Duplex with Covered
New
For Sale
$459,800
814 N Wheatland St Unit 100, Wichita, KS 67235
Residential Income, Wichita, KS
Property Size2,712 SF
Lot Size0.24 Acres
Price / SF$169.54
Days on Market6
Property Features for 814 N Wheatland St Unit 100
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Parking
4
Appliances
Dishwasher, Disposal, Microwave, Range, Refrigerator
Subdivision
Bridger at Central Addition - Crescent Creek
Elementary school
Explorer
Middle school
Eisenhower
High school
Dwight D. Eisenhower
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
West on Central from 119th to "Crescent Creek", before 135th, North on Rainbow Lake St. to Thornton.
Standard status
Active
APN
30028166
Size
2,712 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 4 BLOCK K BRIDGER AT CENTRAL ADDITION
Tax Annual Amount
6
HOA Fee
$3,000 Annually
Legal Description
LOT 4 BLOCK K BRIDGER AT CENTRAL ADDITION
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air, Natural Gas
Cooling system
Electric
Water source
Public
Amenities
covered front porch
covered back patio
electric fireplace
fully fenced backyard
sprinklered backyard
Building Details
Year built
2025
Number of units
2
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
RE/MAX Premier · RE/MAX International
(316) 773-2707
Listed By:
Karen Hampton · License #00052101
(316) 641-9442
Added: Aug 16
Changed: Aug 21
Last Checked: Aug 21 at 3:06PM
MLS# 677649
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 contains two residences, each with 1,356 square feet, three bedrooms, and two bathrooms. Both sides include a two-car garage, covered front porch, fenced and sprinklered backyard, electric fireplace, vaulted ceilings, and an open kitchen with quartz countertops, pantry, stainless steel appliances, and ample cabinetry. Each primary suite features dual vanities, a walk-in shower, and an oversized walk-in closet. The 814 Wheatland residence adds a 14x12 covered back patio and sits on the lake.
The property is located in the Crescent Creek community, 1/2 mile east of 135th Street on Central in Wichita. Planned community features include a clubhouse with a basement, swimming pool, pickleball court, stocked lake, and walking paths. Public water and natural gas availability serve the property, with forced-air natural gas heating and electric cooling.
The property is located in the Crescent Creek community, 1/2 mile east of 135th Street on Central in Wichita. Planned community features include a clubhouse with a basement, swimming pool, pickleball court, stocked lake, and walking paths. Public water and natural gas availability serve the property, with forced-air natural gas heating and electric cooling.
Key Highlights
- Two residences totaling 2712 square feet, with 1,356 sq. ft. per side
- Each unit includes 3 bedrooms, 2 bathrooms, and a 2‑car garage
- 814 Wheatland includes a 14x12 covered back patio and lake setting
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
$22,365
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
4.86%
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%
$447,300
$447.3K
Cap Rate 7%
$319,500
$319.5K
Cap Rate 9%
$248,500
$248.5K
Market Conditions
NOI Build-Up for 2,712 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
$34.2K $12.60/SF
− Vacancy
−$2.2K −$0.82/SF
EGI
$32.0K $11.78/SF
− OpEx
−$9.6K −$3.53/SF
NOI
$22.4K $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%
$447,300
Cap Rate 7%
$319,500
Cap Rate 9%
$248,500
Alternative Uses
Best Use
Multifamily LT 5
$319.5K
$279.6K – $372.8K
NOI $22,365 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$297.2K
$260.1K – $346.8K
NOI $20,805 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$671.5K
$587.6K – $783.4K
NOI $47,005 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Explore this area
Business Placement
Demographics for 67235, KS
14,824
Population
5,311
Households
2.8
Avg Household Size
38
Median Age
45%
College-Educated
98%
High-School Grad
10.8 sq mi
ZIP Area
1,373
Density / Sq Mi
$112,500
Median Household Income
$51,333
Median Earnings
$1,541
Median Rent
$298,100
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 duplex offering two well-appointed residences with private garages, fenced yards, and open-concept interiors.
Where is this duplex located?
The property is located at 814 N Wheatland St Unit 100 Wichita, KS.
What is the asking price?
The asking price for this property is $459,800.
What are key features of this property?
This property features: Two residences totaling 2712 square feet, with 1,356 sq. ft. per side; Each unit includes 3 bedrooms, 2 bathrooms, and a 2‑car garage; 814 Wheatland includes a 14x12 covered back patio and lake setting
