Residential Income
For Sale
$220,000
Pending
1830 S Griffith St, Wichita, KS 67207
Residential Income, Wichita, KS
Property Size1,536 SF
Lot Size0.20 Acres
Days on Market61
Property Features for 1830 S Griffith St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
4
Basement
Unfinished
Subdivision
CHERRY CREEK HILL 4TH
Elementary school
Beech
Middle school
Curtis
High school
Southeast
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
West on Harry from Webb, South on Cypress St, West on Funston to Griffith
Standard status
Pending
APN
087-119-32-0-13-01-017.00
Size
1,536 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 10 BLOCK 2 CHERRY CREEK HILLS FOURTH ADD.
Tax Annual Amount
2098
Legal Description
LOT 10 BLOCK 2 CHERRY CREEK HILLS FOURTH ADD.
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
1983
Number of units
2
Building materials
Brick Veneer, Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Keller Williams Hometown Partners · Keller Williams Realty
(316) 729-8500
Listed By:
Cody Arnett
(316) 416-5975
Added: Jul 3
Changed: Aug 27
Last Checked: Sep 1 at 3:06PM
MLS# 675535
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 property is a duplex-style residential income asset with a total building size of 1,536 square feet. It is offered for sale as a single multifamily property located on a 0.2033-acre lot.
The property address is 1830 S Griffith St in Wichita, Kansas 67207, within Sedgwick County.
The listing is designated for sale and classified under duplexes and residential income properties.
The property address is 1830 S Griffith St in Wichita, Kansas 67207, within Sedgwick County.
The listing is designated for sale and classified under duplexes and residential income properties.
Key Highlights
- Brick veneer and frame construction
- Built in 1983
- Heating: natural gas
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
$12,585
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
5.72%
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%
$251,700
$251.7K
Cap Rate 7%
$179,786
$179.8K
Cap Rate 9%
$139,833
$139.8K
Market Conditions
NOI Build-Up for 1,536 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
$18.8K $12.24/SF
− Vacancy
−$822 −$0.53/SF
EGI
$18.0K $11.71/SF
− OpEx
−$5.4K −$3.51/SF
NOI
$12.6K $8.19/SF
Area
ZIP 67207
Vacancy
4.37%
Lease Rate
$12.24 /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%
$251,700
Cap Rate 7%
$179,786
Cap Rate 9%
$139,833
Alternative Uses
Best Use
Multifamily LT 5
$179.8K
$157.3K – $209.8K
NOI $12,585 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$160.3K
$140.2K – $187.0K
NOI $11,219 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$331.5K
$290.1K – $386.8K
NOI $23,207 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
Explore this area
Business Placement
Demographics for 67207, KS
28,143
Population
12,755
Households
2.2
Avg Household Size
34
Median Age
29%
College-Educated
88%
High-School Grad
10.4 sq mi
ZIP Area
2,706
Density / Sq Mi
$66,400
Median Household Income
$39,070
Median Earnings
$961
Median Rent
$204,600
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 - Duplex for sale offering residential income opportunity on a 0.2033-acre lot in Wichita, KS.
Where is this duplex located?
The property is located at 1830 S Griffith St Wichita, KS.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Brick veneer and frame construction; Built in 1983; Heating: natural gas
