1502 E Luther StWichitaKS67216
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Wichita at 1502 E Luther St, Wichita, KS, 67216 uses $53,040 cash to close to unlock $2,708/yr annual cash flow and $226/mo monthly cash flow. Total monthly income runs $1,290/mo, and a $783/mo payment keeps the spread at $226/mo. Purchase price stands at $160,000, and rental yield measures 9.68% with $1,290/mo rent. Return on cash invested shows 25.01% in year one, and 5% annual appreciation builds toward $44,205 over five years. Five-year ROI reaches 130.84% and total cumulative return in cash records $69,398. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,290/mo property income covering a $783/mo payment rather than investor’s personal income.
Single Family
Built in 1954
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 67216, Wichita, KS area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,019 (100%) |
| Owner Occupied HU | 5,069 (50.6%) |
| Renter Occupied HU | 3,773 (37.7%) |
| Vacant Housing Units | 1,177 (11.7%) |
| Median Home Value | $109,766 |
| Average Home Value | $180,849 |
Housing Distribution
Address Breakdown
Residential
9,354
Single Family
9,235
Multi-Family
119
Businesses
603
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