Multifamily Property With Attached
For Sale
$376,000
10602-10604 E Conifer St, Wichita, KS 67207
Eight duplex buildings offer contemporary three-bedroom residences with private patios, attached garages, and ADA-compliant units.
Property Size2,682 SF
Price / SF$140.19
Days on Market38
Property Features for 10602-10604 E Conifer St
General Information
Standard status
Active
Size
2,682 SF
Property subtype
Multi-Family
Units
Unit Mix
16 x 3BR/2BA
Multifamily Units
16
Parking per Unit
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2021
Buildings
8
Listing Agency:
Jemmima International Realty, LLC
(316) 993-1351
Listed By:
Jemmima Wanjau · License #BR00232478
Source:
Highpointks
Added: Jul 25
Changed: Aug 30
Last Checked: Aug 30 at 8:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Jemmima International Realty, LLC
Investment Insights
Based on property information with market context.
This 2021 multifamily development includes 8 duplex buildings with 16 total rental units. Each residence offers 3 bedrooms and 2 bathrooms, an open-concept layout, 9-foot ceilings, luxury vinyl plank flooring, and a private patio accessed through sliding doors. Kitchens and bathrooms feature granite countertops, while kitchens include stainless steel appliances, built-in microwaves, refrigerators, and pantries. Every unit also includes a 2-car attached garage with a keypad and opener. Six units are fully ADA-compliant.
The property is located at 10602-10604 E Conifer St in Wichita, Kansas, with proximity to retail, schools, healthcare, and major highways. Site improvements include sod, a sprinkler system, and a well for irrigation. The duplex configuration places multiple residences within a cohesive multifamily development.
The property is located at 10602-10604 E Conifer St in Wichita, Kansas, with proximity to retail, schools, healthcare, and major highways. Site improvements include sod, a sprinkler system, and a well for irrigation. The duplex configuration places multiple residences within a cohesive multifamily development.
Key Highlights
- 16 total units across 8 duplex buildings
- Six fully ADA‑compliant units
- Each unit includes 3 bedrooms and 2 bathrooms
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
$21,975
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
5.84%
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%
$439,500
$439.5K
Cap Rate 7%
$313,929
$313.9K
Cap Rate 9%
$244,167
$244.2K
Market Conditions
NOI Build-Up for 2,682 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
$32.8K $12.24/SF
− Vacancy
−$1.4K −$0.53/SF
EGI
$31.4K $11.71/SF
− OpEx
−$9.4K −$3.51/SF
NOI
$22.0K $8.19/SF
Area
ZIP 67207
Vacancy
4.37%
Lease Rate
$12.24 /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%
$439,500
Cap Rate 7%
$313,929
Cap Rate 9%
$244,167
Alternative Uses
Best Use
Multifamily LT 5
$313.9K
$274.7K – $366.3K
NOI $21,975 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$279.8K
$244.9K – $326.5K
NOI $19,589 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$578.9K
$506.5K – $675.4K
NOI $40,521 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Explore this area
Business Placement
Demographics for 67207, KS
28,143
Population
12,755
Households
2.2
Avg Household Size
34
Median Age
29%
College-Educated
88%
High-School Grad
10.4 sq mi
ZIP Area
2,706
Density / Sq Mi
$66,400
Median Household Income
$39,070
Median Earnings
$961
Median Rent
$204,600
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?
Multifamily property - Eight duplex buildings offer contemporary three-bedroom residences with private patios, attached garages, and ADA-compliant units.
Where is this multifamily property located?
The property is located at 10602-10604 E Conifer St Wichita, KS.
What is the asking price?
The asking price for this property is $376,000.
What are key features of this property?
This property features: 16 total units across 8 duplex buildings; Six fully ADA‑compliant units; Each unit includes 3 bedrooms and 2 bathrooms
