Modern Duplex with Open
For Sale
$350,000
1539 S Main St, Wichita, KS 67213
Newly built two-unit property with contemporary finishes, private laundry hookups, and flexible owner-occupant or rental use.
Property Size2,110 SF
Price / SF$165.88
Days on Market11
Property Features for 1539 S Main St
General Information
Standard status
Active
Size
2,110 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$739
Amenities
in-unit laundry hookups
Building Details
Buildings
1
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Edna Martinez
(316) 559-5325
Source:
Exprealty
Added: Aug 28
Changed: Sep 6
Last Checked: Sep 7 at 1:54PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
Located at 1539 S Main St in Wichita, this newly constructed duplex contains two residential units totaling 2,110 square feet. Each unit offers three bedrooms, two bathrooms, and an open arrangement linking the kitchen, dining area, and living room. Contemporary finishes, spacious bedrooms, and functional floor plans create a consistent design across both residences.
Both units include in-unit laundry hookups and modern systems associated with recent construction. The property can accommodate an owner-occupant seeking a separate residence within the same building, rental use across both units, or multigenerational living arrangements. Its two-unit configuration and matching layouts provide a straightforward residential income property format.
Both units include in-unit laundry hookups and modern systems associated with recent construction. The property can accommodate an owner-occupant seeking a separate residence within the same building, rental use across both units, or multigenerational living arrangements. Its two-unit configuration and matching layouts provide a straightforward residential income property format.
Key Highlights
- Two‑unit duplex at 1539 S Main St, Wichita, KS 67213
- 2,110 square feet of total property size
- Each unit includes 3 bedrooms and 2 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
$17,401
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
4.97%
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%
$348,020
$348.0K
Cap Rate 7%
$248,586
$248.6K
Cap Rate 9%
$193,344
$193.3K
Market Conditions
NOI Build-Up for 2,110 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
$26.6K $12.60/SF
− Vacancy
−$1.7K −$0.82/SF
EGI
$24.9K $11.78/SF
− OpEx
−$7.5K −$3.53/SF
NOI
$17.4K $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%
$348,020
Cap Rate 7%
$248,586
Cap Rate 9%
$193,344
Alternative Uses
Best Use
Multifamily LT 5
$248.6K
$217.5K – $290.0K
NOI $17,401 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$231.2K
$202.3K – $269.8K
NOI $16,187 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$522.4K
$457.1K – $609.5K
NOI $36,571 @ 7.0% cap · market cap 10.45%
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
478
Businesses Nearby
Explore this area
Business Placement
Demographics for 67213, KS
21,007
Population
9,788
Households
2.1
Avg Household Size
34
Median Age
13%
College-Educated
83%
High-School Grad
6.6 sq mi
ZIP Area
3,183
Density / Sq Mi
$48,015
Median Household Income
$32,186
Median Earnings
$920
Median Rent
$80,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Newly built two-unit property with contemporary finishes, private laundry hookups, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 1539 S Main St Wichita, KS.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex at 1539 S Main St, Wichita, KS 67213; 2,110 square feet of total property size; Each unit includes 3 bedrooms and 2 bathrooms
