Updated Duplex with
New
For Sale
$339,800
8702-8704 E Longlake Cir, Wichita, KS 67207
MULTI_FAMILY - Wichita, KS
Property Size3,403 SF
Lot Size0.26 Acres
Price / SF$99.85
Days on Market1
Property Features for 8702-8704 E Longlake Cir
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
8
Basement
Finished
Appliances
Dishwasher, Disposal, Refrigerator
Subdivision
CEDAR LAKE VILLAGE
Elementary school
Beech
Middle school
Curtis
High school
Southeast
Elementary school district
Wichita School District (USD 259)
Middle school district
Wichita School District (USD 259)
High school district
Wichita School District (USD 259)
Directions
E oh Harry from Rock, S on Longford, E on Longlake to home
Standard status
Active
APN
00182548
Size
3,403 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 25 EXC E 40.15 FT BLOCK 2 CEDAR LAKES 1st & E 40.15 FT LOT 25 BLOCK 2 CEDAR LAKES VILLAGE 1st AD
Tax Annual Amount
3470
Legal Description
LOT 25 EXC E 40.15 FT BLOCK 2 CEDAR LAKES 1st & E 40.15 FT LOT 25 BLOCK 2 CEDAR LAKES VILLAGE 1st AD
Utilities
Utilities
Natural Gas Available
Heating system
Electric (Heating), Forced Air
Cooling system
Electric, Ceiling Fan(s)
Water source
Public
Amenities
fireplace
finished basement
Building Details
Year built
1976
Number of units
2
Building materials
Frame
Roof type
Composition
Listing Agency:
ERA Great American Realty · ERA Real Estate
(316) 722-9393
Listed By:
Jason Pinkston
(316) 992-6220
Added: Aug 17
Last Checked: Aug 17 at 11:06PM
MLS# 677667
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 duplex contains two separate residences, each arranged with 3 bedrooms, 2 full baths, an attached 2-car garage, and a finished basement. The units have been updated with luxury vinyl plank flooring, refreshed kitchens with ample cabinetry, and renovated bathrooms. Comfortable living areas include fireplaces, while the property also offers dishwashers, disposals, and refrigerators. Built in 1976, the 3,403-square-foot property sits on 0.2565 acres and features frame construction, composition roofing, forced-air and electric heating, electric cooling, ceiling fans, public water, and natural gas availability.
The property is located in Wichita’s established Chisholm Creek area, with access to shopping, dining, schools, and major Wichita roads. Separate unit layouts provide flexibility for residential income use or combined ownership of both residences.
The property is located in Wichita’s established Chisholm Creek area, with access to shopping, dining, schools, and major Wichita roads. Separate unit layouts provide flexibility for residential income use or combined ownership of both residences.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 full baths per side
- Each unit includes an attached 2‑car garage and finished basement
- 3,403 square feet on a 0.2565‑acre lot
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
$27,883
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
8.21%
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%
$557,660
$557.7K
Cap Rate 7%
$398,329
$398.3K
Cap Rate 9%
$309,811
$309.8K
Market Conditions
NOI Build-Up for 3,403 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
$41.7K $12.24/SF
− Vacancy
−$1.8K −$0.53/SF
EGI
$39.8K $11.71/SF
− OpEx
−$11.9K −$3.51/SF
NOI
$27.9K $8.19/SF
Area
ZIP 67207
Vacancy
4.37%
Lease Rate
$12.24 /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%
$557,660
Cap Rate 7%
$398,329
Cap Rate 9%
$309,811
Alternative Uses
Best Use
Multifamily LT 5
$398.3K
$348.5K – $464.7K
NOI $27,883 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$355.1K
$310.7K – $414.3K
NOI $24,855 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$734.5K
$642.7K – $856.9K
NOI $51,414 @ 7.0% cap · market cap 15.13%
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
624
Businesses Nearby
Explore this area
Business Placement
Demographics for 67207, KS
28,143
Population
12,755
Households
2.2
Avg Household Size
34
Median Age
29%
College-Educated
88%
High-School Grad
10.4 sq mi
ZIP Area
2,706
Density / Sq Mi
$66,400
Median Household Income
$39,070
Median Earnings
$961
Median Rent
$204,600
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 similar units combine flexible living arrangements with finished basements and attached parking.
Where is this duplex located?
The property is located at 8702-8704 E Longlake Cir Wichita, KS.
What is the asking price?
The asking price for this property is $339,800.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 full baths per side; Each unit includes an attached 2‑car garage and finished basement; 3,403 square feet on a 0.2565‑acre lot
