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    Ellinwood Triplex Investment Opportunity Title is generated by Realmo AI

    306 N Schiller, Ellinwood, KS 67526

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    DUPLEX - Other - Ellinwood, KS

    Type:Townhouse
    Property size:
    1,636 SF
    Lot size:
    6,000.00 Acres
    Added:
    May 21, 2026
    Days on Market:
    10
    Last Refresh:
    May 30 at 4:06 pm

    Property Features for 306 N Schiller

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Townhouse
    Parking
    3
    Parking features
    On Street
    Standard status
    Active
    APN
    209-31-0-10-26-009.00-0
    Size
    1,636 SF
    Lot size
    6,000.00 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    ELLINWOOD ORIGINAL TOWN, S31, T19, R11W, BLOCK 68, PARCEL SIZE-60'X100'; COM 80 S NECOR BLK 68 TH W1
    Tax Annual Amount
    986

    Utilities

    Utilities
    Natural Gas Available
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Window Unit(s), Electric
    Water source
    Public

    Building Details

    Year built
    1925
    Number of units
    3
    Building materials
    Metal Siding
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Isaac Klingman

    Listing agent Isaac Klingman License #00244279

    Listing office McCurdy Real Estate & Auction, LLC 12041 E 13th St N, wichita, KS

    Listing date May 21, 2026

    MLS# 673769 Listing URL

    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.

    HighLights

    • Cash‑flowing triplex generating $1,950/month in rental income.
    • Tenants pay all utilities, including lawn maintenance and trash removal.
    • Located next to Ellinwood Middle and High Schools on a corner lot.
    • Includes separate entrances for each unit.
    • Unit 2 is rented for $650/month with a lease expiring on 2/28/27.
    • Clear title at closing, with no back taxes owed.

    Overview

    This triplex is located in Ellinwood, Kansas, next to Ellinwood Middle and High Schools, and situated on a corner lot. The property includes separate entrances for each unit. Tenants are responsible for all utilities, including lawn maintenance and trash removal. Unit 1 features 2 bedrooms and 1 bathroom and is currently rented for $590 per month on a month-to-month basis. Unit 2 also has 2 bedrooms and 1 bathroom and is rented for $650 per month with a lease expiring on February 28, 2027. Unit 3 includes 1 bedroom and 1 bathroom and is currently rented for $710 per month on a month-to-month basis. The property generates a total of $1,950 per month in rental income. The property size is 1,636 square feet and the lot size is 6,000 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ellinwood
    County
    Barton
    State
    Kansas
    Longitude
    -98.577879
    Latitude
    38.357283

    FAQs

    What type of property is this?
    Triplex - Cash-flowing triplex near schools, generating $1,950 monthly.
    Where is this triplex located?
    The property is located at 306 N Schiller Ellinwood, KS.
    What are key features of this property?
    This property features: Cash‑flowing triplex generating $1,950/month in rental income.; Tenants pay all utilities, including lawn maintenance and trash removal.; Located next to Ellinwood Middle and High Schools on a corner lot.
    (316) 290-9452
    We can help!
    Listing Contact
    Isaac Klingman
    Real Estate License ID: 00244279
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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