2024 Duplex
For Sale
$285,000
508 W Shawnee Street, Paola, KS 66071
Residential, Traditional, Paola, KS
Property Size2,500 SF
Lot Size0.13 Acres
Price / SF$114
Days on Market171
Property Features for 508 W Shawnee Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3
Interior features
Ceiling Fan(s), Kitchen Island, Painted Cabinets, Pantry, Walk-In Closet(s)
Appliances
Dishwasher, Disposal, Microwave, Electric Range, Stainless Steel Appliance(s)
Elementary school district
Paola
Middle school district
Paola
High school district
Paola
Directions
baptiste to pearl left to shawnee right to home
Subdivision
380 - Miami County, KS
Standard status
Active
APN
999999
Size
2,500 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
3500
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
KW Diamond Partners · Keller Williams Realty
(913) 322-7500
Listed By:
Jennifer Karr · License #SP00221503
(913) 406-3379
Added: Mar 27
Changed: Sep 12
Last Checked: Sep 13 at 5:06AM
MLS# 2609871
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.
Completed in 2024, this 2,500-square-foot duplex property includes four bedrooms and three ensuite bathrooms. Interior features include an open kitchen and living arrangement, kitchen island, pantry, painted cabinets, ceiling fans, and a walk-in closet. The appliance package includes a dishwasher, disposal, microwave, electric range, and stainless steel appliances. A covered porch extends the usable living area, while natural-gas heating and electric cooling serve the home.
The property occupies 0.1263 acres at 508 W Shawnee Street in Paola, Kansas. Public water and public sewer are in place, with frame construction and a composition roof. The home also qualifies for 100% USDA financing for qualified buyers.
The property occupies 0.1263 acres at 508 W Shawnee Street in Paola, Kansas. Public water and public sewer are in place, with frame construction and a composition roof. The home also qualifies for 100% USDA financing for qualified buyers.
Key Highlights
- Built in 2024 with 2,500 square feet of living space
- Four bedrooms and three ensuite bathrooms
- Open kitchen and living arrangement with island and pantry
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
$23,141
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
8.12%
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%
$462,820
$462.8K
Cap Rate 7%
$330,586
$330.6K
Cap Rate 9%
$257,122
$257.1K
Market Conditions
NOI Build-Up for 2,500 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
$45.0K $18.00/SF
− Vacancy
−$2.9K −$1.17/SF
EGI
$42.1K $16.83/SF
− OpEx
−$18.9K −$7.57/SF
NOI
$23.1K $9.26/SF
Area
Miami County, KS
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$462,820
Cap Rate 7%
$330,586
Cap Rate 9%
$257,122
Alternative Uses
Best Use
Multifamily LT 5
$380.0K
$332.5K – $443.4K
NOI $26,601 @ 7.0% cap · market cap 9.33%
Second Best
Apartment 5plus
$330.6K
$289.3K – $385.7K
NOI $23,141 @ 7.0% cap · market cap 8.12%
Theoretical Best
Office B
$491.8K
$430.3K – $573.8K
NOI $34,425 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
Explore this area
Business Placement
Demographics for 66071, KS
12,416
Population
5,415
Households
2.3
Avg Household Size
45
Median Age
30%
College-Educated
94%
High-School Grad
229.3 sq mi
ZIP Area
54
Density / Sq Mi
$82,042
Median Household Income
$48,676
Median Earnings
$1,068
Median Rent
$261,400
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
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Frequently Asked Questions
What type of property is this?
Duplex - Four bedrooms and three ensuite bathrooms provide a spacious residential layout with a covered outdoor living area.
Where is this duplex located?
The property is located at 508 W Shawnee Street Paola, KS.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Built in 2024 with 2,500 square feet of living space; Four bedrooms and three ensuite bathrooms; Open kitchen and living arrangement with island and pantry
