Zero-Entry Ranch
New
For Sale
$175,000
474 E Harper St, Valley Center, KS 67147
Residential, Valley Center, KS
Property Size1,240 SF
Lot Size0.15 Acres
Price / SF$141.13
Days on Market5
Property Features for 474 E Harper St
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1, Dining Room, Laundry Room
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Walk-In Closet(s), Vaulted Ceiling(s)
Exterior features
Guttering - ALL, Sprinkler System
Appliances
Dishwasher, Disposal, Microwave, Range
Subdivision
SUNFLOWER
Lot features
Standard
Elementary school
Valley Center
Middle school
Valley Center
High school
Valley Center
Elementary school district
Valley Center Pub School (USD 262)
Middle school district
Valley Center Pub School (USD 262)
High school district
Valley Center Pub School (USD 262)
Directions
West on 77th(Ford St.) - Go left onto Wybern St. Right onto E. Hayes St. and Right onto Harper St. Unit is on the left
Standard status
Active
APN
093-06-0-21-02-003.14
Size
1,240 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SUNFLOWER VALLEY ADDITION LONG LEGAL; TITLE TO VERIFY FULL LEGAL DESCRIPTION
HOA Fee
$600 Annually
Legal Description
SUNFLOWER VALLEY ADDITION LONG LEGAL; TITLE TO VERIFY FULL LEGAL DESCRIPTION
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air, Natural Gas
Cooling system
Electric, Central Air
Amenities
fenced back patio
Building Details
Year built
2025
Floors in Building
1
Building materials
Frame
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Heritage 1st Realty
(316) 512-1300
Listed By:
Dustin Lynam · License #00237038
(316) 259-9184
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 22 at 2:06AM
MLS# 679359
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 2025 ranch duplex is under construction and offers 1,240 square feet of zero-entry living space. The three-bedroom, two-bath layout separates the living areas from the adjoining unit, with the garage serving as the only shared wall. Interior details include vaulted ceilings, ceiling fans, a walk-in closet, and a primary suite with a private en suite bathroom. The kitchen includes a dishwasher, disposal, microwave, and range.
Outdoor features include a fenced patio with turf and hardscaping, guttering, and a sprinkler system. The property occupies a 0.15-acre lot and uses natural gas forced-air heating with central electric cooling. HOA services include yard maintenance and irrigation. The home is located in Valley Center near highway access.
Outdoor features include a fenced patio with turf and hardscaping, guttering, and a sprinkler system. The property occupies a 0.15-acre lot and uses natural gas forced-air heating with central electric cooling. HOA services include yard maintenance and irrigation. The home is located in Valley Center near highway access.
Key Highlights
- 1,240‑square‑foot duplex unit with 3 bedrooms and 2 bathrooms
- Only the garage wall is shared; living areas have no shared interior walls
- Zero‑entry ranch layout with vaulted ceilings and a primary suite
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
$10,368
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
5.92%
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%
$207,360
$207.4K
Cap Rate 7%
$148,114
$148.1K
Cap Rate 9%
$115,200
$115.2K
Market Conditions
NOI Build-Up for 1,240 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
$15.6K $12.60/SF
− Vacancy
−$812 −$0.66/SF
EGI
$14.8K $11.94/SF
− OpEx
−$4.4K −$3.58/SF
NOI
$10.4K $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%
$207,360
Cap Rate 7%
$148,114
Cap Rate 9%
$115,200
Alternative Uses
Best Use
Multifamily LT 5
$148.1K
$129.6K – $172.8K
NOI $10,368 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$136.6K
$119.5K – $159.4K
NOI $9,563 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$258.5K
$226.2K – $301.5K
NOI $18,092 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Explore this area
Business Placement
Demographics for 67147, KS
10,715
Population
4,106
Households
2.6
Avg Household Size
37
Median Age
39%
College-Educated
92%
High-School Grad
103.6 sq mi
ZIP Area
103
Density / Sq Mi
$82,711
Median Household Income
$47,569
Median Earnings
$996
Median Rent
$227,900
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 - Low-maintenance twin-home design with private living walls, an open kitchen, and HOA-maintained yard care.
Where is this duplex located?
The property is located at 474 E Harper St Valley Center, KS.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 1,240‑square‑foot duplex unit with 3 bedrooms and 2 bathrooms; Only the garage wall is shared; living areas have no shared interior walls; Zero‑entry ranch layout with vaulted ceilings and a primary suite
