13015 W Thorton St · Wichita, KS 67235

$269,900

4 bd · 2.0 ba · 1,662 sqft · MultiFamily · 55 Days on market

Built 2026 Poor condition 0.29 ac lot $125/mo HOA · 6% 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
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• 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

Listing remarks MLS

Explore these stunning new duplexes located just east of 135th Street off Central in the desirable “Crescent Creek” community. The “Lynn” stands out with each unit offering a spacious 4-bedroom, 2-bath layout with a 2-car garage and 1,662 sq. ft.—larger than most duplexes in the area. Inside, you’ll find a bright, open living space with LVT flooring throughout. The kitchen features white quartz countertops and comes fully equipped with stainless steel appliances, including a stove, refrigerator, dishwasher, and microwave .All four bedrooms are generously sized. Both bathrooms are oversized with dual sinks and quartz countertops. The second bathroom is a Jack-and-Jill connecting the second and third bedrooms. Step outside to a covered 15x10 patio with fenced yard, sprinkler system and irrigation. The exterior features brick with durable Smart Lap siding. Crescent Creek will soon offer a pool, pickleball court, and clubhouse. The HOA covers lawn care and trash service with dues of $125/month. Contracts require a minimum of 30 days to close for lot split completion. Taxes are not fully assessed. Lot and taxes will be split at closing. Specials estimated at $156/month per side. Estimated completion date in June! All information deemed reliable but not guaranteed. Buyers and buyers agents to verify all information.

Key facts

• Covered patio
• Open living space
• Lvt flooring

Tags

• CRESCENT CREEK COMMUNITY
• OPEN LIVING SPACE
• LVT FLOORING
• WHITE QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $270k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $270k).
• Recommended offer: $262k (3.0% 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.
• 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: Explorer Elementary School (math 47% / reading 62%, grade C, #107 of 684 statewide, top 18%, 472 students, 27% FRL); Dwight D. Eisenhower Middle School (math 45% / reading 40%, grade D-, #17 of 219 statewide, top 7%, 614 students, 16% FRL); Eisenhower High School (math 29% / reading 40%, grade F, #32 of 327 statewide, top 13%, 1,002 students, 23% FRL) — zoned schools at 22% FRL track the district average.
• Market conditions: 217 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 2,613 units permitted in Sedgwick County in 2024 (258 in 5+ unit buildings).
• This rent runs 43% of the median local income ($118k/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 $2k of loan paydown is wiped out by about $8k 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 + 3.0% rent growth), your $76k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $261,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.55% ✓
• Cap rate: 12.18%
• Cash-on-cash: 21.03%
• DSCR: 1.94
• GRM: 5.4

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: 13.5%
• Equity multiple: 1.54×
• Total profit: $40,771
• Equity at exit: $40,243

10-year hold

• IRR: 22.4%
• Equity multiple: 2.91×
• Total profit: $144,706
• Equity at exit: $23,336

Cash invested: $75,572 (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 67235

• Home prices YoY: -16.1%
• Active inventory: 217
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $4,196 medium
• Mortgage (P&I): −$1,415
• Tax est. 1.5%: −$337 /mo · $4,048/yr
• Insurance: −$112
• HOA: −$125
• Vacancy / Maint / Mgmt: −$881
• Net cashflow: $1,325

Break-even live

Break-even rent $2,519

Max offer price $269,900

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$4,196
Total (2 units)			$4,196

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
191 S 135th St W Wichita, KS	1.0–3.0	1.0–2.0	1133	$2,000	$1.76	14d	1	1.05mi
13625 W Nantucket St Wichita, KS	3.0	2.0	1100	$1,395	$1.27	21d	1	1.12mi

HOA detail

• Monthly dues: $125 · $1,500/yr
• Likely covers: trashlandscapingpool

Listing history 14 events

1. 2026-06-18
   days on market $269,900 Active 55 DOM
2. 2026-06-17
   days on market $269,900 Active 54 DOM
3. 2026-06-16
   days on market $269,900 Active 53 DOM
4. 2026-06-15
   days on market $269,900 Active 52 DOM
5. 2026-06-14
   days on market $269,900 Active 50 DOM
6. 2026-06-13
   statusdays on marketlisting id $269,900 Active 49 DOM
7. 2026-06-09
   statusdays on marketlisting id $269,900 Pending 18 DOM
8. 2026-06-08
   days on market $269,900 Active 45 DOM
9. 2026-06-07
   days on market $269,900 Active 44 DOM
10. 2026-06-03
    days on market $269,900 Active 40 DOM
11. 2026-06-03
    statusdays on marketlisting id $269,900 Active 39 DOM
12. 2026-05-12
    status Pending
13. 2026-04-24
    listed $269,900 Active

    Show marketing remark (1367 chars)

    Explore these stunning new duplexes located just east of 135th Street off Central in the desirable “Crescent Creek” community. The “Lynn” stands out with each unit offering a spacious 4-bedroom, 2-bath layout with a 2-car garage and 1,662 sq. ft.—larger than most duplexes in the area. Inside, you’ll find a bright, open living space with LVT flooring throughout. The kitchen features white quartz countertops and comes fully equipped with stainless steel appliances, including a stove, refrigerator, dishwasher, and microwave .All four bedrooms are generously sized. Both bathrooms are oversized with dual sinks and quartz countertops. The second bathroom is a Jack-and-Jill connecting the second and third bedrooms. Step outside to a covered 15x10 patio with fenced yard, sprinkler system and irrigation. The exterior features brick with durable Smart Lap siding. Crescent Creek will soon offer a pool, pickleball court, and clubhouse. The HOA covers lawn care and trash service with dues of $125/month. Contracts require a minimum of 30 days to close for lot split completion. Taxes are not fully assessed. Lot and taxes will be split at closing. Specials estimated at $156/month per side. Estimated completion date in June! All information deemed reliable but not guaranteed. Buyers and buyers agents to verify all information.

