplex with Finished
2709 Allison Ave, Manhattan, KS 66502
For Sale
New
$425,000
Both residences include garage space, interior storage, and a finished lower level with additional rooms.
Property Size1,248 SF
Price / SF$340.54
Days on Market5
Property Features for 2709 Allison Ave
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Public Transit
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
Crossroads Real Estate & Auction LLC
(785) 539-2732
Listed By:
Jolene Roberts · License KS BR00233277
(785) 477-8330
Source:
Sellsmhk
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 6:00AM
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 Crossroads Real Estate & Auction LLC
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Investment Insights
Based on property information with market context.
This duplex contains two residences of 1,248 square feet each, with a finished basement in each unit. The upper floor has two conforming bedrooms and a full bathroom; the main floor includes a kitchen, living area, and another full bathroom. Each basement adds a non-conforming bedroom and a separate closet-equipped room. Both sides also feature substantial indoor storage and an extended garage with shelving.
Updates vary by unit. At #2711, improvements include fresh paint, newer flooring, select replacement windows, and 200-amp electrical service. Unit #2709 has select updated windows and an HVAC system approximately 10 years old. The property is across from Genesis Health Clubs and near Allison Avenue bus service, Fort Riley Boulevard, and I-70.
Updates vary by unit. At #2711, improvements include fresh paint, newer flooring, select replacement windows, and 200-amp electrical service. Unit #2709 has select updated windows and an HVAC system approximately 10 years old. The property is across from Genesis Health Clubs and near Allison Avenue bus service, Fort Riley Boulevard, and I-70.
Key Highlights
- Two duplex units, each with 1,248 square feet
- Each side has two conforming bedrooms plus a non‑conforming basement bedroom
- Two full bathrooms per unit, with a finished basement room in addition to the bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,909
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$258,180
$258.2K
Cap Rate 7%
$184,414
$184.4K
Cap Rate 9%
$143,433
$143.4K
Market Conditions
NOI Build-Up for 1,248 SF
Gross rent
$19.1K $15.30/SF
− Vacancy
−$653 −$0.52/SF
EGI
$18.4K $14.78/SF
− OpEx
−$5.5K −$4.43/SF
NOI
$12.9K $10.34/SF
Area
Riley County, KS
Vacancy
3.42%
Lease Rate
$15.30 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$258,180
Cap Rate 7%
$184,414
Cap Rate 9%
$143,433
Alternative Uses
Best Use
Multifamily LT 5
$184.4K
$161.4K – $215.2K
NOI $12,909 @ 7.0% cap · market cap 3.04%
Second Best
Apartment 5plus
$170.1K
$148.9K – $198.5K
NOI $11,910 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$285.6K
$249.9K – $333.2K
NOI $19,992 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Explore this area
Business Placement
Demographics for 66502, KS
44,384
Population
20,700
Households
2.1
Avg Household Size
28
Median Age
46%
College-Educated
95%
High-School Grad
221.7 sq mi
ZIP Area
200
Density / Sq Mi
$52,363
Median Household Income
$22,091
Median Earnings
$953
Median Rent
$217,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include garage space, interior storage, and a finished lower level with additional rooms.
Where is this duplex located?
The property is located at 2709 Allison Ave Manhattan, KS.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two duplex units, each with 1,248 square feet; Each side has two conforming bedrooms plus a non‑conforming basement bedroom; Two full bathrooms per unit, with a finished basement room in addition to the bedrooms
