Wichita Duplex with Modern
For Sale
Contact for pricing
12953-12955 E Blake Street, Wichita, KS 67230
Duplex in Southeast Wichita featuring modern kitchens and spacious layouts.
Property Size2,424 SF
Price / SF$158.83
Days on Market240
Property Features for 12953-12955 E Blake Street
General Information
Standard status
Active
Size
2,424 SF
Class
A
Property subtype
Multifamily
Zoning
MF duplex
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$21,000
Building Details
Year Built
2025
Buildings
1
Stories
1
Units
2
Listing Agency:
Russell Real Resources
(316) 516-7417
Listed By:
Bree Russell, CCIM · License #BR SP00218596
Source:
Crexi
Added: Jan 3
Changed: Aug 24
Last Checked: Aug 30 at 5:52PM
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 Russell Real Resources
Investment Insights
Based on property information with market context.
This duplex features a functional three-bedroom floor plan on each side, with two full bathrooms and a large two-car garage. It is located in Southeast Wichita, offering convenient access to highways, schools, shopping, and McConnell Air Force Base. Each unit includes a spacious primary suite with a private bathroom and walk-in closet. The open-concept living and dining area is suitable for entertaining. The modern kitchen features a large peninsula eating bar and a walk-in pantry for extra storage. Quartz countertops are installed in the kitchen and both bathrooms. Each unit also has a separate laundry area and a patio for outdoor living space with a fully fenced backyard. Nine-foot and vaulted ceilings throughout the home create a spacious feel. All kitchen appliances are provided, including a refrigerator, and washer/dryer hookups are available. The HOA covers all yard mowing and upholds neighborhood covenants. Tenants are responsible for all utilities. The property size is 2424 square feet.
Key Highlights
- Convenient location near highways, schools, shopping, and McConnell AFB.
- Spacious primary suite** with private bathroom and walk‑in closet.
- Modern kitchen** with quartz countertops, large peninsula eating bar, walk‑in pantry, and all appliances included.
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
5.19%
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 5.19%
Second Best
Apartment 5plus
$265.7K
$232.5K – $309.9K
NOI $18,596 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$600.2K
$525.2K – $700.2K
NOI $42,013 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Duplex in Southeast Wichita featuring modern kitchens and spacious layouts.
Where is this duplex located?
The property is located at 12953-12955 E Blake Street Wichita, KS.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Convenient location near highways, schools, shopping, and McConnell AFB.; Spacious primary suite** with private bathroom and walk‑in closet.; Modern kitchen** with quartz countertops, large peninsula eating bar, walk‑in pantry, and all appliances included.
