809 W 9th St

Baxter Springs, KS 66713

$69,950C-

2 bd · 2.0 ba · 1,216 sqft · Built 1995 · Manufactured · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $671/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$51
• HOA: −$0
• Vac / Maint / Mgmt: −$141
• Net cashflow: $112/mo
• Annual: $1,346/yr
• Cap rate: 8.22%
• Cash-on-cash: 6.87%
• DSCR: 1.31
• 1% rule: 0.96%
• Cash to close: $19,586

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $70k.
• At list price, monthly cash flow is $112 ($1k/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 $67k (4.0% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $67k (4.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#63 in KS, #3,952 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, schools F, amenities F.
• Baxter Springs (town): math 31% / reading 39% proficiency, ranked #64 of 169 in KS (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 54 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 17 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).
• Cherokee County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• 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.
• 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.