507-509 Park St · Salina, KS 67401

$94,900

4 bd · 2.0 ba · 2,104 sqft · SingleFamily public records · 244 Days on market

Built 1960 8,710 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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Rent growth +3.9/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Key facts

• 8,710 sq ft lot
• Built 1960
• Listed 243 days

Property features AI

Finance

• Financial info: Unit 1 actual rent: $400; Unit 2 actual rent: $400

Exterior

• Utilities: Public water; Septic sewer
• Home design: Duplex (both sides); Residential income property
• Construction: Built with other construction materials
• Exterior features: No pool

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms
• Bathrooms: 2 full bathrooms (total); Unit 1: 1 bathroom; Unit 2: 1 bathroom
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: No fireplace; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#127 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools D-, crime F.
• Salina (town): math 21% / reading 30% proficiency, ranked #134 of 169 in KS (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+5.7%/yr); 328 active listings in the ZIP; 293 units permitted in Saline County in 2024 (186 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Saline County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 244 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $31k; list at $95k implies a 206% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $83,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 244 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 1960 — 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. 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?
6. 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?
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: 1.42% ✓
• Cap rate: 12.15%
• Cash-on-cash: 20.93%
• DSCR: 1.93
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.66% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 1.67×
• Total profit: $17,818
• Equity at exit: $14,150

10-year hold

• IRR: 26.5%
• Equity multiple: 3.61×
• Total profit: $69,469
• Equity at exit: $8,205

Cash invested: $26,572 (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 67401

• Rents YoY: 5.7%
• Active inventory: 328
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,344 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$61 /mo · $736/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $463

Break-even live

Break-even rent $758

Max offer price $94,900

Occupancy floor 61%

Sensitivity live

Price	-10% $517	-5% $490	+0% $463	+5% $437	+10% $410
Rent	-10% $357	-5% $410	+0% $463	+5% $517	+10% $570
Rate	-1.0pp $511	-0.5pp $488	base $463	+0.5pp $439	+1.0pp $414

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $94,900 Active 244 DOM
2. 2026-06-18
   days on market $94,900 Active 243 DOM
3. 2026-06-17
   days on market $94,900 Active 242 DOM
4. 2026-06-16
   days on market $94,900 Active 241 DOM
5. 2026-06-15
   days on market $94,900 Active 240 DOM
6. 2026-06-14
   days on market $94,900 Active 238 DOM
7. 2026-06-12
   days on market $94,900 Active 237 DOM
8. 2026-06-09
   days on market $94,900 Active 234 DOM
9. 2026-06-08
   days on market $94,900 Active 233 DOM
10. 2026-06-07
    days on market $94,900 Active 232 DOM
11. 2026-06-05
    days on market $94,900 Active 229 DOM
12. 2026-06-03
    days on market $94,900 Active 228 DOM
13. 2026-06-02
    days on market $94,900 Active 227 DOM
14. 2026-06-01
    days on market $94,900 Active 226 DOM
15. 2026-05-31
    days on market $94,900 Active 225 DOM
16. 2026-05-30
    days on market $94,900 Active 224 DOM
17. 2026-03-11
    price $94,900
18. 2025-11-07
    price $99,900
19. 2025-10-07
    listed $104,900 Active
20. 1989-02-01
    soldstatus $31,000

ⓘ 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: $736 · $61/mo
• Projected year-2 tax: $1,338 · $112/mo
• Expected delta: +$602/yr (+$50/mo · 81.7%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,132
• − Mortgage interest: −$5,316
• − Property taxes: −$736
• − Insurance: −$474
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$2,761
• Taxable income: $4,263
• Est. tax owed @ 24.0%: −$1,023
• After-tax cash flow: $4,538/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: Salina
• NCES district ID: 2011370
• Math proficiency: 21% ▼ -3.00%
• Reading proficiency: 30% ▼ -1.00%
• Median HH income: $44,726
• Composite: 21.94/100
• National rank: #8224
• State rank: #134 of 169 in KS

Livability — Salina

• Score: 71/100
• State rank: #127
• US rank: #6569

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salina, KS
• County: Saline County · 50,217 people
• City population: 50,217
• Metro: Salina, KS
• Population (ZIP): 50,217
• Household income: $64,606
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1536.0

Population outlook (Saline County) Hauer SSP2

• Today (2025): 55,099 people
• By 2030: 54,446 · -1.2%
• By 2040: 52,572 · -4.6%
• By 2050: 50,362 · -8.6%
• By 2075: 45,522 · -17.4%
• By 2100: 40,059 · -27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 13% Two or more races 7% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 3% Iranian 2% Slovak 2%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 6% Other Asian/Pacific 1% Korean 1%

Political lean MEDSL · Saline

• 2024 margin: Solid R (+31.6) · D 33.3% · R 64.9% · Other 1.8%
• 2008→2024 swing: -5.3pp toward R · 2008: -26.2pp · 2024: -31.6pp
• All cycles: 2024: R+31.6 2020: R+30.5 2016: R+34.3 2012: R+32.2 2008: R+26.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.03%
• Current HPI: 175.4541
• Rent YoY: ▲ 5.66%
• Metro: Salina, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+206.1% since first listed

4 events — show timeline

• 2026-03-11 Price Changed $94,900 FHAOR as distributed by MLS GRID
• 2025-11-07 Price Changed $99,900 FHAOR as distributed by MLS GRID
• 2025-10-07 Listed $104,900 FHAOR as distributed by MLS GRID
• 1989-02-01 Sold (Public Records) $31,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $736 · +15.1% YoY. Source: county tax records.