10322 W Merton Ct · Wichita, KS 67209

$180,000

2 bd · 2.0 ba · 1,800 sqft · SingleFamily public records · 314 Days on market

Built 1981 7,405 sqft lot

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Why this score? — see what drove the D- 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 +10.8/30.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• DSCR +3.1/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Fenced yard
• Laundry room
• Family room

Tags

• FENCED YARD
• WOOD BURNING FIREPLACE
• LAUNDRY ROOM
• FAMILY ROOM

Property features AI

Exterior

• Parking: 2-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Sewer available; Natural gas available
• Home design: Duplex; One level
• Construction: Composition roof; Full daylight foundation
• Exterior features: Patio; Wood fencing; Smoke detectors

Interior

• Kitchen: Dishwasher; Refrigerator; Range
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced-air heating (natural gas); Central electric air conditioning
• Interior features: Finished basement; Wood-burning fireplace with glass doors in the family room
• Laundry & utility: Laundry in basement in a separate room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-82 ($-984/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (8.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (21.1% below list).
• Recommended offer: $142k (21.1% below list) — sets the bar for 1% rule.

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: 32 active listings in the ZIP; solid renter incomes; 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 $5k 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 314 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 13746% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• 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.

Recommended offer $142,053 (21.1% below list)

Questions for the listing agent

1. 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?
2. It's been on market 314 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
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. 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?
8. 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.
9. 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.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.79% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.95%
• DSCR: 0.91
• GRM: 10.6

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: -19.5%
• Equity multiple: 0.32×
• Total profit: $-34,394
• Equity at exit: $26,839

10-year hold

• IRR: -12.3%
• Equity multiple: 0.27×
• Total profit: $-36,688
• Equity at exit: $15,563

Cash invested: $50,400 (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 67209

• Home prices YoY: -20.9%
• Active inventory: 32
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,421 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$185 /mo · $2,224/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $-82

Break-even live

Break-even rent $1,524

Max offer price $165,512

Occupancy floor —

Sensitivity live

Price	-10% $20	-5% $-31	+0% $-82	+5% $-133	+10% $-184
Rent	-10% $-194	-5% $-138	+0% $-82	+5% $-26	+10% $30
Rate	-1.0pp $9	-0.5pp $-36	base $-82	+0.5pp $-129	+1.0pp $-176

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $180,000 Active 314 DOM
2. 2026-06-18
   days on market $180,000 Active 311 DOM
3. 2026-06-17
   days on market $180,000 Active 310 DOM
4. 2026-06-16
   days on market $180,000 Active 309 DOM
5. 2026-06-15
   days on market $180,000 Active 308 DOM
6. 2026-06-14
   days on market $180,000 Active 306 DOM
7. 2026-06-13
   days on market $180,000 Active 305 DOM
8. 2026-06-10
   days on market $180,000 Active 303 DOM
9. 2026-06-09
   days on market $180,000 Active 302 DOM
10. 2026-06-08
    days on market $180,000 Active 301 DOM
11. 2026-06-07
    days on market $180,000 Active 300 DOM
12. 2026-06-03
    days on market $180,000 Active 296 DOM
13. 2026-06-02
    days on market $180,000 Active 295 DOM
14. 2026-06-01
    days on market $180,000 Active 294 DOM
15. 2026-05-31
    days on market $180,000 Active 293 DOM
16. 2026-05-30
    days on market $180,000 Active 292 DOM
17. 2026-05-17
    historical $1,400
18. 2026-04-29
    price $1,400
19. 2026-01-08
    price $1,500
20. 2026-01-06
    listed $1,300
21. 2025-10-02
    price $180,000
22. 2025-08-11
    listed $195,000 Active

ⓘ 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: $2,224 · $185/mo
• Projected year-2 tax: $2,538 · $212/mo
• Expected delta: +$314/yr (+$26/mo · 14.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,046
• − Mortgage interest: −$10,083
• − Property taxes: −$2,224
• − Insurance: −$900
• − Repairs & maintenance: −$1,364
• − Management: −$1,364
• − Depreciation: −$5,236
• Taxable loss: −$4,124
• Est. tax savings @ 24.0%: +$990
• After-tax cash flow: $6/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: 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

• Census place: Wichita, KS
• County: Sedgwick County · 432,957 people
• City population: 365,168
• Metro: Wichita, KS
• Population (ZIP): 13,289
• Household income: $77,940
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 290.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 12% Two or more races 9% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 6% Vietnamese 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: ▼ -64.55%
• Current HPI: 243.8556
• Rent YoY: —
• Metro: Wichita, KS
• State GDP YoY: —
• F500 in state: 0

Price history

-99.3% since first listed

6 events — show timeline

• 2026-05-17 Rental Removed $1,400 APPFOLIO
• 2026-04-29 Price Changed $1,400 APPFOLIO
• 2026-01-08 Price Changed $1,500 APPFOLIO
• 2026-01-06 Listed for Rent $1,300 APPFOLIO
• 2025-10-02 Price Changed $180,000 SCKMLS as Distributed by MLS Grid
• 2025-08-11 Listed $195,000 SCKMLS as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2025): $2,224 · +6.2% YoY. Source: county tax records.