416 21st St

Wilson, KS 67590

$130,000C-

3 bd · 2.0 ba · 1,624 sqft · Built 1985 · Other · Active · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,225/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$217
• HOA: −$0
• Vac / Maint / Mgmt: −$257
• Net cashflow: $69/mo
• Annual: $833/yr
• Cap rate: 6.93%
• Cash-on-cash: 2.29%
• DSCR: 1.10
• 1% rule: 0.94%
• Cash to close: $36,400

Investor read

• This is a 3-bed/2.0-bath other listed at $130k.
• At list price, monthly cash flow is $69 ($833/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 $123k (5.8% below list).
• It's been on market 62 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($899 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 71/100 on livability (#140 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F, amenities D-.
• Zoned schools: Central Plains Elementary School - Holyrood (math 57% / reading 62%, grade B-, #70 of 684 statewide, top 12%, 224 students, 46% FRL); Central Plains Jr. Sr. High School (math 22% / reading 32%, grade F, #85 of 327 statewide, top 29%, 140 students, 45% FRL).
• Market conditions: 1 active listings in the ZIP; 2 units permitted in Ellsworth County in 2024 (0 in 5+ unit buildings).
• Current owner paid $5k; list at $130k implies a 2500% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.