14. 2026-04-24
    listed $269,900 Active 1367-char remark

    Show marketing remark (1367 chars)

    Explore these stunning new duplexes located just east of 135th Street off Central in the desirable “Crescent Creek” community. The “Lynn” stands out with each unit offering a spacious 4-bedroom, 2-bath layout with a 2-car garage and 1,662 sq. ft.—larger than most duplexes in the area. Inside, you’ll find a bright, open living space with LVT flooring throughout. The kitchen features white quartz countertops and comes fully equipped with stainless steel appliances, including a stove, refrigerator, dishwasher, and microwave .All four bedrooms are generously sized. Both bathrooms are oversized with dual sinks and quartz countertops. The second bathroom is a Jack-and-Jill connecting the second and third bedrooms. Step outside to a covered 15x10 patio with fenced yard, sprinkler system and irrigation. The exterior features brick with durable Smart Lap siding. Crescent Creek will soon offer a pool, pickleball court, and clubhouse. The HOA covers lawn care and trash service with dues of $125/month. Contracts require a minimum of 30 days to close for lot split completion. Taxes are not fully assessed. Lot and taxes will be split at closing. Specials estimated at $156/month per side. Estimated completion date in June! All information deemed reliable but not guaranteed. Buyers and buyers agents to verify all information.

ⓘ 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: $50,352
• − Mortgage interest: −$15,119
• − Property taxes: −$4,048
• − Insurance: −$1,350
• − Repairs & maintenance: −$4,028
• − Management: −$4,028
• − HOA: −$1,500
• − Depreciation: −$7,852
• Taxable income: $12,427
• Est. tax owed @ 24.0%: −$2,983
• After-tax cash flow: $12,913/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 · 1 photo

Poor 20/100 Extensive rehab

This property is in the early stages of construction and requires extensive work to be move-in ready and attractive to buyers and renters.

Repairs flagged

• Major Exterior framing — Exposed framing indicates incomplete construction
• Major Interior framing — Exposed framing indicates incomplete construction
• Major Flooring — Exposed framing indicates incomplete construction
• Major Paint — Exposed framing indicates incomplete construction
• Major Roofing — Exposed framing indicates incomplete construction
• Major Siding — Exposed framing indicates incomplete construction
• Major Windows — Exposed framing indicates incomplete construction
• Major Foundation — Exposed framing indicates incomplete construction
• Major HVAC — Exposed framing indicates incomplete construction

Value-add opportunities

• Both Complete construction and finishing — Completing construction and finishing will make the property move-in ready and attractive to buyers and renters
• Both Landscaping and curb appeal — Landscaping will enhance the property's curb appeal and attract more potential buyers and renters
• Both HVAC and utilities — Installing a functional HVAC system and ensuring utilities are connected will make the property move-in ready and attractive to buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior framing · Exposed framing indicates incomplete construction	Major	$15,000–50,000
Interior framing · Exposed framing indicates incomplete construction	Major	$15,000–50,000
Flooring · Exposed framing indicates incomplete construction	Major	$15,000–50,000
Paint · Exposed framing indicates incomplete construction	Major	$15,000–50,000
Roofing · Exposed framing indicates incomplete construction	Major	$15,000–50,000
Siding · Exposed framing indicates incomplete construction	Major	$15,000–50,000
Windows · Exposed framing indicates incomplete construction	Major	$15,000–50,000
Foundation · Exposed framing indicates incomplete construction	Major	$15,000–50,000
HVAC · Exposed framing indicates incomplete construction	Major	$15,000–50,000
Total estimated repair cost · 9 items		$135,000–450,000

Value-add ROI direction

• Both Complete construction and finishing — Completing construction and finishing will make the property move-in ready and attractive to buyers and renters ↑
• Both Landscaping and curb appeal — Landscaping will enhance the property's curb appeal and attract more potential buyers and renters ↑
• Both HVAC and utilities — Installing a functional HVAC system and ensuring utilities are connected will make the property move-in ready and attractive to buyers and renters ↑

ⓘ 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: 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 — 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

• County: Sedgwick County · 432,957 people
• City population: 365,168
• Metro: Wichita, KS
• Population (ZIP): 14,958
• Household income: $118,050
• Rent vs Own: 6.4% rent · 93.6% own
• Severe rent burden: 49.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 9% Two or more races 8% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Lithuanian 2% Iranian 2%
• Foreign-born: 4% · Canada, Vietnam, China
• Languages at home: 95% English-only · Spanish 3% Vietnamese 1% Other Indo-European 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: ▼ -40.88%
• Current HPI: 212.876
• Rent YoY: —
• Metro: Wichita, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

3 events — show timeline

• 2026-05-12 Pending — SCKMLS as Distributed by MLS Grid
• 2026-04-24 Listed $269,900 SCKMLS as Distributed by MLS Grid
• 2026-04-24 Listed $269,900 SCKMLS as Distributed by MLS Grid