203 W Bridge St · Mulvane, KS 67110

$160,000

4 bd · 1.0 ba · 1,338 sqft · SingleFamily public records · 183 Days on market

Built 1915 0.77 ac lot ↓ 26% since listing

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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 +22.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +4.9/10.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 0.77 acre lot
• Built 1915
• Listed 183 days

Property features AI

Exterior

• Utilities: Public water; Sewer available; Natural gas available
• Home design: Single-family onsite built; Two-story
• Construction: Composition roof
• Exterior features: Wood fencing; Covered porch; Cellar and crawl space foundation

Interior

• Kitchen: Microwave
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning (electric); Forced air heating (natural gas)
• Interior features: Microwave; Covered porch
• Laundry & utility: Main floor laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $260 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (1.0% below list).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#84 in KS, #4,701 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Mulvane (suburban): math 25% / reading 37% proficiency, ranked #75 of 169 in KS (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mulvane Elem W D Munson (422 students, 47% FRL); Mulvane Middle School (math 23% / reading 37%, grade F, #64 of 219 statewide, top 32%, 440 students, 41% FRL); Mulvane High (math 12% / reading 32%, grade F, #165 of 327 statewide, top 55%, 556 students, 38% FRL).
• Market conditions: 92 active listings in the ZIP; solid renter incomes; 14 units permitted in Sumner County in 2024 (0 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.
• Sumner County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 183 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $55k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• 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 $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 183 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 1915 — 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. 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.
6. 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.
7. 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: 0.99% ✗
• Cap rate: 8.24%
• Cash-on-cash: 6.95%
• DSCR: 1.31
• GRM: 8.4

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: -5.7%
• Equity multiple: 0.79×
• Total profit: $-9,445
• Equity at exit: $23,857

10-year hold

• IRR: 4.0%
• Equity multiple: 1.29×
• Total profit: $12,870
• Equity at exit: $13,834

Cash invested: $44,800 (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 67110

• Home prices YoY: -12.5%
• Active inventory: 92
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,583 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$86 /mo · $1,028/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $260

Break-even live

Break-even rent $1,255

Max offer price $160,000

Occupancy floor 79%

Sensitivity live

Price	-10% $350	-5% $305	+0% $260	+5% $214	+10% $169
Rent	-10% $134	-5% $197	+0% $260	+5% $322	+10% $385
Rate	-1.0pp $340	-0.5pp $300	base $260	+0.5pp $218	+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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-02
   days on market $160,000 Active 183 DOM
2. 2026-06-01
   days on market $160,000 Active 182 DOM
3. 2026-05-31
   days on market $160,000 Active 181 DOM
4. 2026-05-30
   days on market $160,000 Active 180 DOM
5. 2026-04-29
   status Active
6. 2026-03-11
   status Pending
7. 2026-01-30
   price $160,000
8. 2025-11-12
   price $185,000
9. 2025-10-13
   listed $215,000 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: $1,028 · $86/mo
• Projected year-2 tax: $2,256 · $188/mo
• Expected delta: +$1,228/yr (+$102/mo · 119.5%)

ⓘ 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 ≥107°F today · 18 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: $19,001
• − Mortgage interest: −$8,962
• − Property taxes: −$1,028
• − Insurance: −$800
• − Repairs & maintenance: −$1,520
• − Management: −$1,520
• − Depreciation: −$4,655
• Taxable income: $516
• Est. tax owed @ 24.0%: −$124
• After-tax cash flow: $2,990/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: Mulvane
• NCES district ID: 2009840
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $65,357
• Composite: 28.46/100
• National rank: #6745
• State rank: #75 of 169 in KS

Livability — Mulvane

• Score: 74/100
• State rank: #84
• US rank: #4701

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mulvane, KS
• County: Sedgwick County · 432,957 people
• City population: 8,722
• Metro: Wichita, KS
• Population (ZIP): 8,722
• Household income: $85,391
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 62.0

Population outlook (Sumner County) Hauer SSP2

• Today (2025): 22,787 people
• By 2030: 22,292 · -2.2%
• By 2040: 21,113 · -7.3%
• By 2050: 19,916 · -12.6%
• By 2075: 18,286 · -19.8%
• By 2100: 16,450 · -27.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 4% Serbian 3% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Sumner

• 2024 margin: Solid R (+50.1) · D 23.9% · R 74.0% · Other 2.0%
• 2008→2024 swing: -17.4pp toward R · 2008: -32.7pp · 2024: -50.1pp
• All cycles: 2024: R+50.1 2020: R+50.5 2016: R+50.6 2012: R+39.4 2008: R+32.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.37%
• Current HPI: 246.6463
• Rent YoY: —
• Metro: Wichita, KS
• State GDP YoY: —
• F500 in state: 0

Price history

-25.6% since first listed

5 events — show timeline

• 2026-04-29 Relisted — SCKMLS as Distributed by MLS Grid
• 2026-03-11 Pending — SCKMLS as Distributed by MLS Grid
• 2026-01-30 Price Changed $160,000 SCKMLS as Distributed by MLS Grid
• 2025-11-12 Price Changed $185,000 SCKMLS as Distributed by MLS Grid
• 2025-10-13 Listed $215,000 SCKMLS as Distributed by MLS Grid

Property tax history

+12.3%/yr

Latest (2025): $1,028 · +32.4% YoY. Source: county tax records.