New Duplex with Attached
New
For Sale
$459,800
806 N Wheatland St Unit 100, Wichita, KS 67235
Two modern residences feature private fenced yards, covered patios, upgraded kitchens, and suite-style primary bedrooms.
Property Size2,822 SF
Price / SF$162.93
Days on Market6
Property Features for 806 N Wheatland St Unit 100
General Information
Standard status
Active
Size
2,822 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Amenities
electric fireplace
vaulted ceilings
eating bar
quartz countertops
stainless steel appliances
pantry
walk-in closet
double vanities
walk-in shower
covered patio
fenced yard
sprinkler system
Building Details
Year Built
2026
Buildings
1
Listing Agency:
RE/MAX Premier
(316) 641-9442
Listed By:
Karen Hampton · License #00052101
Source:
Highpointks
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 30 at 8:57PM
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 RE/MAX Premier
Investment Insights
Based on property information with market context.
Built in 2026, this duplex contains approximately 2,822 square feet with two separately configured residences. Each side offers three bedrooms, two bathrooms, a two-car garage, a vaulted living room with an electric fireplace, and a kitchen equipped with quartz countertops, stainless steel appliances, a pantry, and an eating bar. Primary suites include walk-in closets, double vanities, and walk-in showers.
The property includes covered outdoor living areas and fully fenced yards with sprinkler systems. One residence at 806 N Wheatland St Unit 100 fronts the lake and has a 12-by-14-foot rear covered patio; the other includes a private 10-by-12-foot covered patio. The duplex is located in the Crescent Creek community, east of 135th Street off Central in Wichita. An HOA is being established to provide lawn mowing, irrigation, and trash service, with a swimming pool and clubhouse planned for the community.
The property includes covered outdoor living areas and fully fenced yards with sprinkler systems. One residence at 806 N Wheatland St Unit 100 fronts the lake and has a 12-by-14-foot rear covered patio; the other includes a private 10-by-12-foot covered patio. The duplex is located in the Crescent Creek community, east of 135th Street off Central in Wichita. An HOA is being established to provide lawn mowing, irrigation, and trash service, with a swimming pool and clubhouse planned for the community.
Key Highlights
- 2,822 SF duplex built in 2026
- Each side has 3 bedrooms, 2 baths, and a 2‑car garage
- Quartz kitchen countertops, stainless steel appliances, pantry, and eating bar
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,272
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$465,440
$465.4K
Cap Rate 7%
$332,457
$332.5K
Cap Rate 9%
$258,578
$258.6K
Market Conditions
NOI Build-Up for 2,822 SF
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.
Gross rent
$35.6K $12.60/SF
− Vacancy
−$2.3K −$0.82/SF
EGI
$33.2K $11.78/SF
− OpEx
−$10.0K −$3.53/SF
NOI
$23.3K $8.25/SF
Area
Wichita, KS
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$465,440
Cap Rate 7%
$332,457
Cap Rate 9%
$258,578
Alternative Uses
Best Use
Multifamily LT 5
$332.5K
$290.9K – $387.9K
NOI $23,272 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$309.3K
$270.6K – $360.8K
NOI $21,649 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$698.7K
$611.4K – $815.2K
NOI $48,912 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
275
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two modern residences feature private fenced yards, covered patios, upgraded kitchens, and suite-style primary bedrooms.
Where is this duplex located?
The property is located at 806 N Wheatland St Unit 100 Wichita, KS.
What is the asking price?
The asking price for this property is $459,800.
What are key features of this property?
This property features: 2,822 SF duplex built in 2026; Each side has 3 bedrooms, 2 baths, and a 2‑car garage; Quartz kitchen countertops, stainless steel appliances, pantry, and eating bar
