New Construction
For Sale
$378,000
Pending
12933 /12935 E Blake St., Wichita, KS 67230
Two residential units offer three-bedroom layouts, private two-car garages, and two bathrooms each.
Property Size2,424 SF
Days on Market49
Property Features for 12933 /12935 E Blake St.
General Information
Standard status
Pending
Size
2,424 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2026
Listing Agency:
Banister Real Estate LLC
(620) 755-1619
Listed By:
Andrew Reese · License #SP00233049
Source:
Highpointks
Added: Jul 14
Changed: Aug 31
Last Checked: Aug 30 at 6:51PM
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 Banister Real Estate LLC
Investment Insights
Based on property information with market context.
Planned for completion approximately 08/15/2026, this duplex includes two separate residential units at 12933 /12935 E Blake St., Wichita, KS 67230. Each unit is designed with three bedrooms, two bathrooms, a two-car garage, and 1,212 square feet of finished living space. The combined property size is 2,424 square feet, and the year built is listed as 2026.
The property information identifies Buffalo Grove as the surrounding community and notes proximity to Wichita dining and entertainment options. Listing photographs represent a previously completed duplex rather than this specific property.
The property information identifies Buffalo Grove as the surrounding community and notes proximity to Wichita dining and entertainment options. Listing photographs represent a previously completed duplex rather than this specific property.
Key Highlights
- Two‑unit duplex planned for completion approximately 08/15/2026
- Each unit includes 3 bedrooms and 2 bathrooms
- Each residence includes a 2 car garage
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
$19,990
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
5.29%
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%
$399,800
$399.8K
Cap Rate 7%
$285,571
$285.6K
Cap Rate 9%
$222,111
$222.1K
Market Conditions
NOI Build-Up for 2,424 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
$30.5K $12.60/SF
− Vacancy
−$2.0K −$0.82/SF
EGI
$28.6K $11.78/SF
− OpEx
−$8.6K −$3.53/SF
NOI
$20.0K $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%
$399,800
Cap Rate 7%
$285,571
Cap Rate 9%
$222,111
Alternative Uses
Best Use
Multifamily LT 5
$285.6K
$249.9K – $333.2K
NOI $19,990 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$265.7K
$232.5K – $309.9K
NOI $18,596 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$600.2K
$525.2K – $700.2K
NOI $42,013 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 67230, KS
12,633
Population
4,093
Households
3.1
Avg Household Size
44
Median Age
63%
College-Educated
98%
High-School Grad
9.8 sq mi
ZIP Area
1,289
Density / Sq Mi
$151,173
Median Household Income
$67,417
Median Earnings
$2,026
Median Rent
$388,400
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 three-bedroom layouts, private two-car garages, and two bathrooms each.
Where is this duplex located?
The property is located at 12933 /12935 E Blake St. Wichita, KS.
What is the asking price?
The asking price for this property is $378,000.
What are key features of this property?
This property features: Two‑unit duplex planned for completion approximately 08/15/2026; Each unit includes 3 bedrooms and 2 bathrooms; Each residence includes a 2 car garage
