202 W Perry St · Arma, KS 66712

$59,000

3 bd · 2.0 ba · 684 sqft · Manufactured public records · 466 Days on market

Built 1967 0.34 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Key facts

• 0.34 acre lot
• 2 garage spots
• Built 1967

Property features AI

Finance

• Other: Lot size approximately 14,947 square feet; Road maintained by public maintenance
• HOA & community: No association fees

Exterior

• Parking: Detached carport; Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Manufactured single-family residence; Single-story/main-level living; Located inside city limits
• Construction: Metal siding; Vinyl siding; Other roof material; Estimated 51–75 years old
• Exterior features: Covered patio; Front porch; Paved road access; Corner lot location

Interior

• Kitchen: Refrigerator; