Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Corner-Lot Triplex with Separate Entrances Title is generated by Realmo AI

    306 North Schiller Avenue, Ellinwood, KS 67526

    View on Map
    Claim this Listing
    New
    For Sale
    Contact for pricing

    Triplex with three separate entrances and tenant-paid utilities, including lawn maintenance and trash, near Ellinwood schools.

    Type:Multifamily
    Property size:
    1,636 SF
    Added:
    Jun 1, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 6 at 5:36 am

    Property Features for 306 North Schiller Avenue

    General Information

    Standard status
    Active
    Size
    1,636 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1925

    We can help!

    Listing Contact
    Braden McCurdy
    Braden McCurdy

    Listing agent Braden McCurdy License #KS BR00052737

    Listing office McCurdy Real Estate & Auction, LLC

    Listing date Jun 1, 2026

    Source Crexi

    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 McCurdy Real Estate & Auction, LLC

    HighLights

    • 1925‑built triplex in Ellinwood on a corner lot with three separate entrances
    • Unit 1: 2 bed / 1 bath, currently rented at $590/month on a month‑to‑month basis
    • Unit 2: 2 bed / 1 bath, currently rented at $650/month with lease expiration 2/28/27
    • Unit 3: 1 bed / 1 bath, currently rented at $710/month on a month‑to‑month basis
    • Tenants pay all utilities, including lawn maintenance and trash
    • Billed monthly rent totals $1,950; offered at online‑only auction with 10% buyer’s premium

    Overview

    This corner-lot triplex offers separate entrances for its three residential units, creating straightforward, independently accessed living space. Unit 1 is a 2-bedroom, 1-bathroom unit rented on a month-to-month basis. Unit 2 is a 2-bedroom, 1-bathroom unit rented at a set rate with a lease expiration date of 2/28/27. Unit 3 is a 1-bedroom, 1-bathroom unit rented on a month-to-month basis. Tenants are responsible for all utilities, including lawn maintenance and trash.

    The property is located in Ellinwood, Kansas, next to Ellinwood Middle and High Schools, which provides a clear, school-adjacent setting. With a corner-lot arrangement and separate entries, the layout is designed to support distinct unit access while keeping day-to-day operations manageable.

    From an owner-operator or investor perspective, the rental income is supported by three occupied units. The current rents total $1,950 per month across the property’s three units, with a mix of month-to-month and one unit with a defined expiration date of 2/28/27. The triplex is offered as an online-only auction, with a 10% buyer’s premium added to the final bid. Bidding opens Tuesday, June 16, 2026 at 2 PM (ct) and closes Thursday, June 25, 2026 at 3:15 PM (ct), with preview available by appointment.
    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
    -98.5779221
    Latitude
    38.3573132

    FAQs

    What type of property is this?
    Triplex - Triplex with three separate entrances and tenant-paid utilities, including lawn maintenance and trash, near Ellinwood schools.
    Where is this triplex located?
    The property is located at 306 North Schiller Avenue Ellinwood, KS.
    What are key features of this property?
    This property features: 1925‑built triplex in Ellinwood on a corner lot with three separate entrances; Unit 1: 2 bed / 1 bath, currently rented at $590/month on a month‑to‑month basis; Unit 2: 2 bed / 1 bath, currently rented at $650/month with lease expiration 2/28/27
    (316) 683-0612 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Braden McCurdy
    Braden McCurdy
    Real Estate License ID: KS BR00052737
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    306 North Schiller Avenue, Ellinwood, KS 67526
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!