10-Bedroom Duplex with Converted
For Sale
$470,000
2965 S Bunker Hl, Wichita, KS 67210
Upgraded duplex with spacious layouts, modern finishes, and converted garage suites offering flexible living arrangements.
Property Size3,834 SF
Price / SF$122.59
Days on Market21
Property Features for 2965 S Bunker Hl
General Information
Standard status
Active
Size
3,834 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,780
Listing Agency:
Superior Realty
(316) 516-0139
Listed By:
Basem Krichati · License #BR00220971
(316) 516-0139
Source:
Exprealty
Added: Aug 11
Changed: Aug 30
Last Checked: Aug 30 at 10:10PM
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 Superior Realty
Investment Insights
Based on property information with market context.
This duplex contains two units totaling 3,834 square feet, with 5 bedrooms and 3 bathrooms per side. Both residences include converted garage suites, LVP flooring, granite countertops, walk-in closets, walk-in pantries, full appliance packages, window blinds, and large windows. The layouts provide substantial living space along with private suite areas that can support guest, multigenerational, or caregiver accommodations.
The property is located at 2965 S Bunker Hl in Wichita, Kansas. Its two-unit configuration offers separate residential spaces within one asset, while the included appliances and installed blinds simplify occupancy and ongoing use.
The property is located at 2965 S Bunker Hl in Wichita, Kansas. Its two-unit configuration offers separate residential spaces within one asset, while the included appliances and installed blinds simplify occupancy and ongoing use.
Key Highlights
- Two‑unit duplex with 10 total bedrooms and 6 total bathrooms
- Each unit includes 5 bedrooms and 3 bathrooms
- 3,834 square feet of total property size
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
$31,618
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
6.73%
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%
$632,360
$632.4K
Cap Rate 7%
$451,686
$451.7K
Cap Rate 9%
$351,311
$351.3K
Market Conditions
NOI Build-Up for 3,834 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
$48.3K $12.60/SF
− Vacancy
−$3.1K −$0.82/SF
EGI
$45.2K $11.78/SF
− OpEx
−$13.6K −$3.53/SF
NOI
$31.6K $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%
$632,360
Cap Rate 7%
$451,686
Cap Rate 9%
$351,311
Alternative Uses
Best Use
Multifamily LT 5
$451.7K
$395.2K – $527.0K
NOI $31,618 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$420.2K
$367.7K – $490.2K
NOI $29,413 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$949.3K
$830.7K – $1.11M
NOI $66,452 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Explore this area
Business Placement
Demographics for 67210, KS
8,705
Population
3,676
Households
2.4
Avg Household Size
30
Median Age
20%
College-Educated
78%
High-School Grad
12.4 sq mi
ZIP Area
702
Density / Sq Mi
$52,966
Median Household Income
$29,459
Median Earnings
$905
Median Rent
$180,700
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 - Upgraded duplex with spacious layouts, modern finishes, and converted garage suites offering flexible living arrangements.
Where is this duplex located?
The property is located at 2965 S Bunker Hl Wichita, KS.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Two‑unit duplex with 10 total bedrooms and 6 total bathrooms; Each unit includes 5 bedrooms and 3 bathrooms; 3,834 square feet of total property size
