New Construction Duplex with Pond
For Sale
$385,000
2924 W Denene St., Wichita, KS 67215
Twin-home property with four-bedroom layouts, quartz-finished kitchens, private fenced yards, and covered patios.
Property Size2,752 SF
Price / SF$139.90
Days on Market24
Property Features for 2924 W Denene St.
General Information
Standard status
Active
Size
2,752 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Amenities
vaulted living areas
LVP flooring
quartz countertops
walk-in pantry
covered patios
rod-iron fenced backyards
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Russell Real Resources LLC
(316) 516-7417
Listed By:
Bree Russell · License #BRSP00218596
Source:
Highpointks
Added: Aug 8
Changed: Aug 29
Last Checked: Aug 30 at 8:29PM
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 Russell Real Resources LLC
Investment Insights
Based on property information with market context.
Scheduled for completion in early September 2026, this 2,752-square-foot duplex is configured as two matching residences, each with four bedrooms and two full bathrooms. The split-bedroom layouts include primary suites with walk-in closets and showers, plus secondary bathrooms with tub-and-shower combinations. Interior features include vaulted living spaces, LVP flooring, quartz kitchen and bathroom countertops, and walk-in pantries. Covered patios extend to fenced rear yards, with the east-facing outdoor areas overlooking a reserve pond.
The property is located on W Denene St. in Wichita’s South Pointe area, south of the US54/KS400 corridor and north of K42 along Maize Road. Pawnee Prairie Park, Prairie Sunset Trail, Tex Consolver Municipal Golf Course, Eisenhower Airport, Wichita employers, and the Goddard school district are identified nearby. HOA service includes lawn care, while residents handle their own utilities.
The property is located on W Denene St. in Wichita’s South Pointe area, south of the US54/KS400 corridor and north of K42 along Maize Road. Pawnee Prairie Park, Prairie Sunset Trail, Tex Consolver Municipal Golf Course, Eisenhower Airport, Wichita employers, and the Goddard school district are identified nearby. HOA service includes lawn care, while residents handle their own utilities.
Key Highlights
- 2,752 SF duplex with two four‑bedroom residences
- Estimated completion in early September 2026
- Each unit includes 4 bedrooms, 2 full bathrooms, and a split‑bedroom plan
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
$22,695
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
5.89%
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%
$453,900
$453.9K
Cap Rate 7%
$324,214
$324.2K
Cap Rate 9%
$252,167
$252.2K
Market Conditions
NOI Build-Up for 2,752 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
$34.7K $12.60/SF
− Vacancy
−$2.3K −$0.82/SF
EGI
$32.4K $11.78/SF
− OpEx
−$9.7K −$3.53/SF
NOI
$22.7K $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%
$453,900
Cap Rate 7%
$324,214
Cap Rate 9%
$252,167
Alternative Uses
Best Use
Multifamily LT 5
$324.2K
$283.7K – $378.3K
NOI $22,695 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$301.6K
$263.9K – $351.9K
NOI $21,112 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$681.4K
$596.2K – $795.0K
NOI $47,698 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
49
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 - Twin-home property with four-bedroom layouts, quartz-finished kitchens, private fenced yards, and covered patios.
Where is this duplex located?
The property is located at 2924 W Denene St. Wichita, KS.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 2,752 SF duplex with two four‑bedroom residences; Estimated completion in early September 2026; Each unit includes 4 bedrooms, 2 full bathrooms, and a split‑bedroom plan
