Brick Duplex with
For Sale
$150,000
6514-6516 E Cottonwood Lane, Wichita, KS 67207
Both two-bedroom units have been updated, and tenants pay their own electric and gas.
Property Size1,650 SF
Price / SF$90.91
Days on Market23
Property Features for 6514-6516 E Cottonwood Lane
General Information
Standard status
Active
Size
1,650 SF
Total Parking Spaces
4
Property subtype
Residential Income
Site & Location
Neighborhood
Eastridge
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Parking per Unit
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$568
Amenities
unfinished basement
mature shade trees
Building Details
Building Size
1,650 SF
Year Built
1949
Buildings
1
Stories
1
Construction
all-brick
Listing Agency:
Elite Real Estate Experts
(316) 719-4000
Listed By:
Jarod Gillenwater
(316) 550-1970
Source:
Albright-realty
Added: Oct 15
Changed: Nov 6
Last Checked: Nov 5 at 6:41PM
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 Elite Real Estate Experts
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,650-square-foot, all-brick duplex was built in 1949 and has a single-story layout with two two-bedroom units. Both residences have been remodeled; the street-facing unit received a renovation down to the studs. An unfinished basement provides storage space, and each unit has two parking spaces.
The roof is less than five years old, and gutters are also in place. Tenants pay their own electric and gas service.
The roof is less than five years old, and gutters are also in place. Tenants pay their own electric and gas service.
Key Highlights
- Two two‑bedroom units in a 1,650‑square‑foot duplex
- All‑brick, single‑story building constructed in 1949
- Street‑facing unit renovated down to the studs; second unit also remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,519
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,380
$270.4K
Cap Rate 7%
$193,129
$193.1K
Cap Rate 9%
$150,211
$150.2K
Market Conditions
NOI Build-Up for 1,650 SF
Gross rent
$20.2K $12.24/SF
− Vacancy
−$883 −$0.53/SF
EGI
$19.3K $11.71/SF
− OpEx
−$5.8K −$3.51/SF
NOI
$13.5K $8.19/SF
Area
ZIP 67207
Vacancy
4.37%
Lease Rate
$12.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,380
Cap Rate 7%
$193,129
Cap Rate 9%
$150,211
Alternative Uses
Best Use
Multifamily LT 5
$193.1K
$169.0K – $225.3K
NOI $13,519 @ 7.0% cap · market cap 9.01%
Second Best
Apartment 5plus
$172.2K
$150.6K – $200.9K
NOI $12,051 @ 7.0% cap · market cap 8.03%
Theoretical Best
Office A
$356.1K
$311.6K – $415.5K
NOI $24,929 @ 7.0% cap · market cap 16.62%
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
399
Businesses Nearby
Explore this area
Business Placement
Demographics for 67207, KS
28,143
Population
12,755
Households
2.2
Avg Household Size
34
Median Age
29%
College-Educated
88%
High-School Grad
10.4 sq mi
ZIP Area
2,706
Density / Sq Mi
$66,400
Median Household Income
$39,070
Median Earnings
$961
Median Rent
$204,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both two-bedroom units have been updated, and tenants pay their own electric and gas.
Where is this duplex located?
The property is located at 6514-6516 E Cottonwood Lane Wichita, KS.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two two‑bedroom units in a 1,650‑square‑foot duplex; All‑brick, single‑story building constructed in 1949; Street‑facing unit renovated down to the studs; second unit also remodeled
