New Duplex with Covered
For Sale
$459,800
814 N Wheatland St Unit 100, Wichita, KS 67235
Two attached residences offer open-concept interiors, private fenced yards, garages, and access to planned Crescent Creek amenities.
Property Size2,712 SF
Price / SF$169.54
Days on Market10
Property Features for 814 N Wheatland St Unit 100
General Information
Standard status
Active
Size
2,712 SF
Property subtype
Multi-Family
Building Details
Year Built
2025
Listing Agency:
RE/MAX Premier
Listed By:
Karen Hampton · License #00052101
(316) 641-9442
Source:
Highpointks
Added: Sep 12
Last Checked: Sep 21 at 9:04AM
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 2025, this duplex contains two residences, each with 1,356 square feet, three bedrooms, two bathrooms, and a two-car garage. The interiors use an open arrangement connecting the living room and kitchen, with vaulted ceilings, an electric fireplace, quartz counters, stainless steel appliances, ample cabinetry, and pantry storage. Each home also includes a primary suite with dual vanities, a walk-in shower, and a large walk-in closet.
The property is located in Crescent Creek, approximately one-half mile east of 135th Street on Central in Wichita. The 814 Wheatland residence sits on the lake and adds a 14-by-12 covered rear patio. Both sides feature covered front porches, covered patios, fully fenced yards, and sprinkler systems. Planned community features include a clubhouse with basement, swimming pool, pickleball court, stocked lake, and walking paths.
The property is located in Crescent Creek, approximately one-half mile east of 135th Street on Central in Wichita. The 814 Wheatland residence sits on the lake and adds a 14-by-12 covered rear patio. Both sides feature covered front porches, covered patios, fully fenced yards, and sprinkler systems. Planned community features include a clubhouse with basement, swimming pool, pickleball court, stocked lake, and walking paths.
Key Highlights
- Duplex with two 1,356‑square‑foot residences
- Each side includes 3 bedrooms, 2 bathrooms, and a 2‑car garage
- 814 Wheatland is on the lake and has a 14x12 covered back patio
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
$22,365
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
4.86%
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%
$447,300
$447.3K
Cap Rate 7%
$319,500
$319.5K
Cap Rate 9%
$248,500
$248.5K
Market Conditions
NOI Build-Up for 2,712 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
$34.2K $12.60/SF
− Vacancy
−$2.2K −$0.82/SF
EGI
$32.0K $11.78/SF
− OpEx
−$9.6K −$3.53/SF
NOI
$22.4K $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%
$447,300
Cap Rate 7%
$319,500
Cap Rate 9%
$248,500
Alternative Uses
Best Use
Multifamily LT 5
$319.5K
$279.6K – $372.8K
NOI $22,365 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$297.2K
$260.1K – $346.8K
NOI $20,805 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$671.5K
$587.6K – $783.4K
NOI $47,005 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two attached residences offer open-concept interiors, private fenced yards, garages, and access to planned Crescent Creek amenities.
Where is this duplex located?
The property is located at 814 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: Duplex with two 1,356‑square‑foot residences; Each side includes 3 bedrooms, 2 bathrooms, and a 2‑car garage; 814 Wheatland is on the lake and has a 14x12 covered back patio
