2024-Built Duplex with Covered
New
For Sale
$290,000
508 W Shawnee Street, Paola, KS 66071
Newer construction features an open kitchen, living, and dining arrangement with three ensuite bathrooms.
Property Size2,500 SF
Price / SF$116
Days on Market2
Property Features for 508 W Shawnee Street
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Duplex
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,500
Amenities
covered porch
Building Details
Building Size
2,500 SF
Year Built
2024
Stories
2
Listing Agency:
KW Diamond Partners
(913) 322-7500
Listed By:
Jennifer Karr · License #SP00221503
(913) 322-7500
Source:
Heartland-realty
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 2:26PM
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 KW Diamond Partners
Investment Insights
Based on property information with market context.
Built in 2024, this 2,500-square-foot duplex includes four bedrooms and three ensuite bathrooms. The interior combines an open kitchen with connected living and dining areas, while high-end finishes contribute to the property's completed presentation. A private primary suite and additional ensuite bedrooms provide a defined bedroom layout, and the covered porch extends the usable living area outdoors.
The property is located at 508 W Shawnee Street in Paola, Kansas, within ZIP code 66071. It is described as move-in ready and may qualify for 100% USDA financing for eligible buyers.
The property is located at 508 W Shawnee Street in Paola, Kansas, within ZIP code 66071. It is described as move-in ready and may qualify for 100% USDA financing for eligible buyers.
Key Highlights
- 2024 construction with 2,500 square feet of living space
- Four‑bedroom layout with three ensuite bathrooms
- Open kitchen, living, and dining areas
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
$26,601
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
9.17%
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%
$532,020
$532.0K
Cap Rate 7%
$380,014
$380.0K
Cap Rate 9%
$295,567
$295.6K
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
$40.5K $16.20/SF
− Vacancy
−$2.5K −$1.00/SF
EGI
$38.0K $15.20/SF
− OpEx
−$11.4K −$4.56/SF
NOI
$26.6K $10.64/SF
Area
Miami County, KS
Vacancy
6.17%
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%
$532,020
Cap Rate 7%
$380,014
Cap Rate 9%
$295,567
Alternative Uses
Best Use
Multifamily LT 5
$380.0K
$332.5K – $443.4K
NOI $26,601 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$330.6K
$289.3K – $385.7K
NOI $23,141 @ 7.0% cap · market cap 7.98%
Theoretical Best
Office B
$491.8K
$430.3K – $573.8K
NOI $34,425 @ 7.0% cap · market cap 11.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Newer construction features an open kitchen, living, and dining arrangement with three ensuite bathrooms.
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 $290,000.
What are key features of this property?
This property features: 2024 construction with 2,500 square feet of living space; Four‑bedroom layout with three ensuite bathrooms; Open kitchen, living, and dining areas
