2017 Duplex with
For Sale
$350,000
643 E Mulvane St, Mulvane, KS 67110
Residential Income, Mulvane, KS
Property Size2,186 SF
Lot Size0.20 Acres
Price / SF$160.11
Days on Market55
Property Features for 643 E Mulvane St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Appliances
Dishwasher, Microwave, Range, Refrigerator
Elementary school
Mulvane/Munson
Middle school
Mulvane
High school
Mulvane
Elementary school district
Mulvane School District (USD 263)
Middle school district
Mulvane School District (USD 263)
High school district
Mulvane School District (USD 263)
Directions
From 2nd and Mulvane, go East on Mulvane St to residence
Subdivision
SCKMLS
Standard status
Active
APN
00306990
Size
2,186 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ALL LOTS 14 & 15 & LOT 13 EXC W 1/2 THEREOF SHAW'S ADD TO MULVANE
Tax Annual Amount
4248
Legal Description
ALL LOTS 14 & 15 & LOT 13 EXC W 1/2 THEREOF SHAW'S ADD TO MULVANE
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Electric
Water source
Public
Building Details
Year built
2017
Number of units
2
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Heritage 1st Realty
(316) 512-1300
Listed By:
Justin Crafton
(316) 461-2806
Added: Jul 8
Changed: Aug 19
Last Checked: Aug 31 at 7:06PM
MLS# 675618
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.
Built in 2017, this 2,186-square-foot duplex contains two residences with matching three-bedroom, two-bathroom layouts. Each side includes an attached two-car garage, generous living areas, granite countertops, and storage space. The property has frame construction, a composition roof, forced-air heating, electric cooling, and natural gas availability. Appliances include a dishwasher, microwave, range, and refrigerator, while the water supply is public.
The 0.1999-acre property is located in Mulvane, Kansas, with access to schools, parks, K-15, and Rock Rd. Its residential configuration supports separate occupancy within one building, with each unit offering a comparable arrangement and attached garage capacity.
The 0.1999-acre property is located in Mulvane, Kansas, with access to schools, parks, K-15, and Rock Rd. Its residential configuration supports separate occupancy within one building, with each unit offering a comparable arrangement and attached garage capacity.
Key Highlights
- Two residences, each with 3 bedrooms and 2 bathrooms
- Each side includes an attached 2‑car garage
- 2,186 square feet on a 0.1999‑acre lot
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
$18,278
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
5.22%
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%
$365,560
$365.6K
Cap Rate 7%
$261,114
$261.1K
Cap Rate 9%
$203,089
$203.1K
Market Conditions
NOI Build-Up for 2,186 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
$27.5K $12.60/SF
− Vacancy
−$1.4K −$0.66/SF
EGI
$26.1K $11.94/SF
− OpEx
−$7.8K −$3.58/SF
NOI
$18.3K $8.36/SF
Area
Sedgwick County, KS
Vacancy
5.20%
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%
$365,560
Cap Rate 7%
$261,114
Cap Rate 9%
$203,089
Alternative Uses
Best Use
Multifamily LT 5
$261.1K
$228.5K – $304.6K
NOI $18,278 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$240.8K
$210.7K – $281.0K
NOI $16,859 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$455.6K
$398.7K – $531.6K
NOI $31,894 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Explore this area
Business Placement
Demographics for 67110, KS
8,263
Population
3,394
Households
2.4
Avg Household Size
39
Median Age
30%
College-Educated
97%
High-School Grad
54.3 sq mi
ZIP Area
152
Density / Sq Mi
$73,387
Median Household Income
$44,226
Median Earnings
$1,190
Median Rent
$179,800
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 - Two three-bedroom residences offer private garages, granite countertops, ample storage, and practical layouts for occupants.
Where is this duplex located?
The property is located at 643 E Mulvane St Mulvane, KS.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 bathrooms; Each side includes an attached 2‑car garage; 2,186 square feet on a 0.1999‑acre lot
