200 E 17th St · Hays, KS 67601

$220,000

6 bd · 4.0 ba · 2,737 sqft · MultiFamily public records · 70 Days on market

Built 1920 0.26 ac 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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. 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.

Key facts

• 0.26 acre lot
• Built 1920
• Listed 69 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property — Quadruplex; Zoned NC.3 / R-3
• Construction: Wood siding construction
• Exterior features: Composition roof

Interior

• Heating & cooling: Central air; Window unit(s)
• Interior features: Partial basement; Total of 29 rooms

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $808 ($10k/yr) — positive. Per door: $269/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $207k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 81/100 on livability (#10 in KS, #1,501 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment C-, commute F.
• Hays (town): math 36% / reading 47% proficiency, ranked #27 of 169 in KS (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 141 active listings in the ZIP; 34 units permitted in Ellis County in 2024 (0 in 5+ unit buildings).
• At $2,872/mo this rent would consume 56% of the median local household income ($61k/yr) (locally 1019% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Ellis County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $57k; list at $220k implies a 286% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $206,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.31% ✓
• Cap rate: 10.70%
• Cash-on-cash: 15.73%
• DSCR: 1.70
• GRM: 6.4

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: 6.6%
• Equity multiple: 1.26×
• Total profit: $15,797
• Equity at exit: $32,803

10-year hold

• IRR: 15.9%
• Equity multiple: 2.30×
• Total profit: $80,021
• Equity at exit: $19,022

Cash invested: $61,600 (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 67601

• Active inventory: 141
• Price-to-rent: 19.1×

Monthly cashflow live

• Estimated rent: $2,872 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$216 /mo · $2,590/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$603
• Net cashflow: $808

Break-even live

Break-even rent $1,850

Max offer price $220,000

Occupancy floor 67%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$2,871
Total (3 units)			$2,872

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $220,000 Active 70 DOM
2. 2026-06-18
   days on market $220,000 Active 69 DOM
3. 2026-06-17
   days on market $220,000 Active 68 DOM
4. 2026-06-16
   days on market $220,000 Active 67 DOM
5. 2026-06-15
   days on market $220,000 Active 66 DOM
6. 2026-06-14
   days on market $220,000 Active 64 DOM
7. 2026-06-12
   days on market $220,000 Active 63 DOM
8. 2026-06-09
   days on market $220,000 Active 60 DOM
9. 2026-06-08
   days on market $220,000 Active 59 DOM
10. 2026-06-07
    days on market $220,000 Active 58 DOM
11. 2026-06-05
    days on market $220,000 Active 56 DOM
12. 2026-06-02
    days on market $220,000 Active 53 DOM
13. 2026-06-01
    days on market $220,000 Active 52 DOM
14. 2026-05-31
    days on market $220,000 Active 51 DOM
15. 2026-05-30
    days on market $220,000 Active 50 DOM
16. 2026-04-10
    listed $220,000 Active
17. 2003-07-01
    soldstatus $57,000

ⓘ 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: $2,590 · $216/mo
• Projected year-2 tax: $3,102 · $258/mo
• Expected delta: +$512/yr (+$43/mo · 19.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 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: $34,464
• − Mortgage interest: −$12,323
• − Property taxes: −$2,590
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,757
• − Management: −$2,757
• − Depreciation: −$6,400
• Taxable income: $6,536
• Est. tax owed @ 24.0%: −$1,569
• After-tax cash flow: $8,123/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: Hays
• NCES district ID: 2007020
• Math proficiency: 36% ▼ -6.00%
• Reading proficiency: 47% ▲ 3.00%
• Median HH income: $44,639
• Composite: 35.18/100
• National rank: #4998
• State rank: #27 of 169 in KS

Livability — Hays

• Score: 81/100
• State rank: #10
• US rank: #1501

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hays, KS
• County: Ellis County · 24,330 people
• City population: 24,330
• Metro: Hays, KS
• Population (ZIP): 24,330
• Household income: $61,417
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 1019.0

Population outlook (Ellis County) Hauer SSP2

• Today (2025): 30,414 people
• By 2030: 31,166 · +2.5%
• By 2040: 32,361 · +6.4%
• By 2050: 33,598 · +10.5%
• By 2075: 36,890 · +21.3%
• By 2100: 39,282 · +29.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 7% Two or more races 4% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 2% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 92% English-only · Spanish 5% German/W. Germanic 1% Chinese 1%

Political lean MEDSL · Ellis

• 2024 margin: Solid R (+46.1) · D 26.0% · R 72.1% · Other 1.9%
• 2008→2024 swing: -12.4pp toward R · 2008: -33.7pp · 2024: -46.1pp
• All cycles: 2024: R+46.1 2020: R+44.0 2016: R+48.4 2012: R+43.8 2008: R+33.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -164.33%
• Current HPI: 148.4497
• Rent YoY: —
• Metro: Hays, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+286.0% since first listed

2 events — show timeline

• 2026-04-10 Listed $220,000 Hays MLS
• 2003-07-01 Sold (Public Records) $57,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,590 · +3.0% YoY. Source: county tax records.