1725-1727 E 69th Ct N

Park City, KS 67219

$313,900D

6 bd · 0.0 ba · 2,360 sqft · Built 2021 · MultiFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,836/mo
• Mortgage (P&I): −$1,646
• Tax + insurance: −$523
• HOA: −$137
• Vac / Maint / Mgmt: −$596
• Net cashflow: $-66/mo
• Annual: $-790/yr
• Cap rate: 6.04%
• Cash-on-cash: -0.90%
• DSCR: 0.96
• 1% rule: 0.90%
• Cash to close: $87,892

Investor read

• This is a 2 × 3-bed/2-bath units multifamily listed at $314k.
• At list price, monthly cash flow is $-66 ($-790/yr) — negative. Per door: $-33/mo.
• To cash-flow at today's rent, offer at most $304k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $284k (9.7% below list).
• It's been on market 44 days — a 3% lower offer ($304k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $284k (9.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#277 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: amenities F, commute F, health & safety F.
• Valley Center Pub Schools (suburban): math 30% / reading 37% proficiency, ranked #57 of 169 in KS (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Abilene Elem (math 64% / reading 64%, grade B, #45 of 684 statewide, top 8%, 259 students, 50% FRL); Valley Center Middle School (math 23% / reading 28%, grade F, #104 of 219 statewide, top 49%, 761 students, 42% FRL); Valley Center High (math 22% / reading 22%, grade F, #165 of 327 statewide, top 55%, 995 students, 34% FRL).
• Market conditions: Rents rising fast (+10.2%/yr); 37 active listings in the ZIP; 2,613 units permitted in Sedgwick County in 2024 (258 in 5+ unit buildings).
• Sedgwick County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 5y ago 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.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $2,836/mo this rent would consume 48% of the median local household income ($71k/yr) (locally 278% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?