Duplex Property with Private
For Sale
$355,000
2503-2501 W 55th St N, Wichita, KS 67204
The property includes split-bedroom layouts, full bathrooms, kitchen appliances, and HOA-managed mowing and sprinklers.
Property Size2,352 SF
Price / SF$150.94
Days on Market26
Property Features for 2503-2501 W 55th St N
General Information
Standard status
Active
Size
2,352 SF
Property subtype
Multi-Family
Building Details
Year Built
2020
Listing Agency:
Russell Real Resources LLC
(316) 516-7417
Listed By:
Bree Russell · License #BRSP00218596
Source:
Highpointks
Added: Aug 6
Changed: Aug 29
Last Checked: Aug 30 at 8:28PM
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 LLC
Investment Insights
Based on property information with market context.
Located at 2503-2501 W 55th St N, this duplex property contains 2,352 square feet and was built in 2020. The floor plan uses a split three-bedroom arrangement with two full bathrooms, separating the owner’s suite from the additional bedrooms. Interior features include granite countertops, clean white trim, and included kitchen appliances. Unit 2812 has LVP flooring.
Outdoor features include a spacious backyard, a smaller fenced yard area, and a partially covered patio bordered by wood privacy fencing. The HOA manages neighborhood mowing and sprinkler systems, providing an established approach to exterior maintenance. The property is part of Watermarke Villas in Wichita, Kansas.
Outdoor features include a spacious backyard, a smaller fenced yard area, and a partially covered patio bordered by wood privacy fencing. The HOA manages neighborhood mowing and sprinkler systems, providing an established approach to exterior maintenance. The property is part of Watermarke Villas in Wichita, Kansas.
Key Highlights
- Duplex property at 2503‑2501 W 55th St N, Wichita, KS 67204
- 2,352 SF property built in 2020
- Split three‑bedroom floor plan with two full 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
$19,396
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
5.46%
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%
$387,920
$387.9K
Cap Rate 7%
$277,086
$277.1K
Cap Rate 9%
$215,511
$215.5K
Market Conditions
NOI Build-Up for 2,352 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
$29.6K $12.60/SF
− Vacancy
−$1.9K −$0.82/SF
EGI
$27.7K $11.78/SF
− OpEx
−$8.3K −$3.53/SF
NOI
$19.4K $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%
$387,920
Cap Rate 7%
$277,086
Cap Rate 9%
$215,511
Alternative Uses
Best Use
Multifamily LT 5
$277.1K
$242.5K – $323.3K
NOI $19,396 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$257.8K
$225.5K – $300.7K
NOI $18,043 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$582.4K
$509.6K – $679.4K
NOI $40,765 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 67204, KS
21,932
Population
9,424
Households
2.3
Avg Household Size
38
Median Age
24%
College-Educated
79%
High-School Grad
16.1 sq mi
ZIP Area
1,362
Density / Sq Mi
$68,549
Median Household Income
$39,258
Median Earnings
$976
Median Rent
$148,900
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 - The property includes split-bedroom layouts, full bathrooms, kitchen appliances, and HOA-managed mowing and sprinklers.
Where is this duplex located?
The property is located at 2503-2501 W 55th St N Wichita, KS.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Duplex property at 2503‑2501 W 55th St N, Wichita, KS 67204; 2,352 SF property built in 2020; Split three‑bedroom floor plan with two full bathrooms
