New Duplex with 2-Car
707 N Rainbow Lake St Wichita, KS 67235
707 N Rainbow Lake St, Wichita, KS, 67235
$249,900
For Sale
$249,900
SINGLE_FAMILY - Ranch - Wichita, KS
Property Size1,456 SF
Lot Size0.28 Acres
Price / SF$171.63
Days on Market158
Property Features for 707 N Rainbow Lake St
General Information
- Property type
- Residential
- Property subtype
- Duplex
- Property condition
- Under Construction
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bathroom 2, Laundry Room, Bathroom 1, Bedroom 1, Kitchen, Bedroom 2
- Window features
- Storm Window(s)
- Interior features
- Ceiling Fan(s), Walk-In Closet(s), Vaulted Ceiling(s), Window Coverings-All
- Exterior features
- Guttering - ALL, Sprinkler System, Zero Step Entry, Frame w/Less than 50% Mas
- Appliances
- Dishwasher, Disposal, Microwave, Refrigerator, Range
- Standard status
- Active
- APN
- 30027988
- Size
- 1,456 SF
- Lot size
- 0.28 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- LOT 2 Block C Bridger at Central Addition
- Tax Annual Amount
- 2
Utilities
- Utilities
- Natural Gas Available
- Heating system
- Forced Air, Natural Gas
- 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
(316) 773-2707
2243 N Ridge Rd. Ste. 105, Wichita, KS
Listed by
Karen Hampton · License #00052101
(316) 641-9442
Added: Feb 12 Updated: Jul 19 at 5:03 am Checked: Jul 20 at 5:06 pm
MLS# 668210
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.
This for-sale duplex features newly built, matching layouts with each unit offering a 3-bedroom, 2-bath floorplan plus a 2-car garage. Interior finishes include LVT flooring throughout, a spacious living room with vaulted ceilings and a custom beam, and a kitchen with white quartz counters and stainless steel appliances, including a dishwasher, microwave, stove, and refrigerator. Additional kitchen conveniences include a pantry and a large eating bar. The primary bedroom includes a walk-in closet, and the primary bath offers a double vanity with quartz counters. Each unit also includes a fully fenced and landscaped yard and a back covered patio.
The property is located at 707 N Rainbow Lake St in Wichita, Kansas 67235, just east of 135th Street off Central, within the “Crescent Creek” community. Exterior materials include brick complemented by Smart lap siding.
As part of the community, residents will have access to a future clubhouse (with basement) planned to include a pool, a stocked lake, and walking paths. The HOA is stated as $125 per month and covers mowing, trash, irrigation, and amenities.
The property is located at 707 N Rainbow Lake St in Wichita, Kansas 67235, just east of 135th Street off Central, within the “Crescent Creek” community. Exterior materials include brick complemented by Smart lap siding.
As part of the community, residents will have access to a future clubhouse (with basement) planned to include a pool, a stocked lake, and walking paths. The HOA is stated as $125 per month and covers mowing, trash, irrigation, and amenities.
Key Highlights
- New construction 2026 ranch duplex in the Crescent Creek community
- Each unit offers a 3‑bedroom, 2‑bath layout with 2‑car garage and 1,456 SF
- Inside features include vaulted ceilings, walk‑in closets, and LVT flooring throughout
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 | $18.3k | $12.60 |
| − Vacancy | −$1.2k | −$0.82 |
| EGI | $17.2k | $11.78 |
| − OpEx | −$5.1k | −$3.53 |
| NOI | $12.0k | $8.25 |
1,456 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$171.5K
$150.1K – $200.1K
NOI $12,007 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$159.6K
$139.6K – $186.2K
NOI $11,170 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$360.5K
$315.5K – $420.6K
NOI $25,236 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Newly built duplex units offer 3-bedroom, 2-bath layouts with a 2-car garage and a fenced, landscaped yard.
Where is this duplex located?
The property is located at 707 N Rainbow Lake St Wichita, KS.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: New construction 2026 ranch duplex in the Crescent Creek community; Each unit offers a 3‑bedroom, 2‑bath layout with 2‑car garage and 1,456 SF; Inside features include vaulted ceilings, walk‑in closets, and LVT flooring throughout
