Duplex With Fenced
New
For Sale
$249,950
847 E Pinewood Street, Gardner, KS 66030
Updated two-unit property with five total bedrooms and flexible additional living space.
Property Size1,548 SF
Days on Market3
Property Features for 847 E Pinewood Street
General Information
Standard status
Active
Size
1,548 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,476
Amenities
fully fenced backyard
deck with slide
chicken/duck pen
Building Details
Building Size
1,548 SF
Year Built
1981
Buildings
1
Stories
2
Listing Agency:
ReeceNichols- Leawood Town Center
(913) 345-0700
Listed By:
Valerie McClaskey · License #SP00236824
(913) 345-0700
Source:
Community-realty
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 1:58PM
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 ReeceNichols- Leawood Town Center
Investment Insights
Based on property information with market context.
Built in 1981, this updated duplex includes five bedrooms overall, with two identified as non-conforming. The layout supports a range of residential arrangements, including an owner-occupied setup with rental potential or use as an income-producing property.
Outdoor improvements include a fully enclosed backyard, a dedicated chicken or duck pen, and a deck with a slide. The yard provides space for recreation, entertaining, gardening, and general outdoor use. The property is situated in Gardner with access to schools, shopping, dining, parks, community amenities, and the Gardner Edgerton County Fair.
Outdoor improvements include a fully enclosed backyard, a dedicated chicken or duck pen, and a deck with a slide. The yard provides space for recreation, entertaining, gardening, and general outdoor use. The property is situated in Gardner with access to schools, shopping, dining, parks, community amenities, and the Gardner Edgerton County Fair.
Key Highlights
- Updated duplex with 5 total bedrooms
- Two additional non‑conforming bedrooms
- Fully fenced backyard with room for recreation, entertaining, and gardening
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 - Updated two-unit property with five total bedrooms and flexible additional living space.
Where is this duplex located?
The property is located at 847 E Pinewood Street 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: Updated duplex with 5 total bedrooms; Two additional non‑conforming bedrooms; Fully fenced backyard with room for recreation, entertaining, and gardening
