618 Main St · Osage City, KS 66523

$105,000

5 bd · 5.0 ba · 3,278 sqft · MultiFamily public records · 186 Days on market

Built 1900 0.25 ac lot

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Why this score? — see what drove the C+ 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 +23.9/30.0
• DSCR +7.7/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +3.4/10.0
• Appreciation +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

2 STY home with income potential. Live on main floor and rent 3 apartments upstairs. Separate entrances. Covered front porch. Formal DR. L-shape kit. Mudrm/laundry. Sitting rm & LR. 2 BR & 2 BA on main flr. 3 apartments up stairs (2-one BR & 1 studio). Attached garage. Partial bsmt/storage. Privacy fenced backyard. Just one block south of main street. Close to shopping, schools, parks and churches.

Key facts

• Covered front porch
• Income potential
• Mudroom laundry

Tags

• INCOME POTENTIAL
• SEPARATE ENTRANCES
• COVERED FRONT PORCH
• MUDROOM LAUNDRY
• PRIVACY FENCED BACKYARD

Property features AI

Exterior

• Parking: Attached garage (1 space)
• Utilities: Public water; Public sewer
• Home design: Single-family residence (single house)
• Construction: Frame construction
• Exterior features: Privacy fencing; Composition roof

Interior

• Flooring: Hardwood; Vinyl; Laminate; Carpet
• Bathrooms: Five full bathrooms
• Heating & cooling: Central air; Window unit(s)
• Interior features: Basement (partial, unfinished) with block and crawl space elements; Hardwood, vinyl, laminate and carpet flooring

What this means for you Summary

Snapshot

• This is a 5-bed/5.0-bath multifamily listed at $105k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#126 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Osage City (town): math 38% / reading 41% proficiency, ranked #39 of 169 in KS (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Osage City Middle School (math 42% / reading 37%, grade F, #28 of 219 statewide, top 13%, 147 students, 54% FRL); Osage City High (math 15% / reading 15%, grade F, #249 of 327 statewide, top 79%, 228 students, 49% FRL).
• Zoned-school proficiency averages 27% at this address vs 40% district-wide (-12 pts) — the specific schools serving this property underperform the Osage City average; the district grade overstates school quality for this exact location.
• Market conditions: 26 active listings in the ZIP; 49 units permitted in Osage County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Osage County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 186 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 186 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.26% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.35%
• DSCR: 1.37
• GRM: 6.6

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: -3.5%
• Equity multiple: 0.87×
• Total profit: $-3,898
• Equity at exit: $15,656

10-year hold

• IRR: 6.2%
• Equity multiple: 1.47×
• Total profit: $13,743
• Equity at exit: $9,078

Cash invested: $29,400 (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 66523

• Home prices YoY: -1.8%
• Active inventory: 26
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,320 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$244 /mo · $2,923/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $205

Break-even live

Break-even rent $1,061

Max offer price $105,000

Occupancy floor 80%

Sensitivity live

Price	-10% $264	-5% $234	+0% $205	+5% $175	+10% $145
Rent	-10% $100	-5% $152	+0% $205	+5% $257	+10% $309
Rate	-1.0pp $257	-0.5pp $231	base $205	+0.5pp $177	+1.0pp $150

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $105,000 Active 186 DOM
2. 2026-06-21
   days on market $105,000 Active 185 DOM
3. 2026-06-18
   days on market $105,000 Active 183 DOM
4. 2026-06-17
   days on market $105,000 Active 182 DOM
5. 2026-06-16
   days on market $105,000 Active 181 DOM
6. 2026-06-15
   days on market $105,000 Active 180 DOM
7. 2026-06-13
   days on market $105,000 Active 178 DOM
8. 2026-06-12
   days on market $105,000 Active 177 DOM
9. 2026-06-09
   days on market $105,000 Active 174 DOM
10. 2026-06-08
    days on market $105,000 Active 173 DOM
11. 2026-06-07
    days on market $105,000 Active 172 DOM
12. 2026-06-05
    days on market $105,000 Active 170 DOM
13. 2026-06-04
    days on market $105,000 Active 168 DOM
14. 2026-06-02
    days on market $105,000 Active 167 DOM
15. 2026-06-01
    days on market $105,000 Active 166 DOM
16. 2026-05-31
    days on market $105,000 Active 165 DOM
17. 2026-05-31
    days on market $105,000 Active 164 DOM
18. 2025-12-17
    listed $105,000 Active
19. 2025-08-14
    price $120,000
20. 2016-06-10
    soldstatus 419-char remark

