Building Details

Building Size 2,330 SF

Year Built 2023

Units 2

Listing Agency: Berkshire Hathaway PenFed Realty a***@penfedrealty.com Show Phone

Listed By: Michelle Estrada Show Phone

Source: Albright-realty

Added: Jul 31 Changed: Nov 3 Last Checked: Nov 4 at 6:05AM

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Investment Insights

Based on property information with market context.

Built in 2023, this duplex contains two residences, each with three bedrooms, two bathrooms and a two-car garage. Zero-entry access, high ceilings and an open living and kitchen layout shape the interior. Each kitchen includes an island bar, pantry, granite countertops, cabinetry and backsplash, while luxury vinyl flooring extends through the living areas. The garages are finished, and the entrances include covered areas and storm doors.

The HOA provides lawn service and irrigation for the property.

Key Highlights

• Two residences, each with 3 bedrooms, 2 bathrooms and a 2‑car garage
• Zero‑entry access and high ceilings
• Open living and kitchen layout with island bar and pantry in each residence

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,482

Cap Rate

5.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$389,640 $389.6K

Cap Rate 7%

$278,314 $278.3K

Cap Rate 9%

$216,467 $216.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,330 SF

Gross rent

$29.4K $12.60/SF

− Vacancy

−$1.5K −$0.66/SF

EGI

$27.8K $11.94/SF

− OpEx

−$8.3K −$3.58/SF

NOI

$19.5K $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 Rate 5%

$389,640

Cap Rate 7%

$278,314

Cap Rate 9%

$216,467

Alternative Uses

Best Use

Multifamily LT 5

$278.3K

$243.5K – $324.7K (±1% cap)

NOI $19,482 @ 7.0% cap · market cap 5.47%

Second Best

Apartment 5plus

$256.7K

$224.6K – $299.5K (±1% cap)

NOI $17,969 @ 7.0% cap · market cap 5.05%

Theoretical Best

Office A

$485.6K

$424.9K – $566.6K (±1% cap)

NOI $33,995 @ 7.0% cap · market cap 9.55%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

41

Businesses Nearby

Explore this area Business Placement

Demographics for 67226, KS

20,767

Population

9,256

Households

2.2

Avg Household Size

37

Median Age

52%

College-Educated

97%

High-School Grad

24.7 sq mi

ZIP Area

841

Density / Sq Mi

$88,603

Median Household Income

$49,666

Median Earnings

$1,164

Median Rent

$274,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Frequently Asked Questions

What type of property is this?

Duplex - HOA-provided lawn care and irrigation simplify exterior upkeep for both residences.

Where is this duplex located?

The property is located at 5227-5229 N Cypress St Bel Aire, KS.

What is the asking price?

The asking price for this property is $356,000.

What are key features of this property?

This property features: Two residences, each with 3 bedrooms, 2 bathrooms and a 2‑car garage; Zero‑entry access and high ceilings; Open living and kitchen layout with island bar and pantry in each residence