Duplex with Three-Car
For Sale
$389,500
Pending
5287 N Toben, Wichita, KS 67226
Residential, Wichita, KS
Property Size2,773 SF
Lot Size0.26 Acres
Days on Market125
Property Features for 5287 N Toben
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Dining Room, Bathroom 1, Bathroom 2, Laundry Room, Bedroom 2, Bedroom 1
Security features
Security Lighting
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Walk-In Closet(s), Window Coverings-All
Exterior features
Guttering - ALL, Sprinkler System, Zero Step Entry, Frame w/Less than 50% Mas, Brick, Brick Veneer
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Range
Subdivision
ROCK SPRING
Lot features
Cul-De-Sac, Standard
Elementary school
Isely Traditional Magnet
Middle school
Stucky
High school
Heights
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 Webb & 53rd St N., West (left) to Toben, South (left) to 2nd cul-de-sac on right. Home is on left side.
Standard status
Pending
APN
104-20-0-11-02-019.00
Size
2,773 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 19 BLOCK 1 ROCK SPRING 3RD ADDITION
Tax Annual Amount
5990
HOA Fee
$200 Annually
Legal Description
LOT 19 BLOCK 1 ROCK SPRING 3RD ADDITION
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas, Forced Air
Cooling system
Central Air, Electric
Amenities
covered patios
fully fenced backyards
Building Details
Year built
2021
Floors in Building
1
Flooring type
Laminate
Building materials
Frame, Brick Veneer
Roof type
Composition
Architectural style
Ranch, Contemporary
Listing Agency:
Coldwell Banker Plaza Real Estate · Coldwell Banker Real Estate
(316) 686-7121
Listed By:
Leslie Wessel · License #00225620
(316) 461-4375
Added: May 1
Changed: Sep 1
Last Checked: Sep 2 at 6:06AM
MLS# 672262
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 2021 duplex contains 2,773 square feet across two residential units, each with a ranch-style layout, private entry, and attached garage access. The interiors feature laminate flooring, neutral finishes, stainless steel appliances, granite kitchen and bathroom surfaces, walk-in closets, private primary bathrooms, and dedicated laundry areas. Each side also includes flex space and practical storage.
The property sits on 0.26 acres and provides three-car garage capacity, including a rear roll-up door connecting to the backyard and patio area. Both units offer covered patios and fully fenced backyards. One unit is leased through 2027, while the second is scheduled to become available July 31, 2026, providing flexibility for a new lease or owner occupancy. Professional management is currently provided by Reliance Property Management.
The property sits on 0.26 acres and provides three-car garage capacity, including a rear roll-up door connecting to the backyard and patio area. Both units offer covered patios and fully fenced backyards. One unit is leased through 2027, while the second is scheduled to become available July 31, 2026, providing flexibility for a new lease or owner occupancy. Professional management is currently provided by Reliance Property Management.
Key Highlights
- 2021‑built duplex with 2,773 square feet on 0.26 acres
- Three‑car attached garage setup with rear roll‑up door
- One unit leased through 2027; second scheduled for availability July 31, 2026
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
$22,868
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
5.87%
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%
$457,360
$457.4K
Cap Rate 7%
$326,686
$326.7K
Cap Rate 9%
$254,089
$254.1K
Market Conditions
NOI Build-Up for 2,773 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
$34.9K $12.60/SF
− Vacancy
−$2.3K −$0.82/SF
EGI
$32.7K $11.78/SF
− OpEx
−$9.8K −$3.53/SF
NOI
$22.9K $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%
$457,360
Cap Rate 7%
$326,686
Cap Rate 9%
$254,089
Alternative Uses
Best Use
Multifamily LT 5
$326.7K
$285.9K – $381.1K
NOI $22,868 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$303.9K
$265.9K – $354.6K
NOI $21,273 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$686.6K
$600.8K – $801.0K
NOI $48,062 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Contemporary income property with updated kitchens, private outdoor areas, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 5287 N Toben Wichita, KS.
What is the asking price?
The asking price for this property is $389,500.
What are key features of this property?
This property features: 2021‑built duplex with 2,773 square feet on 0.26 acres; Three‑car attached garage setup with rear roll‑up door; One unit leased through 2027; second scheduled for availability July 31, 2026
