Duplex with Three-Car
For Sale
$389,500
5287 N Toben, Wichita, KS 67226
SINGLE_FAMILY - Contemporary, Ranch - Wichita, KS
Property Size2,773 SF
Lot Size0.26 Acres
Price / SF$140.46
Days on Market98
Property Features for 5287 N Toben
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Dining Room, Laundry Room, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1
Security features
Security Lighting
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, Brick, Brick Veneer
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Range
Subdivision
ROCK SPRING
Lot features
Cul-De-Sac, Standard
Elementary school
Isely Traditional Magnet
Middle school
Stucky
High school
Heights
Elementary school district
Wichita School District (USD 259)
Middle school district
Wichita School District (USD 259)
High school district
Wichita School District (USD 259)
Directions
From Webb & 53rd St N., West (left) to Toben, South (left) to 2nd cul-de-sac on right. Home is on left side.
Standard status
Active
APN
104-20-0-11-02-019.00
Size
2,773 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 19 BLOCK 1 ROCK SPRING 3RD ADDITION
Tax Annual Amount
5990
HOA Fee
$200 Annually
Legal Description
LOT 19 BLOCK 1 ROCK SPRING 3RD ADDITION
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air, Natural Gas
Cooling system
Electric, Central Air
Amenities
covered walkway
covered patios
fully fenced backyards
Building Details
Year built
2021
Floors in Building
1
Flooring type
Laminate
Building materials
Frame, Brick Veneer
Roof type
Composition
Architectural style
Contemporary, Ranch
Listing Agency:
Coldwell Banker Plaza Real Estate · Coldwell Banker Real Estate
(316) 686-7121
Listed By:
Leslie Wessel · License #00225620
(316) 461-4375
Added: May 1
Changed: Aug 1
Last Checked: Aug 6 at 12:06PM
MLS# 672262
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.
Welcome to 5287 and 5289 N Toben, an income-producing full duplex offering immediate rental income and leasing flexibility for investors and owner-occupants. Unit 5287 is leased with a recently renewed one-year lease extending into 2027, while Unit 5289 will become available July 31, 2026, allowing a new tenant move-in or one-side occupancy with income from the other unit.
Both units have modern, cohesive interiors with luxury vinyl plank flooring and neutral finishes. Updates continue throughout with granite countertops in kitchens and bathrooms, stainless steel appliances, and private primary suite bathrooms with oversized walk-in closets and built-in storage. Each unit is accessed from a welcoming covered walkway to private entrances, and the property features an attached three-car garage setup per unit with a rear roll-up garage door that supports an indoor-outdoor connection to the backyard and patio area. Outdoor space includes covered patios and fully fenced backyards.
Built in 2021, the duplex has central air with forced air natural gas heating and includes utilities such as natural gas availability. Professional management is currently in place through Reliance Property Management.
Both units have modern, cohesive interiors with luxury vinyl plank flooring and neutral finishes. Updates continue throughout with granite countertops in kitchens and bathrooms, stainless steel appliances, and private primary suite bathrooms with oversized walk-in closets and built-in storage. Each unit is accessed from a welcoming covered walkway to private entrances, and the property features an attached three-car garage setup per unit with a rear roll-up garage door that supports an indoor-outdoor connection to the backyard and patio area. Outdoor space includes covered patios and fully fenced backyards.
Built in 2021, the duplex has central air with forced air natural gas heating and includes utilities such as natural gas availability. Professional management is currently in place through Reliance Property Management.
Key Highlights
- Full duplex at 5287 & 5289 N Toben with rental income and leasing flexibility
- Unit 5287 leased with a recently renewed one‑year lease extending into 2027
- Unit 5289 available July 31, 2026; showings require at least 24 hours notice
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
$22,868
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
5.87%
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%
$457,360
$457.4K
Cap Rate 7%
$326,686
$326.7K
Cap Rate 9%
$254,089
$254.1K
Market Conditions
NOI Build-Up for 2,773 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
$34.9K $12.60/SF
− Vacancy
−$2.3K −$0.82/SF
EGI
$32.7K $11.78/SF
− OpEx
−$9.8K −$3.53/SF
NOI
$22.9K $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%
$457,360
Cap Rate 7%
$326,686
Cap Rate 9%
$254,089
Alternative Uses
Best Use
Multifamily LT 5
$326.7K
$285.9K – $381.1K
NOI $22,868 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$303.9K
$265.9K – $354.6K
NOI $21,273 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$686.6K
$600.8K – $801.0K
NOI $48,062 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Explore this area
Business Placement
Demographics for 67226, KS
20,767
Population
9,256
Households
2.2
Avg Household Size
37
Median Age
52%
College-Educated
97%
High-School Grad
24.7 sq mi
ZIP Area
841
Density / Sq Mi
$88,603
Median Household Income
$49,666
Median Earnings
$1,164
Median Rent
$274,700
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 - Income-producing full duplex built in 2021 with three-car garages, private entrances, covered patios, and fenced backyards.
Where is this duplex located?
The property is located at 5287 N Toben Wichita, 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: Full duplex at 5287 & 5289 N Toben with rental income and leasing flexibility; Unit 5287 leased with a recently renewed one‑year lease extending into 2027; Unit 5289 available July 31, 2026; showings require at least 24 hours notice
