1400 Grand Ave · Parsons, KS 67357

$20,000

4 bd · 1.0 ba · 1,882 sqft · SingleFamily public records · 3 Days on market

Built 1925 7,840 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Key facts

• Back door access
• Corner lot
• Classic front porch

Tags

• ORIGINAL WOOD FLOORING
• CLASSIC FRONT PORCH
• CORNER LOT
• DETACHED GARAGE
• BACK DOOR ACCESS

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Natural gas available; Public water; Sewer available
• Home design: Single-family onsite built
• Exterior features: One-and-one-half level layout; Cellar and crawl space foundation; Composition roof

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central electric air conditioning
• Interior features: Wood-burning fireplace (one)
• Laundry & utility: Laundry on main floor

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $852 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Cap rate 57.4% vs local median 5.0% in Parsons — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#164 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime F, commute F.
• Parsons (town): math 21% / reading 28% proficiency, ranked #143 of 169 in KS (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Garfield School (math 57% / reading 32%, grade F, #228 of 684 statewide, top 38%, 190 students, 81% FRL); Parsons Middle School (math 18% / reading 23%, grade F, #144 of 219 statewide, top 66%, 295 students, 84% FRL); Parsons Sr High (math 12% / reading 17%, grade F, #267 of 327 statewide, top 84%, 394 students, 68% FRL) — zoned schools average 78% FRL vs 60% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 45 active listings in the ZIP; 1 units permitted in Labette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $600 of value loss. Plan a longer hold.
• Labette County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $20,000

Questions for the listing agent

1. Built in 1925 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 6.27% ✓
• Cap rate: 57.44%
• Cash-on-cash: 182.67%
• DSCR: 9.13
• GRM: 1.3

CMA / ARV

• ARV (on-the-fly): $120,448
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1621 Appleton Ave	0.27mi	5/2.0 (+1)	1,877 (-0%)	4mo	$45,000	$24	74
1508 Grand Ave	0.13mi	4/1.5	1,976 (+5%)	22mo	$38,500	$19	66
620 S 15th St	0.15mi	3/1.0 (-1)	2,002 (+6%)	21mo	$139,900	$70	60
1809 Clark Ave	0.65mi	4/2.5	1,880 (-0%)	5mo	$139,900	$74	59
1625 Morgan Ave	0.25mi	4/3.0	2,025 (+8%)	16mo	$165,000	$81	54
1400 Chess Ave	0.70mi	3/2.0 (-1)	1,685 (-10%)	4mo	$55,000	$33	37
1000 Briggs Ave	0.61mi	3/2.0 (-1)	1,639 (-13%)	10mo	$105,000	$64	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 10.12×
• Total profit: $51,072
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 21.44×
• Total profit: $114,461
• Equity at exit: $1,729

Cash invested: $5,600 (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 67357

• Home prices YoY: -20.4%
• Active inventory: 45
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,254 medium
• Mortgage (P&I): −$105
• Tax est. 1.5%: −$25 /mo · $300/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $852

Break-even live

Break-even rent $175

Max offer price $20,000

Occupancy floor 27%

Sensitivity live

Price	-10% $866	-5% $859	+0% $852	+5% $846	+10% $839
Rent	-10% $753	-5% $803	+0% $852	+5% $902	+10% $952
Rate	-1.0pp $863	-0.5pp $858	base $852	+0.5pp $847	+1.0pp $842

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-21
   days on market $20,000 Active 3 DOM
2. 2026-06-21
   days on market $20,000 Active 2 DOM
3. 2026-06-18
   listed $20,000 Active 1 DOM

ⓘ 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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,048
• − Mortgage interest: −$1,120
• − Property taxes: −$300
• − Insurance: −$100
• − Repairs & maintenance: −$1,204
• − Management: −$1,204
• − Depreciation: −$582
• Taxable income: $10,538
• Est. tax owed @ 24.0%: −$2,529
• After-tax cash flow: $7,700/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: Parsons
• NCES district ID: 2010560
• Math proficiency: 21% ▼ -7.00%
• Reading proficiency: 28% ▼ -3.00%
• Median HH income: $37,868
• Composite: 20.46/100
• National rank: #8576
• State rank: #143 of 169 in KS

Livability — Parsons

• Score: 70/100
• State rank: #164
• US rank: #7726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parsons, KS
• City population: 11,786
• Population (ZIP): 11,786

Population outlook (Labette County) Hauer SSP2

• Today (2025): 19,413 people
• By 2030: 18,552 · -4.4%
• By 2040: 16,701 · -14.0%
• By 2050: 14,832 · -23.6%
• By 2075: 11,046 · -43.1%
• By 2100: 8,020 · -58.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 7% Hispanic / Latino 7% Black 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Labette

• 2024 margin: Solid R (+38.2) · D 30.1% · R 68.3% · Other 1.6%
• 2008→2024 swing: -25.3pp toward R · 2008: -12.9pp · 2024: -38.2pp
• All cycles: 2024: R+38.2 2020: R+36.0 2016: R+37.9 2012: R+20.2 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.97%
• Current HPI: 147.8259
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-62.3% since first listed

3 events — show timeline

• 2026-06-18 Listed $20,000 SCKMLS as Distributed by MLS Grid
• 2003-01-01 Sold (Public Records) $68,500 Public Records
• 2002-03-01 Sold (Public Records) $53,000 Public Records