Modern Half
New
For Sale
$215,000
509 Brooklawn Dr, Manhattan, KS 66502
Three-bedroom layout includes an attached garage, fenced yard, and open interior arrangement.
Property Size1,420 SF
Price / SF$151.41
Days on Market2
Property Features for 509 Brooklawn Dr
General Information
Standard status
Active
Size
1,420 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
fully fenced backyard
Building Details
Year Built
2020
Listing Agency:
Midwest Land Group, LLC
(913) 674-8010
Listed By:
Jolene Roberts
(785) 477-8330
Source:
Sellsmhk
Added: Sep 13
Last Checked: Sep 14 at 9:24AM
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 Midwest Land Group, LLC
Investment Insights
Based on property information with market context.
Built in 2020, this 1,420-square-foot half duplex combines a practical layout with modern finishes. The interior includes three bedrooms and two bathrooms, with an open arrangement connecting the main living areas. The primary suite has its own bathroom and a walk-in closet, while the two additional bedrooms can accommodate household members, guests, or office use.
A fully fenced backyard adds private outdoor space, and the attached 1-car garage provides covered parking and convenient entry. The property is located at 509 Brooklawn Dr in Manhattan, Kansas.
A fully fenced backyard adds private outdoor space, and the attached 1-car garage provides covered parking and convenient entry. The property is located at 509 Brooklawn Dr in Manhattan, Kansas.
Key Highlights
- 3‑bedroom, 2‑bath half duplex built in 2020
- 1,420 square feet of living space
- Open floor plan with modern finishes
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
$14,688
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
6.83%
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%
$293,760
$293.8K
Cap Rate 7%
$209,829
$209.8K
Cap Rate 9%
$163,200
$163.2K
Market Conditions
NOI Build-Up for 1,420 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
$21.7K $15.30/SF
− Vacancy
−$743 −$0.52/SF
EGI
$21.0K $14.78/SF
− OpEx
−$6.3K −$4.43/SF
NOI
$14.7K $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 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%
$293,760
Cap Rate 7%
$209,829
Cap Rate 9%
$163,200
Alternative Uses
Best Use
Multifamily LT 5
$209.8K
$183.6K – $244.8K
NOI $14,688 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$193.6K
$169.4K – $225.9K
NOI $13,552 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$325.0K
$284.3K – $379.1K
NOI $22,747 @ 7.0% cap · market cap 10.58%
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
159
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
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 - Three-bedroom layout includes an attached garage, fenced yard, and open interior arrangement.
Where is this duplex located?
The property is located at 509 Brooklawn Dr Manhattan, KS.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: 3‑bedroom, 2‑bath half duplex built in 2020; 1,420 square feet of living space; Open floor plan with modern finishes
