204 N Main St · Sharon, KS 67138

$55,000

3 bd · 1.0 ba · 1,512 sqft · SingleFamily public records · 37 Days on market

Built 1912 10,454 sqft 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
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Storage room
• Central heat
• Built-in display

Tags

• BUILT-IN DISPLAY
• STORAGE ROOM
• CENTRAL HEAT
• MAIN FLOOR LAUNDRY
• PARTIALLY FENCED BACK YARD
• SMALL GARDEN SHED

Property features AI

Finance

• HOA & community: Community playground

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Masonite exterior; Composition roof; Built with a concrete basement
• Exterior features: Covered patio/porch; Paved road access

Interior

• Kitchen: Gas range
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air conditioning (electric); Natural gas heating
• Interior features: Gas range; Carpet flooring; Concrete basement
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#480 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Barber County North (rural): math 28% / reading 33% proficiency, ranked #96 of 169 in KS (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Medicine Lodge Grade School (math 32% / reading 37%, grade F, #388 of 684 statewide, top 61%, 260 students, 56% FRL); Medicine Lodge Jr/Sr High School (math 22% / reading 27%, grade F, #105 of 327 statewide, top 49%, 218 students, 50% FRL) — zoned schools average 53% FRL vs 31% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 2 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.0% local appreciation)).
• Barber County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.14% ✓
• Cap rate: 18.26%
• Cash-on-cash: 42.74%
• DSCR: 2.90
• GRM: 3.9

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: 48.1%
• Equity multiple: 3.70×
• Total profit: $41,579
• Equity at exit: $24,730

10-year hold

• IRR: 47.9%
• Equity multiple: 7.43×
• Total profit: $99,090
• Equity at exit: $38,112

Cash invested: $15,400 (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 67138

• Active inventory: 2
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,175 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $549

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 48%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-17
   status $55,000 Pending 37 DOM
2. 2026-06-17
   days on market $55,000 Active 37 DOM
3. 2026-06-16
   days on market $55,000 Active 36 DOM
4. 2026-06-15
   days on market $55,000 Active 35 DOM
5. 2026-06-13
   days on market $55,000 Active 33 DOM
6. 2026-06-12
   days on market $55,000 Active 32 DOM
7. 2026-06-09
   days on market $55,000 Active 29 DOM
8. 2026-06-08
   days on market $55,000 Active 28 DOM
9. 2026-06-07
   days on market $55,000 Active 27 DOM
10. 2026-06-05
    days on market $55,000 Active 25 DOM
11. 2026-06-04
    days on market $55,000 Active 23 DOM
12. 2026-06-02
    days on market $55,000 Active 22 DOM
13. 2026-06-01
    days on market $55,000 Active 21 DOM
14. 2026-05-31
    days on market $55,000 Active 20 DOM
15. 2026-05-31
    days on market $55,000 Active 19 DOM
16. 2026-05-11
    listed $55,000 Active

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,106
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,128
• − Management: −$1,128
• − Depreciation: −$1,600
• Taxable income: $6,068
• Est. tax owed @ 24.0%: −$1,456
• After-tax cash flow: $5,126/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: Barber County North
• NCES district ID: 2009450
• Math proficiency: 28% ▬ 0.00%
• Reading proficiency: 33% ▬ 0.00%
• Median HH income: $45,807
• Composite: 26.2/100
• National rank: #7263
• State rank: #96 of 169 in KS

Livability — Sharon

• Score: 59/100
• State rank: #480
• US rank: #20352

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sharon, KS
• Population (ZIP): 438

Population outlook (Barber County) Hauer SSP2

• Today (2025): 4,783 people
• By 2030: 4,719 · -1.3%
• By 2040: 4,639 · -3.0%
• By 2050: 4,640 · -3.0%
• By 2075: 4,742 · -0.9%
• By 2100: 4,647 · -2.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 6% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 3% Lithuanian 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Barber

• 2024 margin: Solid R (+72.2) · D 13.3% · R 85.4% · Other 1.3%
• 2008→2024 swing: -22.0pp toward R · 2008: -50.2pp · 2024: -72.2pp
• All cycles: 2024: R+72.2 2020: R+73.8 2016: R+69.8 2012: R+56.1 2008: R+50.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-11 Listed $55,000 MKMLS as distributed by MLS GRID