New Duplex with Covered
703 N Rainbow Lake St. Wichita, KS 67235
703 N Rainbow Lake St., Wichita, KS, 67235
$248,900
For Sale
$248,900
SINGLE_FAMILY - Ranch - Wichita, KS
Property Size1,470 SF
Lot Size0.25 Acres
Price / SF$169.32
Days on Market157
Property Features for 703 N Rainbow Lake St.
General Information
- Property type
- Residential
- Property subtype
- Duplex
- Property condition
- Under Construction
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 2, Dining Room, Bathroom 2, Bedroom 1, Bedroom 3, Laundry Room
- Window features
- Storm Window(s)
- Patio and Porch features
- Patio
- Interior features
- Ceiling Fan(s), Walk-In Closet(s), Vaulted Ceiling(s), Smoke Detector(s)
- Exterior features
- Guttering - ALL, Sprinkler System, Zero Step Entry, Frame w/Less than 50% Mas
- Fireplace
- 1
- Appliances
- Dishwasher, Disposal, Microwave, Refrigerator, Range, Smoke Detector
- 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
Utilities
- Utilities
- Natural Gas Available
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Electric, Central Air
Building Details
- Year built
- 2026
- Floors in Building
- 1
- Flooring type
- Smoke detector(s)
- Roof type
- Composition
- Architectural style
- Ranch
Listing Agency
RE/MAX Premier
(316) 773-2707
2243 N Ridge Rd. Ste. 105, Wichita, KS
Listed by
Karen Hampton · License #00052101
(316) 641-9442
Added: Feb 13 Updated: Jul 19 at 5:03 am Checked: Jul 20 at 5:06 pm
MLS# 668256
Listing URL
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.
Investment Insights
Based on property information with market context.
Newly built duplexes feature the Abbington floor plan with a well-designed three-bedroom, two-bath layout on each side, along with a two-car garage. Each unit includes a spacious living room with vaulted ceilings and a custom beam accent, LVP flooring throughout, and a kitchen with quartz countertops, a large eating bar, walk-in pantry, and stainless steel appliances including a stove, microwave, dishwasher, and refrigerator. The primary suite has a walk-in closet and a private bath with double vanities.
Outdoor living includes a private side patio and a 12x14 covered back patio overlooking a wooded lot, along with fully fenced and landscaped yards per unit. The exterior features brick wainscot on the front paired with LP Smart Lap siding.
Residents of Crescent Creek are shown future community amenities, including a clubhouse with a basement, swimming pool, pickleball court, stocked lake, and walking paths. HOA dues are $125 per month and include lawn mowing, trash service, irrigation, and access to community amenities. Special taxes are estimated at $156 per month per side based on a lot split survey; general and special taxes have not yet been fully assessed. Multiple floor plans are available.
Outdoor living includes a private side patio and a 12x14 covered back patio overlooking a wooded lot, along with fully fenced and landscaped yards per unit. The exterior features brick wainscot on the front paired with LP Smart Lap siding.
Residents of Crescent Creek are shown future community amenities, including a clubhouse with a basement, swimming pool, pickleball court, stocked lake, and walking paths. HOA dues are $125 per month and include lawn mowing, trash service, irrigation, and access to community amenities. Special taxes are estimated at $156 per month per side based on a lot split survey; general and special taxes have not yet been fully assessed. Multiple floor plans are available.
Key Highlights
- New duplexes under construction (Year built 2026) in Crescent Creek, each side featuring a 3‑bedroom, 2‑bath layout.
- Each side includes a 2‑car garage and 1,470 sq ft of living space.
- Vaulted ceilings, walk‑in closets, and LVP flooring; kitchen with quartz countertops and stainless‑steel appliances (including range, microwave, dishwasher, refrigerator).
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.5k | $12.60 |
| − Vacancy | −$1.2k | −$0.82 |
| EGI | $17.3k | $11.78 |
| − OpEx | −$5.2k | −$3.53 |
| NOI | $12.1k | $8.25 |
1,470 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$173.2K
$151.5K – $202.1K
NOI $12,123 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$161.1K
$141.0K – $188.0K
NOI $11,277 @ 7.0% cap · market cap 4.53%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - New duplex offers 3-bedroom, 2-bath units with a two-car garage, private side patio, and fenced yard.
Where is this duplex 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: New duplexes under construction (Year built 2026) in Crescent Creek, each side featuring a 3‑bedroom, 2‑bath layout.; Each side includes a 2‑car garage and 1,470 sq ft of living space.; Vaulted ceilings, walk‑in closets, and LVP flooring; kitchen with quartz countertops and stainless‑steel appliances (including range, microwave, dishwasher, refrigerator).
