Duplex Package With Attached
For Sale
$625,000
Pending
179 N Indian Lakes Dr & 3 Additional Units, Clearwater, KS 67026
Residential Income, Clearwater, KS
Property Size6,300 SF
Lot Size0.70 Acres
Days on Market147
Property Features for 179 N Indian Lakes Dr & 3 Additional Units
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
12
Appliances
Dishwasher, Microwave, Range, Refrigerator
Elementary school
Clearwater West
Middle school
Clearwater
High school
Clearwater
Elementary school district
Clearwater School District (USD 264)
Middle school district
Clearwater School District (USD 264)
High school district
Clearwater School District (USD 264)
Directions
From 71st St S. & 135th St. W. - South on 135th St W, East on Janet Ave, South on Indian Lakes Dr to property
Subdivision
SCKMLS
Standard status
Pending
APN
26624-30030023
Size
6,300 SF
Lot size
0.70 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PT LOT 15 BEG SE COR TH W 125 FT N 41.19 FT E 125.01 FT S 41.39 FT TO BEG BLOCK 2 INDIAN RIDGE AT CL
Tax Annual Amount
12635
HOA Fee
$408 Annually
Legal Description
PT LOT 15 BEG SE COR TH W 125 FT N 41.19 FT E 125.01 FT S 41.39 FT TO BEG BLOCK 2 INDIAN RIDGE AT CL
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas, Forced Air
Cooling system
Electric
Water source
Public
Amenities
granite countertops
stainless-steel appliances
washer/dryer hookups
covered front porches
sprinkler systems
Building Details
Year built
2024
Number of units
6
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
McCurdy Real Estate & Auction, LLC
(316) 867-3600
Listed By:
Braden McCurdy · License #BR00052737
(316) 683-0612
Added: Mar 27
Changed: Aug 20
Last Checked: Aug 20 at 6:06PM
MLS# 670401
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 package includes recently constructed residences with approximately 6,300 square feet across 0.6966 acres. The homes were built in 2024 with frame construction, slab foundations, composition roofs, natural gas forced-air heating, and electric cooling. Each residence offers an open-concept arrangement with three bedrooms, two full bathrooms, a primary suite with private bath, washer/dryer hookups, and kitchen appliances that include a refrigerator, range, dishwasher, and microwave. Kitchens feature islands, granite countertops, and stainless-steel appliances. Attached one-car garages, driveway and street parking, covered front porches, and sprinkler systems are included. The units connect at the garage walls, providing separation between residences.
The property is within Clearwater city limits at 179 N Indian Lakes Dr & 3 Additional Units, near shopping, schools, and everyday amenities. Public water and natural gas availability serve the property. Each unit has its own legal description and has already been split, with the residences offered together as one package.
The property is within Clearwater city limits at 179 N Indian Lakes Dr & 3 Additional Units, near shopping, schools, and everyday amenities. Public water and natural gas availability serve the property. Each unit has its own legal description and has already been split, with the residences offered together as one package.
Key Highlights
- 2024 construction with approximately 6,300 square feet on 0.6966 acres
- Each unit includes 3 bedrooms, 2 full bathrooms, and a 1‑car attached garage
- Kitchens feature granite countertops, islands, stainless‑steel appliances, and included refrigerator, range, dishwasher, and microwave
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
$52,677
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
8.43%
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%
$1,053,540
$1.1M
Cap Rate 7%
$752,529
$752.5K
Cap Rate 9%
$585,300
$585.3K
Market Conditions
NOI Build-Up for 6,300 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
$79.4K $12.60/SF
− Vacancy
−$4.1K −$0.66/SF
EGI
$75.3K $11.94/SF
− OpEx
−$22.6K −$3.58/SF
NOI
$52.7K $8.36/SF
Area
Sedgwick County, KS
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%
$1,053,540
Cap Rate 7%
$752,529
Cap Rate 9%
$585,300
Alternative Uses
Best Use
Multifamily LT 5
$752.5K
$658.5K – $878.0K
NOI $52,677 @ 7.0% cap · market cap 8.43%
Second Best
Apartment 5plus
$694.1K
$607.3K – $809.8K
NOI $48,586 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,917 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
66.7%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
Explore this area
Business Placement
Demographics for 67026, KS
4,980
Population
1,756
Households
2.8
Avg Household Size
40
Median Age
34%
College-Educated
98%
High-School Grad
96.3 sq mi
ZIP Area
52
Density / Sq Mi
$103,851
Median Household Income
$54,984
Median Earnings
$1,057
Median Rent
$231,700
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 - Recently built duplex residences feature open layouts, private garages, modern kitchens, and individual legal descriptions.
Where is this duplex located?
The property is located at 179 N Indian Lakes Dr & 3 Additional Units Clearwater, KS.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2024 construction with approximately 6,300 square feet on 0.6966 acres; Each unit includes 3 bedrooms, 2 full bathrooms, and a 1‑car attached garage; Kitchens feature granite countertops, islands, stainless‑steel appliances, and included refrigerator, range, dishwasher, and microwave
