Remodeled Side-by-Side
For Sale
$160,000
1952-1954 N Chautauqua Ave, Wichita, KS 67214
Updated mirror-image units provide separate two-bedroom, one-bath layouts near WSU.
Property Size1,248 SF
Price / SF$128.21
Days on Market25
Property Features for 1952-1954 N Chautauqua Ave
General Information
Standard status
Active
Size
1,248 SF
Property subtype
Multi-Family
Building Details
Year Built
1950
Listing Agency:
Exp Realty, LLC
Listed By:
Bonnie Dalleo
(860) 906-7214
Source:
Highpointks
Added: Aug 10
Changed: Aug 30
Last Checked: Sep 1 at 8:47PM
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 Exp Realty, LLC
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two mirror-image units, each with 2 bedrooms and 1 full bathroom, within 1,248 square feet. Originally built in 1950, the property has undergone extensive remodeling that includes updated electrical, plumbing, sewer drains, HVAC mini-splits with heating and cooling, roofing, gutters, siding, windows, flooring, kitchen cabinets, countertops, and garbage disposals.
Both units are occupied under month-to-month leases. The duplex is located near WSU and offers a separately configured residential income property with substantial improvements already completed.
Both units are occupied under month-to-month leases. The duplex is located near WSU and offers a separately configured residential income property with substantial improvements already completed.
Key Highlights
- Two side‑by‑side units, each with 2 bedrooms and 1 full bathroom
- 1,248 square feet across the duplex
- Extensively remodeled, including electrical, plumbing, sewer drains, roof, siding, windows, and flooring
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
$10,292
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
6.43%
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%
$205,840
$205.8K
Cap Rate 7%
$147,029
$147.0K
Cap Rate 9%
$114,356
$114.4K
Market Conditions
NOI Build-Up for 1,248 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
$15.7K $12.60/SF
− Vacancy
−$1.0K −$0.82/SF
EGI
$14.7K $11.78/SF
− OpEx
−$4.4K −$3.53/SF
NOI
$10.3K $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%
$205,840
Cap Rate 7%
$147,029
Cap Rate 9%
$114,356
Alternative Uses
Best Use
Multifamily LT 5
$147.0K
$128.7K – $171.5K
NOI $10,292 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$136.8K
$119.7K – $159.6K
NOI $9,574 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$309.0K
$270.4K – $360.5K
NOI $21,631 @ 7.0% cap · market cap 13.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
589
Businesses Nearby
Explore this area
Business Placement
Demographics for 67214, KS
15,936
Population
8,197
Households
1.9
Avg Household Size
33
Median Age
13%
College-Educated
77%
High-School Grad
5.3 sq mi
ZIP Area
3,007
Density / Sq Mi
$36,636
Median Household Income
$25,518
Median Earnings
$752
Median Rent
$72,600
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 - Updated mirror-image units provide separate two-bedroom, one-bath layouts near WSU.
Where is this duplex located?
The property is located at 1952-1954 N Chautauqua Ave Wichita, KS.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with 2 bedrooms and 1 full bathroom; 1,248 square feet across the duplex; Extensively remodeled, including electrical, plumbing, sewer drains, roof, siding, windows, and flooring
