Ranch Duplexes with Zero Step
For Sale
$189,900
2865 S Cedar Crest Ct, Wichita, KS 67215
SINGLE_FAMILY - Ranch - Wichita, KS
Property Size1,195 SF
Lot Size0.21 Acres
Price / SF$158.91
Days on Market108
Property Features for 2865 S Cedar Crest Ct
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 3, Kitchen, Bathroom 2, Bedroom 2, Laundry Room
Window features
Storm Window(s)
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Walk-In Closet(s), Window Coverings-All
Exterior features
Guttering - ALL, Sprinkler System, Zero Step Entry, Frame w/Less than 50% Mas
Fireplace
1
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Range
Subdivision
NONE LISTED ON TAX RECORD
Lot features
Cul-De-Sac, Standard
Elementary school
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
119th and Pawnee, South on 119th half mile to Graber. East on Graber. South to Cedarcrest Ct.
Standard status
Active
APN
30028820
Size
1,195 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 46 Blk C Bridger Pawnee Addition
Tax Annual Amount
2
HOA Fee
$1,020 Annually
Legal Description
Lot 46 Blk C Bridger Pawnee Addition
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air, Natural Gas
Cooling system
Electric, Central Air
Building Details
Year built
2026
Floors in Building
1
Flooring type
Laminate
Roof type
Composition
Architectural style
Ranch
Listing Agency:
RE/MAX Premier · RE/MAX International
(316) 773-2707
Listed By:
Karen Hampton · License #00052101
(316) 641-9442
Added: Apr 26
Changed: Aug 5
Last Checked: Aug 11 at 6:06PM
MLS# 671934
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.
Duplexes (twin-home plan) under construction with ranch architecture and zero step entry access. Each home is set up with three bedrooms, two bathrooms, and a two-car garage. Interior features include ceiling fans, walk-in closet(s), and window coverings, with a living room electric fireplace. Finishes highlighted in the plan include granite/quartz countertops, luxury vinyl tile flooring, and enameled white trim. The kitchen includes a separate eating island, a large walk-in pantry, and stainless steel appliances: range, dishwasher, built-in microwave, and refrigerator. A separate laundry room sits off the garage, and the primary suite includes a master bath with a walk-in shower plus a large walk-in closet. Appliances included are range, dishwasher, microwave, disposal, and refrigerator.
Exterior amenities include a patio, fully landscaped fenced yard, and a sprinkler system supported by a shared irrigation well. Additional exterior features noted are guttering, zero step entry, and frame construction with less than 50% masonry. Natural gas and central air (with electric cooling) are part of the forced-air system, and the roof is composition.
The property is on a 0.21-acre lot, with a 2026 year built. Interior details and finishes may vary slightly since photos are representative of another property with the same plan; buyers should verify all information.
Exterior amenities include a patio, fully landscaped fenced yard, and a sprinkler system supported by a shared irrigation well. Additional exterior features noted are guttering, zero step entry, and frame construction with less than 50% masonry. Natural gas and central air (with electric cooling) are part of the forced-air system, and the roof is composition.
The property is on a 0.21-acre lot, with a 2026 year built. Interior details and finishes may vary slightly since photos are representative of another property with the same plan; buyers should verify all information.
Key Highlights
- Under construction duplex (twin‑home plan) with ranch design and zero step entry
- Three bedrooms, two bathrooms, and a two‑car garage per home
- Electric fireplace in the living room plus granite/quartz countertops and luxury vinyl tile flooring
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
$9,855
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
5.19%
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%
$197,100
$197.1K
Cap Rate 7%
$140,786
$140.8K
Cap Rate 9%
$109,500
$109.5K
Market Conditions
NOI Build-Up for 1,195 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
$15.1K $12.60/SF
− Vacancy
−$979 −$0.82/SF
EGI
$14.1K $11.78/SF
− OpEx
−$4.2K −$3.53/SF
NOI
$9.9K $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%
$197,100
Cap Rate 7%
$140,786
Cap Rate 9%
$109,500
Alternative Uses
Best Use
Multifamily LT 5
$140.8K
$123.2K – $164.3K
NOI $9,855 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$131.0K
$114.6K – $152.8K
NOI $9,167 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$295.9K
$258.9K – $345.2K
NOI $20,712 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2
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
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 - Zero step entry ranch duplexes under construction with three bedrooms, two baths, and a two-car garage.
Where is this duplex located?
The property is located at 2865 S Cedar Crest Ct 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: Under construction duplex (twin‑home plan) with ranch design and zero step entry; Three bedrooms, two bathrooms, and a two‑car garage per home; Electric fireplace in the living room plus granite/quartz countertops and luxury vinyl tile flooring
