2405 S Capri

Wichita, KS 67210

$91,000C+

1 bd · 2.0 ba · 1,100 sqft · Built 1982 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $982/mo
• Mortgage (P&I): −$477
• Tax + insurance: −$152
• HOA: −$25
• Vac / Maint / Mgmt: −$206
• Net cashflow: $122/mo
• Annual: $1,462/yr
• Cap rate: 7.90%
• Cash-on-cash: 5.74%
• DSCR: 1.26
• 1% rule: 1.08%
• Cash to close: $25,480

Investor read

• This is a 1-bed/2.0-bath single-family listed at $91k.
• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($982 rent vs $91k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $10k of equity ($629 loan paydown + $9k 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: Derby Hills Elem (math 32% / reading 37%, grade F, #388 of 684 statewide, top 61%, 384 students, 43% FRL); Derby Middle Sch (math 21% / reading 34%, grade F, #91 of 219 statewide, top 42%, 929 students, 46% 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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.
• 38 sale attempts since 21y 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.