420 E Otis Ave · Salina, KS 67401-8729

$115,000

2 bd · 1.0 ba · 1,392 sqft · SingleFamily public records · 51 Days on market

Built 1956 0.36 ac lot

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Why this score? — see what drove the C+ 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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Appreciation +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Key facts

• Shaded front porch
• Main floor laundry
• Expansive backyard

Tags

• MAIN FLOOR LAUNDRY
• SHADED FRONT PORCH
• EXPANSIVE BACKYARD
• SET UP FOR A GARDEN

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public sewer available
• Home design: Single-family onsite-built home
• Construction: Composition roof; Slab foundation
• Exterior features: One level; Composition roof; Slab foundation

Interior

• Kitchen: Dishwasher
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air (electric); Forced air heating (natural gas)
• Interior features: Dishwasher; No basement
• Laundry & utility: Laundry on main floor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#127 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F, amenities F.
• Salina (town): math 21% / reading 30% proficiency, ranked #134 of 169 in KS (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Oakdale Elem (math 22% / reading 37%, grade F, #463 of 684 statewide, top 73%, 290 students, 82% FRL); Lakewood Middle School (math 11% / reading 23%, grade F, #167 of 219 statewide, top 78%, 688 students, 65% FRL); Salina High Central (math 8% / reading 24%, grade F, #247 of 327 statewide, top 75%, 944 students, 57% FRL) — zoned schools average 68% FRL vs 50% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1 active listings in the ZIP; 293 units permitted in Saline County in 2024 (186 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($795 loan paydown + $3k appreciation (3.0% local appreciation)).
• Saline County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $48k; list at $115k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.09%
• DSCR: 1.40
• GRM: 7.5

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: 16.0%
• Equity multiple: 1.91×
• Total profit: $29,388
• Equity at exit: $51,709

10-year hold

• IRR: 17.6%
• Equity multiple: 3.57×
• Total profit: $82,862
• Equity at exit: $79,690

Cash invested: $32,200 (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 67401-8729

• Active inventory: 1
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,273 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$111 /mo · $1,330/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $244

Break-even live

Break-even rent $964

Max offer price $115,000

Occupancy floor 76%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $115,000 Active 51 DOM
2. 2026-06-18
   days on market $115,000 Active 50 DOM
3. 2026-06-17
   days on market $115,000 Active 49 DOM
4. 2026-06-16
   days on market $115,000 Active 48 DOM
5. 2026-06-15
   days on market $115,000 Active 47 DOM
6. 2026-06-14
   days on market $115,000 Active 45 DOM
7. 2026-06-12
   days on market $115,000 Active 44 DOM
8. 2026-06-09
   days on market $115,000 Active 41 DOM
9. 2026-06-08
   days on market $115,000 Active 40 DOM
10. 2026-06-07
    days on market $115,000 Active 39 DOM
11. 2026-06-05
    days on market $115,000 Active 36 DOM
12. 2026-06-03
    days on market $115,000 Active 35 DOM
13. 2026-06-02
    days on market $115,000 Active 34 DOM
14. 2026-06-01
    days on market $115,000 Active 33 DOM
15. 2026-05-31
    days on market $115,000 Active 32 DOM
16. 2026-05-30
    days on market $115,000 Active 31 DOM
17. 2026-05-23
    price $115,000
18. 2026-05-09
    price $129,000
19. 2026-04-29
    listed $140,000 Active
20. 2003-09-01
    soldstatus $48,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast KS · Resets to sale price

• Current annual tax: $1,330 · $111/mo
• Projected year-2 tax: $1,622 · $135/mo
• Expected delta: +$291/yr (+$24/mo · 21.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,277
• − Mortgage interest: −$6,442
• − Property taxes: −$1,330
• − Insurance: −$575
• − Repairs & maintenance: −$1,222
• − Management: −$1,222
• − Depreciation: −$3,345
• Taxable income: $1,141
• Est. tax owed @ 24.0%: −$274
• After-tax cash flow: $2,653/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.

Schools (NCES district)

• District: Salina
• NCES district ID: 2011370
• Math proficiency: 21% ▼ -3.00%
• Reading proficiency: 30% ▼ -1.00%
• Median HH income: $44,726
• Composite: 21.94/100
• National rank: #8224
• State rank: #134 of 169 in KS

Livability — Salina

• Score: 71/100
• State rank: #127
• US rank: #6569

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment C- Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salina, KS

Population outlook (Saline County) Hauer SSP2

• Today (2025): 55,099 people
• By 2030: 54,446 · -1.2%
• By 2040: 52,572 · -4.6%
• By 2050: 50,362 · -8.6%
• By 2075: 45,522 · -17.4%
• By 2100: 40,059 · -27.3%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+139.6% since first listed

4 events — show timeline

• 2026-05-23 Price Changed $115,000 SCKMLS as Distributed by MLS Grid
• 2026-05-09 Price Changed $129,000 SCKMLS as Distributed by MLS Grid
• 2026-04-29 Listed $140,000 SCKMLS as Distributed by MLS Grid
• 2003-09-01 Sold (Public Records) $48,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,330 · -11.4% YoY. Source: county tax records.