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    The Largest CRE Database in the US with Over 1 Million Listings

    731-733 N Elder St Wichita, KS 67212

    Sponsored
    For Sale
    Pending
    $395,000

    MULTI_FAMILY - Other - Wichita, KS

    Property size:
    4,344 SF
    Lot size:
    11,023.00 Acres
    Days on Market:
    8
    Last Refresh:
    Feb 3 at 6:06 am

    Property Features for 731-733 N Elder St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Pending
    APN
    46466-544
    Parking
    8
    Appliances
    Dishwasher, Microwave, Range, Refrigerator
    Size
    4,344 SF
    Lot size
    11,023.00 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    2026
    Number of units
    2
    Building materials
    Frame
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Jerrome D Castillo
    Jerrome D Castillo

    Realty One Corp. (316) 644-9101

    Listing agent Jerrome D Castillo (316) 942-8600

    Listing date Jan 27, 2026

    MLS# 666806 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.

    Learn more

    Property Insight Report

    Overview

    New Duplex with Modern Layout

    This new construction duplex, estimated for completion in 2026 (approximately four months), offers 2,172 square feet of living space. The property features a functional and modern layout with 4 bedrooms and 3 full bathrooms. The open main level includes a spacious kitchen equipped with a large island, range, microwave, refrigerator, pantry, and ample cabinet space. VLP flooring is installed throughout the kitchen, dining area, hallways, and bathrooms, while the bedrooms are carpeted. A main-floor laundry is included for convenience. The duplex includes extra-large bedrooms, walk-in closets, and a private primary suite with a full bath. The fourth bedroom and third bathroom are located upstairs above the garage, suitable for use as a bonus room, guest suite, or kids' space. Extra-wide stairs provide easy access to this upper level. Exterior features include a fenced yard with a patio, an extra-large concrete driveway with additional parking, and a two-car garage. The property is located in Wichita, KS, within the 67212 postal code area, and is situated on a lot of 11023 acres. The duplex will include a builder's warranty.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wichita
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.40524628
    Latitude
    37.69674585

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    FAQs

    What type of property is this?
    Duplex - New construction duplex with 4 bedrooms, 3 baths, fenced yard.
    Where is this duplex located?
    The property is located at 731-733 N Elder St Wichita, KS.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: - Brand-new duplex (estimated completion in approximately 4 months) offering the opportunity to live in one unit and rent out the other.; - Spacious 2,172 sq. ft. layout with 4 bedrooms and 3 full bathrooms.; - Modern kitchen featuring a LARGE ISLAND, range, microwave, refrigerator, pantry, and ample cabinet space.
    (316) 312-6697
    Request Owner's contact information
    731-733 N Elder St Wichita, KS 67212
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    Wichita, KS 67212
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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
    731-733 N Elder St Wichita, KS 67212
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    We can help!
    Listing Contact
    Jerrome D Castillo
    Jerrome D Castillo
    Real Estate License ID: 00216615
    (316) 312-6697
    Learn more
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