New Duplex With Modern
New
For Sale
$375,000
5402-5404 N Sandkey Ct, Wichita, KS 67204
Each residence offers three bedrooms, two full bathrooms, and a covered patio with a fenced backyard.
Property Size2,364 SF
Price / SF$158.63
Days on Market6
Property Features for 5402-5404 N Sandkey Ct
General Information
Standard status
Active
Size
2,364 SF
Property subtype
Multi-Family
Building Details
Year Built
2024
Listing Agency:
Russell Real Resources LLC
Listed By:
Bree Russell · License #BRSP00218596
(316) 516-7417
Source:
Highpointks
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 21 at 11:29AM
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 LLC
Investment Insights
Based on property information with market context.
Built in 2024, this duplex includes two separately arranged residences with open-concept living areas, three bedrooms, and two full bathrooms on each side. Interior details include LVP flooring, granite countertops in the kitchens and bathrooms, walk-in kitchen pantries, vaulted living areas, and nine-foot ceilings. Primary suites feature walk-in closets and walk-in showers.
The property sits on a corner lot and includes covered patios with rod-iron-fenced backyards. HOA service covers lawn maintenance, while tenants are responsible for utilities. The property is located within the Valley Center School District and may offer additional parking capacity. It can also be sold as part of a package of twin homes or duplexes.
The property sits on a corner lot and includes covered patios with rod-iron-fenced backyards. HOA service covers lawn maintenance, while tenants are responsible for utilities. The property is located within the Valley Center School District and may offer additional parking capacity. It can also be sold as part of a package of twin homes or duplexes.
Key Highlights
- Two residences, each with 3 bedrooms and 2 full bathrooms
- Built in 2024 with open floor plans and modern finishes
- LVP flooring and granite in kitchens and bathrooms
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
$19,495
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
5.20%
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%
$389,900
$389.9K
Cap Rate 7%
$278,500
$278.5K
Cap Rate 9%
$216,611
$216.6K
Market Conditions
NOI Build-Up for 2,364 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
$29.8K $12.60/SF
− Vacancy
−$1.9K −$0.82/SF
EGI
$27.9K $11.78/SF
− OpEx
−$8.4K −$3.53/SF
NOI
$19.5K $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%
$389,900
Cap Rate 7%
$278,500
Cap Rate 9%
$216,611
Alternative Uses
Best Use
Multifamily LT 5
$278.5K
$243.7K – $324.9K
NOI $19,495 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$259.1K
$226.7K – $302.3K
NOI $18,135 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$585.3K
$512.2K – $682.9K
NOI $40,973 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Explore this area
Business Placement
Demographics for 67204, KS
21,932
Population
9,424
Households
2.3
Avg Household Size
38
Median Age
24%
College-Educated
79%
High-School Grad
16.1 sq mi
ZIP Area
1,362
Density / Sq Mi
$68,549
Median Household Income
$39,258
Median Earnings
$976
Median Rent
$148,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers three bedrooms, two full bathrooms, and a covered patio with a fenced backyard.
Where is this duplex located?
The property is located at 5402-5404 N Sandkey Ct Wichita, KS.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 full bathrooms; Built in 2024 with open floor plans and modern finishes; LVP flooring and granite in kitchens and bathrooms
