Tenant-Occupied
For Sale
$170,000
2673 S Holyoke St, Wichita, KS 67210
Two occupied units offer three bedrooms each, with one- and two-bath configurations for varied household needs.
Property Size2,024 SF
Price / SF$83.99
Days on Market24
Property Features for 2673 S Holyoke St
General Information
Standard status
Active
Size
2,024 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
1941
Listing Agency:
Real Broker, LLC
(316) 350-7971
Listed By:
Lyn Hett
Source:
Highpointks
Added: Aug 9
Changed: Aug 31
Last Checked: Aug 31 at 7:00PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This 2,024-square-foot duplex contains two separate residences, each arranged with three bedrooms. One unit includes one bathroom, while the other provides two bathrooms, creating a distinct unit mix within the property. Both units currently have tenants in place.
Constructed in 1941, the property is located at 2673 S Holyoke St in Wichita, Kansas. Showing access is coordinated through the listing agent and property management, and tenant privacy should be maintained during the process. The seller has also indicated a willingness to include the duplex in a package with additional properties.
Constructed in 1941, the property is located at 2673 S Holyoke St in Wichita, Kansas. Showing access is coordinated through the listing agent and property management, and tenant privacy should be maintained during the process. The seller has also indicated a willingness to include the duplex in a package with additional properties.
Key Highlights
- 2,024 SF duplex with two residential units
- One 3‑bedroom, 1‑bath unit
- One 3‑bedroom, 2‑bath unit
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
$15,527
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
9.13%
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%
$310,540
$310.5K
Cap Rate 7%
$221,814
$221.8K
Cap Rate 9%
$172,522
$172.5K
Market Conditions
NOI Build-Up for 2,024 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
$29.9K $14.76/SF
− Vacancy
−$1.6K −$0.81/SF
EGI
$28.2K $13.95/SF
− OpEx
−$12.7K −$6.28/SF
NOI
$15.5K $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%
$310,540
Cap Rate 7%
$221,814
Cap Rate 9%
$172,522
Alternative Uses
Best Use
Multifamily LT 5
$238.4K
$208.6K – $278.2K
NOI $16,691 @ 7.0% cap · market cap 9.82%
Second Best
Apartment 5plus
$221.8K
$194.1K – $258.8K
NOI $15,527 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$501.1K
$438.5K – $584.7K
NOI $35,080 @ 7.0% cap · market cap 20.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Explore this area
Business Placement
Demographics for 67210, KS
8,705
Population
3,676
Households
2.4
Avg Household Size
30
Median Age
20%
College-Educated
78%
High-School Grad
12.4 sq mi
ZIP Area
702
Density / Sq Mi
$52,966
Median Household Income
$29,459
Median Earnings
$905
Median Rent
$180,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied units offer three bedrooms each, with one- and two-bath configurations for varied household needs.
Where is this duplex located?
The property is located at 2673 S Holyoke St Wichita, KS.
What is the asking price?
The asking price for this property is $170,000.
What are key features of this property?
This property features: 2,024 SF duplex with two residential units; One 3‑bedroom, 1‑bath unit; One 3‑bedroom, 2‑bath unit
