32640 W 82nd St

De Soto, KS 66018

$100,000B

3 bd · 1.0 ba · 1,122 sqft · Built 1950 · SingleFamily · Pending · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,678/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$285
• HOA: −$0
• Vac / Maint / Mgmt: −$352
• Net cashflow: $516/mo
• Annual: $6,196/yr
• Cap rate: 12.49%
• Cash-on-cash: 22.13%
• DSCR: 1.98
• 1% rule: 1.68%
• Cash to close: $28,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 19 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#391 in KS) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime A-; Watch: employment C-, amenities F, commute F.
• De Soto (suburban): math 49% / reading 53% proficiency, ranked #3 of 169 in KS (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Starside Elem (math 47% / reading 47%, grade D-, #200 of 684 statewide, top 33%, 445 students, 47% FRL); De Soto High School (math 48% / reading 40%, grade F, #7 of 327 statewide, top 2%, 997 students, 20% FRL) — zoned schools average 34% FRL vs 10% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 2.9% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 59 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,969 units permitted in Johnson County in 2024 (1,066 in 5+ unit buildings).
• Johnson County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.5% vs local median 2.6% in De Soto — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.