Brick Two-Bedroom Multifamily
For Sale
$165,000
6124 E Harry St, Wichita, KS 67218
Finished lower level and bonus room expand the usable interior.
Property Size1,549 SF
Price / SF$106.52
Days on Market21
Property Features for 6124 E Harry St
General Information
Standard status
Active
Size
1,549 SF
Property subtype
Multi-Family
Building Details
Year Built
1952
Listing Agency:
Real Broker, LLC
(316) 350-7971
Listed By:
Lyn Hett
Source:
Highpointks
Added: Aug 11
Changed: Aug 30
Last Checked: Aug 30 at 6:50PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This all-brick multifamily property in Wichita includes 1,549 square feet with two bedrooms and one bathroom. Built in 1952, the residence also offers a full finished basement and a bonus room that add flexible interior space beyond the main living areas.
The property is currently tenant-occupied, with access arranged through the listing agent and property management. Located at 6124 E Harry St, the home may be considered alongside additional properties identified by MLS numbers 669310 and 669286 as part of a package transaction.
The property is currently tenant-occupied, with access arranged through the listing agent and property management. Located at 6124 E Harry St, the home may be considered alongside additional properties identified by MLS numbers 669310 and 669286 as part of a package transaction.
Key Highlights
- 1,549‑square‑foot multifamily property in Wichita
- Two bedrooms and one bathroom
- All‑brick construction built in 1952
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
$11,883
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
7.20%
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%
$237,660
$237.7K
Cap Rate 7%
$169,757
$169.8K
Cap Rate 9%
$132,033
$132.0K
Market Conditions
NOI Build-Up for 1,549 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
$22.9K $14.76/SF
− Vacancy
−$1.3K −$0.81/SF
EGI
$21.6K $13.95/SF
− OpEx
−$9.7K −$6.28/SF
NOI
$11.9K $7.67/SF
Area
Wichita, KS
Vacancy
5.50%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$237,660
Cap Rate 7%
$169,757
Cap Rate 9%
$132,033
Alternative Uses
Best Use
Apartment 5plus
$169.8K
$148.5K – $198.1K
NOI $11,883 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$383.5K
$335.6K – $447.5K
NOI $26,848 @ 7.0% cap · market cap 16.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
Explore this area
Business Placement
Demographics for 67218, KS
23,044
Population
11,483
Households
2
Avg Household Size
35
Median Age
25%
College-Educated
81%
High-School Grad
5.0 sq mi
ZIP Area
4,609
Density / Sq Mi
$47,905
Median Household Income
$33,750
Median Earnings
$905
Median Rent
$117,700
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?
Multifamily property - Finished lower level and bonus room expand the usable interior.
Where is this multifamily property located?
The property is located at 6124 E Harry St Wichita, KS.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: 1,549‑square‑foot multifamily property in Wichita; Two bedrooms and one bathroom; All‑brick construction built in 1952
