2885 S Cedar Crest Ct · Wichita, KS 67215

$189,900

3 bd · 2.0 ba · 1,195 sqft · MultiFamily · 53 Days on market

Built 2026 Good condition 7,840 sqft lot $85/mo HOA · 6% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• 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

West Wichita's newest area, "Pawnee Crossing" - located half mile south of Pawnee on 119th in the Goddard School district. These zero entry twin homes include 3 bdrms. 2 baths and a 2-car garage. Custom features throughout include granite/quartz countertops, luxury vinyl tile flooring, enameled white trim, and an electric fireplace in the living room. Kitchen boasts separate eating island, large walk-in pantry and stainless steel appliances which include stove, dishwasher, built-in microwave and refrigerator. Master bedroom suite features a Master bath with a walk-in shower and a large walk-in closet. Separate laundry room off garage. Fully landscaped fenced yard with sprinkler system and a shared irrigation well. General and special taxes are not fully assessed yet. Special taxes are estimated at $177 per month per side. There will be a minimal HOA fee of $85/month which will include mowing, irrigation, and general upkeep of the common areas. Pictures are representative of another property but same plan and may have slight variations. All information deemed reliable but not guaranteed. Buyers and buyers agents to verify all information. Listing agent is related to one of the seller members.

Key facts

• Electric fireplace
• Large walk-in pantry
• 7,840 sq ft lot

Tags

• GRANITE QUARTZ COUNTERTOPS
• LUXURY VINYL TILE FLOORING
• ELECTRIC FIREPLACE
• SEPARATE EATING ISLAND
• LARGE WALK-IN PANTRY
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $190k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $985 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $184k (3.0% 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.
• 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.
• Zoned schools: Amelia Earhart Elementary School (math 52% / reading 52%, grade C-, #131 of 684 statewide, top 23%, 491 students, 26% FRL); Goddard Middle School (math 26% / reading 32%, grade F, #85 of 219 statewide, top 40%, 493 students, 30% FRL); Goddard High (math 22% / reading 27%, grade F, #105 of 327 statewide, top 49%, 948 students, 31% FRL).
• Market conditions: 109 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 2,613 units permitted in Sedgwick County in 2024 (258 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 $53k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $190k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $184,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.59% ✓
• Cap rate: 12.52%
• Cash-on-cash: 22.24%
• DSCR: 1.99
• GRM: 5.2

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: 15.0%
• Equity multiple: 1.60×
• Total profit: $32,079
• Equity at exit: $28,315

10-year hold

• IRR: 23.8%
• Equity multiple: 3.05×
• Total profit: $109,136
• Equity at exit: $16,419

Cash invested: $53,172 (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 67215

• Home prices YoY: -14.1%
• Active inventory: 109
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $3,016 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$85
• Vacancy / Maint / Mgmt: −$633
• Net cashflow: $985

Break-even live

Break-even rent $1,769

Max offer price $189,900

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,016
Total (2 units)			$3,016

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11828 W Graber St Unit 100 Wichita, KS	3.0	2.0	1195	$1,595	$1.33	23d	1	0.54mi
11262 W 35th Cir S Wichita, KS	4.0	2.0	1376	$1,595	$1.16	14d	1	0.93mi
11250 35th Cir Wichita, KS	4.0	2.0	1376	$1,595	$1.16	23d	1	0.94mi
11304 W 35th St S Wichita, KS	4.0	2.0	1376	$1,595	$1.16	14d	1	1.13mi
11240 W 35th St S Wichita, KS	4.0	2.0	1376	$1,595	$1.16	14d	1	1.13mi
11256 W 35th St S Wichita, KS	3.0	2.0	1220	$1,495	$1.23	14d	1	1.13mi
11258 W 35th St S Wichita, KS	3.0	2.0	1220	$1,495	$1.23	14d	1	1.13mi
11268 W 35th St S Wichita, KS	3.0	2.0	1220	$1,495	$1.23	21d	1	1.13mi
11244 W 35th St S Wichita, KS	3.0	2.0	1220	$1,495	$1.23	21d	1	1.13mi
11246 W 35th St S Wichita, KS	3.0	2.0	1220	$1,495	$1.23	23d	1	1.13mi
11252 W 35th St S Wichita, KS	4.0	2.0	1376	$1,595	$1.16	14d	1	1.13mi
11264 W 35th St S Wichita, KS	4.0	2.0	1376	$1,595	$1.16	14d	1	1.13mi
11306 W 35th St S Wichita, KS	4.0	2.0	1376	$1,595	$1.16	14d	1	1.13mi
11238 W 35th St S Wichita, KS	4.0	2.0	1376	$1,595	$1.16	14d	1	1.13mi
11270 W 35th St S Wichita, KS	3.0	2.0	1220	$1,495	$1.23	14d	1	1.13mi
12820 W Wheatland Ct Wichita, KS	3.0	2.0	1186	$1,500	$1.26	23d	1	1.44mi

