4527 N Sandplum · Wichita, KS 67205

$189,000

3 bd · 2.0 ba · 1,250 sqft · MultiFamily · 19 Days on market

Built 2024 Good condition 4,791 sqft lot $75/mo HOA · 4% of rent

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• Zero entry
• Large serving bar
• Private bathroom

Tags

• ZERO ENTRY
• PRIVATE BATHROOM
• WALK IN CLOSET
• OPEN DINING LIVING AREA
• LARGE SERVING BAR
• WALK IN PANTRY

Property features AI

Finance

• Other: Located in Sedgwick County
• HOA & community: Association present; Association fee $900; One-time HOA initiation fee $300; Association covers exterior maintenance, general upkeep for common areas, and lawn service

Exterior

• Parking: 2-car garage
• Utilities: Natural gas available; Public water; Sewer available
• Home design: Duplex; Single-story
• Construction: Composition roof; No foundation details listed
• Exterior features: One level; Patio

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning; Electric and gas utilities for cooling
• Interior features: Dishwasher; Disposal; Microwave; Range; Refrigerator; 220 equipment available; No basement
• Laundry & utility: Main-floor laundry; 220-volt outlet for laundry/large appliances

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $189k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $189k).
• Recommended offer: $186k (1.5% below list) — sets the bar for market timing.

Location & tenants

• 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.
• 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: Rents rising fast (+4.4%/yr); 206 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,613 units permitted in Sedgwick County in 2024 (258 in 5+ unit buildings).
• This rent runs 37% of the median local income ($121k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Sedgwick County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $53k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($186k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,165 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.98% ✓
• Cap rate: 16.32%
• Cash-on-cash: 35.80%
• DSCR: 2.59
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.36% rent growth · sell at horizon

5-year hold

• IRR: 33.1%
• Equity multiple: 2.42×
• Total profit: $75,240
• Equity at exit: $28,181

10-year hold

• IRR: 40.8%
• Equity multiple: 5.11×
• Total profit: $217,354
• Equity at exit: $16,341

Cash invested: $52,920 (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

• Home prices YoY: -18.9%
• Rents YoY: 4.4%
• Active inventory: 206
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $3,747 medium
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• HOA: −$75
• Vacancy / Maint / Mgmt: −$787
• Net cashflow: $1,579

Break-even live

Break-even rent $1,748

Max offer price $189,000

Occupancy floor 53%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,748
Total (2 units)			$3,747

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4345 N Sandplum St Wichita, KS	3.0	2.0	1186	$1,500	$1.26	23d	1	0.11mi
4007 N Ridge Rd Wichita, KS	1.0–3.0	1.0–2.0	932	$1,842	$1.98	14d	41	0.68mi
7400 W 37th St N Wichita, KS	1.0–3.0	1.0–2.0	933	$1,793	$1.92	14d	11	0.79mi
7003 W 34th St N Wichita, KS	2.0–3.0	1.0–2.0	990	$1,435	$1.45	14d	7	1.29mi

HOA detail

• Monthly dues: $75 · $900/yr

Listing history 16 events

1. 2026-06-18
   days on market $189,000 Active 19 DOM
2. 2026-06-17
   days on market $189,000 Active 18 DOM
3. 2026-06-16
   days on market $189,000 Active 17 DOM
4. 2026-06-15
   price $189,000 Active 16 DOM
5. 2026-06-15
   days on market $194,500 Active 16 DOM
6. 2026-06-14
   days on market $194,500 Active 14 DOM
7. 2026-06-13
   days on market $194,500 Active 13 DOM
8. 2026-06-10
   days on market $194,500 Active 11 DOM
9. 2026-06-09
   days on market $194,500 Active 10 DOM
10. 2026-06-08
    days on market $194,500 Active 9 DOM
11. 2026-06-07
    days on market $194,500 Active 8 DOM
12. 2026-06-05
    days on market $194,500 Active 5 DOM
13. 2026-06-03
    days on market $194,500 Active 4 DOM
14. 2026-06-02
    days on market $194,500 Active 3 DOM
15. 2026-06-01
    days on market $194,500 Active 2 DOM
16. 2026-05-31
    listed $194,500 Active 1 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $44,964
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$945
• − Repairs & maintenance: −$3,597
• − Management: −$3,597
• − HOA: −$900
• − Depreciation: −$5,498
• Taxable income: $17,005
• Est. tax owed @ 24.0%: −$4,081
• After-tax cash flow: $14,867/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 · 6 photos

Good 80/100 None rehab

This multi-family home is in good condition with no major repairs needed. It offers a good investment opportunity with potential for value increases through minor updates and maintenance.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers/tenants.
• Resale Kitchen appliances replacement — Modernizing the kitchen appliances can increase the home's appeal to potential buyers.
• Resale Bathroom updates — Updating bathrooms can significantly increase the home's value and attract more buyers.
• Rental HVAC system maintenance — A well-maintained HVAC system ensures comfort and can attract more tenants.
• Both Landscaping and curb appeal improvements — A well-maintained exterior can attract more buyers and tenants, and improve the home's overall value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers/tenants. ↑
• Resale Kitchen appliances replacement — Modernizing the kitchen appliances can increase the home's appeal to potential buyers. ↑
• Resale Bathroom updates — Updating bathrooms can significantly increase the home's value and attract more buyers. ↑
• Rental HVAC system maintenance — A well-maintained HVAC system ensures comfort and can attract more tenants. ↑
• Both Landscaping and curb appeal improvements — A well-maintained exterior can attract more buyers and tenants, and improve the home's overall value. ↑

ⓘ 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 — Wichita

• Score: 72/100
• State rank: #100
• US rank: #5730

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wichita, KS
• County: Sedgwick County · 432,957 people
• City population: 365,168
• Metro: Wichita, KS
• Population (ZIP): 20,098
• Household income: $121,245
• Rent vs Own: 20.6% rent · 79.4% own
• Severe rent burden: 385.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4% Salvadoran 1%
• Common ancestry: Lithuanian 4% Italian 3% Iranian 2%
• Foreign-born: 4% · Canada, Vietnam, Dominican Republic
• Languages at home: 94% English-only · Spanish 3% Vietnamese 1% Chinese 0%

Political lean MEDSL · Sedgwick

• 2024 margin: R (+13.8) · D 42.3% · R 56.1% · Other 1.6%
• 2008→2024 swing: -1.1pp toward R · 2008: -12.7pp · 2024: -13.8pp
• All cycles: 2024: R+13.8 2020: R+12.6 2016: R+19.1 2012: R+19.7 2008: R+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.67%
• Current HPI: 209.3886
• Rent YoY: ▲ 4.36%
• Metro: Wichita, KS
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-29 Listed $194,500 SCKMLS as Distributed by MLS Grid