235 W Wood Ave · Clearwater, KS 67026

$215,000

4 bd · 4.0 ba · 4,008 sqft · MultiFamily public records · 44 Days on market

Built 2005 4,356 sqft lot

---

Why this score? — see what drove the C+ 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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +3.7/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +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

Sitting on the edge of a small town, facing open farmland, this charming 1/2 of a twin home offers peaceful views. There are no special assessments and no HOA fees. It has LVP flooring on most of the main floor, with carpeting in the bedrooms and the living rooms.

Key facts

• No hoa fees
• Lvp flooring
• Open farmland views

Tags

• OPEN FARMLAND VIEWS
• LVP FLOORING
• NO SPECIAL ASSESSMENTS
• NO HOA FEES

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public sewer available
• Home design: Duplex
• Exterior features: One level; Full foundation with no egress window(s); Composition roof

Interior

• Kitchen: Dishwasher, Disposal, Range
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Forced air heating; Natural gas heating
• Interior features: Dishwasher, Disposal, Range; Unfinished basement
• Laundry & utility: Laundry on main floor

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $520 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $209k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#87 in KS, #4,879 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Clearwater (rural): math 33% / reading 39% proficiency, ranked #42 of 169 in KS (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clearwater Elementary West (math 52% / reading 37%, grade F, #228 of 684 statewide, top 38%, 327 students, 39% FRL); Clearwater Intermediate - Middle School (math 33% / reading 43%, grade F, #33 of 219 statewide, top 15%, 412 students, 37% FRL); Clearwater High (math 17% / reading 22%, grade F, #216 of 327 statewide, top 70%, 368 students, 29% FRL).
• Market conditions: 60 active listings in the ZIP; 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.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($209k) 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $208,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.16% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.37%
• DSCR: 1.46
• GRM: 7.2

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-1,670
• Equity at exit: $32,057

10-year hold

• IRR: 9.0%
• Equity multiple: 1.69×
• Total profit: $41,312
• Equity at exit: $18,589

Cash invested: $60,200 (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 67026

• Home prices YoY: -15.3%
• Active inventory: 60
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $2,503 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$240 /mo · $2,878/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $520

Break-even live

Break-even rent $1,844

Max offer price $215,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,504
Total (2 units)			$2,503

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $215,000 Active 44 DOM
2. 2026-06-17
   days on market $215,000 Active 43 DOM
3. 2026-06-16
   days on market $215,000 Active 42 DOM
4. 2026-06-15
   days on market $215,000 Active 41 DOM
5. 2026-06-14
   days on market $215,000 Active 39 DOM
6. 2026-06-10
   days on market $215,000 Active 36 DOM
7. 2026-06-09
   days on market $215,000 Active 35 DOM
8. 2026-06-08
   days on market $215,000 Active 34 DOM
9. 2026-06-07
   pricedays on market $215,000 Active 33 DOM
10. 2026-06-03
    days on market $220,000 Active 29 DOM
11. 2026-06-02
    days on market $220,000 Active 28 DOM
12. 2026-06-01
    days on market $220,000 Active 27 DOM
13. 2026-05-31
    days on market $220,000 Active 26 DOM
14. 2026-05-31
    days on market $220,000 Active 25 DOM
15. 2026-05-05
    listed $220,000 Active
16. 2026-05-01
    listed $220,000 Active 264-char remark

    Show marketing remark (264 chars)

    Sitting on the edge of a small town, facing open farmland, this charming 1/2 of a twin home offers peaceful views. There are no special assessments and no HOA fees. It has LVP flooring on most of the main floor, with carpeting in the bedrooms and the living rooms.

17. 2026-02-04
    soldstatus

ⓘ 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: $2,878 · $240/mo
• Projected year-2 tax: $3,032 · $253/mo
• Expected delta: +$154/yr (+$13/mo · 5.3%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 6 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,036
• − Mortgage interest: −$12,043
• − Property taxes: −$2,878
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,403
• − Management: −$2,403
• − Depreciation: −$6,255
• Taxable income: $2,979
• Est. tax owed @ 24.0%: −$715
• After-tax cash flow: $5,531/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: Clearwater
• NCES district ID: 2004920
• Math proficiency: 33% ▼ -3.00%
• Reading proficiency: 39% ▼ -1.00%
• Median HH income: $66,011
• Composite: 32.69/100
• National rank: #5646
• State rank: #42 of 169 in KS

Livability — Clearwater

• Score: 74/100
• State rank: #87
• US rank: #4879

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clearwater, KS
• City population: 5,068
• Population (ZIP): 5,068

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Iranian 2% Italian 1% Serbian 1%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 98% English-only · Spanish 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: ▼ -43.63%
• Current HPI: 241.2038
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

3 events — show timeline

• 2026-05-05 Listed $220,000 SCKMLS as Distributed by MLS Grid
• 2026-05-01 Listed $220,000 FSBO.com
• 2026-02-04 Sold (Public Records) — Public Records

Property tax history

-1.8%/yr

Latest (2025): $2,878 · -42.2% YoY. Source: county tax records.