New Ranch Duplex with
For Sale
$248,900
703 N Rainbow Lake St., Wichita, KS 67235
Residential, Wichita, KS
Property Size1,470 SF
Lot Size0.25 Acres
Price / SF$169.32
Days on Market257
Property Features for 703 N Rainbow Lake St.
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Dining Room, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Laundry Room
Window features
Storm Window(s)
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Walk-In Closet(s), Vaulted Ceiling(s)
Exterior features
Guttering - ALL, Sprinkler System, Zero Step Entry, Frame w/Less than 50% Mas
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Range
Subdivision
Bridger at Central Addition - Crescent Creek
Lot features
Wooded
Elementary school
Explorer
Middle school
Eisenhower
High school
Dwight D. Eisenhower
Elementary school district
Goddard School District (USD 265)
Middle school district
Goddard School District (USD 265)
High school district
Goddard School District (USD 265)
Directions
West on Central from 119th to "Crescent Creek", east of 135th. North on Rainbow Lake St.
Standard status
Active
APN
30027987
Size
1,470 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 1 BLOCK C BRIDGER AT CENTRAL ADDITION
HOA Fee
$1,500 Annually
Legal Description
LOT 1 BLOCK C BRIDGER AT CENTRAL ADDITION
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas, Forced Air
Cooling system
Central Air, Electric
Building Details
Year built
2026
Floors in Building
1
Roof type
Composition
Architectural style
Ranch
Listing Agency:
RE/MAX Premier · RE/MAX International
(316) 773-2707
Listed By:
Karen Hampton
(316) 641-9442
Added: Feb 13
Changed: Oct 24
Last Checked: Oct 28 at 3:06PM
MLS# 668256
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.
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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 under-construction duplex is planned with two ranch-style residences, each offering three bedrooms, two bathrooms, and 1,470 square feet of living space. Both sides include a two-car garage, vaulted living room ceilings, LVP flooring, quartz kitchen counters, an eating bar, walk-in pantry, and stainless steel appliances. Primary suites feature walk-in closets and private bathrooms with double vanities. Each residence also includes a laundry room, private side patio, 12x14 covered rear patio, and a fully fenced, landscaped yard. Exterior materials include front brick wainscot and LP Smart Lap siding.
The property is located at 703 N Rainbow Lake St. in Wichita, within the Crescent Creek community. Planned community features include a clubhouse with basement, swimming pool, pickleball court, stocked lake, and walking paths. HOA services described for the community include lawn mowing, trash service, irrigation, and amenity access.
The property is located at 703 N Rainbow Lake St. in Wichita, within the Crescent Creek community. Planned community features include a clubhouse with basement, swimming pool, pickleball court, stocked lake, and walking paths. HOA services described for the community include lawn mowing, trash service, irrigation, and amenity access.
Key Highlights
- Duplex with two 3‑bedroom, 2‑bath residences
- Each side provides 1,470 square feet and a two‑car garage
- 12x14 covered back patio on each side
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,277
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$225,540
$225.5K
Cap Rate 7%
$161,100
$161.1K
Cap Rate 9%
$125,300
$125.3K
Market Conditions
NOI Build-Up for 1,470 SF
Gross rent
$21.7K $14.76/SF
− Vacancy
−$1.2K −$0.81/SF
EGI
$20.5K $13.95/SF
− OpEx
−$9.2K −$6.28/SF
NOI
$11.3K $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 Rate 5%
$225,540
Cap Rate 7%
$161,100
Cap Rate 9%
$125,300
Alternative Uses
Best Use
Apartment 5plus
$161.1K
$141.0K – $188.0K
NOI $11,277 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$364.0K
$318.5K – $424.6K
NOI $25,478 @ 7.0% cap · market cap 10.24%
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
33
Businesses Nearby
Explore this area
Business Placement
Demographics for 67235, KS
14,824
Population
5,311
Households
2.8
Avg Household Size
38
Median Age
45%
College-Educated
98%
High-School Grad
10.8 sq mi
ZIP Area
1,373
Density / Sq Mi
$112,500
Median Household Income
$51,333
Median Earnings
$1,541
Median Rent
$298,100
Median Home Value
Frequently Asked Questions
What type of property is this?
Single family property - Under-construction duplex with ranch-style units, fenced yards, patios, and quartz-finished kitchens.
Where is this single family property located?
The property is located at 703 N Rainbow Lake St. Wichita, KS.
What is the asking price?
The asking price for this property is $248,900.
What are key features of this property?
This property features: Duplex with two 3‑bedroom, 2‑bath residences; Each side provides 1,470 square feet and a two‑car garage; 12x14 covered back patio on each side
