Duplex Package with Leased
185 N Indian Lakes Dr & 4 Additional Units Clearwater, KS 67026
185 N Indian Lakes Dr & 4 Additional Units, Clearwater, KS, 67026
$625,000
For Sale
$625,000
MULTI_FAMILY - Other - Clearwater, KS
Property Size6,300 SF
Lot Size30,342.00 Acres
Price / SF$99.21
Days on Market117
Property Features for 185 N Indian Lakes Dr & 4 Additional Units
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Parking
- 12
- Appliances
- Dishwasher, Microwave, Range, Refrigerator
- Standard status
- Active
- APN
- 26624-30030023
- Size
- 6,300 SF
- Lot size
- 30,342.00 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
- 15189
Utilities
- Utilities
- Natural Gas Available
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Electric
- Water source
- Public
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
12041 E 13th St N, wichita, KS
Listed by
Braden McCurdy · License #BR00052737
(316) 683-0612
Added: Mar 27 Updated: Jul 18 at 3:06 am Checked: Jul 21 at 2:06 am
MLS# 670401
Listing URL
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 for-sale package comprises multiple individual duplex units sold together. The property currently has four of the six units leased, with the only listed vacancies being 185 N. Indian Lakes Dr and 186 N. Tomahawk St. As described, each unit is approximately 1,050 square feet and includes an open-concept layout with 3 bedrooms and 2 full bathrooms, plus washer/dryer hookups.
Interior features include spacious open floor plans, kitchens with large islands, granite countertops, and stainless-steel appliances. The kitchen appliances are intended to transfer with the sale, including the refrigerator, range/oven, dishwasher, and microwave. The primary suite has a private full bath and generous closet space, along with a second full bath with built-in linen/storage niches. Construction is slab-on-grade (no basement), designed for low maintenance.
Each unit includes a 1-car attached garage, with additional driveway and street parking. Units are connected at garage walls for privacy and sound buffering, and each has a covered front porch with cedar posts. Sprinkler systems are also noted, and each unit has its own legal description with the units already split, sold together as one package.
Interior features include spacious open floor plans, kitchens with large islands, granite countertops, and stainless-steel appliances. The kitchen appliances are intended to transfer with the sale, including the refrigerator, range/oven, dishwasher, and microwave. The primary suite has a private full bath and generous closet space, along with a second full bath with built-in linen/storage niches. Construction is slab-on-grade (no basement), designed for low maintenance.
Each unit includes a 1-car attached garage, with additional driveway and street parking. Units are connected at garage walls for privacy and sound buffering, and each has a covered front porch with cedar posts. Sprinkler systems are also noted, and each unit has its own legal description with the units already split, sold together as one package.
Key Highlights
- Package of 5 individual duplex units sold together (each has its own legal description; units already split).
- 4 of the 6 duplex units are currently leased for immediate income; rents include $1,295/mo (2 units) and $1,195/mo (2 units).
- Each unit is approx. 1,050 SF with 3 bedrooms and 2 full bathrooms, open‑concept layout, and primary suite with private full bath.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $79.4k | $12.60 |
| − Vacancy | −$4.1k | −$0.66 |
| EGI | $75.3k | $11.94 |
| − OpEx | −$22.6k | −$3.58 |
| NOI | $52.7k | $8.36 |
6,300 SF · lease $12.60/SF/yr · vacancy 5.20% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Package sale includes multiple duplex units with four currently leased and in-place kitchen appliance conveyance.
Where is this duplex located?
The property is located at 185 N Indian Lakes Dr & 4 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: Package of 5 individual duplex units sold together (each has its own legal description; units already split).; 4 of the 6 duplex units are currently leased for immediate income; rents include $1,295/mo (2 units) and $1,195/mo (2 units).; Each unit is approx. 1,050 SF with 3 bedrooms and 2 full bathrooms, open‑concept layout, and primary suite with private full bath.
