New Duplex with Modern
For Sale
$375,000
4307-4309 N Sandplum St, Wichita, KS 67205
Fully leased duplex in Edgewater Villas with HOA-managed lawn care and irrigation.
Property Size2,752 SF
Price / SF$136.26
Days on Market35
Property Features for 4307-4309 N Sandplum St
General Information
Standard status
Active
Size
2,752 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Amenities
covered patio
fenced backyards
Building Details
Year Built
2024
Buildings
1
Tenancy
Multi
Listing Agency:
Russell Real Resources LLC
(316) 516-7417
Listed By:
Bree Russell · License #BRSP00218596
Source:
Highpointks
Added: Jul 28
Changed: Aug 29
Last Checked: Aug 30 at 6:45PM
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 Russell Real Resources LLC
Investment Insights
Based on property information with market context.
Built in 2024, this 2,752-square-foot duplex at 4307-4309 N Sandplum St features two three-bedroom residences, each with two full bathrooms and a two-car garage. The split-bedroom layouts include nine-foot ceilings, LVP flooring, granite kitchen and bathroom surfaces, a walk-in kitchen pantry, and modern interior finishes. Each residence also has a covered patio and a spacious rod-iron-fenced backyard.
The property is fully leased and located in the Edgewater Villas neighborhood in Northwest Wichita, within the Maize High School District and near K96 Highway. HOA services include lawn care, mowing, sprinkler maintenance, and well water. Tenants are responsible for utilities and trash. The duplex may also be included in a package of up to 15 duplexes.
The property is fully leased and located in the Edgewater Villas neighborhood in Northwest Wichita, within the Maize High School District and near K96 Highway. HOA services include lawn care, mowing, sprinkler maintenance, and well water. Tenants are responsible for utilities and trash. The duplex may also be included in a package of up to 15 duplexes.
Key Highlights
- 2024‑built duplex with 2,752 square feet
- Two 3‑bedroom residences, each with 2 full bathrooms
- Each side includes a large 2‑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
$23,010
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
6.14%
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%
$460,200
$460.2K
Cap Rate 7%
$328,714
$328.7K
Cap Rate 9%
$255,667
$255.7K
Market Conditions
NOI Build-Up for 2,752 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
$34.7K $12.60/SF
− Vacancy
−$1.8K −$0.66/SF
EGI
$32.9K $11.94/SF
− OpEx
−$9.9K −$3.58/SF
NOI
$23.0K $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 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%
$460,200
Cap Rate 7%
$328,714
Cap Rate 9%
$255,667
Alternative Uses
Best Use
Multifamily LT 5
$328.7K
$287.6K – $383.5K
NOI $23,010 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$303.2K
$265.3K – $353.7K
NOI $21,224 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$584.2K
$511.2K – $681.6K
NOI $40,897 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Fully leased duplex in Edgewater Villas with HOA-managed lawn care and irrigation.
Where is this duplex located?
The property is located at 4307-4309 N Sandplum St Wichita, KS.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2024‑built duplex with 2,752 square feet; Two 3‑bedroom residences, each with 2 full bathrooms; Each side includes a large 2‑car garage
