830 Moro St · Manhattan, KS 66502

$355,000

4 bd · 4.0 ba · 2,296 sqft · MultiFamily public records · 18 Days on market

Built 1910 6,075 sqft lot

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Why this score? — see what drove the C+ 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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• Schools +3.6/10.0
• 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: 1 unit. 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.

Listing remarks MLS

4 plex located within walking distance of the KSU Campus

Key facts

• Unbeatable location
• 6,075 sq ft lot
• Built 1910

Tags

• PRIME INVESTMENT OPPORTUNITY
• STRONG RENTAL HISTORY
• UNBEATABLE LOCATION
• EASY ACCESS TO DINING
• EASY ACCESS TO ENTERTAINMENT
• EXTENSIVE CAPITAL IMPROVEMENTS

Property features AI

Finance

• Other: Tax information provided separately
• Financial info: Reported unit rents: Unit 1 $850, Unit 3 $600, Unit 4 $700
• HOA & community: No HOA details provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Residential income property; Quadruplex
• Construction: Construction materials: Unknown
• Exterior features: No fencing; Concrete road access

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 1 bedroom; Unit 3: 1 bedroom; Unit 4: 1 bedroom
• Flooring: No flooring details provided
• Bathrooms: Four full bathrooms total; Each unit includes 1 bathroom
• Heating & cooling: Electric heating; Window cooling units; Other heating and cooling features
• Interior features: Finished walk-up basement
• Laundry & utility: No laundry appliance details provided

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $355k.

Deal economics

• At list price, monthly cash flow is $812 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $355k).
• Recommended offer: $350k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 83/100 on livability (#6 in KS, #979 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime C-, employment C-.
• Manhattan-Ogden (urban): math 39% / reading 46% proficiency, ranked #26 of 169 in KS (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.0%/yr); 336 active listings in the ZIP; 132 units permitted in Riley County in 2024 (35 in 5+ unit buildings).
• At $3,927/mo this rent would consume 86% of the median local household income ($55k/yr) (locally 3089% 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 $11k of value loss. Plan a longer hold.
• Riley County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $99k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($350k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 5y ago; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $349,675 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.11% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.80%
• DSCR: 1.44
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.02% rent growth · sell at horizon

5-year hold

• IRR: 1.6%
• Equity multiple: 1.06×
• Total profit: $6,454
• Equity at exit: $52,932

10-year hold

• IRR: 13.9%
• Equity multiple: 2.26×
• Total profit: $125,734
• Equity at exit: $30,694

Cash invested: $99,400 (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 66502

• Rents YoY: 6.0%
• Active inventory: 336
• Price-to-rent: 30.1×

Monthly cashflow live

• Estimated rent: $3,927 medium
• Mortgage (P&I): −$1,862
• Tax from tax record: −$281 /mo · $3,367/yr
• Insurance: −$148
• HOA: −$0
• Vacancy / Maint / Mgmt: −$825
• Net cashflow: $812

Break-even live

Break-even rent $2,899

Max offer price $355,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,928
Total (4 units)			$3,927

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-19
   days on market $355,000 Active 18 DOM
2. 2026-06-18
   days on market $355,000 Active 17 DOM
3. 2026-06-17
   days on market $355,000 Active 16 DOM
4. 2026-06-16
   days on market $355,000 Active 15 DOM
5. 2026-06-15
   days on market $355,000 Active 14 DOM
6. 2026-06-14
   days on market $355,000 Active 12 DOM
7. 2026-06-13
   days on market $355,000 Active 11 DOM
8. 2026-06-10
   days on market $355,000 Active 9 DOM
9. 2026-06-09
   days on market $355,000 Active 8 DOM
10. 2026-06-08
    days on market $355,000 Active 7 DOM
11. 2026-06-07
    days on market $355,000 Active 6 DOM
12. 2026-06-03
    days on market $355,000 Active 2 DOM
13. 2026-06-01
    pricestatusdays on marketlisting id $355,000 Active 1 DOM
14. 2026-04-16
    price $360,000
15. 2026-02-26
    price $370,000
16. 2026-01-14
    listed $375,000 Active
17. 2024-12-19
    soldstatus Closed 56-char remark

    Show marketing remark (56 chars)

    4 plex located within walking distance of the KSU Campus

18. 2024-11-11
    status Pending 56-char remark

    Show marketing remark (56 chars)

    4 plex located within walking distance of the KSU Campus

19. 2024-10-29
    price $275,000 56-char remark

    Show marketing remark (56 chars)

    4 plex located within walking distance of the KSU Campus

20. 2024-09-21
    listed $279,500 Active 56-char remark

    Show marketing remark (56 chars)

    4 plex located within walking distance of the KSU Campus

21. 2024-04-10
    historical $725
22. 2024-03-20
    price $725
23. 2024-01-18
    price $750
24. 2024-01-12
    listed $800
25. 2024-01-12
    historical $800
26. 2024-01-12
    listed $800
27. 2023-08-17
    historical $496
28. 2023-08-06
    listed $496
29. 2023-08-05
    historical $495
30. 2023-08-01
    price $495
31. 2022-11-07
    soldstatus
32. 2022-10-31
    soldstatus Closed 293-char remark

    Show marketing remark (293 chars)

    Excellent investment property opportunity. 4 Units ALL Leased! Property is located within walking distance of campus, city park, Aggieville, downtown, Poyntz Ave. , and many more amenities that is offered in Manhattan. This is a property that can't be missed! Call Brice at (785) 422- 7078!

