3973 W Longleaf · Wichita, KS 67205

$219,000

3 bd · 2.5 ba · 1,512 sqft · MultiFamily · 136 Days on market

Built 2026 Excellent condition 4,791 sqft lot $70/mo HOA · 4% of rent ↓ 48% since listing

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +3.8/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• 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

Listing remarks MLS

Welcome to our Tracy Floorplan. The Pineway Community is a brand-new multi-family neighborhood located in Northwest Wichita. This community will offer a unique blend of modern living and natural beauty, with well-designed duplex homes in the Maize School District. Pineway will offer residents a peaceful and friendly atmosphere, making it a charming community to call home. Whether you’re a first-time homebuyer, family, or empty nester, the Pineway community is the perfect place to start your next chapter, with the added bonus of lawn maintenance that is covered with your HOA. With its combination of comfort, convenience, and easy access to 21st Street, Zoo Boulevard, K-96 and 235, this neighborhood is the ideal location for anyone looking for a balanced and fulfilling lifestyle.

Key facts

• Lawn maintenance
• Zoo boulevard
• Pineway community

Tags

• PINEWAY COMMUNITY
• MULTI-FAMILY NEIGHBORHOOD
• MAIZE SCHOOL DISTRICT
• LAWN MAINTENANCE
• EASY ACCESS TO 21ST STREET
• ZOO BOULEVARD

Property features AI

Finance

• Other: Two total units; Owner does not pay utilities
• HOA & community: Community association with a fee of $1,680

Exterior

• Parking: Attached parking; 4 total parking spaces (2 per unit)
• Security: Fenced
• Utilities: Natural gas available; Sewer available; Public water
• Home design: Duplex
• Construction: Composition roof
• Exterior features: Fenced yard; Sprinkler system

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range
• Heating & cooling: Electric cooling; Forced air heating; Natural gas heating
• Interior features: Dishwasher; Disposal; Microwave; Range

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $219k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• Recommended offer: $193k (12.0% below list) — sets the bar for market timing.

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+, crime F, commute F.
• Maize (rural): math 36% / reading 45% proficiency, ranked #20 of 169 in KS (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Vermillion Elementary School (math 40% / reading 43%, grade F, #306 of 684 statewide, top 45%, 835 students, 25% FRL); Maize Middle School (math 25% / reading 37%, grade F, #62 of 219 statewide, top 28%, 734 students, 29% FRL); Maize Sr High (math 25% / reading 26%, grade F, #98 of 327 statewide, top 30%, 1,289 students, 26% FRL).
• Market conditions: Rents rising fast (+4.4%/yr); 211 active listings in the ZIP; 1 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 ($121k/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 + 4.4% rent growth), your $61k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 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 $192,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.50% ✓
• Cap rate: 11.86%
• Cash-on-cash: 19.89%
• DSCR: 1.89
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.36% rent growth · sell at horizon

5-year hold

• IRR: 13.6%
• Equity multiple: 1.55×
• Total profit: $33,906
• Equity at exit: $32,654

10-year hold

• IRR: 23.5%
• Equity multiple: 3.16×
• Total profit: $132,517
• Equity at exit: $18,935

Cash invested: $61,320 (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 67205

• Home prices YoY: -18.9%
• Rents YoY: 4.4%
• Active inventory: 211
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $3,291 medium
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$70
• Vacancy / Maint / Mgmt: −$691
• Net cashflow: $1,016

Break-even live

Break-even rent $2,004

Max offer price $219,000

Occupancy floor 64%

Sensitivity live

Price	-10% $1,168	-5% $1,092	+0% $1,016	+5% $941	+10% $865
Rent	-10% $756	-5% $886	+0% $1,016	+5% $1,146	+10% $1,276
Rate	-1.0pp $1,127	-0.5pp $1,072	base $1,016	+0.5pp $960	+1.0pp $902

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,292
Total (2 units)			$3,291

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3001 N West St Wichita, KS	3.0–4.0	2.0–3.0	1515	$1,595	$1.05	25d	1	0.03mi

