Duplex with Finished
For Sale
$360,000
3811 N Pepper Ridge St, Wichita, KS 67205
Two spacious residences offer private outdoor areas, attached garages, and layouts suited to long-term occupancy.
Property Size2,776 SF
Price / SF$129.68
Days on Market80
Property Features for 3811 N Pepper Ridge St
General Information
Standard status
Active
Size
2,776 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
roof replaced
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Additional Details
HOA Fee
$160
Building Details
Year Built
2005
Buildings
1
Listing Agency:
Berkshire Hathaway PenFed Realty
Listed By:
Shane Pullman
(316) 640-7375
Source:
Highpointks
Added: Jul 30
Changed: Oct 12
Last Checked: Oct 7 at 4:49PM
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 Berkshire Hathaway PenFed Realty
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Investment Insights
Based on property information with market context.
Built in 2005, this duplex contains 2 residences totaling 2,776 square feet. Each unit includes 3 bedrooms, 2 bathrooms, a finished basement, and an attached two-car garage. Private backyard areas extend the usable space for each residence, while the separate layouts support independent household living.
The property is located at 3811 N Pepper Ridge St in Wichita, within the Maize School District. HOA services include mowing and trash, while tenants are responsible for water and other utilities. Both units are occupied, and showings require 48 hours’ notice. The seller will replace the roof before closing with an acceptable offer.
The property is located at 3811 N Pepper Ridge St in Wichita, within the Maize School District. HOA services include mowing and trash, while tenants are responsible for water and other utilities. Both units are occupied, and showings require 48 hours’ notice. The seller will replace the roof before closing with an acceptable offer.
Key Highlights
- 2‑unit duplex totaling 2,776 square feet
- Each unit has 3 bedrooms, 2 bathrooms, and a finished basement
- Attached two‑car garage for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,211
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$464,220
$464.2K
Cap Rate 7%
$331,586
$331.6K
Cap Rate 9%
$257,900
$257.9K
Market Conditions
NOI Build-Up for 2,776 SF
Gross rent
$35.0K $12.60/SF
− Vacancy
−$1.8K −$0.66/SF
EGI
$33.2K $11.94/SF
− OpEx
−$9.9K −$3.58/SF
NOI
$23.2K $8.36/SF
Area
ZIP 67205
Vacancy
5.20%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$464,220
Cap Rate 7%
$331,586
Cap Rate 9%
$257,900
Alternative Uses
Best Use
Multifamily LT 5
$331.6K
$290.1K – $386.9K
NOI $23,211 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$305.8K
$267.6K – $356.8K
NOI $21,409 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$589.3K
$515.7K – $687.6K
NOI $41,254 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
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Business Placement
Demographics for 67205, KS
20,461
Population
7,467
Households
2.7
Avg Household Size
40
Median Age
50%
College-Educated
98%
High-School Grad
16.9 sq mi
ZIP Area
1,211
Density / Sq Mi
$120,630
Median Household Income
$65,457
Median Earnings
$1,237
Median Rent
$314,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two spacious residences offer private outdoor areas, attached garages, and layouts suited to long-term occupancy.
Where is this duplex located?
The property is located at 3811 N Pepper Ridge St Wichita, KS.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 2‑unit duplex totaling 2,776 square feet; Each unit has 3 bedrooms, 2 bathrooms, and a finished basement; Attached two‑car garage for each residence
