117 Cherry Ave · Minneapolis, KS 67467

$69,900

3 bd · 1.0 ba · 1,338 sqft · SingleFamily public records · 69 Days on market

Built 1918 8,712 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 +6.4/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 9 foot ceilings
• Bungalow styled home
• Hardwood floors

Tags

• BUNGALOW STYLED HOME
• 9 FOOT CEILINGS
• HARDWOOD FLOORS
• MAIN FLOOR LAUNDRY ROOM
• ENCLOSED FRONT PORCH
• LOW MAINTENANCE VINYL SIDING

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Public sewer available; Natural gas available; Public utilities
• Home design: Single-family onsite-built home
• Construction: Partial foundation with crawl space; No egress window(s)
• Exterior features: One level; Storm windows; Composition roof

Interior

• Kitchen: Range
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Wall/window cooling units
• Interior features: Range; Unfinished basement
• Laundry & utility: Main floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#40 in KS, #3,169 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• North Ottawa County (rural): math 34% / reading 34% proficiency, ranked #62 of 169 in KS (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Minneapolis Elementary (math 37% / reading 37%, grade F, #358 of 684 statewide, top 56%, 327 students, 51% FRL); Minneapolis Jr-Sr High School (math 27% / reading 32%, grade F, #60 of 327 statewide, top 24%, 302 students, 45% FRL) — zoned schools average 48% FRL vs 29% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 24 active listings in the ZIP; 12 units permitted in Ottawa County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($483 loan paydown + $2k appreciation (2.8% local appreciation)).
• Ottawa County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $38k; list at $70k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.55% ✓
• Cap rate: 11.75%
• Cash-on-cash: 19.49%
• DSCR: 1.87
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.4%
• Equity multiple: 2.43×
• Total profit: $27,971
• Equity at exit: $30,637

10-year hold

• IRR: 26.4%
• Equity multiple: 4.69×
• Total profit: $72,210
• Equity at exit: $46,607

Cash invested: $19,572 (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 67467

• Home prices YoY: 1.4%
• Active inventory: 24
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,081 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$140 /mo · $1,683/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $318

Break-even live

Break-even rent $678

Max offer price $69,900

Occupancy floor 66%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $69,900 Active 69 DOM
2. 2026-06-17
   days on market $69,900 Active 68 DOM
3. 2026-06-16
   days on market $69,900 Active 67 DOM
4. 2026-06-15
   days on market $69,900 Active 66 DOM
5. 2026-06-13
   days on market $69,900 Active 64 DOM
6. 2026-06-12
   days on market $69,900 Active 63 DOM
7. 2026-06-09
   days on market $69,900 Active 60 DOM
8. 2026-06-08
   days on market $69,900 Active 59 DOM
9. 2026-06-07
   days on market $69,900 Active 58 DOM
10. 2026-06-05
    days on market $69,900 Active 56 DOM
11. 2026-06-04
    days on market $69,900 Active 54 DOM
12. 2026-06-02
    days on market $69,900 Active 53 DOM
13. 2026-06-01
    days on market $69,900 Active 52 DOM
14. 2026-05-31
    days on market $69,900 Active 51 DOM
15. 2026-05-31
    days on market $69,900 Active 50 DOM
16. 2026-04-27
    price $69,900
17. 2026-04-10
    listed $73,000 Active
18. 2008-02-25
    soldstatus
19. 2008-02-01
    soldstatus $37,800
20. 1992-10-01
    soldstatus $20,500

ⓘ 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: $1,683 · $140/mo
• Projected year-2 tax: $1,683 · $140/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 ≥109°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,970
• − Mortgage interest: −$3,915
• − Property taxes: −$1,683
• − Insurance: −$350
• − Repairs & maintenance: −$1,038
• − Management: −$1,038
• − Depreciation: −$2,033
• Taxable income: $2,913
• Est. tax owed @ 24.0%: −$699
• After-tax cash flow: $3,116/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: North Ottawa County
• NCES district ID: 2009570
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 34% ▼ -9.00%
• Median HH income: $50,499
• Composite: 29.58/100
• National rank: #6483
• State rank: #62 of 169 in KS

Livability — Minneapolis

• Score: 77/100
• State rank: #40
• US rank: #3169

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: Minneapolis, KS
• Population (ZIP): 2,701

Population outlook (Ottawa County) Hauer SSP2

• Today (2025): 5,796 people
• By 2030: 5,660 · -2.3%
• By 2040: 5,366 · -7.4%
• By 2050: 5,017 · -13.4%
• By 2075: 4,494 · -22.5%
• By 2100: 3,766 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Slovak 3% Iranian 3% Lithuanian 2%
• Foreign-born: 0%

Political lean MEDSL · Ottawa

• 2024 margin: Solid R (+66.6) · D 15.8% · R 82.4% · Other 1.7%
• 2008→2024 swing: -14.1pp toward R · 2008: -52.5pp · 2024: -66.6pp
• All cycles: 2024: R+66.6 2020: R+65.8 2016: R+64.1 2012: R+59.3 2008: R+52.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.80%
• Current HPI: 200.3448
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+241.0% since first listed

5 events — show timeline

• 2026-04-27 Price Changed $69,900 SCKMLS as Distributed by MLS Grid
• 2026-04-10 Listed $73,000 SCKMLS as Distributed by MLS Grid
• 2008-02-25 Sold (Public Records) — Public Records
• 2008-02-01 Sold (Public Records) $37,800 Public Records
• 1992-10-01 Sold (Public Records) $20,500 Public Records

Property tax history

+5.4%/yr

Latest (2025): $1,683 · +11.4% YoY. Source: county tax records.