446 Trails Head Ct · Goddard, KS 67052-4311

$179,900

6 bd · 4.0 ba · 2,436 sqft · MultiFamily public records · 145 Days on market

Built 2024 8,712 sqft lot $70/mo HOA · 5% of rent ↓ 10% since listing

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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 +9.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0

Multi-family units

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

Key facts

• Strong rental demand
• Open-concept layout
• 8,712 sq ft lot

Tags

• GODDARD SCHOOL DISTRICT
• OPEN-CONCEPT LAYOUT
• CONTEMPORARY FINISHES
• PRIVATE PRIMARY SUITE
• TURNKEY LOW-MAINTENANCE ASSET
• STRONG RENTAL DEMAND

Property features AI

Finance

• HOA & community: Community association with fees; Association fee $840; HOA initiation fee $250

Exterior

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

Interior

• Kitchen: Dishwasher; Disposal
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air (electric); Forced air heating (natural gas)
• Interior features: Dishwasher; Disposal; No basement
• Laundry & utility: Main floor laundry; 220V outlet/equipment for laundry

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $-142 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (14.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (26.9% below list).
• Recommended offer: $132k (26.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#91 in KS) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Goddard (rural): math 38% / reading 46% proficiency, ranked #18 of 169 in KS (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Clark Davidson Elem (math 47% / reading 52%, grade D, #165 of 684 statewide, top 28%, 424 students, 36% FRL); Goddard Middle School (math 26% / reading 32%, grade F, #85 of 219 statewide, top 40%, 493 students, 30% FRL); Goddard High (math 22% / reading 27%, grade F, #105 of 327 statewide, top 49%, 948 students, 31% FRL) — zoned schools average 32% FRL vs 17% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 2 active listings in the ZIP; 2,613 units permitted in Sedgwick County in 2024 (258 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $5k 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 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($158k) 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 $131,588 (26.9% 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 145 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.73% ✗
• Cap rate: 5.34%
• Cash-on-cash: -3.39%
• DSCR: 0.85
• GRM: 11.4

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: 4.4%
• Equity multiple: 1.25×
• Total profit: $12,592
• Equity at exit: $80,891

10-year hold

• IRR: 7.5%
• Equity multiple: 2.14×
• Total profit: $57,529
• Equity at exit: $124,662

Cash invested: $50,372 (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 67052-4311

• Active inventory: 2
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,316 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$93 /mo · $1,121/yr
• Insurance: −$75
• HOA: −$70
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $-142

Break-even live

Break-even rent $1,496

Max offer price $154,766

Occupancy floor —

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $70 · $840/yr

Listing history 13 events

1. 2026-06-10
   days on market $179,900 Active 145 DOM
2. 2026-06-09
   days on market $179,900 Active 144 DOM
3. 2026-06-08
   days on market $179,900 Active 143 DOM
4. 2026-06-07
   days on market $179,900 Active 142 DOM
5. 2026-06-03
   days on market $179,900 Active 138 DOM
6. 2026-06-02
   days on market $179,900 Active 137 DOM
7. 2026-06-01
   days on market $179,900 Active 136 DOM
8. 2026-05-31
   days on market $179,900 Active 135 DOM
9. 2026-05-30
   days on market $179,900 Active 134 DOM
10. 2026-04-07
    price $179,900
11. 2026-03-23
    price $182,900
12. 2026-02-05
    price $189,000
13. 2026-01-16
    listed $199,000 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: $1,121 · $93/mo
• Projected year-2 tax: $2,537 · $211/mo
• Expected delta: +$1,415/yr (+$118/mo · 126.2%)

ⓘ 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,791
• − Mortgage interest: −$10,077
• − Property taxes: −$1,121
• − Insurance: −$900
• − Repairs & maintenance: −$1,263
• − Management: −$1,263
• − HOA: −$840
• − Depreciation: −$5,233
• Taxable loss: −$4,907
• Est. tax savings @ 24.0%: +$1,178
• After-tax cash flow: $-530/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.

Schools (NCES district)

• District: Goddard
• NCES district ID: 2006540
• Math proficiency: 38% ▼ -4.00%
• Reading proficiency: 46% ▼ -2.00%
• Median HH income: $80,167
• Composite: 39.01/100
• National rank: #4067
• State rank: #18 of 169 in KS

Livability — Goddard

• Score: 73/100
• State rank: #91
• US rank: #5252

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

No demographic data for this ZIP.

Market trends

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

Price history

-9.6% since first listed

4 events — show timeline

• 2026-04-07 Price Changed $179,900 SCKMLS as Distributed by MLS Grid
• 2026-03-23 Price Changed $182,900 SCKMLS as Distributed by MLS Grid
• 2026-02-05 Price Changed $189,000 SCKMLS as Distributed by MLS Grid
• 2026-01-16 Listed $199,000 SCKMLS as Distributed by MLS Grid

Property tax history

+2057.1%/yr

Latest (2025): $1,121 · +53299.5% YoY. Source: county tax records.