Four-Bedroom
New
For Sale
$350,000
2911 & 2913 Belle Haven Drive, Lawrence, KS 66046
MULTI_FAMILY - Lawrence, KS
Property Size1,888 SF
Price / SF$185.38
Days on Market5
Property Features for 2911 & 2913 Belle Haven Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-3
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 7, Bedroom 5, Bedroom 3, Bedroom 8, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 6
Interior features
High Speed Internet
Basement
Crawl Space, Finished, Partial
Subdivision
Indian Hills
Elementary school
Cordley
Middle school
Billy Mills
High school
Lawrence
Standard status
Active
APN
U16612 & U16612A
Size
1,888 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Please see Offer Instructions
Legal Description
Please see Offer Instructions
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
fenced backyard
W/D hookups
Building Details
Year built
1967
Number of units
2
Building materials
Frame
Roof type
Composition
Listing Agency:
STEPHENS REAL ESTATE, INC
(785) 841-4500
Listed By:
ZACH DODSON · License #SP00236280
(785) 220-2237
Added: Aug 7
Changed: Aug 9
Last Checked: Aug 11 at 9:06AM
MLS# 166233
Copyright © 2026 Lawrence Board of Realtors. 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 1,888-square-foot duplex contains two four-bedroom units, each with its own tax identification number. The property has a frame structure, composition roof, public water, and public sewer. Both units include washer/dryer hookups, while the fenced backyard provides shared outdoor space. The property was built in 1967 and is zoned R-3.
The 2913 unit has received recent interior improvements, including LVP flooring, fresh paint, updated kitchen appliances, and refreshed bathrooms. Located in Lawrence’s Indian Hills neighborhood, the duplex offers access to 31st Street, K-10 Highway, and S Iowa Street.
The 2913 unit has received recent interior improvements, including LVP flooring, fresh paint, updated kitchen appliances, and refreshed bathrooms. Located in Lawrence’s Indian Hills neighborhood, the duplex offers access to 31st Street, K-10 Highway, and S Iowa Street.
Key Highlights
- Two‑unit duplex with 4 bedrooms in each unit
- 1,888 SF property built in 1967
- Separate tax identification number for each unit
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
$18,734
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
5.35%
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%
$374,680
$374.7K
Cap Rate 7%
$267,629
$267.6K
Cap Rate 9%
$208,156
$208.2K
Market Conditions
NOI Build-Up for 1,888 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
$28.3K $15.00/SF
− Vacancy
−$1.6K −$0.83/SF
EGI
$26.8K $14.17/SF
− OpEx
−$8.0K −$4.25/SF
NOI
$18.7K $9.92/SF
Area
Douglas County, KS
Vacancy
5.50%
Lease Rate
$15.00 /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%
$374,680
Cap Rate 7%
$267,629
Cap Rate 9%
$208,156
Alternative Uses
Best Use
Multifamily LT 5
$267.6K
$234.2K – $312.2K
NOI $18,734 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$251.2K
$219.8K – $293.1K
NOI $17,585 @ 7.0% cap · market cap 5.02%
Theoretical Best
Retail
$555.6K
$486.1K – $648.2K
NOI $38,891 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Explore this area
Business Placement
Demographics for 66046, KS
19,903
Population
9,452
Households
2.1
Avg Household Size
31
Median Age
46%
College-Educated
96%
High-School Grad
40.8 sq mi
ZIP Area
488
Density / Sq Mi
$58,798
Median Household Income
$31,546
Median Earnings
$937
Median Rent
$217,100
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 - Two four-bedroom units feature separate tax IDs, fenced outdoor space, and washer/dryer hookups.
Where is this duplex located?
The property is located at 2911 & 2913 Belle Haven Drive Lawrence, KS.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex with 4 bedrooms in each unit; 1,888 SF property built in 1967; Separate tax identification number for each unit
