Zero-Entry Duplex with
For Sale
$189,900
2881 S Cedar Crest Ct, Wichita, KS 67215
Residential, Wichita, KS
Property Size1,195 SF
Lot Size0.20 Acres
Price / SF$158.91
Days on Market131
Property Features for 2881 S Cedar Crest Ct
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Kitchen, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 3
Window features
Storm Window(s)
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Walk-In Closet(s), Window Coverings-All
Exterior features
Guttering - ALL, Sprinkler System, Zero Step Entry, Frame w/Less than 50% Mas
Fireplace
1
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Range
Subdivision
NONE LISTED ON TAX RECORD
Lot features
Cul-De-Sac, Standard
Elementary school
Earhart
Middle school
Goddard
High school
Robert Goddard
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
119th and Pawnee, South on 119th half mile to Graber. East on Graber. South to Cedarcrest Ct.
Standard status
Active
APN
30028816
Size
1,195 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 42 Blk C Bridger Pawnee Addition
Tax Annual Amount
2
HOA Fee
$1,020 Annually
Legal Description
Lot 42 Blk C Bridger Pawnee Addition
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas, Forced Air
Cooling system
Central Air, Electric
Amenities
granite/quartz countertops
luxury vinyl tile flooring
enameled white trim
electric fireplace
stainless steel appliances
walk-in pantry
separate laundry room
fenced yard
sprinkler system
shared irrigation well
Building Details
Year built
2026
Floors in Building
1
Flooring type
Laminate
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: Apr 26
Changed: Sep 2
Last Checked: Sep 3 at 10:06PM
MLS# 671926
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 offers a ranch-style layout with 1,195 square feet, three bedrooms, two bathrooms, and a two-car garage. Zero-step entry, a separate laundry room, and a fenced yard with irrigation support practical daily use. Interior features include granite or quartz countertops, luxury vinyl tile flooring, white enameled trim, and an electric fireplace in the living room. The kitchen is equipped with stainless steel appliances, a separate island for dining, and a walk-in pantry. The primary suite includes a private bathroom with a walk-in shower and a large walk-in closet.
The property is located in Pawnee Crossing, approximately one-half mile south of Pawnee on 119th, within the Goddard School district. A shared irrigation well serves the landscaped setting, and natural gas is available. Construction is scheduled for 2026 completion.
The property is located in Pawnee Crossing, approximately one-half mile south of Pawnee on 119th, within the Goddard School district. A shared irrigation well serves the landscaped setting, and natural gas is available. Construction is scheduled for 2026 completion.
Key Highlights
- 1,195‑square‑foot duplex with 3 bedrooms and 2 bathrooms
- Zero‑step entry and a 2‑car garage
- Granite or quartz counters, luxury vinyl tile, and an electric fireplace
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
$9,855
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
5.19%
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%
$197,100
$197.1K
Cap Rate 7%
$140,786
$140.8K
Cap Rate 9%
$109,500
$109.5K
Market Conditions
NOI Build-Up for 1,195 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 $12.60/SF
− Vacancy
−$979 −$0.82/SF
EGI
$14.1K $11.78/SF
− OpEx
−$4.2K −$3.53/SF
NOI
$9.9K $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%
$197,100
Cap Rate 7%
$140,786
Cap Rate 9%
$109,500
Alternative Uses
Best Use
Multifamily LT 5
$140.8K
$123.2K – $164.3K
NOI $9,855 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$131.0K
$114.6K – $152.8K
NOI $9,167 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$295.9K
$258.9K – $345.2K
NOI $20,712 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 67215, KS
6,451
Population
2,266
Households
2.8
Avg Household Size
36
Median Age
39%
College-Educated
93%
High-School Grad
17.2 sq mi
ZIP Area
375
Density / Sq Mi
$110,329
Median Household Income
$48,691
Median Earnings
$1,336
Median Rent
$222,500
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 - Under-construction ranch duplex with fenced landscaping, modern finishes, and a two-car garage.
Where is this duplex located?
The property is located at 2881 S Cedar Crest Ct Wichita, KS.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: 1,195‑square‑foot duplex with 3 bedrooms and 2 bathrooms; Zero‑step entry and a 2‑car garage; Granite or quartz counters, luxury vinyl tile, and an electric fireplace
