12055 / 12057 W Shadow Lakes St · Maize, KS 67205-5261

$365,000

6 bd · 4.0 ba · 2,316 sqft · MultiFamily public records · 69 Days on market

Built 2022 Good condition 8,156 sqft lot $133/mo HOA · 8% of rent

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Why this score? — see what drove the D- 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 +7.8/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Condition / age +4.0/5.0
• Schools +3.8/10.0
• 1% rule +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• DSCR +1.9/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Key facts

• Modern finishes
• 8,156 sq ft lot
• 4 parking spots

Tags

• MAIZE SCHOOL DISTRICT
• INVESTMENT OPPORTUNITY
• 100 PERCENT OCCUPANCY
• MODERN FINISHES
• FULL KITCHEN APPLIANCE PACKAGE
• LOW MAINTENANCE LIVING

Property features AI

Finance

• HOA & community: Has association; Association fee $1,600; HOA initiation fee $400; Owner pays grounds care

Exterior

• Parking: 4 parking spaces; Attached parking; On-street parking; More than 2 spaces per unit
• Utilities: Natural gas available; Sewer available; Public water
• Home design: Duplex; Townhouse
• Construction: Composition roof
• Exterior features: Composition roof

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: Duplex with 2 total units
• Flooring: Other
• Heating & cooling: Electric cooling; Natural gas heating; Heat pump
• Interior features: Dishwasher; Disposal; Microwave; Range; Refrigerator; Other flooring

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2-bath units multifamily listed at $365k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-399 ($-5k/yr) — negative. Per door: $-199/mo.
• To cash-flow at today's rent, offer at most $295k (19.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $313k (14.1% below list).
• Recommended offer: $295k (19.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 71/100 on livability (#139 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, amenities F, commute F.
• Maize (rural): math 36% / reading 45% proficiency, ranked #20 of 169 in KS (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Maize Middle School (math 25% / reading 37%, grade F, #62 of 219 statewide, top 28%, 734 students, 29% FRL); Maize Sr High (math 25% / reading 26%, grade F, #98 of 327 statewide, top 30%, 1,289 students, 26% FRL).
• Zoned-school proficiency averages 28% at this address vs 40% district-wide (-12 pts) — the specific schools serving this property underperform the Maize average; the district grade overstates school quality for this exact location.
• Market conditions: 4 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 2,613 units permitted in Sedgwick County in 2024 (258 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($3k loan paydown + $11k appreciation (3.0% local appreciation)).
• Sedgwick County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($343k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $294,574 (19.3% 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. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 4.98%
• Cash-on-cash: -4.68%
• DSCR: 0.79
• GRM: 9.7

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: 3.2%
• Equity multiple: 1.18×
• Total profit: $18,842
• Equity at exit: $164,120

10-year hold

• IRR: 6.6%
• Equity multiple: 2.01×
• Total profit: $103,079
• Equity at exit: $252,928

Cash invested: $102,200 (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 67205-5261

• Active inventory: 4
• Price-to-rent: 19.4×

Monthly cashflow live

• Estimated rent: $3,134 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$675 /mo · $8,104/yr
• Insurance: −$152
• HOA: −$133
• Vacancy / Maint / Mgmt: −$658
• Net cashflow: $-399

Break-even live

Break-even rent $3,639

Max offer price $294,574

Occupancy floor —

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,134
Total (2 units)			$3,134

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3700 N 119th St W Wichita, KS	3.0–5.0	2.0–3.0	1632	$2,295	$1.41	14d	1	0.66mi
12048 W Swift Fox St Wichita, KS	5.0	3.0	2083	$2,150	$1.03	23d	1	0.67mi
11901 W Central Park Ct Wichita, KS	5.0	3.0	2560	$2,250	$0.88	14d	1	0.70mi

HOA detail

• Monthly dues: $133 · $1,596/yr

Listing history 17 events

1. 2026-06-18
   days on market $365,000 Active 69 DOM
2. 2026-06-17
   days on market $365,000 Active 68 DOM
3. 2026-06-16
   days on market $365,000 Active 67 DOM
4. 2026-06-15
   days on market $365,000 Active 66 DOM
5. 2026-06-14
   days on market $365,000 Active 64 DOM
6. 2026-06-13
   days on market $365,000 Active 63 DOM
7. 2026-06-10
   days on market $365,000 Active 61 DOM
8. 2026-06-09
   days on market $365,000 Active 60 DOM
9. 2026-06-08
   days on market $365,000 Active 59 DOM
10. 2026-06-07
    days on market $365,000 Active 58 DOM
11. 2026-06-05
    days on market $365,000 Active 55 DOM
12. 2026-06-03
    days on market $365,000 Active 54 DOM
13. 2026-06-02
    days on market $365,000 Active 53 DOM
14. 2026-06-01
    days on market $365,000 Active 52 DOM
15. 2026-05-31
    days on market $365,000 Active 51 DOM
16. 2026-05-30
    days on market $365,000 Active 50 DOM
17. 2026-04-10
    listed $365,000 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: $8,104 · $675/mo
• Projected year-2 tax: $8,104 · $675/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°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 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,608
• − Mortgage interest: −$20,446
• − Property taxes: −$8,104
• − Insurance: −$1,825
• − Repairs & maintenance: −$3,009
• − Management: −$3,009
• − HOA: −$1,596
• − Depreciation: −$10,618
• Taxable loss: −$10,998
• Est. tax savings @ 24.0%: +$2,640
• After-tax cash flow: $-2,144/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 · 12 photos

Good 80/100 Cosmetic rehab

This multi-family home is in good condition with minimal repairs needed. It offers a good starting point for investors looking to make cosmetic updates to increase its value.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace countertops — Modern countertops can increase both resale and rental value
• Both Install new flooring in bathrooms — New flooring can significantly boost both resale and rental value
• Both Upgrade lighting fixtures — Modern lighting can enhance the home's appeal and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace countertops — Modern countertops can increase both resale and rental value ↑
• Both Install new flooring in bathrooms — New flooring can significantly boost both resale and rental value ↑
• Both Upgrade lighting fixtures — Modern lighting can enhance the home's appeal and energy efficiency ↑

ⓘ 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: Maize
• NCES district ID: 2009140
• Math proficiency: 36% ▼ -6.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $87,686
• Composite: 38.48/100
• National rank: #4184
• State rank: #20 of 169 in KS

Livability — Maize

• Score: 71/100
• State rank: #139
• US rank: #6865

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maize, KS

Population outlook (Sedgwick County) Hauer SSP2

• Today (2025): 537,014 people
• By 2030: 546,984 · +1.9%
• By 2040: 559,141 · +4.1%
• By 2050: 562,027 · +4.7%
• By 2075: 557,255 · +3.8%
• By 2100: 513,383 · -4.4%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-04-10 Listed $365,000 SCKMLS as Distributed by MLS Grid

Property tax history

+669.6%/yr

Latest (2025): $8,104 · +30.4% YoY. Source: county tax records.