Ranch Duplex with Attached
New
For Sale
$189,900
2787 S CEDAR CREST ST, Wichita, KS 67215
Residential, Wichita, KS
Property Size1,232 SF
Lot Size0.18 Acres
Price / SF$154.14
Days on Market6
Property Features for 2787 S CEDAR CREST ST
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Kitchen, Laundry Room, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Walk-In Closet(s)
Exterior features
Guttering - ALL, Sprinkler System, Zero Step Entry, Frame w/Less than 50% Mas
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Range
Subdivision
Bridger Pawnee Addition - Pawnee Crossing
Lot features
Standard
Elementary school
Amelia Earhart
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
Turn east off of 119th st. onto Graber st. Continue east until turning north onto Cedar Crest.
Standard status
Active
APN
30028704
Size
1,232 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
LOT 11 BLOCK A BRIDGER PAWNEE ADDITION
Tax Annual Amount
7
HOA Fee
$85 Annually
Legal Description
LOT 11 BLOCK A BRIDGER PAWNEE ADDITION
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas, Forced Air
Cooling system
Electric, Central Air
Amenities
luxury vinyl plank flooring
walk-in pantry
bar seating
kitchen appliances
pond view
zero entry doors
Building Details
Year built
2026
Floors in Building
1
Roof type
Composition
Architectural style
Ranch
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 19
Last Checked: Sep 21 at 9:06PM
MLS# 679211
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 ranch-style duplex is under construction and measures 1,232 square feet on a 0.18-acre parcel. The layout includes three bedrooms, two bathrooms, a laundry room, and an attached two-car garage. Zero-step entry is provided at the front and side doors, while luxury vinyl plank flooring extends throughout the property.
The kitchen is arranged with a walk-in pantry and bar seating and includes a range, microwave, refrigerator, dishwasher, and disposal. Natural gas forced-air heating and central air conditioning support year-round comfort. The east-facing property overlooks a pond, with a patio, guttering, and an in-ground sprinkler system among the exterior features. Completion is identified for 2026.
The kitchen is arranged with a walk-in pantry and bar seating and includes a range, microwave, refrigerator, dishwasher, and disposal. Natural gas forced-air heating and central air conditioning support year-round comfort. The east-facing property overlooks a pond, with a patio, guttering, and an in-ground sprinkler system among the exterior features. Completion is identified for 2026.
Key Highlights
- Duplex under construction with a 2026 completion year
- 1,232 square feet on a 0.18‑acre parcel
- Three bedrooms, two bathrooms, and a two‑car attached 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
$10,160
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%
$203,200
$203.2K
Cap Rate 7%
$145,143
$145.1K
Cap Rate 9%
$112,889
$112.9K
Market Conditions
NOI Build-Up for 1,232 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
$15.5K $12.60/SF
− Vacancy
−$1.0K −$0.82/SF
EGI
$14.5K $11.78/SF
− OpEx
−$4.4K −$3.53/SF
NOI
$10.2K $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%
$203,200
Cap Rate 7%
$145,143
Cap Rate 9%
$112,889
Alternative Uses
Best Use
Multifamily LT 5
$145.1K
$127.0K – $169.3K
NOI $10,160 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$135.0K
$118.1K – $157.5K
NOI $9,451 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$305.0K
$266.9K – $355.9K
NOI $21,353 @ 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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - East-facing property offers zero-step access, pond views, and a kitchen equipped for everyday use.
Where is this duplex located?
The property is located at 2787 S CEDAR CREST ST Wichita, KS.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Duplex under construction with a 2026 completion year; 1,232 square feet on a 0.18‑acre parcel; Three bedrooms, two bathrooms, and a two‑car attached garage
