Updated Duplex with Flexible
For Sale
$249,950
847 E Pinewood St, Gardner, KS 66030
Five-bedroom duplex with two non-conforming bedrooms and additional office space for household or guest use.
Property Size1,548 SF
Price / SF$161.47
Days on Market14
Property Features for 847 E Pinewood St
General Information
Standard status
Active
Size
1,548 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1981
Listing Agency:
Kw Diamond Partners
(913) 349-7580
Listed By:
Van Noy Real Estate
(913) 349-7580
Source:
Kchomelistings
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 30 at 9:27AM
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 Kw Diamond Partners
Investment Insights
Based on property information with market context.
This updated duplex includes five total bedrooms, with two identified as non-conforming. Additional office space provides flexibility for household needs or guest accommodations. The property was built in 1981 and offers a residential income configuration with adaptable interior space.
Located at 847 E Pinewood St in Gardner, Kansas, the property is positioned within the Gardner community. Its duplex format, bedroom count, and supplemental office area create a practical combination of residential and flexible-use features.
Located at 847 E Pinewood St in Gardner, Kansas, the property is positioned within the Gardner community. Its duplex format, bedroom count, and supplemental office area create a practical combination of residential and flexible-use features.
Key Highlights
- Duplex with 5 total bedrooms
- 2 non‑conforming bedrooms included
- Additional office space for flexible use
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
$16,589
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
6.64%
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%
$331,780
$331.8K
Cap Rate 7%
$236,986
$237.0K
Cap Rate 9%
$184,322
$184.3K
Market Conditions
NOI Build-Up for 1,548 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
$25.1K $16.20/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$23.7K $15.31/SF
− OpEx
−$7.1K −$4.59/SF
NOI
$16.6K $10.72/SF
Area
Johnson County, KS
Vacancy
5.50%
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%
$331,780
Cap Rate 7%
$236,986
Cap Rate 9%
$184,322
Alternative Uses
Best Use
Multifamily LT 5
$237.0K
$207.4K – $276.5K
NOI $16,589 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$222.3K
$194.5K – $259.4K
NOI $15,561 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$374.6K
$327.8K – $437.1K
NOI $26,225 @ 7.0% cap · market cap 10.49%
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
331
Businesses Nearby
Explore this area
Business Placement
Demographics for 66030, KS
25,164
Population
9,319
Households
2.7
Avg Household Size
33
Median Age
34%
College-Educated
96%
High-School Grad
46.4 sq mi
ZIP Area
542
Density / Sq Mi
$93,891
Median Household Income
$48,661
Median Earnings
$1,306
Median Rent
$281,700
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 - Five-bedroom duplex with two non-conforming bedrooms and additional office space for household or guest use.
Where is this duplex located?
The property is located at 847 E Pinewood St Gardner, KS.
What is the asking price?
The asking price for this property is $249,950.
What are key features of this property?
This property features: Duplex with 5 total bedrooms; 2 non‑conforming bedrooms included; Additional office space for flexible use
