403 E 11th Ave · Winfield, KS 67156

$109,000

3 bd · 3.0 ba · 2,878 sqft · MultiFamily public records · 331 Days on market

Built 1900 6,000 sqft lot

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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
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• 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

• 6,000 sq ft lot
• 3 parking spots
• Built 1900

Property features AI

Finance

• Financial info: Owner pays gas, grounds care, and water/sewer

Exterior

• Parking: 3 total parking spaces; Assigned parking: 1 space per unit
• Utilities: Public water; Sewer available
• Home design: Triplex (3-unit property)
• Exterior features: Composition roof

Interior

• Heating & cooling: Forced air heating (natural gas); Electric cooling and window units; some units have individual window AC
• Interior features: No basement; No built-in appliances

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $109k.

Deal economics

• At list price, monthly cash flow is $778 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#111 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D+, amenities F.
• Winfield (rural): math 20% / reading 29% proficiency, ranked #138 of 169 in KS (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Winfield Middle School (math 16% / reading 29%, grade F, #130 of 219 statewide, top 61%, 499 students, 54% FRL); Winfield High (math 17% / reading 27%, grade F, #165 of 327 statewide, top 55%, 688 students, 49% FRL).
• Market conditions: 127 active listings in the ZIP; 41 units permitted in Cowley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cowley County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 331 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $40k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $29k; list at $109k implies a 277% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 331 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. Crime grade is D 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: 1.81% ✓
• Cap rate: 14.86%
• Cash-on-cash: 30.58%
• DSCR: 2.36
• GRM: 4.6

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: 25.3%
• Equity multiple: 2.05×
• Total profit: $31,923
• Equity at exit: $16,252

10-year hold

• IRR: 33.1%
• Equity multiple: 4.01×
• Total profit: $91,775
• Equity at exit: $9,424

Cash invested: $30,520 (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 67156

• Home prices YoY: -18.9%
• Active inventory: 127
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,972 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$163 /mo · $1,957/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $778

Break-even live

Break-even rent $987

Max offer price $109,000

Occupancy floor 56%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$1,972
Total (2 units)			$1,972

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $109,000 Active 331 DOM
2. 2026-06-17
   days on market $109,000 Active 330 DOM
3. 2026-06-16
   days on market $109,000 Active 329 DOM
4. 2026-06-15
   days on market $109,000 Active 328 DOM
5. 2026-06-13
   days on market $109,000 Active 326 DOM
6. 2026-06-12
   days on market $109,000 Active 325 DOM
7. 2026-06-09
   days on market $109,000 Active 322 DOM
8. 2026-06-08
   days on market $109,000 Active 321 DOM
9. 2026-06-07
   days on market $109,000 Active 320 DOM
10. 2026-06-05
    days on market $109,000 Active 318 DOM
11. 2026-06-04
    days on market $109,000 Active 316 DOM
12. 2026-06-02
    days on market $109,000 Active 315 DOM
13. 2026-06-01
    days on market $109,000 Active 314 DOM
14. 2026-05-31
    days on market $109,000 Active 313 DOM
15. 2026-05-31
    days on market $109,000 Active 312 DOM
16. 2026-04-28
    price $119,900
17. 2025-11-05
    price $134,000
18. 2025-09-03
    price $144,000
19. 2025-07-22
    listed $149,000 Active
20. 2023-02-18
    status Pending
21. 2023-02-14
    listed $99,500 Active
22. 1987-07-01
    soldstatus $28,900

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

Tax reassessment forecast KS · Resets to sale price

• Current annual tax: $1,957 · $163/mo
• Projected year-2 tax: $1,957 · $163/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,664
• − Mortgage interest: −$6,106
• − Property taxes: −$1,957
• − Insurance: −$545
• − Repairs & maintenance: −$1,893
• − Management: −$1,893
• − Depreciation: −$3,171
• Taxable income: $8,100
• Est. tax owed @ 24.0%: −$1,944
• After-tax cash flow: $7,390/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.

Schools (NCES district)

• District: Winfield
• NCES district ID: 2013050
• Math proficiency: 20% ▼ -7.00%
• Reading proficiency: 29% ▼ -3.00%
• Median HH income: $43,463
• Composite: 20.99/100
• National rank: #8462
• State rank: #138 of 169 in KS

Livability — Winfield

• Score: 72/100
• State rank: #111
• US rank: #6223

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winfield, KS
• City population: 14,183
• Population (ZIP): 14,183

Population outlook (Cowley County) Hauer SSP2

• Today (2025): 34,984 people
• By 2030: 34,410 · -1.6%
• By 2040: 33,265 · -4.9%
• By 2050: 32,421 · -7.3%
• By 2075: 31,488 · -10.0%
• By 2100: 30,276 · -13.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 7% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Vietnam, Canada
• Languages at home: 95% English-only · Spanish 1% Vietnamese 1% Other Asian/Pacific 1%

Political lean MEDSL · Cowley

• 2024 margin: Solid R (+40.3) · D 29.0% · R 69.3% · Other 1.7%
• 2008→2024 swing: -15.1pp toward R · 2008: -25.2pp · 2024: -40.3pp
• All cycles: 2024: R+40.3 2020: R+37.9 2016: R+37.6 2012: R+29.8 2008: R+25.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.92%
• Current HPI: 184.3198
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+314.9% since first listed

7 events — show timeline

• 2026-04-28 Price Changed $119,900 SCKMLS as Distributed by MLS Grid
• 2025-11-05 Price Changed $134,000 SCKMLS as Distributed by MLS Grid
• 2025-09-03 Price Changed $144,000 SCKMLS as Distributed by MLS Grid
• 2025-07-22 Listed $149,000 SCKMLS as Distributed by MLS Grid
• 2023-02-18 Pending — SCKMLS as Distributed by MLS Grid
• 2023-02-14 Listed $99,500 SCKMLS as Distributed by MLS Grid
• 1987-07-01 Sold (Public Records) $28,900 Public Records

Property tax history

+5.5%/yr

Latest (2025): $1,957 · +13.7% YoY. Source: county tax records.