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    5287 N Toben Bel Aire, KS 67226

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    Claim this Listing
    New
    For Sale
    $389,500

    MULTI_FAMILY - Other - Bel Aire, KS

    Property size:
    2,773 SF
    Lot size:
    11,276.00 Acres
    Price / SF:
    $140/SF
    Added:
    May 1, 2026
    Days on Market:
    2
    Last Refresh:
    May 2 at 4:06 pm

    Property Features for 5287 N Toben

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking
    12
    Parking features
    On Street, Off Street
    Appliances
    Dishwasher, Disposal, Microwave, Range, Refrigerator
    Standard status
    Active
    APN
    30013175
    Size
    2,773 SF
    Lot size
    11,276.00 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOT 19 BLOCK 1 ROCK SPRING 3RD ADDITION
    Tax Annual Amount
    5990

    Utilities

    Utilities
    Natural Gas Available
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Electric, Multi Units, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    2021
    Number of units
    2
    Flooring type
    Concrete
    Building materials
    Brick Veneer, Frame, Masonry
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Leslie Wessel
    Leslie Wessel

    Listing agent Leslie Wessel License #00225620

    Listing office Coldwell Banker Plaza Real Estate 9860 E. 21st St. N., Wichita, KS

    Listing date May 1, 2026

    MLS# 672266 Listing URL

    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.

    Overview

    Income-Producing Bel Aire Duplex

    This income-producing full duplex in Bel Aire, Kansas, is fully leased and generates $41,400 in annual gross income. The property offers an approximate 5.8% cap rate for buyers who choose to self-manage. Professional management is currently in place through Reliance Property Management, giving investors the flexibility to continue hands-off or increase returns through self-management. The property features three-car garages, abundant parking, and a covered walkway leading to private entrances for each unit. Both units feature a modern, cohesive design with luxury vinyl plank flooring and neutral finishes throughout. Each unit offers a spacious kitchen complete with stainless steel appliances and granite countertops. Granite surfaces extend into the bathrooms. Flex space and architectural elements add character. Primary suites include private bathrooms, built-in storage, and oversized walk-in closets. The attached three-car garage setup features a rear roll-up garage door, creating a versatile indoor/outdoor connection and access to the backyard and patio space. Outdoor amenities include a covered patio and a fully fenced backyard. The property size is 2773 square feet and the lot size is 11276 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Bel Aire
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.2186
    Latitude
    37.7646

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    FAQs

    What type of property is this?
    Duplex - Fully leased duplex with strong income and upside potential.
    Where is this duplex located?
    The property is located at 5287 N Toben Bel Aire, KS.
    What is the asking price?
    The asking price for this property is $389,500.
    What are key features of this property?
    This property features: Strong in‑place rents generating $41,400 annual gross income with upside potential.; Fully leased duplex providing immediate cash flow and a true plug‑and‑play investment.; Uncommon three‑car garages with rear roll‑up door, offering exceptional storage, parking, and versatile indoor/outdoor access.
    (316) 461-4375
    We can help!
    Listing Contact
    Leslie Wessel
    Leslie Wessel
    Real Estate License ID: 00225620
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    5287 N Toben, Bel Aire, KS 67226

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