Zero-Entry Duplex with
For Sale
$379,800
2893 W Taft Ct, Wichita, KS 67209
Fully leased twin-home property with upgraded interiors, private fenced yards, and separate laundry rooms for each residence.
Property Size2,390 SF
Price / SF$158.91
Days on Market106
Property Features for 2893 W Taft Ct
General Information
Standard status
Active
Size
2,390 SF
Total Parking Spaces
4
Property subtype
Residential Income
Occupancy
100%
Financials
Cap Rate
6.5%
HOA Fee
$170
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2.00
Amenities
granite/quartz countertops
luxury vinyl tile flooring
electric fireplace
kitchen island
walk-in pantry
stainless steel appliances
fenced yard
sprinkler system
shared irrigation well
Building Details
Buildings
1
Listing Agency:
RE/MAX Premier
(316) 641-9442
Listed By:
Karen Hampton · License #00052101
(316) 641-9442
Source:
Exprealty
Added: Apr 26
Changed: Aug 8
Last Checked: Aug 9 at 11:26AM
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 RE/MAX Premier
Investment Insights
Based on property information with market context.
This 2,390-square-foot duplex comprises two zero-entry residences, each offering three bedrooms, two bathrooms, and a two-car garage. The homes feature granite or quartz countertops, luxury vinyl tile flooring, enameled white trim, and an electric fireplace in each living room. Kitchens include an island, walk-in pantry, and stainless steel appliances. Each primary suite has a private bathroom with a walk-in shower and a walk-in closet, while a separate laundry room connects to the garage. Fenced, landscaped yards include sprinkler systems and share an irrigation well.
The property is located at 2893 W Taft Ct in Wichita’s Pawnee Crossing area, approximately one-half mile south of Pawnee on 119th, within the Goddard School district. Both sides are fully rented, and the property is reported at a 6.5% cap rate. The duplex may also suit an investor pursuing a 1031 exchange.
The property is located at 2893 W Taft Ct in Wichita’s Pawnee Crossing area, approximately one-half mile south of Pawnee on 119th, within the Goddard School district. Both sides are fully rented, and the property is reported at a 6.5% cap rate. The duplex may also suit an investor pursuing a 1031 exchange.
Key Highlights
- 2,390 SF duplex with two three‑bedroom, two‑bath residences
- Each side includes a two‑car garage and separate laundry room
- Zero‑entry layout with fenced, landscaped yards and sprinkler systems
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
$19,710
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%
$394,200
$394.2K
Cap Rate 7%
$281,571
$281.6K
Cap Rate 9%
$219,000
$219.0K
Market Conditions
NOI Build-Up for 2,390 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
$30.1K $12.60/SF
− Vacancy
−$2.0K −$0.82/SF
EGI
$28.2K $11.78/SF
− OpEx
−$8.4K −$3.53/SF
NOI
$19.7K $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%
$394,200
Cap Rate 7%
$281,571
Cap Rate 9%
$219,000
Alternative Uses
Best Use
Multifamily LT 5
$281.6K
$246.4K – $328.5K
NOI $19,710 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$261.9K
$229.2K – $305.6K
NOI $18,335 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$591.8K
$517.8K – $690.4K
NOI $41,424 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
Explore this area
Business Placement
Demographics for 67209, KS
14,217
Population
5,381
Households
2.6
Avg Household Size
38
Median Age
35%
College-Educated
94%
High-School Grad
12.3 sq mi
ZIP Area
1,156
Density / Sq Mi
$86,103
Median Household Income
$47,939
Median Earnings
$942
Median Rent
$209,900
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 - Fully leased twin-home property with upgraded interiors, private fenced yards, and separate laundry rooms for each residence.
Where is this duplex located?
The property is located at 2893 W Taft Ct 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: 2,390 SF duplex with two three‑bedroom, two‑bath residences; Each side includes a two‑car garage and separate laundry room; Zero‑entry layout with fenced, landscaped yards and sprinkler systems
