409 E 5th St · Pratt, KS 67124

$99,000

2 bd · 2.0 ba · 764 sqft · SingleFamily public records · 277 Days on market

Built 1940 4,792 sqft lot

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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 +12.2/30.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cozy bungalow features two bedrooms and bathroom on main floor and possibly two more bedrooms and bathroom in basement as well. There is nice size living room that leads to the kitchen with plenty of cabinets and breakfast nook area. The main floor bathroom has been updated and located in between both bedrooms. The finished basement has nice size family room and large utility room along with the extra bedroom and storage room, office or another bedroom if needed. The interior of the home has been freshly painted, most of the carpet is two years old, nice fixtures, and other updates have been done. On the outside you will find nice shade with the beautiful trees in front and back to help keep the electric bills low. There will be a brand new carport installed soon in back. This house is move-in ready and ready for new owners.

Key facts

• Covered front porch
• Breakfast nook
• Large living room

Tags

• COVERED FRONT PORCH
• LARGE LIVING ROOM
• BREAKFAST NOOK
• LAUNDRY UTILITY ROOM
• FLEX SPACE FAMILY ROOM
• FULLY FENCED BACKYARD

Property features AI

Exterior

• Parking: 1 parking space; Alley access
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame construction; Composition roof; Above-grade and below-grade finished areas present
• Exterior features: Covered patio; Wood privacy fence; Paved road access

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher not listed
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Natural gas heating; Central air; Ceiling fans; Electric cooling components
• Interior features: Disposal; Full basement
• Laundry & utility: Washer; Electric dryer hookup in lower level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $-21 ($-248/yr) — negative.
• To cash-flow at today's rent, offer at most $96k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $84k (15.2% below list).
• Recommended offer: $84k (15.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#44 in KS, #3,279 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D, amenities F.
• Pratt (town): math 31% / reading 37% proficiency, ranked #69 of 169 in KS (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Southwest Elem (math 52% / reading 47%, grade D, #165 of 684 statewide, top 28%, 525 students, 46% FRL); Liberty Middle School (math 23% / reading 36%, grade F, #72 of 219 statewide, top 38%, 329 students, 54% FRL); Pratt Sr High (math 22% / reading 22%, grade F, #165 of 327 statewide, top 55%, 325 students, 43% FRL).
• Market conditions: 52 active listings in the ZIP; 4 units permitted in Pratt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pratt County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 277 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $99k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,990 (15.2% 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. It's been on market 277 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.85% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.89%
• DSCR: 0.96
• GRM: 9.8

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: -17.8%
• Equity multiple: 0.37×
• Total profit: $-17,345
• Equity at exit: $14,761

10-year hold

• IRR: -9.9%
• Equity multiple: 0.40×
• Total profit: $-16,745
• Equity at exit: $8,560

Cash invested: $27,720 (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 67124

• Home prices YoY: -31.6%
• Active inventory: 52
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $840 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $-21

Break-even live

Break-even rent $866

Max offer price $96,013

Occupancy floor 97%

Sensitivity live

Price	-10% $48	-5% $14	+0% $-21	+5% $-55	+10% $-89
Rent	-10% $-87	-5% $-54	+0% $-21	+5% $13	+10% $46
Rate	-1.0pp $29	-0.5pp $5	base $-21	+0.5pp $-46	+1.0pp $-72

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $99,000 Active 277 DOM
2. 2026-06-21
   days on market $99,000 Active 276 DOM
3. 2026-06-18
   days on market $99,000 Active 274 DOM
4. 2026-06-17
   days on market $99,000 Active 273 DOM
5. 2026-06-16
   days on market $99,000 Active 272 DOM
6. 2026-06-15
   days on market $99,000 Active 271 DOM
7. 2026-06-13
   days on market $99,000 Active 269 DOM
8. 2026-06-12
   days on market $99,000 Active 268 DOM
9. 2026-06-09
   days on market $99,000 Active 265 DOM
10. 2026-06-08
    days on market $99,000 Active 264 DOM
11. 2026-06-07
    days on market $99,000 Active 263 DOM
12. 2026-06-05
    days on market $99,000 Active 261 DOM
13. 2026-06-04
    days on market $99,000 Active 259 DOM
14. 2026-06-02
    days on market $99,000 Active 258 DOM
15. 2026-06-01
    days on market $99,000 Active 257 DOM
16. 2026-05-31
    days on market $99,000 Active 256 DOM
17. 2026-05-31
    days on market $99,000 Active 255 DOM
18. 2026-02-22
    price $99,000
19. 2025-11-24
    price $104,500
20. 2025-09-17
    listed $110,000 Active
21. 2015-05-26
    soldstatus 841-char remark

