Three-Bedroom Residential Income
New
For Sale
$355,000
2519-2521 W 55th St N, Wichita, KS 67204
Granite counters, included kitchen appliances, and HOA-managed mowing and sprinklers support straightforward upkeep.
Property Size2,352 SF
Price / SF$150.94
Days on Market3
Property Features for 2519-2521 W 55th St N
General Information
Standard status
Active
Size
2,352 SF
Property subtype
Multi-Family
Building Details
Year Built
2020
Listing Agency:
Russell Real Resources LLC
Listed By:
Bree Russell · License #BRSP00218596
(316) 516-7417
Source:
Highpointks
Added: Sep 24
Last Checked: Sep 24 at 2:32PM
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 Russell Real Resources LLC
Investment Insights
Based on property information with market context.
Built in 2020, this 2,352-square-foot residential income property features a split three-bedroom layout and two full bathrooms. Interior finishes include granite countertops and white trim, with kitchen appliances included. A partially covered patio opens to a fenced backyard with privacy fencing along the sides.
The HOA manages neighborhood mowing and sprinkler systems, providing shared upkeep of those areas.
The HOA manages neighborhood mowing and sprinkler systems, providing shared upkeep of those areas.
Key Highlights
- 2,352 square feet; built in 2020
- Split three‑bedroom floor plan with two full bathrooms
- Granite countertops and kitchen appliances included
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
$18,043
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
5.08%
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%
$360,860
$360.9K
Cap Rate 7%
$257,757
$257.8K
Cap Rate 9%
$200,478
$200.5K
Market Conditions
NOI Build-Up for 2,352 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
$34.7K $14.76/SF
− Vacancy
−$1.9K −$0.81/SF
EGI
$32.8K $13.95/SF
− OpEx
−$14.8K −$6.28/SF
NOI
$18.0K $7.67/SF
Area
Wichita, KS
Vacancy
5.50%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$360,860
Cap Rate 7%
$257,757
Cap Rate 9%
$200,478
Alternative Uses
Best Use
Apartment 5plus
$257.8K
$225.5K – $300.7K
NOI $18,043 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$582.4K
$509.6K – $679.4K
NOI $40,765 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
10
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Granite counters, included kitchen appliances, and HOA-managed mowing and sprinklers support straightforward upkeep.
Where is this residential income property located?
The property is located at 2519-2521 W 55th St N Wichita, KS.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 2,352 square feet; built in 2020; Split three‑bedroom floor plan with two full bathrooms; Granite countertops and kitchen appliances included
