511 N 2nd St · Lindsborg, KS 67456

$139,900

4 bd · 2.0 ba · 1,577 sqft · SingleFamily public records · 3 Days on market

Built 1900 0.34 ac lot

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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 +14.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• 1% rule +4.0/10.0
• Livability +3.8/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Large lot
• Sleeping porch
• 0.34 acre lot

Tags

• INVESTMENT OPPORTUNITY
• LARGE LOT
• SLEEPING PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $31 ($378/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 $126k (10.1% below list).
• Recommended offer: $126k (10.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#55 in KS, #3,742 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: amenities F, commute F.
• Smoky Valley (town): math 29% / reading 40% proficiency, ranked #58 of 169 in KS (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Smoky Valley Middle School (math 23% / reading 37%, grade F, #64 of 219 statewide, top 32%, 246 students, 37% FRL); Smoky Valley High (math 12% / reading 32%, grade F, #165 of 327 statewide, top 55%, 253 students, 33% FRL) — zoned schools average 35% FRL vs 19% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 44 active listings in the ZIP; 102 units permitted in McPherson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• McPherson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $72k; list at $140k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,825 (10.1% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.90% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.96%
• DSCR: 1.04
• GRM: 9.3

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: -14.7%
• Equity multiple: 0.47×
• Total profit: $-20,649
• Equity at exit: $20,860

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-15,332
• Equity at exit: $12,096

Cash invested: $39,172 (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 67456

• Home prices YoY: -33.7%
• Active inventory: 44
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,258 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$171 /mo · $2,047/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $31

Break-even live

Break-even rent $1,218

Max offer price $139,900

Occupancy floor 92%

Sensitivity live

Price	-10% $111	-5% $71	+0% $31	+5% $-8	+10% $-48
Rent	-10% $-68	-5% $-18	+0% $31	+5% $81	+10% $131
Rate	-1.0pp $102	-0.5pp $67	base $31	+0.5pp $-5	+1.0pp $-42

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-24
   status Pending
2. 2026-04-21
   listed $139,900 Active
3. 2025-11-03
   price $129,900
4. 2000-06-01
   soldstatus $72,250
5. 1990-05-01
   soldstatus

ⓘ 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: $2,047 · $171/mo
• Projected year-2 tax: $2,047 · $171/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 16 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: $15,099
• − Mortgage interest: −$7,837
• − Property taxes: −$2,047
• − Insurance: −$700
• − Repairs & maintenance: −$1,208
• − Management: −$1,208
• − Depreciation: −$4,070
• Taxable loss: −$1,970
• Est. tax savings @ 24.0%: +$473
• After-tax cash flow: $851/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: Smoky Valley
• NCES district ID: 2000002
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 40% ▼ -2.00%
• Median HH income: $53,928
• Composite: 30.27/100
• National rank: #6284
• State rank: #58 of 169 in KS

Livability — Lindsborg

• Score: 76/100
• State rank: #55
• US rank: #3742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lindsborg, KS
• Population (ZIP): 5,170

Population outlook (McPherson County) Hauer SSP2

• Today (2025): 28,958 people
• By 2030: 28,735 · -0.8%
• By 2040: 28,020 · -3.2%
• By 2050: 27,276 · -5.8%
• By 2075: 26,211 · -9.5%
• By 2100: 23,976 · -17.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 5% Slovak 5% Portuguese 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · McPherson

• 2024 margin: Solid R (+41.1) · D 28.5% · R 69.6% · Other 1.9%
• 2008→2024 swing: -5.8pp toward R · 2008: -35.3pp · 2024: -41.1pp
• All cycles: 2024: R+41.1 2020: R+40.3 2016: R+42.0 2012: R+41.6 2008: R+35.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.78%
• Current HPI: 166.7091
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+93.6% since first listed

5 events — show timeline

• 2026-04-24 Pending — MKMLS as distributed by MLS GRID
• 2026-04-21 Listed $139,900 MKMLS as distributed by MLS GRID
• 2025-11-03 Price Changed $129,900 MKMLS as distributed by MLS GRID
• 2000-06-01 Sold (Public Records) $72,250 Public Records
• 1990-05-01 Sold (Public Records) — Public Records

Property tax history

+3.1%/yr

Latest (2025): $2,047 · +3.0% YoY. Source: county tax records.