2918 S West Pkwy

Wichita, KS 67210

$270,000D

4 bd · 3.5 ba · 2,344 sqft · Built 1996 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,882/mo
• Mortgage (P&I): −$1,416
• Tax + insurance: −$401
• HOA: −$0
• Vac / Maint / Mgmt: −$395
• Net cashflow: $-330/mo
• Annual: $-3,955/yr
• Cap rate: 4.83%
• Cash-on-cash: -5.23%
• DSCR: 0.77
• 1% rule: 0.70%
• Cash to close: $75,600

Investor read

• This is a 4-bed/3.5-bath single-family listed at $270k.
• At list price, monthly cash flow is $-330 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (21.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (30.3% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $188k (30.3% below list) — sets the bar for 1% rule.
• In year one you build about $29k of equity ($2k loan paydown + $27k appreciation (10.0% local appreciation)).
• 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.
• Derby (suburban): math 29% / reading 36% proficiency, ranked #66 of 169 in KS (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wineteer Elem (math 42% / reading 52%, grade D-, #200 of 684 statewide, top 33%, 391 students, 53% FRL); Derby North Middle School (math 29% / reading 29%, grade F, #85 of 219 statewide, top 40%, 828 students, 48% FRL); Derby High School (math 17% / reading 21%, grade F, #230 of 327 statewide, top 71%, 2,172 students, 43% FRL).
• Market conditions: 44 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,613 units permitted in Sedgwick County in 2024 (258 in 5+ unit buildings).
• Sedgwick County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 16y ago 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.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.
• 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.
• 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.