Anything going on in Wichita?
Arvada, CO · Member since 2016 · 14 posts · 20 votes
Anything going on in Wichita?
Most Popular Reply
Arman AhmedPro Member
Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 961 votesQuote from @Justin Miller:
I’m an investor in Denver looking at Wichita for some opportunities with single-family homes and long-term rentals. I am traveling back to Denver over the weekend and will be driving through Wichita to check things out. Curious about perhaps distressed properties or foreclosures or REOs. Anything where I can increase the value through a rehab. And I really love mid-century modern architecture.
Wichita can be a solid market if you’re focused on value-add single-family and long-term rentals, especially if you find the right block and buy below replacement cost. Since you’re driving through anyway, I’d definitely walk a few neighborhoods and look for distressed properties in person, because that will tell you a lot more than Zillow ever will. If you’re open to other Midwest options too, Ohio is still worth a hard look for investors who want stronger cash flow and rehab opportunities without paying coastal prices.
3 Replies
- 2moKevin PolitePro MemberInvestor · Decatur Atlanta, GA · Member since 2011 · 612 posts · 232 votes
Good question, because I’m also thinking about Wichita as a possible investment market. I’m originally from Wichita and usually go back about once a year, although I don’t have enough current local knowledge to say where the best distressed properties, foreclosures or REOs are right now.
The biggest potential catalyst I see is the new Wichita Biomedical Campus downtown, which is a collaboration between Wichita State University, WSU Tech and the University of Kansas. The first students are expected in 2027, and once the first phase is complete, there are expected to be about 3,000 students and 200 faculty and staff downtown. I think that could have a meaningful effect on housing demand and redevelopment in and around downtown.
Delano is one of the first areas I would look at. It has a strong neighborhood identity, is close to downtown and has older houses where renovation could create value. However, it is very block by block, and I would want someone local who understands the neighborhood and current rents. Parts of Delano also have design standards, so that would be worth checking before making major exterior changes.
Since you like mid-century modern architecture, I would also drive through Benjamin Hills and Crown Heights. Benjamin Hills may be the most obvious place to look for mid-century houses. Riverside and Midtown may also be worth exploring for older homes close to downtown.
I would not limit the search to properties officially listed as foreclosures or REOs. There may be better opportunities among dated owner-occupied homes, inherited properties, tired rentals and houses with deferred maintenance.
Before buying, I would want a good local agent, contractor and property manager to help confirm rents, renovation costs and which blocks are stronger than others. Insurance is exceptionally high here. I helped my mom with getting lower insurance and was surprised at the cost.
I’m less certain about Andover, Maize and some of the other suburbs. They may be good long-term rental markets, especially because of schools and newer housing, but that seems like a different investment strategy from buying older homes near the city core and adding value through renovation.
I would be interested to hear from Wichita investors who are actively buying there now, especially regarding which neighborhoods are producing solid long-term rental returns and where they are finding value-add properties. @Justin Miller
- 2moArman AhmedPro MemberReal Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 961 votes
Quote from @Justin Miller:
I’m an investor in Denver looking at Wichita for some opportunities with single-family homes and long-term rentals. I am traveling back to Denver over the weekend and will be driving through Wichita to check things out. Curious about perhaps distressed properties or foreclosures or REOs. Anything where I can increase the value through a rehab. And I really love mid-century modern architecture.
Wichita can be a solid market if you’re focused on value-add single-family and long-term rentals, especially if you find the right block and buy below replacement cost. Since you’re driving through anyway, I’d definitely walk a few neighborhoods and look for distressed properties in person, because that will tell you a lot more than Zillow ever will. If you’re open to other Midwest options too, Ohio is still worth a hard look for investors who want stronger cash flow and rehab opportunities without paying coastal prices. - 2moVijay FriedmanBusiness MemberMiami, FL · Member since 2026 · 766 posts · 124 votes
Quote from @Justin Miller:
I’m an investor in Denver looking at Wichita for some opportunities with single-family homes and long-term rentals. I am traveling back to Denver over the weekend and will be driving through Wichita to check things out. Curious about perhaps distressed properties or foreclosures or REOs. Anything where I can increase the value through a rehab. And I really love mid-century modern architecture.@Justin Miller
Wichita has been getting more attention from investors, but I'd spend extra time talking with local property managers while you're there. They can often tell you which neighborhoods are seeing the strongest rental demand and which distressed properties are worth pursuing versus avoiding. That local insight can be just as valuable as finding a good deal.
Join the conversationCreate a free account to reply, vote on answers and follow this thread.