9278 Mandalay Mdws · Winfield, KS 67156

$99,000

3 bd · 2.0 ba · 1,518 sqft · SingleFamily · 3 Days on market

Built 1955 Fair condition 4.03 ac lot ↓ 38% since listing

---

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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Key facts

• 4 acres
• Convenient access
• 4.03 acre lot

Tags

• 4 ACRES
• MULTIPLE OUTBUILDINGS
• CONVENIENT ACCESS

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking: 3-car garage
• Security:
• Utilities: Natural gas available; Public utilities; Septic tank sewer
• Home design: Single-family onsite-built property
• Construction:
• Exterior features: One-level home; Crawl space foundation; Composition roof

Interior

• Kitchen:
• Bedrooms:
• Flooring:
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Wall/window air conditioning units
• Interior features: Main-floor laundry; No basement
• Laundry & utility: Laundry on main floor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $99k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).

Location & tenants

• Location reads 72/100 on livability (#111 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D+, amenities F.
• Winfield (rural): math 20% / reading 29% proficiency, ranked #138 of 169 in KS (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Winfield Middle School (math 16% / reading 29%, grade F, #130 of 219 statewide, top 61%, 499 students, 54% FRL); Winfield High (math 17% / reading 27%, grade F, #165 of 327 statewide, top 55%, 688 students, 49% FRL).
• Market conditions: 127 active listings in the ZIP; 41 units permitted in Cowley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cowley County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 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

• Watch-outs: built in 1955 — 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 $99,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1955 — 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 D-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 D 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. 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.
7. 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.
8. 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: 1.19% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.51%
• DSCR: 1.47
• GRM: 7.0

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: -0.5%
• Equity multiple: 0.98×
• Total profit: $-564
• Equity at exit: $14,761

10-year hold

• IRR: 9.1%
• Equity multiple: 1.70×
• Total profit: $19,489
• Equity at exit: $8,560

Cash invested: $27,720 (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 67156

• Home prices YoY: -18.9%
• Active inventory: 127
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,173 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $243

Break-even live

Break-even rent $866

Max offer price $99,000

Occupancy floor 74%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-08
   days on market $99,000 Active 3 DOM
2. 2026-06-07
   listed $99,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 18 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: $14,080
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$1,126
• − Management: −$1,126
• − Depreciation: −$2,880
• Taxable income: $1,421
• Est. tax owed @ 24.0%: −$341
• After-tax cash flow: $2,572/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.

Condition & rehab AI · 11 photos

Fair 45/100 Moderate rehab

The property requires significant landscaping and interior renovations to improve its curb appeal and functionality.

Repairs flagged

• Major Overgrown lawn — Needs trimming and landscaping
• Major Debris — Needs removal
• Moderate Cluttered kitchen — Needs cleaning and organization
• Moderate Outdated cabinets and appliances — Needs updating

Value-add opportunities

• Both Landscaping and curb appeal — Improves aesthetics and curb appeal
• Both Kitchen renovation — Updates the kitchen and increases functionality
• Both Painting interior walls — Fresh paint enhances the home's appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
Overgrown lawn · Needs trimming and landscaping	Major	$15,000–50,000
Debris · Needs removal	Major	$15,000–50,000
Cluttered kitchen · Needs cleaning and organization	Moderate	$3,000–15,000
Outdated cabinets and appliances · Needs updating	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$36,000–130,000

Value-add ROI direction

• Both Landscaping and curb appeal — Improves aesthetics and curb appeal ↑
• Both Kitchen renovation — Updates the kitchen and increases functionality ↑
• Both Painting interior walls — Fresh paint enhances the home's appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Winfield
• NCES district ID: 2013050
• Math proficiency: 20% ▼ -7.00%
• Reading proficiency: 29% ▼ -3.00%
• Median HH income: $43,463
• Composite: 20.99/100
• National rank: #8462
• State rank: #138 of 169 in KS

Livability — Winfield

• Score: 72/100
• State rank: #111
• US rank: #6223

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 14,183
• Population (ZIP): 14,183

Population outlook (Cowley County) Hauer SSP2

• Today (2025): 34,984 people
• By 2030: 34,410 · -1.6%
• By 2040: 33,265 · -4.9%
• By 2050: 32,421 · -7.3%
• By 2075: 31,488 · -10.0%
• By 2100: 30,276 · -13.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 7% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Vietnam, Canada
• Languages at home: 95% English-only · Spanish 1% Vietnamese 1% Other Asian/Pacific 1%

Political lean MEDSL · Cowley

• 2024 margin: Solid R (+40.3) · D 29.0% · R 69.3% · Other 1.7%
• 2008→2024 swing: -15.1pp toward R · 2008: -25.2pp · 2024: -40.3pp
• All cycles: 2024: R+40.3 2020: R+37.9 2016: R+37.6 2012: R+29.8 2008: R+25.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.92%
• Current HPI: 184.3198
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-38.1% since first listed

4 events — show timeline

• 2026-06-05 Listed $99,000 SCKMLS as Distributed by MLS Grid
• 2025-09-19 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2025-08-11 Price Changed $150,000 SCKMLS as Distributed by MLS Grid
• 2025-06-21 Listed $160,000 SCKMLS as Distributed by MLS Grid