12451 W Fennec St · Maize, KS 67223

$179,900

3 bd · 2.0 ba · 1,182 sqft · SingleFamily · 492 Days on market

Built 2024 4,356 sqft lot $85/mo HOA · 5% of rent ↓ 5% since listing

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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 +13.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +4.3/10.0
• DSCR +3.9/10.0
• Schools +3.8/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Dog park
• Community pool
• Holly floor plan

Tags

• HOLLY FLOOR PLAN
• FOX CREEK SUBDIVISION
• FROST WHITE QUARTZ COUNTERTOPS
• COMMUNITY POOL
• CHILDREN'S PLAYGROUND
• DOG PARK

Property features AI

Finance

• HOA & community: Has association; Association fee $1,023 (includes lawn service and general upkeep for common areas); 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 basement/Foundation not specified
• Exterior features: One-level property; Patio; Wood and wrought iron fencing

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air (electric); Forced air heating (natural gas)
• Interior features: Dishwasher; Disposal; Microwave; Range
• Laundry & utility: Laundry on main floor in a separate room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-6 ($-74/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (7.0% below list).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.

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 South Middle School (math 28% / reading 40%, grade F, #55 of 219 statewide, top 25%, 549 students, 26% FRL); Maize South High School (math 43% / reading 41%, grade F, #12 of 327 statewide, top 5%, 1,095 students, 21% FRL).
• Market conditions: 40 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Sedgwick County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 492 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $180k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $158,312 (12.0% 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 492 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
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 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: 0.93% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.15%
• DSCR: 0.99
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.2%
• Equity multiple: 2.94×
• Total profit: $97,665
• Equity at exit: $162,068

10-year hold

• IRR: 21.4%
• Equity multiple: 6.72×
• Total profit: $288,070
• Equity at exit: $349,506

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 67223

• Home prices YoY: 7.7%
• Active inventory: 40
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,674 high
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$85
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $-6

Break-even live

Break-even rent $1,681

Max offer price $179,013

Occupancy floor 95%

Sensitivity live

Price	-10% $118	-5% $56	+0% $-6	+5% $-68	+10% $-130
Rent	-10% $-138	-5% $-72	+0% $-6	+5% $60	+10% $126
Rate	-1.0pp $84	-0.5pp $40	base $-6	+0.5pp $-53	+1.0pp $-100

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: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12452 W Fennec St Wichita, KS	4.0	2.0	1376	$1,695	$1.23	21d	1	0.02mi
12438 W Blanford St Wichita, KS	4.0	2.0	1376	$1,745	$1.27	14d	1	0.07mi
12198 Northstar St Wichita, KS	3.0	2.0	1470	$1,795	$1.22	14d	1	0.25mi
12062 W Fennec St Wichita, KS	3.0	2.0	1182	$1,500	$1.27	24d	1	0.30mi
3700 N 119th St W Wichita, KS	3.0–5.0	2.0–3.0	1632	$1,500	$0.92	14d	1	0.41mi
12123 W Cora St Unit 12123 Cora Wichita, KS	3.0	2.0	1255	$1,495	$1.19	24d	1	0.55mi

HOA detail

• Monthly dues: $85 · $1,020/yr

Listing history 11 events

1. 2026-05-31
   status $179,900 Pending 492 DOM
2. 2026-05-30
   days on market $179,900 Active 492 DOM
3. 2026-05-20
   price $179,900
4. 2025-11-19
   status Active
5. 2025-11-17
   status Pending
6. 2025-03-04
   historical
7. 2025-01-23
   listed $360,000 Active
8. 2025-01-21
   listed $184,900 Active
9. 2025-01-21
   historical
10. 2024-10-24
    price $184,900
11. 2024-09-11
    listed $189,900 Active

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

Taxation est. · year 1

• Rental income: $20,083
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$1,607
• − Management: −$1,607
• − HOA: −$1,020
• − Depreciation: −$5,233
• Taxable loss: −$3,059
• Est. tax savings @ 24.0%: +$734
• After-tax cash flow: $661/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: 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
• City population: 6,941
• Population (ZIP): 773

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 (93%)
• Race & ethnicity: White 93% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Slovak 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 1%

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: ▲ 11.53%
• Current HPI: 160.75
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-5.3% since first listed

9 events — show timeline

• 2026-05-20 Price Changed $179,900 SCKMLS as Distributed by MLS Grid
• 2025-11-19 Relisted — SCKMLS as Distributed by MLS Grid
• 2025-11-17 Pending — SCKMLS as Distributed by MLS Grid
• 2025-03-04 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2025-01-23 Listed $360,000 SCKMLS as Distributed by MLS Grid
• 2025-01-21 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2025-01-21 Listed $184,900 SCKMLS as Distributed by MLS Grid
• 2024-10-24 Price Changed $184,900 SCKMLS as Distributed by MLS Grid
• 2024-09-11 Listed $189,900 SCKMLS as Distributed by MLS Grid