Modern
New
For Sale
$215,000
509 Brooklawn Drive, Manhattan, KS 66502
Residential, Manhattan, KS
Property Size1,420 SF
Lot Size0.12 Acres
Price / SF$151.41
Days on Market2
Property Features for 509 Brooklawn Drive
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bathroom 1, Dining Room, Laundry Room, Laundry Room, Bedroom 3, Bedroom 2
Interior features
Eat-in Kitchen, Breakfast Bar, Garage Door Opener(s), Primary Bathroom, Primary Bedroom Walk-In Closet, Pantry
Fencing
Fenced
View
Lake
Elementary school
Northview
Middle school
Eisenhower
High school
Manhattan HS
Elementary school district
Manhattan-Ogden USD 383
Middle school district
Manhattan-Ogden USD 383
High school district
Manhattan-Ogden USD 383
Standard status
Active
Size
1,420 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PRAIRIE LAKE UNIT 1 , Lot 30B
Tax Annual Amount
4136
HOA Fee
$120 Annually
Legal Description
PRAIRIE LAKE UNIT 1 , Lot 30B
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Amenities
fully fenced backyard
Building Details
Year built
2020
Building materials
Wood Siding
Architectural style
Ranch
Listing Agency:
Alliance Realty
(785) 320-2828
Listed By:
Scott Seel · License #00233752
(785) 580-9485
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 12 at 9:06PM
MLS# 20262462
Copyright © 2026 Flint Hills Association 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.
Completed in 2020, this 1,420-square-foot half duplex at 509 Brooklawn Drive offers a ranch-style layout with three bedrooms and two bathrooms. The interior includes an eat-in kitchen, breakfast bar, pantry, dining room, laundry room, and a primary bedroom with a private bathroom and walk-in closet. Natural gas heating and central air provide the main mechanical systems, while wood siding defines the exterior.
The property includes a 0.12-acre lot with a fenced yard and an attached one-car garage equipped with a garage door opener. Located in Manhattan, Kansas, the residence combines newer construction with a practical floor plan and dedicated spaces for daily living, storage, and laundry.
The property includes a 0.12-acre lot with a fenced yard and an attached one-car garage equipped with a garage door opener. Located in Manhattan, Kansas, the residence combines newer construction with a practical floor plan and dedicated spaces for daily living, storage, and laundry.
Key Highlights
- Built in 2020
- 3‑bedroom, 2‑bath half duplex
- 1,420 square feet of interior space
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 - Ranch-style duplex residence with an open layout, private fenced yard, and attached garage.
Where is this duplex located?
The property is located at 509 Brooklawn Drive 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: Built in 2020; 3‑bedroom, 2‑bath half duplex; 1,420 square feet of interior space
