12903 W Thorton St · Wichita, KS 67235

$229,900

3 bd · 2.0 ba · 1,411 sqft · MultiFamily · 6 Days on market

Built 2025 Fair condition 0.32 ac lot $125/mo HOA · 8% of rent

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• Quartz countertops
• The sunflower plan
• Large eating bar

Tags

• CRESCENT CREEK COMMUNITY
• THE SUNFLOWER PLAN
• MODERN KITCHEN
• LARGE EATING BAR
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• HOA & community: Has association; Association fee approximately $1,500; One-time initiation fee around $200; Association covers lawn service, trash, and general upkeep of common areas

Exterior

• Parking: 2-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Sewer available; Natural gas available
• Home design: Duplex; Composition roof
• Construction: Composition roof; No basement/Foundation listed as none
• Exterior features: One-level layout; Wrought iron fencing; Patio

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator; Range
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Electric cooling; Forced air heating; Natural gas heating
• Interior features: Smoke detectors; Storm windows; Patio
• Laundry & utility: Main floor laundry in a separate room with 220V hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $230k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $860 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).

Location & tenants

• Location reads 72/100 on livability (#100 in KS) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment D+, schools F, crime F.
• Goddard (rural): math 38% / reading 46% proficiency, ranked #18 of 169 in KS (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 217 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 2,613 units permitted in Sedgwick County in 2024 (258 in 5+ unit buildings).
• This rent runs 33% of the median local income ($118k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Sedgwick County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $229,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.42% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.03%
• DSCR: 1.71
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.0%
• Equity multiple: 1.27×
• Total profit: $17,648
• Equity at exit: $34,279

10-year hold

• IRR: 16.4%
• Equity multiple: 2.34×
• Total profit: $86,412
• Equity at exit: $19,878

Cash invested: $64,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kansas: 83 Strongly Landlord-Friendly · R+10
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; moderate court pace.

Methodology + full state rankings →

ZIP-level market 67235

• Home prices YoY: -16.1%
• Active inventory: 217
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $3,258 medium
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$287 /mo · $3,448/yr
• Insurance: −$96
• HOA: −$125
• Vacancy / Maint / Mgmt: −$684
• Net cashflow: $860

Break-even live

Break-even rent $2,169

Max offer price $229,900

Occupancy floor 69%

Sensitivity live

Price	-10% $1,019	-5% $939	+0% $860	+5% $781	+10% $701
Rent	-10% $603	-5% $731	+0% $860	+5% $989	+10% $1,117
Rate	-1.0pp $976	-0.5pp $919	base $860	+0.5pp $800	+1.0pp $740

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,258
Total (2 units)			$3,258

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
191 S 135th St W Wichita, KS	1.0–3.0	1.0–2.0	1133	$2,000	$1.76	14d	1	1.07mi
13625 W Nantucket St Wichita, KS	3.0	2.0	1100	$1,395	$1.27	21d	1	1.14mi

HOA detail

• Monthly dues: $125 · $1,500/yr

Listing history 5 events

1. 2026-06-18
   days on market $229,900 Active 6 DOM
2. 2026-06-17
   days on market $229,900 Active 5 DOM
3. 2026-06-16
   days on market $229,900 Active 4 DOM
4. 2026-06-15
   days on market $229,900 Active 3 DOM
5. 2026-06-13
   listed $229,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $39,096
• − Mortgage interest: −$12,878
• − Property taxes: −$3,448
• − Insurance: −$1,150
• − Repairs & maintenance: −$3,128
• − Management: −$3,128
• − HOA: −$1,500
• − Depreciation: −$6,688
• Taxable income: $7,177
• Est. tax owed @ 24.0%: −$1,722
• After-tax cash flow: $8,598/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 1 photo

Fair 40/100 Moderate rehab

The home is in fair condition with moderate rehabilitation needed, focusing on exterior and roof maintenance.

Repairs flagged

• Major roof inspection — No visible damage, but may need inspection
• Minor exterior paint touch-up — Slight wear

Value-add opportunities

• Both exterior paint touch-up — Enhances curb appeal and value
• Both roof inspection — Ensures structural integrity and protects against leaks

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof inspection · No visible damage, but may need inspection	Major	$15,000–50,000
exterior paint touch-up · Slight wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both exterior paint touch-up — Enhances curb appeal and value ↑
• Both roof inspection — Ensures structural integrity and protects against leaks ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Goddard
• NCES district ID: 2006540
• Math proficiency: 38% ▼ -4.00%
• Reading proficiency: 46% ▼ -2.00%
• Median HH income: $80,167
• Composite: 39.01/100
• National rank: #4067
• State rank: #18 of 169 in KS

Livability — Wichita

• Score: 72/100
• State rank: #100
• US rank: #5730

Category grades

Amenities A+ Commute F Cost of living A+ Crime F Employment D+ Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sedgwick County · 432,957 people
• City population: 365,168
• Metro: Wichita, KS
• Population (ZIP): 14,958
• Household income: $118,050
• Rent vs Own: 6.4% rent · 93.6% own
• Severe rent burden: 49.0

Population outlook (Sedgwick County) Hauer SSP2

• Today (2025): 537,014 people
• By 2030: 546,984 · +1.9%
• By 2040: 559,141 · +4.1%
• By 2050: 562,027 · +4.7%
• By 2075: 557,255 · +3.8%
• By 2100: 513,383 · -4.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 9% Two or more races 8% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Lithuanian 2% Iranian 2%
• Foreign-born: 4% · Canada, Vietnam, China
• Languages at home: 95% English-only · Spanish 3% Vietnamese 1% Other Indo-European 1%

Political lean MEDSL · Sedgwick

• 2024 margin: R (+13.8) · D 42.3% · R 56.1% · Other 1.6%
• 2008→2024 swing: -1.1pp toward R · 2008: -12.7pp · 2024: -13.8pp
• All cycles: 2024: R+13.8 2020: R+12.6 2016: R+19.1 2012: R+19.7 2008: R+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.88%
• Current HPI: 212.876
• Rent YoY: —
• Metro: Wichita, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

3 events — show timeline

• 2026-06-12 Listed $229,900 SCKMLS as Distributed by MLS Grid
• 2026-06-12 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2026-06-12 Listed $229,900 SCKMLS as Distributed by MLS Grid