    Show marketing remark (419 chars)

    2 STY home with income potential. Live on main floor and rent 3 apartments upstairs. Separate entrances. Covered front porch. Formal DR. L-shape kit. Mudrm/laundry. Sitting rm & LR. 2 BR & 2 BA on main flr. 3 apartments up stairs (2-one BR & 1 studio). Attached garage. Partial bsmt/storage. Privacy fenced backyard. Just one block south of main street. Close to shopping, schools, parks and churches.

21. 2016-06-10
    soldstatus

    Show marketing remark (419 chars)

    2 STY home with income potential. Live on main floor and rent 3 apartments upstairs. Separate entrances. Covered front porch. Formal DR. L-shape kit. Mudrm/laundry. Sitting rm & LR. 2 BR & 2 BA on main flr. 3 apartments up stairs (2-one BR & 1 studio). Attached garage. Partial bsmt/storage. Privacy fenced backyard. Just one block south of main street. Close to shopping, schools, parks and churches.

22. 2015-09-22
    listed $74,500 419-char remark

    Show marketing remark (419 chars)

    2 STY home with income potential. Live on main floor and rent 3 apartments upstairs. Separate entrances. Covered front porch. Formal DR. L-shape kit. Mudrm/laundry. Sitting rm & LR. 2 BR & 2 BA on main flr. 3 apartments up stairs (2-one BR & 1 studio). Attached garage. Partial bsmt/storage. Privacy fenced backyard. Just one block south of main street. Close to shopping, schools, parks and churches.

23. 2015-09-16
    listed $64,500

ⓘ 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: $2,923 · $244/mo
• Projected year-2 tax: $2,923 · $244/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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,835
• − Mortgage interest: −$5,882
• − Property taxes: −$2,923
• − Insurance: −$525
• − Repairs & maintenance: −$1,267
• − Management: −$1,267
• − Depreciation: −$3,055
• Taxable income: $918
• Est. tax owed @ 24.0%: −$220
• After-tax cash flow: $2,234/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: Osage City
• NCES district ID: 2010230
• Math proficiency: 38% ▼ -2.00%
• Reading proficiency: 41% ▲ 3.00%
• Median HH income: $44,613
• Composite: 33.56/100
• National rank: #5422
• State rank: #39 of 169 in KS

Livability — Osage City

• Score: 71/100
• State rank: #126
• US rank: #6536

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Osage City, KS
• City population: 3,873
• Population (ZIP): 3,873

Population outlook (Osage County) Hauer SSP2

• Today (2025): 15,418 people
• By 2030: 15,072 · -2.2%
• By 2040: 14,339 · -7.0%
• By 2050: 13,708 · -11.1%
• By 2075: 13,221 · -14.2%
• By 2100: 12,915 · -16.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Italian 11% Portuguese 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1% Other Indo-European 0%

Political lean MEDSL · Osage

• 2024 margin: Solid R (+48.0) · D 24.7% · R 72.7% · Other 2.7%
• 2008→2024 swing: -17.7pp toward R · 2008: -30.3pp · 2024: -48.0pp
• All cycles: 2024: R+48.0 2020: R+44.2 2016: R+43.3 2012: R+31.1 2008: R+30.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.28%
• Current HPI: 229.1195
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+62.8% since first listed

6 events — show timeline

• 2025-12-17 Listed $105,000 Sunflower MLS as distributed by MLS GRID
• 2025-08-14 Price Changed $120,000 Sunflower MLS as distributed by MLS GRID
• 2016-06-10 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2016-06-10 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2015-09-22 Listed $74,500 Heartland MLS as Distributed by MLS Grid
• 2015-09-16 Listed $64,500 Sunflower MLS as distributed by MLS GRID

Property tax history

+5.2%/yr

Latest (2025): $2,923 · +10.7% YoY. Source: county tax records.