26 N Elkhart Ave · Elkhart, KS 67950

$118,000

3 bd · 2.0 ba · 1,344 sqft · SingleFamily · 430 Days on market

7,000 sqft lot ↓ 7% since listing

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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 +14.9/30.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• Livability +3.6/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Remodeled
• New siding
• Spacious backyard

Tags

• REMODELED
• NEW FLOORING
• NEW APPLIANCES
• NEW SIDING
• WOOD PRIVACY FENCE
• SPACIOUS BACKYARD

Property features AI

Exterior

• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; Residential property
• Construction: Frame construction; Vinyl siding
• Exterior features: Wood fencing; Composition roof; Lot approximately 0.16 acres

Interior

• Kitchen: Dishwasher; Cooktop; Microwave; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating
• Interior features: Dishwasher; Cooktop; Microwave; Refrigerator; Gas water heater; Partial basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $35 ($418/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 $108k (8.8% below list).
• Recommended offer: $104k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#116 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: employment D+, schools D, amenities F.
• Elkhart (rural): math 25% / reading 42% proficiency, ranked #80 of 169 in KS (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP.

Forward outlook

• In year one you build about $6k of equity ($816 loan paydown + $5k appreciation (4.2% local appreciation)).
• Morton County population projected at -40% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 430 days — a 12% lower offer ($104k) is reasonable based on typical stale-listing flexibility.

Recommended offer $103,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 430 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 0.91% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.26%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.16% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.72×
• Total profit: $23,841
• Equity at exit: $60,924

10-year hold

• IRR: 13.3%
• Equity multiple: 3.21×
• Total profit: $73,122
• Equity at exit: $100,531

Cash invested: $33,040 (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 67950

• Home prices YoY: 3.4%
• Active inventory: 12
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,076 medium
• Mortgage (P&I): −$619
• Tax est. 1.5%: −$148 /mo · $1,770/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $35

Break-even live

Break-even rent $1,032

Max offer price $118,000

Occupancy floor 92%

Sensitivity live

Price	-10% $116	-5% $76	+0% $35	+5% $-6	+10% $-47
Rent	-10% $-50	-5% $-8	+0% $35	+5% $77	+10% $120
Rate	-1.0pp $94	-0.5pp $65	base $35	+0.5pp $4	+1.0pp $-27

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $118,000 Active 430 DOM
2. 2026-06-21
   days on market $118,000 Active 429 DOM
3. 2026-06-18
   days on market $118,000 Active 427 DOM
4. 2026-06-17
   days on market $118,000 Active 426 DOM
5. 2026-06-16
   days on market $118,000 Active 425 DOM
6. 2026-06-15
   days on market $118,000 Active 424 DOM
7. 2026-06-13
   days on market $118,000 Active 422 DOM
8. 2026-06-12
   days on market $118,000 Active 421 DOM
9. 2026-06-09
   days on market $118,000 Active 418 DOM
10. 2026-06-08
    days on market $118,000 Active 417 DOM
11. 2026-06-07
    days on market $118,000 Active 416 DOM
12. 2026-06-05
    days on market $118,000 Active 414 DOM
13. 2026-06-04
    days on market $118,000 Active 412 DOM
14. 2026-06-02
    days on market $118,000 Active 411 DOM
15. 2026-06-01
    days on market $118,000 Active 410 DOM
16. 2026-05-31
    days on market $118,000 Active 409 DOM
17. 2026-05-31
    days on market $118,000 Active 408 DOM
18. 2025-06-25
    price $118,000
19. 2025-04-15
    listed $126,500 Active

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

Taxation est. · year 1

• Rental income: $12,915
• − Mortgage interest: −$6,610
• − Property taxes: −$1,770
• − Insurance: −$590
• − Repairs & maintenance: −$1,033
• − Management: −$1,033
• − Depreciation: −$3,433
• Taxable loss: −$1,554
• Est. tax savings @ 24.0%: +$373
• After-tax cash flow: $790/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: Elkhart
• NCES district ID: 2005790
• Math proficiency: 25% ▼ -2.00%
• Reading proficiency: 42% ▲ 4.00%
• Median HH income: $42,271
• Composite: 28.3/100
• National rank: #6788
• State rank: #80 of 169 in KS

Livability — Elkhart

• Score: 72/100
• State rank: #116
• US rank: #6297

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elkhart, KS
• Population (ZIP): 1,786

Population outlook (Morton County) Hauer SSP2

• Today (2025): 2,576 people
• By 2030: 2,363 · -8.3%
• By 2040: 1,940 · -24.7%
• By 2050: 1,559 · -39.5%
• By 2075: 881 · -65.8%
• By 2100: 558 · -78.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 21% Two or more races 15% Asian 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Slovak 1% Italian 1% English 1%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 11% Tagalog/Filipino 2% Other Indo-European 1%

Political lean MEDSL · Morton

• 2024 margin: Solid R (+73.4) · D 12.4% · R 85.8% · Other 1.9%
• 2008→2024 swing: -7.5pp toward R · 2008: -65.9pp · 2024: -73.4pp
• All cycles: 2024: R+73.4 2020: R+73.7 2016: R+71.1 2012: R+69.8 2008: R+65.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.16%
• Current HPI: 128.3365
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-6.7% since first listed

2 events — show timeline

• 2025-06-25 Price Changed $118,000 SWKSBOR
• 2025-04-15 Listed $126,500 SWKSBOR