1926 Joplin St · Galena, KS 66739

$20,000

3 bd · 2.0 ba · 1,272 sqft · SingleFamily public records · 98 Days on market

Built 1910 $16/sqft · 86% below area

---

Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a challenging DIY project to test your patience? Bring your vision and give this home a new chance at life or put it out of its misery and gain a nice corner lot to build on. The choice is yours

Key facts

• Built 1910
• Listed 97 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $597 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($959 rent vs $20k).
• Recommended offer: $18k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#239 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools F, crime F, amenities F.
• Galena (town): math 23% / reading 35% proficiency, ranked #118 of 169 in KS (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 55 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 17 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $600 of value loss. Plan a longer hold.
• Cherokee County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $15k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $18,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 4.79% ✓
• Cap rate: 42.13%
• Cash-on-cash: 128.00%
• DSCR: 6.70
• GRM: 1.7

CMA / ARV

• ARV (median comp): $140,117
• List price: $20,000
• Delta: -85.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1816 Joplin St	0.12mi	3/2.0	1,404 (+10%)	12mo	$185,000	$132	67
802 E 19th St	0.40mi	3/2.0	1,308 (+3%)	16mo	$168,000	$128	63
317 W 12th St	0.64mi	3/1.0	1,401 (+10%)	19mo	$96,500	$69	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.22×
• Total profit: $34,831
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 15.18×
• Total profit: $79,431
• Equity at exit: $1,729

Cash invested: $5,600 (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 66739

• Home prices YoY: -15.5%
• Active inventory: 55
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $959 medium
• Mortgage (P&I): −$105
• Tax from tax record: −$47 /mo · $564/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $597

Break-even live

Break-even rent $203

Max offer price $20,000

Occupancy floor 33%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1113 Chica Ln Unit 1 Galena, KS	2.0	1.0	1000	$965	$0.96	43d	1	0.85mi
1001 E 5th St Unit B Galena, KS	2.0	1.0	900	$950	$1.06	43d	1	1.11mi

Listing history 20 events

1. 2026-06-19
   days on market $20,000 Active 98 DOM
2. 2026-06-18
   days on market $20,000 Active 97 DOM
3. 2026-06-17
   days on market $20,000 Active 96 DOM
4. 2026-06-16
   days on market $20,000 Active 95 DOM
5. 2026-06-15
   days on market $20,000 Active 94 DOM
6. 2026-06-14
   days on market $20,000 Active 92 DOM
7. 2026-06-13
   days on market $20,000 Active 91 DOM
8. 2026-06-10
   days on market $20,000 Active 89 DOM
9. 2026-06-09
   days on market $20,000 Active 88 DOM
10. 2026-06-08
    days on market $20,000 Active 87 DOM
11. 2026-06-07
    days on market $20,000 Active 86 DOM
12. 2026-06-05
    days on market $20,000 Active 83 DOM
13. 2026-06-03
    days on market $20,000 Active 82 DOM
14. 2026-06-02
    days on market $20,000 Active 81 DOM
15. 2026-06-01
    days on market $20,000 Active 80 DOM
16. 2026-05-31
    days on market $20,000 Active 79 DOM
17. 2026-05-30
    days on market $20,000 Active 78 DOM
18. 2026-03-12
    listed $20,000 Active 206-char remark

    Show marketing remark (206 chars)

    Looking for a challenging DIY project to test your patience? Bring your vision and give this home a new chance at life or put it out of its misery and gain a nice corner lot to build on. The choice is yours

19. 1998-05-01
    soldstatus $15,000
20. 1997-06-01
    soldstatus $15,000

ⓘ 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: $564 · $47/mo
• Projected year-2 tax: $564 · $47/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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,507
• − Mortgage interest: −$1,120
• − Property taxes: −$564
• − Insurance: −$100
• − Repairs & maintenance: −$921
• − Management: −$921
• − Depreciation: −$582
• Taxable income: $7,300
• Est. tax owed @ 24.0%: −$1,752
• After-tax cash flow: $5,416/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: Galena
• NCES district ID: 2006360
• Math proficiency: 23% ▼ -1.00%
• Reading proficiency: 35% ▲ 6.00%
• Median HH income: $38,223
• Composite: 24.21/100
• National rank: #7727
• State rank: #118 of 169 in KS

Livability — Galena

• Score: 67/100
• State rank: #239
• US rank: #10647

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Galena, KS
• Population (ZIP): 5,240

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 18,848 people
• By 2030: 17,862 · -5.2%
• By 2040: 15,850 · -15.9%
• By 2050: 13,915 · -26.2%
• By 2075: 10,102 · -46.4%
• By 2100: 6,977 · -63.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 11% Native American 2% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Italian 2% Swedish 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 99% English-only · Chinese 1%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+52.9) · D 22.6% · R 75.5% · Other 1.9%
• 2008→2024 swing: -29.2pp toward R · 2008: -23.7pp · 2024: -52.9pp
• All cycles: 2024: R+52.9 2020: R+49.9 2016: R+48.4 2012: R+29.5 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.57%
• Current HPI: 172.0001
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+33.3% since first listed

3 events — show timeline

• 2026-03-12 Listed $20,000 OGAR
• 1998-05-01 Sold (Public Records) $15,000 Public Records
• 1997-06-01 Sold (Public Records) $15,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $564 · +7.9% YoY. Source: county tax records.