Updated Duplex with
New
For Sale
$200,000
1204-1206 N Jefferson, Wichita, KS 67203
Two residential units offer refreshed interiors, upgraded windows and air conditioning, and a loft in one unit.
Property Size1,378 SF
Price / SF$145.14
Days on Market2
Property Features for 1204-1206 N Jefferson
General Information
Standard status
Active
Size
1,378 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1915
Buildings
1
Listing Agency:
RE/MAX Premier
Listed By:
Sissy Koury · License #SP00229151
(316) 409-9955
Source:
Highpointks
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 2:19AM
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 RE/MAX Premier
Investment Insights
Based on property information with market context.
This 1,378-square-foot duplex, built in 1915, includes two residential units with a range of documented updates. Improvements include replacement windows, new air-conditioning systems, newer doors and faucets, fresh paint, granite surfaces, and luxury vinyl flooring. Appliances remain with the property, and one unit includes a loft for additional interior flexibility. The roof is approximately 10 years old.
Located at 1204-1206 N Jefferson in Wichita, Kansas, the property is configured as a duplex rather than a single residence, providing two separate living spaces within one asset. The updated interior finishes and included appliances create a consistent residential rental configuration while retaining the building’s original construction date and existing layout.
Located at 1204-1206 N Jefferson in Wichita, Kansas, the property is configured as a duplex rather than a single residence, providing two separate living spaces within one asset. The updated interior finishes and included appliances create a consistent residential rental configuration while retaining the building’s original construction date and existing layout.
Key Highlights
- 1,378 SF duplex built in 1915
- Two residential units, including one unit with a loft
- Replacement windows and new air‑conditioning systems
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
$12,490
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
6.25%
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%
$249,800
$249.8K
Cap Rate 7%
$178,429
$178.4K
Cap Rate 9%
$138,778
$138.8K
Market Conditions
NOI Build-Up for 1,378 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
$19.0K $13.80/SF
− Vacancy
−$1.2K −$0.85/SF
EGI
$17.8K $12.95/SF
− OpEx
−$5.4K −$3.88/SF
NOI
$12.5K $9.06/SF
Area
ZIP 67203
Vacancy
6.17%
Lease Rate
$13.80 /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%
$249,800
Cap Rate 7%
$178,429
Cap Rate 9%
$138,778
Alternative Uses
Best Use
Multifamily LT 5
$178.4K
$156.1K – $208.2K
NOI $12,490 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$164.0K
$143.5K – $191.3K
NOI $11,480 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$337.3K
$295.2K – $393.6K
NOI $23,613 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,130
Businesses Nearby
Explore this area
Business Placement
Demographics for 67203, KS
30,498
Population
14,851
Households
2.1
Avg Household Size
37
Median Age
25%
College-Educated
83%
High-School Grad
7.2 sq mi
ZIP Area
4,236
Density / Sq Mi
$50,411
Median Household Income
$33,431
Median Earnings
$921
Median Rent
$126,800
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 residential units offer refreshed interiors, upgraded windows and air conditioning, and a loft in one unit.
Where is this duplex located?
The property is located at 1204-1206 N Jefferson Wichita, KS.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 1,378 SF duplex built in 1915; Two residential units, including one unit with a loft; Replacement windows and new air‑conditioning systems
