Newer Duplex with
For Sale
$340,000
Pending
2325 N Burns Ave, Wichita, KS 67204
Two-unit property offers newer construction, attached garages, and one occupied side with the other available for occupancy.
Property Size2,318 SF
Days on Market11
Property Features for 2325 N Burns Ave
General Information
Standard status
Pending
Size
2,318 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,034
Listing Agency:
High Point Realty, LLC
(316) 990-5740
Listed By:
Bobby Armstrong · License #00242566
(316) 990-0712
Source:
Exprealty
Added: Sep 11
Changed: Sep 20
Last Checked: Sep 21 at 12:39PM
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 High Point Realty, LLC
Investment Insights
Based on property information with market context.
This duplex contains 2,318 square feet across two residential units, each with 3 bedrooms, 2 bathrooms, and an attached 1-car garage. Both layouts include a primary suite with a private bathroom and walk-in closet. Built three years ago, the property offers relatively recent construction and straightforward upkeep. One side is currently rented, while the second side is vacant and available for occupancy.
The property is located minutes from the Riverside area with access to nearby highways. No special taxes apply to the property.
The property is located minutes from the Riverside area with access to nearby highways. No special taxes apply to the property.
Key Highlights
- 2,318‑square‑foot duplex with two residential units
- Each unit includes 3 bedrooms, 2 bathrooms, and an attached 1‑car garage
- Primary suites feature private bathrooms and walk‑in closets
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
$19,116
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
5.62%
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%
$382,320
$382.3K
Cap Rate 7%
$273,086
$273.1K
Cap Rate 9%
$212,400
$212.4K
Market Conditions
NOI Build-Up for 2,318 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
$29.2K $12.60/SF
− Vacancy
−$1.9K −$0.82/SF
EGI
$27.3K $11.78/SF
− OpEx
−$8.2K −$3.53/SF
NOI
$19.1K $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%
$382,320
Cap Rate 7%
$273,086
Cap Rate 9%
$212,400
Alternative Uses
Best Use
Multifamily LT 5
$273.1K
$239.0K – $318.6K
NOI $19,116 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$254.0K
$222.3K – $296.4K
NOI $17,783 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$573.9K
$502.2K – $669.6K
NOI $40,176 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
372
Businesses Nearby
Explore this area
Business Placement
Demographics for 67204, KS
21,932
Population
9,424
Households
2.3
Avg Household Size
38
Median Age
24%
College-Educated
79%
High-School Grad
16.1 sq mi
ZIP Area
1,362
Density / Sq Mi
$68,549
Median Household Income
$39,258
Median Earnings
$976
Median Rent
$148,900
Median Home Value
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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-unit property offers newer construction, attached garages, and one occupied side with the other available for occupancy.
Where is this duplex located?
The property is located at 2325 N Burns Ave Wichita, KS.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 2,318‑square‑foot duplex with two residential units; Each unit includes 3 bedrooms, 2 bathrooms, and an attached 1‑car garage; Primary suites feature private bathrooms and walk‑in closets
