Two-Story Duplex Under
For Sale
$345,000
Pending
436 S Walnut, Wichita, KS 67213
Residential Income, Wichita, KS
Property Size2,110 SF
Lot Size0.17 Acres
Days on Market18
Property Features for 436 S Walnut
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Parking
4
Appliances
Dishwasher, Disposal, Range
Subdivision
LAWRENCE ADDITION
Elementary school
Franklin
Middle school
Marshall
High school
West
Elementary school district
Wichita School District (USD 259)
Middle school district
Wichita School District (USD 259)
High school district
Wichita School District (USD 259)
Directions
From Kellogg and Seneca go North 1 block to W Mentor St. Turn East (right) onto W Mentor St. Go 1 block and turn North (left) onto South Walnut St.
Standard status
Pending
APN
129290220201400
Size
2,110 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
S 50 FT W 150 FT LOT 3 BLOCK 2 LAWRENCE ADD.
Tax Annual Amount
933
Legal Description
S 50 FT W 150 FT LOT 3 BLOCK 2 LAWRENCE ADD.
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Electric
Water source
Public
Building Details
Year built
2026
Number of units
2
Building materials
Frame
Roof type
Composition
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
David Sowden
(316) 708-2629
Added: Aug 14
Changed: Aug 27
Last Checked: Aug 31 at 8:06PM
MLS# 677528
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 two-story duplex is under construction with 2,110 square feet across two private residences. Each unit measures 1,055 square feet and includes three bedrooms, two bathrooms, a separate entrance, and a covered porch. The planned improvements include frame construction, forced-air heating, electric cooling, a composition roof, and kitchens equipped with a dishwasher, disposal, and range.
The property sits on a 0.1722-acre lot at 436 S Walnut in Wichita’s 67213 ZIP Code, with public water and natural gas available. A fenced backyard with mature trees provides outdoor space, while the property information also identifies room for a garden or a detached shop or additional building. Its location provides access to Delano amenities and routes throughout Wichita. Depending on construction progress, interior paint and flooring selections may remain available to the buyer.
The property sits on a 0.1722-acre lot at 436 S Walnut in Wichita’s 67213 ZIP Code, with public water and natural gas available. A fenced backyard with mature trees provides outdoor space, while the property information also identifies room for a garden or a detached shop or additional building. Its location provides access to Delano amenities and routes throughout Wichita. Depending on construction progress, interior paint and flooring selections may remain available to the buyer.
Key Highlights
- Two‑story duplex under construction with 2,110 square feet
- Each private unit offers 1,055 square feet, 3 bedrooms, and 2 bathrooms
- Separate entrances and covered porches for both units
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
$17,401
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
5.04%
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%
$348,020
$348.0K
Cap Rate 7%
$248,586
$248.6K
Cap Rate 9%
$193,344
$193.3K
Market Conditions
NOI Build-Up for 2,110 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
$26.6K $12.60/SF
− Vacancy
−$1.7K −$0.82/SF
EGI
$24.9K $11.78/SF
− OpEx
−$7.5K −$3.53/SF
NOI
$17.4K $8.25/SF
Area
Wichita, KS
Vacancy
6.50%
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%
$348,020
Cap Rate 7%
$248,586
Cap Rate 9%
$193,344
Alternative Uses
Best Use
Multifamily LT 5
$248.6K
$217.5K – $290.0K
NOI $17,401 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$231.2K
$202.3K – $269.8K
NOI $16,187 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$522.4K
$457.1K – $609.5K
NOI $36,571 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
997
Businesses Nearby
Explore this area
Business Placement
Demographics for 67213, KS
21,007
Population
9,788
Households
2.1
Avg Household Size
34
Median Age
13%
College-Educated
83%
High-School Grad
6.6 sq mi
ZIP Area
3,183
Density / Sq Mi
$48,015
Median Household Income
$32,186
Median Earnings
$920
Median Rent
$80,500
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 - Separate residences feature private entrances, covered porches, and three-bedroom, two-bath layouts.
Where is this duplex located?
The property is located at 436 S Walnut Wichita, KS.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two‑story duplex under construction with 2,110 square feet; Each private unit offers 1,055 square feet, 3 bedrooms, and 2 bathrooms; Separate entrances and covered porches for both units