HOA detail

• Monthly dues: $85 · $1,020/yr
• Likely covers: electric

Listing history 18 events

1. 2026-06-18
   days on market $189,900 Active 53 DOM
2. 2026-06-17
   days on market $189,900 Active 52 DOM
3. 2026-06-16
   days on marketlisting id $189,900 Active 51 DOM
4. 2026-06-15
   days on market $189,900 Active 50 DOM
5. 2026-06-14
   days on market $189,900 Active 48 DOM
6. 2026-06-13
   pricedays on marketlisting id $189,900 Active 47 DOM
7. 2026-06-10
   days on market $379,800 Active 45 DOM
8. 2026-06-09
   days on market $379,800 Active 44 DOM
9. 2026-06-08
   days on market $379,800 Active 43 DOM
10. 2026-06-07
    pricedays on marketlisting id $379,800 Active 42 DOM
11. 2026-06-03
    days on market $189,900 Active 38 DOM
12. 2026-06-02
    days on market $189,900 Active 37 DOM
13. 2026-06-01
    days on market $189,900 Active 36 DOM
14. 2026-05-31
    days on market $189,900 Active 35 DOM
15. 2026-05-30
    days on market $189,900 Active 34 DOM
16. 2026-04-26
    listed $189,900 Active 1220-char remark

    Show marketing remark (1247 chars)

    West Wichita's newest area, "Pawnee Crossing" - located half mile south of Pawnee on 119th in the Goddard School district. These zero entry twin homes include 3 bdrms. 2 baths and a 2-car garage per side. Custom features throughout include granite/quartz countertops, luxury vinyl tile flooring, enameled white trim, and an electric fireplace in the living room. Kitchen boasts separate eating island, large walk-in pantry and stainless steel appliances which include stove, dishwasher, built-in microwave and refrigerator. Master bedroom suite features a Master bath with a walk-in shower and a large walk-in closet. Separate laundry room off garage. Fully landscaped fenced yard with sprinkler system and a shared irrigation well. General and special taxes are not fully assessed yet. Special taxes are estimated at $354 per month on a 15 yr payout. There will be a minimal HOA fee of $85/month per side which will include mowing, irrigation, and general upkeep of the common areas. Pictures are representative of another property but same plan and may have slight variations. All information deemed reliable but not guaranteed. Buyers and buyers agents to verify all information. Listing agent is related to one of the seller members.

17. 2026-04-26
    listed $189,900 Active

    Show marketing remark (1247 chars)

    West Wichita's newest area, "Pawnee Crossing" - located half mile south of Pawnee on 119th in the Goddard School district. These zero entry twin homes include 3 bdrms. 2 baths and a 2-car garage per side. Custom features throughout include granite/quartz countertops, luxury vinyl tile flooring, enameled white trim, and an electric fireplace in the living room. Kitchen boasts separate eating island, large walk-in pantry and stainless steel appliances which include stove, dishwasher, built-in microwave and refrigerator. Master bedroom suite features a Master bath with a walk-in shower and a large walk-in closet. Separate laundry room off garage. Fully landscaped fenced yard with sprinkler system and a shared irrigation well. General and special taxes are not fully assessed yet. Special taxes are estimated at $354 per month on a 15 yr payout. There will be a minimal HOA fee of $85/month per side which will include mowing, irrigation, and general upkeep of the common areas. Pictures are representative of another property but same plan and may have slight variations. All information deemed reliable but not guaranteed. Buyers and buyers agents to verify all information. Listing agent is related to one of the seller members.

18. 2026-04-26
    listed $379,800 Active 1247-char remark

    Show marketing remark (1247 chars)

    West Wichita's newest area, "Pawnee Crossing" - located half mile south of Pawnee on 119th in the Goddard School district. These zero entry twin homes include 3 bdrms. 2 baths and a 2-car garage per side. Custom features throughout include granite/quartz countertops, luxury vinyl tile flooring, enameled white trim, and an electric fireplace in the living room. Kitchen boasts separate eating island, large walk-in pantry and stainless steel appliances which include stove, dishwasher, built-in microwave and refrigerator. Master bedroom suite features a Master bath with a walk-in shower and a large walk-in closet. Separate laundry room off garage. Fully landscaped fenced yard with sprinkler system and a shared irrigation well. General and special taxes are not fully assessed yet. Special taxes are estimated at $354 per month on a 15 yr payout. There will be a minimal HOA fee of $85/month per side which will include mowing, irrigation, and general upkeep of the common areas. Pictures are representative of another property but same plan and may have slight variations. All information deemed reliable but not guaranteed. Buyers and buyers agents to verify all information. Listing agent is related to one of the seller members.

ⓘ 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: $36,192
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$2,895
• − Management: −$2,895
• − HOA: −$1,020
• − Depreciation: −$5,524
• Taxable income: $9,422
• Est. tax owed @ 24.0%: −$2,261
• After-tax cash flow: $9,562/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 · 6 photos

Good 80/100 Cosmetic rehab

This home is in good condition with recent updates, offering a move-in-ready living experience.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Landscaping — Improves curb appeal and rental value
• Both Replace ceiling fans with energy-efficient models — Saves on energy costs and enhances comfort

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Landscaping — Improves curb appeal and rental value ↑
• Both Replace ceiling fans with energy-efficient models — Saves on energy costs and enhances comfort ↑

ⓘ 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

• City population: 365,168
• Population (ZIP): 6,468

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 14% Two or more races 9% Asian 8% Black 4%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Lithuanian 4% Romanian 2% Iranian 2%
• Foreign-born: 10% · Vietnam, Canada, South Korea
• Languages at home: 82% English-only · Spanish 11% Other Asian/Pacific 2% Korean 2%

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: ▼ -43.22%
• Current HPI: 262.6723
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+100.0% since first listed

3 events — show timeline

• 2026-04-26 Listed $379,800 SCKMLS as Distributed by MLS Grid
• 2026-04-26 Listed $189,900 SCKMLS as Distributed by MLS Grid
• 2026-04-26 Listed $189,900 SCKMLS as Distributed by MLS Grid