New Construction Duplex with Two-Car
For Sale
$450,000
385/387 Trails Head, Goddard, KS 67052
MULTI_FAMILY - Other - Goddard, KS
Property Size2,934 SF
Price / SF$153.37
Days on Market95
Property Features for 385/387 Trails Head
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Parking
4
Parking features
Garage
Appliances
Dishwasher, Disposal, Range, Refrigerator
Subdivision
Trails End
Elementary school
Clark Davidson
Middle school
Goddard
High school
Robert Goddard
Elementary school district
Goddard School District (USD 265)
Middle school district
Goddard School District (USD 265)
High school district
Goddard School District (USD 265)
Directions
Kellogg (54) & 215th St W, South to Trails Head, East to Home.
Standard status
Active
APN
149310320103100
Size
2,934 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 29, Block 1, Goddard Trails End Addition
Tax Annual Amount
674
HOA Fee
$720 Annually
Legal Description
Lot 29, Block 1, Goddard Trails End Addition
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas, Forced Air
Cooling system
Multi Units, Electric
Water source
Public
Amenities
granite countertops
stainless steel appliances
center island
walk-in pantry
privacy-fenced backyard
24x8 patio
Building Details
Year built
2026
Number of units
2
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Realty4Less
(316) 932-2500
Listed By:
Bryan Hazen
(316) 312-3405
Added: May 4
Changed: Aug 1
Last Checked: Aug 6 at 2:06PM
MLS# 672364
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.
Investment Insights
Based on property information with market context.
This under-construction duplex (frame construction) is planned for a 2026 completion and is built with a composition roof. Each side is designed with an open layout and soaring 10-foot ceilings in the kitchen and living areas, complemented by 9-foot ceiling height in the secondary spaces. Every unit features three bedrooms and two full bathrooms, plus a two-car garage.
Kitchens are set up for everyday function and entertaining, with granite countertops, stainless steel appliances, a center island, and a walk-in pantry. Additional included features list appliances such as a dishwasher, disposal, range, and refrigerator. Heating is natural gas forced air, with electric cooling, and water is public. The property also includes a privacy-fenced backyard, a sprinkler system supported by an irrigation well, and an expansive 24x8 patio.
This new home qualifies for USDA Rural Housing Loans, subject to lender and program requirements.
Kitchens are set up for everyday function and entertaining, with granite countertops, stainless steel appliances, a center island, and a walk-in pantry. Additional included features list appliances such as a dishwasher, disposal, range, and refrigerator. Heating is natural gas forced air, with electric cooling, and water is public. The property also includes a privacy-fenced backyard, a sprinkler system supported by an irrigation well, and an expansive 24x8 patio.
This new home qualifies for USDA Rural Housing Loans, subject to lender and program requirements.
Key Highlights
- Planned 2026 construction with frame building and composition roof
- 10‑foot ceilings in kitchen and living areas; 9‑foot ceilings in secondary spaces
- Three bedrooms and two full bathrooms per side plus a two‑car garage
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
$24,532
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
5.45%
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%
$490,640
$490.6K
Cap Rate 7%
$350,457
$350.5K
Cap Rate 9%
$272,578
$272.6K
Market Conditions
NOI Build-Up for 2,934 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
$37.0K $12.60/SF
− Vacancy
−$1.9K −$0.66/SF
EGI
$35.0K $11.94/SF
− OpEx
−$10.5K −$3.58/SF
NOI
$24.5K $8.36/SF
Area
Sedgwick County, KS
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 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%
$490,640
Cap Rate 7%
$350,457
Cap Rate 9%
$272,578
Alternative Uses
Best Use
Multifamily LT 5
$350.5K
$306.7K – $408.9K
NOI $24,532 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$323.2K
$282.8K – $377.1K
NOI $22,627 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$611.5K
$535.1K – $713.5K
NOI $42,807 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 67052, KS
8,977
Population
3,081
Households
2.9
Avg Household Size
36
Median Age
39%
College-Educated
98%
High-School Grad
51.8 sq mi
ZIP Area
173
Density / Sq Mi
$104,044
Median Household Income
$48,428
Median Earnings
$1,372
Median Rent
$253,800
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 - Under-construction duplex with 10-foot ceilings, three bedrooms, two full baths per side, and garage parking.
Where is this duplex located?
The property is located at 385/387 Trails Head Goddard, KS.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Planned 2026 construction with frame building and composition roof; 10‑foot ceilings in kitchen and living areas; 9‑foot ceilings in secondary spaces; Three bedrooms and two full bathrooms per side plus a two‑car garage
