114 N Olivette St · McPherson, KS 67460

$135,000

2 bd · 2.0 ba · 776 sqft · SingleFamily public records · 1 Days on market

Built 1942 6,534 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.3/30.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great family home or a chance to invest in a rental property. This home has 2 bedrooms, one and a half baths, new flooring on main floor and basement , a large family room, bonus room, new basement wall poured with an egress window added in the basement, large laundry room with plenty of storage, new front porch, and list goes on and on. Need room to park all of your cars? This home has not one but two garages! Call the listing agent for your private tour.

Key facts

• Large family room
• Bonus room
• Egress window

Tags

• FULLY REMODELED KITCHEN
• EGRESS WINDOW
• LARGE FAMILY ROOM
• BONUS ROOM
• SPACIOUS LAUNDRY ROOM
• ABUNDANT STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-177 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $104k (23.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $96k (28.5% below list).
• Recommended offer: $96k (28.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#12 in KS, #1,567 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Mcpherson (town): math 25% / reading 32% proficiency, ranked #103 of 169 in KS (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Washington Elem (math 37% / reading 42%, grade F, #321 of 684 statewide, top 52%, 285 students, 47% FRL); Mcpherson Middle School (math 21% / reading 27%, grade F, #121 of 219 statewide, top 56%, 492 students, 42% FRL); Mcpherson High (math 22% / reading 22%, grade F, #165 of 327 statewide, top 55%, 709 students, 36% FRL).
• Market conditions: 149 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 102 units permitted in McPherson County in 2024 (0 in 5+ unit buildings).
• This rent is only 14% of the median local income ($81k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• McPherson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 23y 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.
• Current owner paid $59k; list at $135k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,500 (28.5% 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 1942 — 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. 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?
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: 0.71% ✗
• Cap rate: 4.72%
• Cash-on-cash: -5.63%
• DSCR: 0.75
• GRM: 11.7

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: -25.9%
• Equity multiple: 0.12×
• Total profit: $-33,152
• Equity at exit: $20,129

10-year hold

• IRR: -22.5%
• Equity multiple: -0.15×
• Total profit: $-43,337
• Equity at exit: $11,672

Cash invested: $37,800 (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 67460

• Active inventory: 149
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $965 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$175 /mo · $2,106/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $-177

Break-even live

Break-even rent $1,189

Max offer price $103,672

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1909 Millers Ln Unit 440 DD McPherson, KS	2.0	2.0	960	$850	$0.89	23d	1	0.52mi
1909 Millers Ln Unit 432 McPherson, KS	2.0	2.0	960	$850	$0.89	21d	1	0.52mi

Listing history 11 events

1. 2026-04-25
   status Pending
2. 2026-04-24
   listed $135,000 Active
3. 2019-08-20
   soldstatus 460-char remark

   Show marketing remark (460 chars)

   Great family home or a chance to invest in a rental property. This home has 2 bedrooms, one and a half baths, new flooring on main floor and basement , a large family room, bonus room, new basement wall poured with an egress window added in the basement, large laundry room with plenty of storage, new front porch, and list goes on and on. Need room to park all of your cars? This home has not one but two garages! Call the listing agent for your private tour.

4. 2019-05-14
   listed $119,900 460-char remark

   Show marketing remark (460 chars)

   Great family home or a chance to invest in a rental property. This home has 2 bedrooms, one and a half baths, new flooring on main floor and basement , a large family room, bonus room, new basement wall poured with an egress window added in the basement, large laundry room with plenty of storage, new front porch, and list goes on and on. Need room to park all of your cars? This home has not one but two garages! Call the listing agent for your private tour.

5. 2018-12-07
   soldstatus 441-char remark

   Show marketing remark (441 chars)

   This nice bungalow has steel siding, newer roof (2016), newer water heater (2015), and newer HVAC (2010). There is plenty of storage space for vehicle with an attached 1 car carport, and two detached garages. The backyard also features a brick patio, storage shed, a chainlink fence, and has alley access. Inside you'll find 2 bedrooms, 1 full bath on the main floor with an additional half bath, bonus room, and family room in the basement.

6. 2018-08-03
   listed $55,000 441-char remark

   Show marketing remark (441 chars)

   This nice bungalow has steel siding, newer roof (2016), newer water heater (2015), and newer HVAC (2010). There is plenty of storage space for vehicle with an attached 1 car carport, and two detached garages. The backyard also features a brick patio, storage shed, a chainlink fence, and has alley access. Inside you'll find 2 bedrooms, 1 full bath on the main floor with an additional half bath, bonus room, and family room in the basement.

7. 2003-10-14
   soldstatus
8. 2003-10-01
   soldstatus $59,000
9. 2003-07-23
   listed $59,900
10. 1997-11-01
    soldstatus $47,500
11. 1997-06-01
    soldstatus $36,000

ⓘ 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: $2,106 · $175/mo
• Projected year-2 tax: $2,106 · $175/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 ≥106°F today · 18 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: $11,580
• − Mortgage interest: −$7,562
• − Property taxes: −$2,106
• − Insurance: −$675
• − Repairs & maintenance: −$926
• − Management: −$926
• − Depreciation: −$3,927
• Taxable loss: −$4,543
• Est. tax savings @ 24.0%: +$1,090
• After-tax cash flow: $-1,038/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: Mcpherson
• NCES district ID: 2009390
• Math proficiency: 25% ▼ -3.00%
• Reading proficiency: 32% ▲ 1.00%
• Median HH income: $54,750
• Composite: 25.39/100
• National rank: #7468
• State rank: #103 of 169 in KS

Livability — McPherson

• Score: 81/100
• State rank: #12
• US rank: #1567

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McPherson, KS
• County: McPherson County · 16,348 people
• City population: 16,348
• Metro: McPherson, KS
• Population (ZIP): 16,348
• Household income: $80,720
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 492.0

Population outlook (McPherson County) Hauer SSP2

• Today (2025): 28,958 people
• By 2030: 28,735 · -0.8%
• By 2040: 28,020 · -3.2%
• By 2050: 27,276 · -5.8%
• By 2075: 26,211 · -9.5%
• By 2100: 23,976 · -17.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 4% Iranian 3% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · McPherson

• 2024 margin: Solid R (+41.1) · D 28.5% · R 69.6% · Other 1.9%
• 2008→2024 swing: -5.8pp toward R · 2008: -35.3pp · 2024: -41.1pp
• All cycles: 2024: R+41.1 2020: R+40.3 2016: R+42.0 2012: R+41.6 2008: R+35.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -216.18%
• Current HPI: 155.3302
• Rent YoY: —
• Metro: McPherson, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+275.0% since first listed

11 events — show timeline

• 2026-04-25 Pending — SCKMLS as Distributed by MLS Grid
• 2026-04-24 Listed $135,000 SCKMLS as Distributed by MLS Grid
• 2019-08-20 Sold (MLS) — MKMLS as distributed by MLS GRID
• 2019-05-14 Listed $119,900 MKMLS as distributed by MLS GRID
• 2018-12-07 Sold (MLS) — MKMLS as distributed by MLS GRID
• 2018-08-03 Listed $55,000 MKMLS as distributed by MLS GRID
• 2003-10-14 Sold (MLS) — MKMLS as distributed by MLS GRID
• 2003-10-01 Sold (Public Records) $59,000 Public Records
• 2003-07-23 Listed $59,900 MKMLS as distributed by MLS GRID
• 1997-11-01 Sold (Public Records) $47,500 Public Records
• 1997-06-01 Sold (Public Records) $36,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $2,106 · +2.8% YoY. Source: county tax records.