Updated Duplex with
New
For Sale
$200,000
1204-1206 N Jefferson, Wichita, KS 67203
Residential Income, Wichita, KS
Property Size1,378 SF
Lot Size0.14 Acres
Price / SF$145.14
Days on Market7
Property Features for 1204-1206 N Jefferson
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Parking features
Off Street
Basement
Unfinished
Appliances
Disposal, Range, Refrigerator
Subdivision
HARRIS & SIM
Elementary school
Irving
Middle school
Marshall
High school
North
Elementary school district
Wichita School District (USD 259)
Middle school district
Wichita School District (USD 259)
High school district
Wichita School District (USD 259)
Directions
close to Riverside area. from 13th st turn South on Bitting st to 11th go east on 11th to Jefferson st turn north to home on the east side of the street Blue duplex
Standard status
Active
APN
124170210701200
Size
1,378 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N 3.5 FT LOT 1202-ALL LOT 1204 & S 12.15 FT LOT 1206 JEFFERSON AVE. HARRIS & SIM ADD.
Tax Annual Amount
806
Legal Description
N 3.5 FT LOT 1202-ALL LOT 1204 & S 12.15 FT LOT 1206 JEFFERSON AVE. HARRIS & SIM ADD.
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
1915
Number of units
2
Building materials
Block, Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
RE/MAX Premier · RE/MAX International
(316) 773-2707
Listed By:
Sissy Koury · License #SP00229151
(316) 409-9955
Added: Aug 25
Changed: Aug 26
Last Checked: Aug 31 at 2:06PM
MLS# 678055
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 at 1204-1206 N Jefferson in Wichita contains 1,378 square feet on a 0.1397-acre lot. The 1915 structure has block and frame construction, composition roofing, natural-gas forced-air heat, and electric cooling. Interior updates include granite surfaces, luxury vinyl flooring, newer faucets, fresh paint, replacement doors, windows, and air-conditioning equipment. One unit includes a loft, adding flexible interior space. The property is served by public water and includes a range, refrigerator, and disposal in the appliance package. Off-street parking is provided, and the address is located in Wichita’s 67203 ZIP code.
Key Highlights
- Duplex totaling 1,378 square feet on a 0.1397‑acre lot
- One unit includes a loft
- Interior improvements include granite, luxury vinyl flooring, newer faucets, paint, doors, windows, and AC
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-unit property with refreshed interiors, separate loft space, and off-street parking.
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: Duplex totaling 1,378 square feet on a 0.1397‑acre lot; One unit includes a loft; Interior improvements include granite, luxury vinyl flooring, newer faucets, paint, doors, windows, and AC
