Two-Story Multifamily
For Sale
$260,000
6241 Rene St, Shawnee, KS 66203
Open living, dining, and kitchen areas support comfortable everyday use and entertaining.
Property Size1,277 SF
Price / SF$203.60
Days on Market38
Property Features for 6241 Rene St
General Information
Standard status
Active
Size
1,277 SF
Property subtype
Multi-Family
Building Details
Year Built
1984
Listing Agency:
Keller Williams Realty Partners Inc.
(816) 268-4033
Listed By:
Ask Cathy · License #2000156181
(816) 268-4033
Source:
Askcathy
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 26 at 12:30PM
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 Keller Williams Realty Partners Inc.
Investment Insights
Based on property information with market context.
This 2-story half-duplex in Shawnee combines a practical layout with features suited to residential income ownership. The main level includes an open living and dining arrangement, a kitchen, a vaulted living room, and a brick fireplace. Two bedrooms and full bathrooms are located upstairs, while a half bath serves the main floor. The property also includes a large backyard and a 1-car garage for parking and storage.
Built in 1984, the home is located near shopping, restaurants, parks, and Shawnee Mission schools. The absence of an HOA provides flexibility for ownership and occupancy decisions without association requirements.
Built in 1984, the home is located near shopping, restaurants, parks, and Shawnee Mission schools. The absence of an HOA provides flexibility for ownership and occupancy decisions without association requirements.
Key Highlights
- 2‑story half‑duplex in Shawnee, KS
- 1,277‑square‑foot property built in 1984
- Vaulted living room with brick fireplace
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
$12,837
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
4.94%
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%
$256,740
$256.7K
Cap Rate 7%
$183,386
$183.4K
Cap Rate 9%
$142,633
$142.6K
Market Conditions
NOI Build-Up for 1,277 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
$24.2K $18.96/SF
− Vacancy
−$872 −$0.68/SF
EGI
$23.3K $18.28/SF
− OpEx
−$10.5K −$8.22/SF
NOI
$12.8K $10.05/SF
Area
Johnson County, KS
Vacancy
3.60%
Lease Rate
$18.96 /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%
$256,740
Cap Rate 7%
$183,386
Cap Rate 9%
$142,633
Alternative Uses
Best Use
Apartment 5plus
$183.4K
$160.5K – $214.0K
NOI $12,837 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$309.1K
$270.4K – $360.6K
NOI $21,634 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
Explore this area
Business Placement
Demographics for 66203, KS
19,439
Population
8,419
Households
2.3
Avg Household Size
39
Median Age
34%
College-Educated
94%
High-School Grad
6.3 sq mi
ZIP Area
3,086
Density / Sq Mi
$76,590
Median Household Income
$45,615
Median Earnings
$1,183
Median Rent
$235,900
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?
Multifamily property - Open living, dining, and kitchen areas support comfortable everyday use and entertaining.
Where is this multifamily property located?
The property is located at 6241 Rene St Shawnee, KS.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 2‑story half‑duplex in Shawnee, KS; 1,277‑square‑foot property built in 1984; Vaulted living room with brick fireplace
