205 Dodge St · Ensign, KS 67841

$125,000

2 bd · 1.0 ba · 1,116 sqft · SingleFamily public records · 1 Days on market

Built 1948

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Why this score? — see what drove the D 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 +9.7/30.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +2.9/10.0
• Livability +2.9/5.0
• DSCR +2.8/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Large lot
• Covered back patio
• Built 1948

Tags

• LARGE LOT
• DETACHED 2-CAR GARAGE
• COVERED BACK PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-81 ($-976/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (9.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $99k (20.8% below list).
• Recommended offer: $99k (20.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#523 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, schools F.
• Cimarron-Ensign (rural): math 29% / reading 29% proficiency, ranked #98 of 169 in KS (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 2 active listings in the ZIP; 14 units permitted in Gray County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($864 loan paydown + $8k appreciation (6.8% local appreciation)).
• Gray County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.8% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,057 (20.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1948 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.79% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.79%
• DSCR: 0.88
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.77% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.0%
• Equity multiple: 2.05×
• Total profit: $36,722
• Equity at exit: $84,745

10-year hold

• IRR: 15.0%
• Equity multiple: 4.17×
• Total profit: $110,847
• Equity at exit: $159,305

Cash invested: $35,000 (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 67841

• Home prices YoY: 3.4%
• Active inventory: 2
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $991 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $-81

Break-even live

Break-even rent $1,093

Max offer price $113,236

Occupancy floor —

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-06-18
   listed $125,000 Active 1 DOM

ⓘ 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 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,887
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$951
• − Management: −$951
• − Depreciation: −$3,636
• Taxable loss: −$3,153
• Est. tax savings @ 24.0%: +$757
• After-tax cash flow: $-219/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: Cimarron-Ensign
• NCES district ID: 2004800
• Math proficiency: 29% ▬ 0.00%
• Reading proficiency: 29% ▲ 1.00%
• Median HH income: $56,028
• Composite: 25.96/100
• National rank: #7331
• State rank: #98 of 169 in KS

Livability — Ensign

• Score: 57/100
• State rank: #523
• US rank: #21780

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ensign, KS
• Population (ZIP): 372

Population outlook (Gray County) Hauer SSP2

• Today (2025): 6,193 people
• By 2030: 6,114 · -1.3%
• By 2040: 5,880 · -5.1%
• By 2050: 5,550 · -10.4%
• By 2075: 4,693 · -24.2%
• By 2100: 3,627 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 5% Portuguese 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 2%

Political lean MEDSL · Gray

• 2024 margin: Solid R (+69.0) · D 14.8% · R 83.8% · Other 1.5%
• 2008→2024 swing: -12.0pp toward R · 2008: -57.0pp · 2024: -69.0pp
• All cycles: 2024: R+69.0 2020: R+68.5 2016: R+69.3 2012: R+66.5 2008: R+57.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.77%
• Current HPI: 208.2316
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-18 Listed $125,000 FSBO.com