Under-Construction Ranch
For Sale
$269,900
12907 W Thorton St., Wichita, KS 67235
Residential, Wichita, KS
Property Size1,662 SF
Lot Size0.29 Acres
Price / SF$162.39
Days on Market84
Property Features for 12907 W Thorton St.
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Kitchen, Bedroom 2, Laundry Room, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1
Window features
Storm Window(s)
Interior features
Ceiling Fan(s), Walk-In Closet(s), Window Coverings-Part
Exterior features
Guttering - ALL, Sprinkler System, Zero Step Entry, Frame w/Less than 50% Mas
Appliances
Dishwasher, Disposal, Refrigerator, Range
Subdivision
Bridger at Central Addition - Crescent Creek
Lot features
Standard
Elementary school
Explorer
Middle school
Eisenhower
High school
Dwight D. Eisenhower
Elementary school district
Goddard School District (USD 265)
Middle school district
Goddard School District (USD 265)
High school district
Goddard School District (USD 265)
Directions
West on Central from 119th to "Crescent Creek", before 135th, North on Rainbow Lake St. to Thornton.
Standard status
Active
APN
30028047
Size
1,662 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 18 Block D Bridger at Central Addition
Tax Annual Amount
2
HOA Fee
$1,500 Annually
Legal Description
LOT 18 Block D Bridger at Central Addition
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas, Forced Air
Cooling system
Electric, Central Air
Amenities
covered patio
fenced yard
sprinkler system
irrigation
Building Details
Year built
2026
Floors in Building
1
Roof type
Composition
Architectural style
Ranch
Listing Agency:
RE/MAX Premier · RE/MAX International
(316) 773-2707
Listed By:
Karen Hampton · License #00052101
(316) 641-9442
Added: Jun 13
Changed: Sep 2
Last Checked: Sep 4 at 10:06AM
MLS# 674488
Copyright © 2026 South Central Kansas MLS. 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 under-construction duplex property presents ranch-style residences with 1,662 square feet per unit, four bedrooms, and two bathrooms. Each side includes an open living area with LVP flooring, a kitchen outfitted with white quartz counters and stainless steel appliances, and oversized bathrooms with dual sinks. One bathroom connects the second and third bedrooms in a Jack-and-Jill arrangement. Additional features include walk-in closets, ceiling fans, central air, forced-air natural gas heat, a two-car garage, and a covered patio opening to a fenced yard with irrigation and sprinklers. Brick and Smart Lap siding complete the exterior, while zero-step entry supports convenient access.
The property is located at 12907 W Thorton St. in Wichita's Crescent Creek community, approximately 1/2 mile east of 135th Street and north of Central. Planned community features include a clubhouse, swimming pool, pickleball court, stocked lake, and walking paths. Multiple floor plans are available, and the projected 2026 construction date supports forward planning for an upcoming residential income property.
The property is located at 12907 W Thorton St. in Wichita's Crescent Creek community, approximately 1/2 mile east of 135th Street and north of Central. Planned community features include a clubhouse, swimming pool, pickleball court, stocked lake, and walking paths. Multiple floor plans are available, and the projected 2026 construction date supports forward planning for an upcoming residential income property.
Key Highlights
- 1,662 square feet per unit with a four‑bedroom, two‑bath layout
- Two‑car garage, covered 15x10 patio, fenced yard, sprinkler system, and irrigation
- White quartz kitchen counters with stainless steel stove, refrigerator, dishwasher, and microwave
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
$13,706
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
5.08%
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%
$274,120
$274.1K
Cap Rate 7%
$195,800
$195.8K
Cap Rate 9%
$152,289
$152.3K
Market Conditions
NOI Build-Up for 1,662 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
$20.9K $12.60/SF
− Vacancy
−$1.4K −$0.82/SF
EGI
$19.6K $11.78/SF
− OpEx
−$5.9K −$3.53/SF
NOI
$13.7K $8.25/SF
Area
Wichita, KS
Vacancy
6.50%
Lease Rate
$12.60 /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%
$274,120
Cap Rate 7%
$195,800
Cap Rate 9%
$152,289
Alternative Uses
Best Use
Multifamily LT 5
$195.8K
$171.3K – $228.4K
NOI $13,706 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$182.1K
$159.4K – $212.5K
NOI $12,750 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$411.5K
$360.1K – $480.1K
NOI $28,806 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Explore this area
Business Placement
Demographics for 67235, KS
14,824
Population
5,311
Households
2.8
Avg Household Size
38
Median Age
45%
College-Educated
98%
High-School Grad
10.8 sq mi
ZIP Area
1,373
Density / Sq Mi
$112,500
Median Household Income
$51,333
Median Earnings
$1,541
Median Rent
$298,100
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 - Each residence combines an open interior, attached two-car garage, fenced yard, and covered patio in the Crescent Creek community.
Where is this duplex located?
The property is located at 12907 W Thorton St. Wichita, KS.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 1,662 square feet per unit with a four‑bedroom, two‑bath layout; Two‑car garage, covered 15x10 patio, fenced yard, sprinkler system, and irrigation; White quartz kitchen counters with stainless steel stove, refrigerator, dishwasher, and microwave