33. 2022-09-19
    status Pending 293-char remark

    Show marketing remark (293 chars)

    Excellent investment property opportunity. 4 Units ALL Leased! Property is located within walking distance of campus, city park, Aggieville, downtown, Poyntz Ave. , and many more amenities that is offered in Manhattan. This is a property that can't be missed! Call Brice at (785) 422- 7078!

34. 2022-09-06
    listed $200,000 Active 293-char remark

    Show marketing remark (293 chars)

    Excellent investment property opportunity. 4 Units ALL Leased! Property is located within walking distance of campus, city park, Aggieville, downtown, Poyntz Ave. , and many more amenities that is offered in Manhattan. This is a property that can't be missed! Call Brice at (785) 422- 7078!

35. 2021-11-04
    soldstatus
36. 2021-11-01
    soldstatus
37. 2021-07-20
    listed $185,000

ⓘ 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: $3,367 · $281/mo
• Projected year-2 tax: $5,006 · $417/mo
• Expected delta: +$1,638/yr (+$137/mo · 48.7%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,124
• − Mortgage interest: −$19,886
• − Property taxes: −$3,367
• − Insurance: −$1,775
• − Repairs & maintenance: −$3,770
• − Management: −$3,770
• − Depreciation: −$10,327
• Taxable income: $4,229
• Est. tax owed @ 24.0%: −$1,015
• After-tax cash flow: $8,731/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: Manhattan-Ogden
• NCES district ID: 2009180
• Math proficiency: 39% ▼ -1.00%
• Reading proficiency: 46% ▲ 1.00%
• Median HH income: $44,001
• Composite: 35.97/100
• National rank: #4795
• State rank: #26 of 169 in KS

Livability — Manhattan

• Score: 83/100
• State rank: #6
• US rank: #979

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manhattan, KS
• County: Riley County · 62,662 people
• City population: 60,966
• Metro: Manhattan, KS
• Population (ZIP): 43,693
• Household income: $54,833
• Rent vs Own: 54.0% rent · 46.0% own
• Severe rent burden: 3089.0

Population outlook (Riley County) Hauer SSP2

• Today (2025): 83,656 people
• By 2030: 89,075 · +6.5%
• By 2040: 99,100 · +18.5%
• By 2050: 109,146 · +30.5%
• By 2075: 134,178 · +60.4%
• By 2100: 153,653 · +83.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 9% Two or more races 8% Black 4% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 3% Italian 3% Lithuanian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Riley

• 2024 margin: Toss-up / Even · D 49.6% · R 47.8% · Other 2.5%
• 2008→2024 swing: +8.8pp toward D · 2008: -7.0pp · 2024: 1.8pp
• All cycles: 2024: D+1.8 2020: D+3.2 2016: R+4.5 2012: R+12.7 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -283.54%
• Current HPI: 172.7795
• Rent YoY: ▲ 6.02%
• Metro: Manhattan, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+94.6% since first listed

24 events — show timeline

• 2026-04-16 Price Changed $360,000 FHAOR as distributed by MLS GRID
• 2026-02-26 Price Changed $370,000 FHAOR as distributed by MLS GRID
• 2026-01-14 Listed $375,000 FHAOR as distributed by MLS GRID
• 2024-12-19 Sold (MLS) — FHAOR as distributed by MLS GRID
• 2024-11-11 Pending — FHAOR as distributed by MLS GRID
• 2024-10-29 Price Changed $275,000 FHAOR as distributed by MLS GRID
• 2024-09-21 Listed $279,500 FHAOR as distributed by MLS GRID
• 2024-04-10 Rental Removed $725 APPFOLIO
• 2024-03-20 Price Changed $725 APPFOLIO
• 2024-01-18 Price Changed $750 APPFOLIO
• 2024-01-12 Listed for Rent $800 APPFOLIO
• 2024-01-12 Rental Removed $800 APPFOLIO
• 2024-01-12 Listed for Rent $800 APPFOLIO
• 2023-08-17 Rental Removed $496 APPFOLIO
• 2023-08-06 Listed for Rent $496 APPFOLIO
• 2023-08-05 Rental Removed $495 APPFOLIO
• 2023-08-01 Price Changed $495 APPFOLIO
• 2022-11-07 Sold (Public Records) — Public Records
• 2022-10-31 Sold (MLS) — FHAOR as distributed by MLS GRID
• 2022-09-19 Pending — FHAOR as distributed by MLS GRID
• 2022-09-06 Listed $200,000 FHAOR as distributed by MLS GRID
• 2021-11-04 Sold (Public Records) — Public Records
• 2021-11-01 Sold (MLS) — FHAOR as distributed by MLS GRID
• 2021-07-20 Listed $185,000 FHAOR as distributed by MLS GRID

Property tax history

+2.1%/yr

Latest (2025): $3,367 · +16.9% YoY. Source: county tax records.