Duplex with Attached
New
For Sale
$379,800
2787 S Cedar Crest, Wichita, KS 67215
Residential Income, Wichita, KS
Property Size2,464 SF
Lot Size0.19 Acres
Price / SF$154.14
Days on Market6
Property Features for 2787 S Cedar Crest
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Parking
4
Parking features
Covered
Appliances
Dishwasher, Disposal, Microwave, Range, Refrigerator
Subdivision
Bridger Pawnee Addition - Pawnee Crossing
Elementary school
Apollo
Middle school
Goddard
High school
Robert Goddard
Elementary school district
Goddard School District (USD 265)
Middle school district
Goddard School District (USD 265)
High school district
Goddard School District (USD 265)
Directions
South from Kellogg onto 199th until turning east onto Graber st. then north onto cedar crest.
Standard status
Active
APN
30028704
Size
2,464 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 11 BLOCK A BRIDGER PAWNEE ADDITION
Tax Annual Amount
117
HOA Fee
$1,020 Annually
Legal Description
LOT 11 BLOCK A BRIDGER PAWNEE ADDITION
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas, Forced Air
Cooling system
Ceiling Fan(s), Multi Units, Electric
Water source
Public
Building Details
Year built
2026
Number of units
2
Building materials
Brick Veneer
Roof type
Composition
Architectural style
Other
Listing Agency:
Keller Williams Hometown Partners · Keller Williams Realty
(316) 729-8500
Listed By:
Tanner Ternes · License #00250292
(316) 670-6071
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 21 at 9:06PM
MLS# 679205
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 under-construction duplex is planned with 2,464 square feet, brick veneer construction, and an attached 2-car garage. Two zero-entry front and side doors provide accessible access, while luxury vinyl plank flooring extends throughout the property. The residence includes 3 bedrooms and 2 bathrooms, along with a kitchen arranged around bar seating and a walk-in pantry. Included appliances are a range, microwave, refrigerator, dishwasher, and disposal.
The property faces east toward a pond, creating an open outlook from the home. Additional building systems include forced-air natural gas heating, electric cooling with multiple units, ceiling fans, a composition roof, and public water service. The planned completion year is 2026, and natural gas is available at the property.
The property faces east toward a pond, creating an open outlook from the home. Additional building systems include forced-air natural gas heating, electric cooling with multiple units, ceiling fans, a composition roof, and public water service. The planned completion year is 2026, and natural gas is available at the property.
Key Highlights
- Duplex with 2,464 square feet and 0.1858 acres
- 3 bedrooms and 2 bathrooms
- Attached 2‑car garage
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
$20,320
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
5.35%
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%
$406,400
$406.4K
Cap Rate 7%
$290,286
$290.3K
Cap Rate 9%
$225,778
$225.8K
Market Conditions
NOI Build-Up for 2,464 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
$31.0K $12.60/SF
− Vacancy
−$2.0K −$0.82/SF
EGI
$29.0K $11.78/SF
− OpEx
−$8.7K −$3.53/SF
NOI
$20.3K $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%
$406,400
Cap Rate 7%
$290,286
Cap Rate 9%
$225,778
Alternative Uses
Best Use
Multifamily LT 5
$290.3K
$254.0K – $338.7K
NOI $20,320 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$270.0K
$236.3K – $315.1K
NOI $18,903 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$610.1K
$533.8K – $711.8K
NOI $42,707 @ 7.0% cap · market cap 11.24%
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
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 67215, KS
6,451
Population
2,266
Households
2.8
Avg Household Size
36
Median Age
39%
College-Educated
93%
High-School Grad
17.2 sq mi
ZIP Area
375
Density / Sq Mi
$110,329
Median Household Income
$48,691
Median Earnings
$1,336
Median Rent
$222,500
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 - Under-construction duplex with accessible entries, contemporary finishes, and pond-facing orientation in Wichita.
Where is this duplex located?
The property is located at 2787 S Cedar Crest Wichita, KS.
What is the asking price?
The asking price for this property is $379,800.
What are key features of this property?
This property features: Duplex with 2,464 square feet and 0.1858 acres; 3 bedrooms and 2 bathrooms; Attached 2‑car garage
