109 Sherman · Newton, KS 67114

$165,000

3 bd · 2.0 ba · 1,512 sqft · SingleFamily public records · 11 Days on market

Built 1952 0.44 ac lot

---

Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +5.8/30.0
• Rent growth +5.0/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• 1% rule +1.8/10.0
• DSCR +0.2/10.0
• Appreciation +0.0/10.0

Key facts

• Huge basement
• Enormous shop
• Wet bar

Tags

• PRIVATE DRIVEWAY
• DETACHED GARAGE
• ENORMOUS SHOP
• HUGE BASEMENT
• WET BAR

Property features AI

Exterior

• Parking: 4-car garage; RV access/parking
• Utilities: Natural gas available; Public water; Sewer available
• Home design: Single-family onsite built; One level
• Construction: Composition roof; Full daylight foundation
• Exterior features: Patio; Outbuilding

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Finished basement; Main-floor laundry
• Laundry & utility: Laundry on the main floor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-332 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $106k (35.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (32.3% below list).
• Recommended offer: $106k (35.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 65/100 on livability (#282 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime F, amenities F, commute F.
• Newton (town): math 17% / reading 30% proficiency, ranked #141 of 169 in KS (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Slate Creek Elementary (math 27% / reading 27%, grade F, #507 of 684 statewide, top 78%, 267 students, 55% FRL); Chisholm Middle School (math 14% / reading 25%, grade F, #152 of 219 statewide, top 72%, 489 students, 58% FRL); Newton Sr High (math 11% / reading 26%, grade F, #232 of 327 statewide, top 71%, 956 students, 51% FRL).
• Market conditions: Rents rising fast (+18.1%/yr); 135 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 148 units permitted in Harvey County in 2024 (13 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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,425 (35.5% 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. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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 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: 0.68% ✗
• Cap rate: 3.88%
• Cash-on-cash: -8.61%
• DSCR: 0.62
• GRM: 12.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -25.7%
• Equity multiple: 0.09×
• Total profit: $-41,892
• Equity at exit: $24,602

10-year hold

• IRR: -10.7%
• Equity multiple: 0.21×
• Total profit: $-36,563
• Equity at exit: $14,266

Cash invested: $46,200 (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 67114

• Rents YoY: 18.1%
• Active inventory: 135
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $1,117 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$280 /mo · $3,356/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $-332

Break-even live

Break-even rent $1,536

Max offer price $106,425

Occupancy floor —

Sensitivity live

Price	-10% $-238	-5% $-285	+0% $-332	+5% $-378	+10% $-425
Rent	-10% $-420	-5% $-376	+0% $-332	+5% $-287	+10% $-243
Rate	-1.0pp $-248	-0.5pp $-290	base $-332	+0.5pp $-374	+1.0pp $-418

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 Allison St Newton, KS	3.0	1.0	1252	$1,100	$0.88	24d	1	0.93mi
504 E 10th St Newton, KS	3.0	1.0	1066	$1,100	$1.03	15d	1	1.03mi

Listing history 9 events

1. 2026-06-10
   status $165,000 Pending 11 DOM
2. 2026-06-09
   days on market $165,000 Active 11 DOM
3. 2026-06-08
   days on market $165,000 Active 10 DOM
4. 2026-06-07
   days on market $165,000 Active 9 DOM
5. 2026-06-03
   days on market $165,000 Active 5 DOM
6. 2026-06-02
   days on market $165,000 Active 4 DOM
7. 2026-06-01
   days on market $165,000 Active 3 DOM
8. 2026-05-31
   days on market $165,000 Active 2 DOM
9. 2026-05-30
   listed $165,000 Active 1 DOM

ⓘ 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: $3,356 · $280/mo
• Projected year-2 tax: $3,356 · $280/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,399
• − Mortgage interest: −$9,243
• − Property taxes: −$3,356
• − Insurance: −$825
• − Repairs & maintenance: −$1,072
• − Management: −$1,072
• − Depreciation: −$4,800
• Taxable loss: −$6,968
• Est. tax savings @ 24.0%: +$1,672
• After-tax cash flow: $-2,307/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: Newton
• NCES district ID: 2009960
• Math proficiency: 17% ▼ -5.00%
• Reading proficiency: 30% ▲ 1.00%
• Median HH income: $47,297
• Composite: 20.51/100
• National rank: #8569
• State rank: #141 of 169 in KS

Livability — Newton

• Score: 65/100
• State rank: #282
• US rank: #12628

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newton, KS
• County: Harvey County · 20,919 people
• City population: 20,919
• Metro: Wichita, KS
• Population (ZIP): 20,919
• Household income: $70,018
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 612.0

Population outlook (Harvey County) Hauer SSP2

• Today (2025): 35,226 people
• By 2030: 35,287 · +0.2%
• By 2040: 35,124 · -0.3%
• By 2050: 34,665 · -1.6%
• By 2075: 33,716 · -4.3%
• By 2100: 30,163 · -14.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 18% Two or more races 11% Native American 2% Black 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 7% German/W. Germanic 1%

Political lean MEDSL · Harvey

• 2024 margin: Strong R (+21.1) · D 38.6% · R 59.6% · Other 1.8%
• 2008→2024 swing: -3.8pp toward R · 2008: -17.2pp · 2024: -21.1pp
• All cycles: 2024: R+21.1 2020: R+19.7 2016: R+24.1 2012: R+23.1 2008: R+17.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -140.55%
• Current HPI: 187.6572
• Rent YoY: ▲ 18.05%
• Metro: Wichita, KS
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-29 Listed $165,000 SCKMLS as Distributed by MLS Grid

Property tax history

+6.0%/yr

Latest (2025): $3,356 · +15.5% YoY. Source: county tax records.