Fully Occupied
New
For Sale
$275,000
1027-1029 N H St, Wellington, KS 67152
Residential Income, Wellington, KS
Property Size2,086 SF
Lot Size0.21 Acres
Price / SF$131.83
Days on Market2
Property Features for 1027-1029 N H St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Appliances
Dishwasher, Disposal, Range, Refrigerator
Elementary school
Wellington
Middle school
Wellington
High school
Wellington
Elementary school district
Wellington School District (USD 353)
Middle school district
Wellington School District (USD 353)
High school district
Wellington School District (USD 353)
Directions
From Highway 81 to N Vandenburgh Ave, West on 16th st, and N on H ST!
Subdivision
SCKMLS
Standard status
Active
APN
151-11-0-30-06-001.11-0
Size
2,086 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TMBER CREEK ADD, S11, T32, R01W,BLOCK 1; , LOT 7
Tax Annual Amount
4381
Legal Description
TMBER CREEK ADD, S11, T32, R01W,BLOCK 1; , LOT 7
Utilities
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Multi Units, Electric
Water source
Public
Building Details
Year built
2019
Number of units
2
Building materials
Brick Veneer, Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Heritage 1st Realty
(316) 512-1300
Listed By:
Asa Pechin · License #00243829
(316) 295-0681
Added: Sep 4
Last Checked: Sep 5 at 10:06AM
MLS# 678644
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 duplex contains 2086 square feet on 0.206 acres and was built in 2019. The property uses brick veneer and frame construction beneath a composition roof, with public water service. Both units are all-electric and feature heat pump and electric heating, electric cooling, dishwashers, disposals, ranges, and refrigerators.
Located at 1027-1029 N H St in Wellington, Kansas, the property is fully occupied and has maintained a consistent leasing history during the seller’s ownership. The duplex may be purchased separately or considered with the separately listed development property at Block 1, Lots 1-7 & 8-9, Timber Creek Addition.
Located at 1027-1029 N H St in Wellington, Kansas, the property is fully occupied and has maintained a consistent leasing history during the seller’s ownership. The duplex may be purchased separately or considered with the separately listed development property at Block 1, Lots 1-7 & 8-9, Timber Creek Addition.
Key Highlights
- Fully occupied duplex with consistent leasing history
- 2086 square feet on 0.206 acres
- Built in 2019 with brick veneer and frame construction
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
$17,442
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
6.34%
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%
$348,840
$348.8K
Cap Rate 7%
$249,171
$249.2K
Cap Rate 9%
$193,800
$193.8K
Market Conditions
NOI Build-Up for 2,086 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
$26.3K $12.60/SF
− Vacancy
−$1.4K −$0.66/SF
EGI
$24.9K $11.94/SF
− OpEx
−$7.5K −$3.58/SF
NOI
$17.4K $8.36/SF
Area
Sumner 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%
$348,840
Cap Rate 7%
$249,171
Cap Rate 9%
$193,800
Alternative Uses
Best Use
Multifamily LT 5
$249.2K
$218.0K – $290.7K
NOI $17,442 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$229.8K
$201.1K – $268.1K
NOI $16,087 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$442.9K
$387.5K – $516.7K
NOI $31,000 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Explore this area
Business Placement
Demographics for 67152, KS
9,019
Population
4,288
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
233.9 sq mi
ZIP Area
39
Density / Sq Mi
$50,836
Median Household Income
$36,042
Median Earnings
$814
Median Rent
$105,100
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 - Two all-electric units offer established occupancy, public water service, and included kitchen appliances.
Where is this duplex located?
The property is located at 1027-1029 N H St Wellington, KS.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Fully occupied duplex with consistent leasing history; 2086 square feet on 0.206 acres; Built in 2019 with brick veneer and frame construction
