New Construction
New
For Sale
$350,000
1539 S Main St, Wichita, KS 67213
Residential Income, Wichita, KS
Property Size2,110 SF
Lot Size0.16 Acres
Price / SF$165.88
Days on Market7
Property Features for 1539 S Main St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Parking
2
Subdivision
SMITH
Elementary school
Harry Street
Middle school
Hamilton
High school
West
Elementary school district
Wichita School District (USD 259)
Middle school district
Wichita School District (USD 259)
High school district
Wichita School District (USD 259)
Directions
From SE Blvd & Harry: East on Harry, turn North on S Main to home.
Standard status
Active
APN
00106986
Size
2,110 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S 22 FT LOT 170 - ALL LOT 172 & N 2 FT LOT 174 MAIN ST. R. H. SMITH'S ADD.
Tax Annual Amount
739
Legal Description
S 22 FT LOT 170 - ALL LOT 172 & N 2 FT LOT 174 MAIN ST. R. H. SMITH'S ADD.
Utilities
Heating system
Forced Air
Cooling system
Electric
Water source
Public
Amenities
in-unit laundry hookups
Building Details
Year built
2026
Number of units
2
Building materials
Frame
Roof type
Composition
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Edna Martinez
(316) 559-5325
Added: Aug 28
Last Checked: Sep 3 at 10:06AM
MLS# 678281
Copyright © 2026 South Central Kansas MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex is under construction with a planned 2026 build year and 2,110 square feet of total property size. The two-unit configuration provides a three-bedroom, two-bath layout in each residence, with kitchens, dining areas, and living rooms arranged in an open format. Both units also include laundry hookups and spacious bedrooms.
The property occupies 0.1579 acres and uses frame construction with a composition roof. Heating is provided by forced-air systems, cooling is electric, and the property is served by public water.
The property occupies 0.1579 acres and uses frame construction with a composition roof. Heating is provided by forced-air systems, cooling is electric, and the property is served by public water.
Key Highlights
- Two‑unit property with 2,110 square feet of total property size
- Each unit includes 3 bedrooms and 2 bathrooms
- Under construction with a 2026 year built
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer open layouts and in-unit laundry hookups.
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 property with 2,110 square feet of total property size; Each unit includes 3 bedrooms and 2 bathrooms; Under construction with a 2026 year built
