Two-Unit Duplex with
New
For Sale
$378,900
2625 W 55th St N, Wichita, KS 67204
Residential Income, Wichita, KS
Property Size2,352 SF
Lot Size0.24 Acres
Price / SF$161.10
Days on Market4
Property Features for 2625 W 55th St N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
4
Subdivision
Northgate
Elementary school
Valley Center
Middle school
Valley Center
High school
Valley Center
Elementary school district
Valley Center Pub School (USD 262)
Middle school district
Valley Center Pub School (USD 262)
High school district
Valley Center Pub School (USD 262)
Directions
From 53rd St North and Meridian Avenue take Meridian north to 55th St, turn left (West).
Standard status
Active
APN
30015028
Size
2,352 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 8 BLOCK D NORTHGATE 4TH ADDITION
Tax Annual Amount
4165
HOA Fee
$1,500 Annually
Legal Description
LOT 8 BLOCK D NORTHGATE 4TH ADDITION
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air, Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
2020
Number of units
2
Flooring type
Concrete, Wood
Building materials
Brick Veneer, Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Angela Lujano
(316) 617-1422
Added: Sep 18
Last Checked: Sep 21 at 9:06PM
MLS# 679325
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.
Completed in 2020, this duplex contains 2,352 square feet arranged as two separate residences. Each unit provides 3 bedrooms, 2 bathrooms, an attached 2-car garage, LVP flooring in the living areas, and contemporary finishes. Brick veneer and frame construction, composition roofing, forced-air natural gas heating, and electric cooling serve the property.
The property occupies 0.2355 acres at 2625 W 55th St N in Wichita, KS 67204. Public water and natural gas availability are listed for the site. Its two-unit configuration supports separate residential occupancy within a single income-producing property.
The property occupies 0.2355 acres at 2625 W 55th St N in Wichita, KS 67204. Public water and natural gas availability are listed for the site. Its two-unit configuration supports separate residential occupancy within a single income-producing property.
Key Highlights
- Built in 2020 with 2,352 square feet of total property size
- Two units, each with 3 bedrooms and 2 bathrooms
- Attached 2‑car garage for each residence
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
$19,396
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
5.12%
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%
$387,920
$387.9K
Cap Rate 7%
$277,086
$277.1K
Cap Rate 9%
$215,511
$215.5K
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
$29.6K $12.60/SF
− Vacancy
−$1.9K −$0.82/SF
EGI
$27.7K $11.78/SF
− OpEx
−$8.3K −$3.53/SF
NOI
$19.4K $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%
$387,920
Cap Rate 7%
$277,086
Cap Rate 9%
$215,511
Alternative Uses
Best Use
Multifamily LT 5
$277.1K
$242.5K – $323.3K
NOI $19,396 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$257.8K
$225.5K – $300.7K
NOI $18,043 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$582.4K
$509.6K – $679.4K
NOI $40,765 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
87
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Recently built income property with matching three-bedroom residences, private garages, and contemporary interior finishes.
Where is this duplex located?
The property is located at 2625 W 55th St N Wichita, KS.
What is the asking price?
The asking price for this property is $378,900.
What are key features of this property?
This property features: Built in 2020 with 2,352 square feet of total property size; Two units, each with 3 bedrooms and 2 bathrooms; Attached 2‑car garage for each residence
