Renovated Duplex with New
New
For Sale
$245,000
718 S Stevenson Street, Olathe, KS 66061
Residential, Olathe, KS
Property Size1,144 SF
Lot Size0.21 Acres
Price / SF$214.16
Days on Market5
Property Features for 718 S Stevenson Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Basement, Bathroom 2, Bedroom 2, Bedroom 3
Basement
Full
Subdivision
Lakeside Acres
Elementary school
Central
Middle school
Oregon Trail
High school
Olathe North
Elementary school district
Olathe
Middle school district
Olathe
High school district
Olathe
Directions
Taking E Old 56 Hwy/ Old 56 Highway, turn right onto S Harrison St, turn right onto Sheridan St, turn right onto South Stevenson. House will be on your left.
Standard status
Active
APN
DP39000000-0012B
Size
1,144 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
LAKE SIDE ACRES PT LT 12 BG SW CR N 34.9' E 259.76' S 34.9' W 259.48' TO POB OLC 358 12 1 1
Tax Annual Amount
2399
Legal Description
LAKE SIDE ACRES PT LT 12 BG SW CR N 34.9' E 259.76' S 34.9' W 259.48' TO POB OLC 358 12 1 1
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
1971
Building materials
Brick/Mortar
Roof type
Composition
Listing Agency:
KW KANSAS CITY METRO · Keller Williams Realty
(913) 825-7500
Listed By:
Seddik Messaoudene · License #00248880
(913) 257-7516
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 21 at 9:06PM
MLS# 2642336
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 renovated duplex offers 1,144 square feet on a 0.208-acre lot, with three bedrooms, 1.5 baths, living areas, a basement, and a second bathroom. Improvements include a new roof and deck, while brick and mortar construction provides the primary exterior finish. The property was built in 1971 and includes composition roofing, electric heating, and electric cooling.
Public water and public sewer serve the property. Its address is 718 S Stevenson Street in Olathe, Kansas 66061, within Johnson County. The location is described as close to schools, shopping, restaurants, parks, and everyday amenities.
Public water and public sewer serve the property. Its address is 718 S Stevenson Street in Olathe, Kansas 66061, within Johnson County. The location is described as close to schools, shopping, restaurants, parks, and everyday amenities.
Key Highlights
- Duplex with 1,144 square feet of property size
- 0.208‑acre lot in Olathe, Kansas
- Three bedrooms and 1.5 baths
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
$12,173
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
4.97%
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%
$243,460
$243.5K
Cap Rate 7%
$173,900
$173.9K
Cap Rate 9%
$135,256
$135.3K
Market Conditions
NOI Build-Up for 1,144 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
$18.5K $16.20/SF
− Vacancy
−$1.1K −$1.00/SF
EGI
$17.4K $15.20/SF
− OpEx
−$5.2K −$4.56/SF
NOI
$12.2K $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%
$243,460
Cap Rate 7%
$173,900
Cap Rate 9%
$135,256
Alternative Uses
Best Use
Multifamily LT 5
$173.9K
$152.2K – $202.9K
NOI $12,173 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$151.3K
$132.4K – $176.5K
NOI $10,589 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$338.1K
$295.8K – $394.5K
NOI $23,667 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
Explore this area
Business Placement
Demographics for 66061, KS
66,166
Population
24,744
Households
2.7
Avg Household Size
36
Median Age
45%
College-Educated
93%
High-School Grad
63.3 sq mi
ZIP Area
1,045
Density / Sq Mi
$109,110
Median Household Income
$50,736
Median Earnings
$1,228
Median Rent
$337,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Updated brick-and-mortar duplex with public water and sewer.
Where is this duplex located?
The property is located at 718 S Stevenson Street Olathe, KS.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Duplex with 1,144 square feet of property size; 0.208‑acre lot in Olathe, Kansas; Three bedrooms and 1.5 baths
