Updated Duplex
New
For Sale
$275,000
513 S Cardinal Drive, Olathe, KS 66062
Residential, Traditional, Olathe, KS
Property Size1,909 SF
Lot Size0.12 Acres
Price / SF$144.05
Days on Market3
Property Features for 513 S Cardinal Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Basement, Family Room, Bedroom 2, Bathroom 2, Bedroom 3
Window features
Storm Window(s)
Patio and Porch features
Porch
Fencing
Privacy
Basement
Finished, Concrete, Sump Pump
Appliances
Dishwasher, Disposal, Microwave, Electric Range, Free-Standing Electric Oven
Subdivision
Havencroft North
Lot features
City Lot
Elementary school
Tomahawk
Middle school
Indian Trail
High school
Olathe North
Elementary school district
Olathe
Middle school district
Olathe
High school district
Olathe
Directions
I-35 east to Santa Fe to Lindenwood. South on Lindenwood to Cedar. West on Cedar to Cardinal Drive. South to home on west side.
Standard status
Active
APN
DP30000014-0013
Size
1,909 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
HAVENCROFT N 1/2 LT 13 BLK 14 OLC 634 14 13
Tax Annual Amount
2415
Legal Description
HAVENCROFT N 1/2 LT 13 BLK 14 OLC 634 14 13
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
1969
Flooring type
Tile, Carpet, Vinyl
Building materials
Vinyl Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
Platinum Realty LLC
(888) 220-0988
Listed By:
Amy Bible · License #SP00231630
(913) 548-6821
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 12 at 10:06PM
MLS# 2641582
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.
This duplex property in Olathe includes 1,909 square feet of finished space on a 0.1239-acre lot. The interior has three bedrooms, two full bathrooms, a family room, kitchen, basement, and eating area. Recent interior work includes new paint, carpet, luxury vinyl plank flooring, a bathroom vanity, butcher block countertops, and recessed lighting. A dishwasher, washer, and dryer are included.
The 1969 property has vinyl siding, composition roofing, natural-gas heat, electric cooling, public water, and public sewer. Windows were replaced within the last three years, the HVAC system was recently serviced, and new gutters were installed in 2023. A repaired and cleaned sewer line and privacy fencing add to the documented property improvements.
The 1969 property has vinyl siding, composition roofing, natural-gas heat, electric cooling, public water, and public sewer. Windows were replaced within the last three years, the HVAC system was recently serviced, and new gutters were installed in 2023. A repaired and cleaned sewer line and privacy fencing add to the documented property improvements.
Key Highlights
- 1,909 square feet of finished space on a 0.1239‑acre lot
- Three bedrooms and two full bathrooms
- Finished basement with recessed lighting and luxury vinyl plank flooring
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
$20,312
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
7.39%
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%
$406,240
$406.2K
Cap Rate 7%
$290,171
$290.2K
Cap Rate 9%
$225,689
$225.7K
Market Conditions
NOI Build-Up for 1,909 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
$30.9K $16.20/SF
− Vacancy
−$1.9K −$1.00/SF
EGI
$29.0K $15.20/SF
− OpEx
−$8.7K −$4.56/SF
NOI
$20.3K $10.64/SF
Area
Olathe, 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%
$406,240
Cap Rate 7%
$290,171
Cap Rate 9%
$225,689
Alternative Uses
Best Use
Multifamily LT 5
$290.2K
$253.9K – $338.5K
NOI $20,312 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$252.4K
$220.9K – $294.5K
NOI $17,671 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$564.2K
$493.7K – $658.2K
NOI $39,493 @ 7.0% cap · market cap 14.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,021
Businesses Nearby
Explore this area
Business Placement
Demographics for 66062, KS
77,553
Population
29,350
Households
2.6
Avg Household Size
36
Median Age
53%
College-Educated
96%
High-School Grad
42.1 sq mi
ZIP Area
1,842
Density / Sq Mi
$116,248
Median Household Income
$55,718
Median Earnings
$1,349
Median Rent
$342,700
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 - Finished interior space includes refreshed living areas, multiple bedrooms, and two full bathrooms.
Where is this duplex located?
The property is located at 513 S Cardinal Drive Olathe, KS.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,909 square feet of finished space on a 0.1239‑acre lot; Three bedrooms and two full bathrooms; Finished basement with recessed lighting and luxury vinyl plank flooring
