Duplex Property with Workshop
For Sale
$389,900
215 Prather St, Mulvane, KS 67110
Two separate residences share one lot, offering flexible living arrangements and distinct utility services for the secondary home.
Property Size4,052 SF
Price / SF$96.22
Days on Market132
Property Features for 215 Prather St
General Information
Standard status
Active
Size
4,052 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/3BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,788
Building Details
Buildings
3
Listing Agency:
LPT Realty
(316) 445-9500
Listed By:
Melody Rogers
(316) 766-6480
Source:
Exprealty
Added: Jun 19
Changed: Oct 26
Last Checked: Oct 26 at 6:17PM
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 LPT Realty
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Investment Insights
Based on property information with market context.
This duplex property includes two separate single-family residences on one lot, with 4052 total square feet of living space. The primary home offers 3 bedrooms and 3 bathrooms, hardwood flooring on the main level, a finished view-out basement with newer carpeting, a sunroom, walk-in pantry, and main-floor laundry. It also has a newer roof and outdoor A/C unit. An oversized detached workshop/garage adds substantial auxiliary space.
The second residence, built in 1951, contains 2 bedrooms, 1 bathroom, and 988 square feet of living area. Separate utilities and a private fence provide functional separation from the main home. The property has no HOA or special taxes, according to the provided information.
The second residence, built in 1951, contains 2 bedrooms, 1 bathroom, and 988 square feet of living area. Separate utilities and a private fence provide functional separation from the main home. The property has no HOA or special taxes, according to the provided information.
Key Highlights
- Two single‑family homes on one lot
- 4052 total square feet of living space
- Primary home includes 3 bedrooms and 3 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,880
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$677,600
$677.6K
Cap Rate 7%
$484,000
$484.0K
Cap Rate 9%
$376,444
$376.4K
Market Conditions
NOI Build-Up for 4,052 SF
Gross rent
$51.1K $12.60/SF
− Vacancy
−$2.7K −$0.66/SF
EGI
$48.4K $11.94/SF
− OpEx
−$14.5K −$3.58/SF
NOI
$33.9K $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 Rate 5%
$677,600
Cap Rate 7%
$484,000
Cap Rate 9%
$376,444
Alternative Uses
Best Use
Multifamily LT 5
$484.0K
$423.5K – $564.7K
NOI $33,880 @ 7.0% cap · market cap 8.69%
Second Best
Apartment 5plus
$446.4K
$390.6K – $520.8K
NOI $31,249 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$844.6K
$739.0K – $985.3K
NOI $59,119 @ 7.0% cap · market cap 15.16%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
207
Businesses Nearby
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Business Placement
Demographics for 67110, KS
8,263
Population
3,394
Households
2.4
Avg Household Size
39
Median Age
30%
College-Educated
97%
High-School Grad
54.3 sq mi
ZIP Area
152
Density / Sq Mi
$73,387
Median Household Income
$44,226
Median Earnings
$1,190
Median Rent
$179,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences share one lot, offering flexible living arrangements and distinct utility services for the secondary home.
Where is this duplex located?
The property is located at 215 Prather St Mulvane, KS.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Two single‑family homes on one lot; 4052 total square feet of living space; Primary home includes 3 bedrooms and 3 bathrooms
