6 S Holbrook St

Fort Scott, KS 66701

$95,000C+

3 bd · 1.5 ba · 2,324 sqft · Built 1900 · SingleFamily · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,188/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$250
• Net cashflow: $308/mo
• Annual: $3,698/yr
• Cap rate: 10.19%
• Cash-on-cash: 13.90%
• DSCR: 1.62
• 1% rule: 1.25%
• Cash to close: $26,600

Investor read

• This is a 3-bed/1.5-bath single-family listed at $95k.
• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#259 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools D, amenities F, commute F.
• Fort Scott (town): math 19% / reading 28% proficiency, ranked #150 of 169 in KS (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 70 active listings in the ZIP; 5 units permitted in Bourbon County in 2024 (0 in 5+ unit buildings).
• Bourbon County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $95k implies a 76% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.2% vs local median 4.9% in Fort Scott — 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.