New Northwest Wichita Duplex
For Sale
Contact for pricing
4451 N Sandplum St, Wichita, KS 67205
Fully leased duplex townhome in a new Wichita neighborhood.
Property Size2,752 SF
Price / SF$132.63
Days on Market284
Property Features for 4451 N Sandplum St
General Information
Standard status
Active
Size
2,752 SF
Property subtype
Multifamily
Net Operating Income
$21,000
Building Details
Year Built
2024
Listing Agency:
Russell Real Resources
(316) 516-7417
Listed By:
Bree Russell, CCIM · License #BR SP00218596
Source:
Crexi
Added: Nov 21, 2025
Changed: Aug 25
Last Checked: Sep 1 at 4:19AM
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
Investment Insights
Based on property information with market context.
Located in the Edgewater Villas neighborhood at 45th and Ridge Road in Northwest Wichita, this fully leased and stabilized duplex townhome is ideal for active, low-maintenance lifestyles or investment portfolios. The property features a functional three-bedroom split floor design on each side. Each unit includes three bedrooms, two full bathrooms, and a large 600 square foot two-car garage. The location offers convenient access to K96 Highway and is situated within the Maize High School District. The HOA manages lawn mowing, sprinkler, and well water services. Tenants are responsible for utilities and trash. Interior features include modern finishes, LVP flooring, granite countertops in the kitchen and bathrooms, a walk-in pantry in the kitchen, and 9-foot ceilings. Each unit also has an outdoor covered patio with a spacious rod-iron fenced backyard. The property has a total size of 2752 square feet.
Key Highlights
- Fully leased and stabilized duplex townhomes, providing immediate rental income.
- Functional 3‑bedroom split floor plan with modern finishes, LVP flooring, and granite countertops.
- Low‑maintenance lifestyle with HOA managing lawn mowing, sprinkler, and well water.
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
6.30%
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 6.30%
Second Best
Apartment 5plus
$303.2K
$265.3K – $353.7K
NOI $21,224 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$584.2K
$511.2K – $681.6K
NOI $40,897 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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Frequently Asked Questions
What type of property is this?
Duplex - Fully leased duplex townhome in a new Wichita neighborhood.
Where is this duplex located?
The property is located at 4451 N Sandplum St Wichita, KS.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Fully leased and stabilized duplex townhomes, providing immediate rental income.; Functional 3‑bedroom split floor plan with modern finishes, LVP flooring, and granite countertops.; Low‑maintenance lifestyle with HOA managing lawn mowing, sprinkler, and well water.
