New Construction
For Sale
$350,000
Pending
224 N Green St, Wichita, KS 67214
Residential Income, Wichita, KS
Property Size2,110 SF
Lot Size0.15 Acres
Days on Market48
Property Features for 224 N Green St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Parking
2
Subdivision
FIREBAUGHS SUBDIVISION
Elementary school
Washington
Middle school
Robinson
High school
East
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
From S Hillside & E 2nd St: West on E 2nd St, turn South on N Green St to home
Standard status
Pending
APN
087-125-22-0-13-02-007.00
Size
2,110 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 24-26 GREEN ST. FIREBAUGH'S SUB. BLK. 3 CHAUTAUQUA ADD. EXEMPT #1997-9995-TX
Tax Annual Amount
162
Legal Description
LOTS 24-26 GREEN ST. FIREBAUGH'S SUB. BLK. 3 CHAUTAUQUA ADD. EXEMPT #1997-9995-TX
Utilities
Heating system
Forced Air
Cooling system
Electric
Water source
Public
Amenities
in-unit laundry hookups
Building Details
Year built
2026
Number of units
2
Building materials
Frame
Roof type
Composition
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Edna Martinez
(316) 559-5325
Added: Jul 25
Changed: Aug 24
Last Checked: Sep 10 at 5:06AM
MLS# 676537
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 is under construction with a projected 2026 build year and offers 2,110 square feet across two residential units. Each unit includes 3 bedrooms, 2 bathrooms, an open kitchen, dining, and living arrangement, spacious bedrooms, and laundry hookups. Frame construction, composition roofing, forced-air heating, electric cooling, and public water service are specified. Contemporary finishes and modern systems are planned throughout the property.
The property occupies 0.148 acres at 224 N Green St in Wichita, Kansas, within Sedgwick County. Its two-unit configuration supports an owner-occupant arrangement with one residence available for rental, separate rental use, or multigenerational living, as described in the property information.
The property occupies 0.148 acres at 224 N Green St in Wichita, Kansas, within Sedgwick County. Its two-unit configuration supports an owner-occupant arrangement with one residence available for rental, separate rental use, or multigenerational living, as described in the property information.
Key Highlights
- 2,110‑square‑foot duplex with 2 residential units
- Each unit includes 3 bedrooms and 2 bathrooms
- Open kitchen, dining, and living areas in both units
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
$17,401
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
4.97%
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%
$348,020
$348.0K
Cap Rate 7%
$248,586
$248.6K
Cap Rate 9%
$193,344
$193.3K
Market Conditions
NOI Build-Up for 2,110 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
$26.6K $12.60/SF
− Vacancy
−$1.7K −$0.82/SF
EGI
$24.9K $11.78/SF
− OpEx
−$7.5K −$3.53/SF
NOI
$17.4K $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%
$348,020
Cap Rate 7%
$248,586
Cap Rate 9%
$193,344
Alternative Uses
Best Use
Multifamily LT 5
$248.6K
$217.5K – $290.0K
NOI $17,401 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$231.2K
$202.3K – $269.8K
NOI $16,187 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$522.4K
$457.1K – $609.5K
NOI $36,571 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,660
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature open living areas, contemporary finishes, and in-unit laundry hookups.
Where is this duplex located?
The property is located at 224 N Green St Wichita, KS.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,110‑square‑foot duplex with 2 residential units; Each unit includes 3 bedrooms and 2 bathrooms; Open kitchen, dining, and living areas in both units
