4508 S Flora St

Wichita, KS 67215

$289,000D-

5 bd · 3.0 ba · 1,306 sqft · Built 2019 · SingleFamily · Pending · 69 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,495/mo
• Mortgage (P&I): −$1,516
• Tax + insurance: −$446
• HOA: −$0
• Vac / Maint / Mgmt: −$524
• Net cashflow: $10/mo
• Annual: $114/yr
• Cap rate: 6.33%
• Cash-on-cash: 0.14%
• DSCR: 1.01
• 1% rule: 0.86%
• Cash to close: $80,920

Investor read

• This is a 5-bed/3.0-bath single-family listed at $289k.
• At list price, monthly cash flow is $10 ($114/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (13.7% below list).
• It's been on market 69 days — a 6% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $250k (13.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• 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.
• Haysville (suburban): math 18% / reading 29% proficiency, ranked #137 of 169 in KS (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Oatville Elem (math 42% / reading 57%, grade D, #165 of 684 statewide, top 28%, 401 students, 52% FRL); Haysville West Middle School (math 17% / reading 23%, grade F, #146 of 219 statewide, top 67%, 539 students, 55% FRL); Campus High Haysville (math 8% / reading 25%, grade F, #244 of 327 statewide, top 75%, 1,893 students, 48% FRL).
• Market conditions: 109 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $21k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 69 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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?
• 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.