Newer Three-Bedroom
For Sale
$368,000
4463-4465 N Sandplum St, Wichita, KS 67205
Two attached residences offer modern finishes, private fenced yards, and low-maintenance exterior care through an HOA.
Property Size2,332 SF
Price / SF$157.80
Days on Market39
Property Features for 4463-4465 N Sandplum St
General Information
Standard status
Active
Size
2,332 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2023
Buildings
1
Listing Agency:
Russell Real Resources LLC
(316) 516-7417
Listed By:
Bree Russell · License #BRSP00218596
Source:
Highpointks
Added: Jul 24
Changed: Aug 30
Last Checked: Aug 30 at 7:13PM
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.
Built in 2023, this 2,332-square-foot duplex includes two attached residences with a functional split-bedroom layout. Each side provides three bedrooms, two full bathrooms, a two-car garage, a kitchen with granite surfaces and a walk-in pantry, LVP flooring, and 9-foot ceilings. Covered patios open to spacious rod-iron-fenced backyards.
The property is located in Wichita's Maize High School District near K96 Highway. HOA services include lawn care, mowing, sprinkler maintenance, and well water. Tenants are responsible for utilities and trash. The duplex may also be sold as part of a package of up to 15 duplexes.
The property is located in Wichita's Maize High School District near K96 Highway. HOA services include lawn care, mowing, sprinkler maintenance, and well water. Tenants are responsible for utilities and trash. The duplex may also be sold as part of a package of up to 15 duplexes.
Key Highlights
- 2023‑built duplex totaling 2,332 square feet
- Each unit includes 3 bedrooms, 2 full bathrooms, and a 2‑car garage
- Modern interiors feature LVP flooring, granite, walk‑in pantries, and 9‑foot ceilings
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
$19,499
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
5.30%
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%
$389,980
$390.0K
Cap Rate 7%
$278,557
$278.6K
Cap Rate 9%
$216,656
$216.7K
Market Conditions
NOI Build-Up for 2,332 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
$29.4K $12.60/SF
− Vacancy
−$1.5K −$0.66/SF
EGI
$27.9K $11.94/SF
− OpEx
−$8.4K −$3.58/SF
NOI
$19.5K $8.36/SF
Area
ZIP 67205
Vacancy
5.20%
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%
$389,980
Cap Rate 7%
$278,557
Cap Rate 9%
$216,656
Alternative Uses
Best Use
Multifamily LT 5
$278.6K
$243.7K – $325.0K
NOI $19,499 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$256.9K
$224.8K – $299.8K
NOI $17,985 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$495.1K
$433.2K – $577.6K
NOI $34,655 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
Explore this area
Business Placement
Demographics for 67205, KS
20,461
Population
7,467
Households
2.7
Avg Household Size
40
Median Age
50%
College-Educated
98%
High-School Grad
16.9 sq mi
ZIP Area
1,211
Density / Sq Mi
$120,630
Median Household Income
$65,457
Median Earnings
$1,237
Median Rent
$314,200
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 attached residences offer modern finishes, private fenced yards, and low-maintenance exterior care through an HOA.
Where is this duplex located?
The property is located at 4463-4465 N Sandplum St Wichita, KS.
What is the asking price?
The asking price for this property is $368,000.
What are key features of this property?
This property features: 2023‑built duplex totaling 2,332 square feet; Each unit includes 3 bedrooms, 2 full bathrooms, and a 2‑car garage; Modern interiors feature LVP flooring, granite, walk‑in pantries, and 9‑foot ceilings
