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Listing Agency: Heritage 1st Realty B***@heritage1strealty.com Show Phone

Listed By: Justin Crafton Show Phone

Source: Exprealty

Added: Jul 8 Changed: Oct 8 Last Checked: Oct 15 at 1:47AM

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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 Heritage 1st Realty

Investment Insights

Based on property information with market context.

This duplex in Mulvane, Kansas, contains two residential units with matching three-bedroom, two-bathroom layouts. Each side includes an attached two-car garage, generous living areas, granite countertops, and storage space. The configuration supports separate household occupancy within one property while retaining consistent features across both units.

Located at 643 E Mulvane St, the property provides access to nearby schools and parks, along with routes including K-15 and Rock Rd. These connections link the property with surrounding community destinations and established travel corridors.

Key Highlights

• Two‑unit duplex with matching 3‑bedroom, 2‑bathroom layouts
• Each unit includes an attached 2‑car garage
• Granite countertops throughout both units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,278

Cap Rate

5.22%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$365,560 $365.6K

Cap Rate 7%

$261,114 $261.1K

Cap Rate 9%

$203,089 $203.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,186 SF

Gross rent

$27.5K $12.60/SF

− Vacancy

−$1.4K −$0.66/SF

EGI

$26.1K $11.94/SF

− OpEx

−$7.8K −$3.58/SF

NOI

$18.3K $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%

$365,560

Cap Rate 7%

$261,114

Cap Rate 9%

$203,089

Alternative Uses

Best Use

Multifamily LT 5

$261.1K

$228.5K – $304.6K (±1% cap)

NOI $18,278 @ 7.0% cap · market cap 5.22%

Second Best

Apartment 5plus

$240.8K

$210.7K – $281.0K (±1% cap)

NOI $16,859 @ 7.0% cap · market cap 4.82%

Theoretical Best

Office A

$455.6K

$398.7K – $531.6K (±1% cap)

NOI $31,894 @ 7.0% cap · market cap 9.11%

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

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Hair Salon Big Box & Wholesale Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

146

Businesses Nearby

Explore this area Business Placement

Demographics for 67110, KS

8,263

Population

3,394

Households

2.4

Avg Household Size

39

Median Age

30%

College-Educated

97%

High-School Grad

54.3 sq mi

ZIP Area

152

Density / Sq Mi

$73,387

Median Household Income

$44,226

Median Earnings

$1,190

Median Rent

$179,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Similar For Sale Nearby

See more

Two-Unit Duplex with Garages

631 N Mulvane St, Mulvane, KS 67110

$350,000

2,186 SF

View details

Duplex Property with Workshop Garage

215 Prather St, Mulvane, KS 67110

$389,900

4,052 SF

View details

Frequently Asked Questions

What type of property is this?

Duplex - Two residential units offer three-bedroom layouts, granite countertops, storage, and access to attached garages.

Where is this duplex located?

The property is located at 643 E Mulvane St Mulvane, KS.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: Two‑unit duplex with matching 3‑bedroom, 2‑bathroom layouts; Each unit includes an attached 2‑car garage; Granite countertops throughout both units