HOA detail

• Monthly dues: $70 · $840/yr

Listing history 19 events

1. 2026-06-21
   days on market $219,000 Active 136 DOM
2. 2026-06-18
   days on market $219,000 Active 133 DOM
3. 2026-06-17
   days on market $219,000 Active 132 DOM
4. 2026-06-16
   days on market $219,000 Active 131 DOM
5. 2026-06-15
   days on market $219,000 Active 130 DOM
6. 2026-06-14
   days on market $219,000 Active 128 DOM
7. 2026-06-13
   pricedays on marketlisting id $219,000 Active 127 DOM
8. 2026-06-10
   days on market $418,000 Active 125 DOM
9. 2026-06-09
   days on market $418,000 Active 124 DOM
10. 2026-06-08
    days on market $418,000 Active 123 DOM
11. 2026-06-07
    days on market $418,000 Active 122 DOM
12. 2026-06-05
    days on market $418,000 Active 119 DOM
13. 2026-06-03
    days on market $418,000 Active 118 DOM
14. 2026-06-02
    days on market $418,000 Active 117 DOM
15. 2026-06-01
    days on market $418,000 Active 116 DOM
16. 2026-05-31
    days on market $418,000 Active 115 DOM
17. 2026-05-30
    days on market $418,000 Active 114 DOM
18. 2026-02-05
    listed $418,000 Active

    Show marketing remark (794 chars)

    Welcome to our Tracy Floorplan. The Pineway Community is a brand-new multi-family neighborhood located in Northwest Wichita. This community will offer a unique blend of modern living and natural beauty, with well-designed duplex homes in the Maize School District. Pineway will offer residents a peaceful and friendly atmosphere, making it a charming community to call home. Whether you’re a first-time homebuyer, family, or empty nester, the Pineway community is the perfect place to start your next chapter, with the added bonus of lawn maintenance that is covered with your HOA. With its combination of comfort, convenience, and easy access to 21st Street, Zoo Boulevard, K-96 and 235, this neighborhood is the ideal location for anyone looking for a balanced and fulfilling lifestyle.

19. 2026-02-05
    listed $219,000 Active 794-char remark

    Show marketing remark (794 chars)

    Welcome to our Tracy Floorplan. The Pineway Community is a brand-new multi-family neighborhood located in Northwest Wichita. This community will offer a unique blend of modern living and natural beauty, with well-designed duplex homes in the Maize School District. Pineway will offer residents a peaceful and friendly atmosphere, making it a charming community to call home. Whether you’re a first-time homebuyer, family, or empty nester, the Pineway community is the perfect place to start your next chapter, with the added bonus of lawn maintenance that is covered with your HOA. With its combination of comfort, convenience, and easy access to 21st Street, Zoo Boulevard, K-96 and 235, this neighborhood is the ideal location for anyone looking for a balanced and fulfilling lifestyle.

ⓘ 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: $39,492
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$3,159
• − Management: −$3,159
• − HOA: −$840
• − Depreciation: −$6,371
• Taxable income: $9,315
• Est. tax owed @ 24.0%: −$2,236
• After-tax cash flow: $9,962/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 · 13 photos

Excellent 95/100 None rehab

This multi-family home is in excellent condition with a modern kitchen, good exterior, and minimal maintenance needs. It has a good curb appeal and is ready for immediate occupancy.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters.
• Both Painting the exterior siding — Fresh paint can make the home look more appealing and increase its value.
• Both Landscaping and adding plants — Improves the curb appeal and can attract more buyers or renters.
• Both Adding a small garden or flower bed — Enhances the home's curb appeal and can attract more buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters. ↑
• Both Painting the exterior siding — Fresh paint can make the home look more appealing and increase its value. ↑
• Both Landscaping and adding plants — Improves the curb appeal and can attract more buyers or renters. ↑
• Both Adding a small garden or flower bed — Enhances the home's curb appeal and can attract more buyers or renters. ↑

ⓘ 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: Maize
• NCES district ID: 2009140
• Math proficiency: 36% ▼ -6.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $87,686
• Composite: 38.48/100
• National rank: #4184
• State rank: #20 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): 20,098
• Household income: $121,245
• Rent vs Own: 20.6% rent · 79.4% own
• Severe rent burden: 385.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 8% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4% Salvadoran 1%
• Common ancestry: Lithuanian 4% Italian 3% Iranian 2%
• Foreign-born: 4% · Canada, Vietnam, Dominican Republic
• Languages at home: 94% English-only · Spanish 3% Vietnamese 1% Chinese 0%

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: ▼ -48.67%
• Current HPI: 209.3886
• Rent YoY: ▲ 4.36%
• Metro: Wichita, KS
• State GDP YoY: —
• F500 in state: 0

Price history

-47.6% since first listed

2 events — show timeline

• 2026-02-05 Listed $219,000 SCKMLS as Distributed by MLS Grid
• 2026-02-05 Listed $418,000 SCKMLS as Distributed by MLS Grid