206 Garrison Ave · Westphalia, KS 66093

$39,900

3 bd · 1.5 ba · 1,918 sqft · SingleFamily public records · 15 Days on market

Built 1905 0.26 ac lot

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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
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Schools +2.8/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 0.26 acre lot
• Built 1905
• Listed 14 days

Property features AI

Finance

• Other: Lot dimensions approximately 75 x 150 (11,326 sq ft)
• HOA & community: No association fees

Exterior

• Parking: Off-street parking
• Utilities: Public water; Septic tank sewer
• Home design: Single family residence; Residential property; 2 stories; 101+ years old
• Construction: Frame construction with wood siding; Composition roof; Partial unfinished basement
• Exterior features: Corner lot; Fixer up condition

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 3 bedrooms (some on upper level)
• Flooring: Wood
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Wood flooring; Unfinished partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $568 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#580 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime F, amenities F.
• Garnett (rural): math 34% / reading 32% proficiency, ranked #85 of 169 in KS (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Westphalia (math 24% / reading 24%, grade F, #540 of 684 statewide, top 82%, 52 students, 46% FRL).
• Market conditions: 3 active listings in the ZIP; 23 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($276 loan paydown + $2k appreciation (5.2% local appreciation)).
• Anderson County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $21k; list at $40k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,301 (1.5% below list)

Questions for the listing agent

1. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.84% ✓
• Cap rate: 23.37%
• Cash-on-cash: 60.99%
• DSCR: 3.71
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 68.1%
• Equity multiple: 5.11×
• Total profit: $45,873
• Equity at exit: $23,100

10-year hold

• IRR: 65.8%
• Equity multiple: 10.60×
• Total profit: $107,298
• Equity at exit: $40,279

Cash invested: $11,172 (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 66093

• Home prices YoY: 1.5%
• Active inventory: 3
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,135 medium
• Mortgage (P&I): −$209
• Tax from tax record: −$103 /mo · $1,236/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $568

Break-even live

Break-even rent $416

Max offer price $39,900

Occupancy floor 45%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $39,900 Active 15 DOM
2. 2026-06-17
   days on market $39,900 Active 14 DOM
3. 2026-06-17
   price $39,900 Active 13 DOM
4. 2026-06-16
   days on market $49,900 Active 13 DOM
5. 2026-06-15
   days on market $49,900 Active 12 DOM
6. 2026-06-13
   days on market $49,900 Active 10 DOM
7. 2026-06-12
   days on market $49,900 Active 9 DOM
8. 2026-06-09
   days on market $49,900 Active 6 DOM
9. 2026-06-08
   days on market $49,900 Active 5 DOM
10. 2026-06-07
    days on market $49,900 Active 4 DOM
11. 2026-06-05
    days on market $49,900 Active 2 DOM
12. 2026-06-04
    listed $49,900 Active 1 DOM

ⓘ 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: $1,236 · $103/mo
• Projected year-2 tax: $1,236 · $103/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,621
• − Mortgage interest: −$2,235
• − Property taxes: −$1,236
• − Insurance: −$200
• − Repairs & maintenance: −$1,090
• − Management: −$1,090
• − Depreciation: −$1,161
• Taxable income: $6,610
• Est. tax owed @ 24.0%: −$1,586
• After-tax cash flow: $5,228/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: Garnett
• NCES district ID: 2006450
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 32% ▼ -6.00%
• Median HH income: $41,150
• Composite: 27.86/100
• National rank: #6876
• State rank: #85 of 169 in KS

Livability — Westphalia

• Score: 55/100
• State rank: #580
• US rank: #23661

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westphalia, KS
• Population (ZIP): 664

Population outlook (Anderson County) Hauer SSP2

• Today (2025): 7,231 people
• By 2030: 6,890 · -4.7%
• By 2040: 6,171 · -14.7%
• By 2050: 5,446 · -24.7%
• By 2075: 4,078 · -43.6%
• By 2100: 2,817 · -61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Italian 27% Lithuanian 4% Iranian 2%
• Foreign-born: 0%

Political lean MEDSL · Anderson

• 2024 margin: Solid R (+59.8) · D 19.3% · R 79.1% · Other 1.6%
• 2008→2024 swing: -27.0pp toward R · 2008: -32.7pp · 2024: -59.8pp
• All cycles: 2024: R+59.8 2020: R+56.7 2016: R+52.5 2012: R+40.0 2008: R+32.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.20%
• Current HPI: 355.5684
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+132.1% since first listed

3 events — show timeline

• 2026-06-03 Listed $49,900 Heartland MLS as Distributed by MLS Grid
• 1988-12-01 Sold (Public Records) $21,000 Public Records
• 1986-07-01 Sold (Public Records) $21,500 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,236 · +31.0% YoY. Source: county tax records.