    Show marketing remark (841 chars)

    This cozy bungalow features two bedrooms and bathroom on main floor and possibly two more bedrooms and bathroom in basement as well. There is nice size living room that leads to the kitchen with plenty of cabinets and breakfast nook area. The main floor bathroom has been updated and located in between both bedrooms. The finished basement has nice size family room and large utility room along with the extra bedroom and storage room, office or another bedroom if needed. The interior of the home has been freshly painted, most of the carpet is two years old, nice fixtures, and other updates have been done. On the outside you will find nice shade with the beautiful trees in front and back to help keep the electric bills low. There will be a brand new carport installed soon in back. This house is move-in ready and ready for new owners.

22. 2015-04-20
    listed $69,000 841-char remark

    Show marketing remark (841 chars)

    This cozy bungalow features two bedrooms and bathroom on main floor and possibly two more bedrooms and bathroom in basement as well. There is nice size living room that leads to the kitchen with plenty of cabinets and breakfast nook area. The main floor bathroom has been updated and located in between both bedrooms. The finished basement has nice size family room and large utility room along with the extra bedroom and storage room, office or another bedroom if needed. The interior of the home has been freshly painted, most of the carpet is two years old, nice fixtures, and other updates have been done. On the outside you will find nice shade with the beautiful trees in front and back to help keep the electric bills low. There will be a brand new carport installed soon in back. This house is move-in ready and ready for new owners.

23. 2009-03-07
    soldstatus
24. 2004-07-01
    soldstatus $40,000
25. 2002-04-01
    soldstatus $40,000

ⓘ 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 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥105°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: $10,079
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$806
• − Management: −$806
• − Depreciation: −$2,880
• Taxable loss: −$1,939
• Est. tax savings @ 24.0%: +$465
• After-tax cash flow: $218/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: Pratt
• NCES district ID: 2010890
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 37% ▲ 2.00%
• Median HH income: $46,198
• Composite: 29.14/100
• National rank: #6583
• State rank: #69 of 169 in KS

Livability — Pratt

• Score: 76/100
• State rank: #44
• US rank: #3279

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pratt, KS
• Population (ZIP): 7,822

Population outlook (Pratt County) Hauer SSP2

• Today (2025): 9,946 people
• By 2030: 10,018 · +0.7%
• By 2040: 10,264 · +3.2%
• By 2050: 10,693 · +7.5%
• By 2075: 12,041 · +21.1%
• By 2100: 12,973 · +30.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 7% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 3% Italian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Pratt

• 2024 margin: Solid R (+51.5) · D 23.4% · R 74.8% · Other 1.8%
• 2008→2024 swing: -15.0pp toward R · 2008: -36.5pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+52.7 2016: R+54.0 2012: R+46.8 2008: R+36.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.47%
• Current HPI: 143.6335
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+147.5% since first listed

8 events — show timeline

• 2026-02-22 Price Changed $99,000 MKMLS as distributed by MLS GRID
• 2025-11-24 Price Changed $104,500 MKMLS as distributed by MLS GRID
• 2025-09-17 Listed $110,000 MKMLS as distributed by MLS GRID
• 2015-05-26 Sold (MLS) — MKMLS as distributed by MLS GRID
• 2015-04-20 Listed $69,000 MKMLS as distributed by MLS GRID
• 2009-03-07 Sold (Public Records) — Public Records
• 2004-07-01 Sold (Public Records) $40,000 Public Records
• 2002-04-01 Sold (Public Records) $40,000 Public Records