Two-Level
For Sale
$125,000
83 N Mill Street, Kansas City, KS 66101
Two separate residences offer private entrances, shared laundry, parking, and porch areas in Kansas City, KS.
Property Size1,092 SF
Days on Market164
Property Features for 83 N Mill Street
General Information
Standard status
Active
Size
1,092 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
kr2b
Units
Unit Mix
1 x 1BR/1BA, 1 x studio
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,520
Amenities
private parking
shared laundry room
porch
handicapped access
Electric
Natural Gas
Cooktop, Dishwasher, Dryer, Refrigerator, Washer
Off Street, On Street
Building Details
Building Size
1,092 SF
Year Built
1930
Stories
2
Listing Agency:
Atlas Real Estate LLC
Listed By:
Daniel Buckley
(913) 231-4464
Source:
Evrealestate
Added: Mar 30
Changed: Sep 8
Last Checked: Sep 7 at 2:56PM
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 Atlas Real Estate LLC
Investment Insights
Based on property information with market context.
This two-level duplex contains two separately accessed residences. The upper apartment includes one bedroom and one bathroom, along with a kitchen, dining area, living room, and handicapped access. The lower residence is configured as a studio with a living area, kitchen, and full bathroom.
Property features include private parking and a shared laundry room. Porch areas at the front and rear provide additional outdoor space. Located at 83 N Mill St in Kansas City, KS, the property combines distinct unit access with a compact residential layout.
Property features include private parking and a shared laundry room. Porch areas at the front and rear provide additional outdoor space. Located at 83 N Mill St in Kansas City, KS, the property combines distinct unit access with a compact residential layout.
Key Highlights
- Two‑level duplex with private entrances for each unit
- Upper unit includes 1 bedroom, 1 bathroom, kitchen, dining room, and living room
- Lower unit is a studio with kitchen, living room, and full bathroom
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
$9,898
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
7.92%
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%
$197,960
$198.0K
Cap Rate 7%
$141,400
$141.4K
Cap Rate 9%
$109,978
$110.0K
Market Conditions
NOI Build-Up for 1,092 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
$15.1K $13.80/SF
− Vacancy
−$930 −$0.85/SF
EGI
$14.1K $12.95/SF
− OpEx
−$4.2K −$3.88/SF
NOI
$9.9K $9.06/SF
Area
Kansas City, KS
Vacancy
6.17%
Lease Rate
$13.80 /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%
$197,960
Cap Rate 7%
$141,400
Cap Rate 9%
$109,978
Alternative Uses
Best Use
Multifamily LT 5
$141.4K
$123.7K – $165.0K
NOI $9,898 @ 7.0% cap · market cap 7.92%
Second Best
Apartment 5plus
$130.0K
$113.7K – $151.6K
NOI $9,097 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$180.9K
$158.3K – $211.1K
NOI $12,664 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
631
Businesses Nearby
Explore this area
Business Placement
Demographics for 66101, KS
13,785
Population
5,995
Households
2.3
Avg Household Size
33
Median Age
15%
College-Educated
68%
High-School Grad
3.2 sq mi
ZIP Area
4,308
Density / Sq Mi
$38,819
Median Household Income
$31,654
Median Earnings
$789
Median Rent
$77,300
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?
Duplex - Two separate residences offer private entrances, shared laundry, parking, and porch areas in Kansas City, KS.
Where is this duplex located?
The property is located at 83 N Mill Street Kansas City, KS.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Two‑level duplex with private entrances for each unit; Upper unit includes 1 bedroom, 1 bathroom, kitchen, dining room, and living room; Lower unit is a studio with kitchen, living room, and full bathroom
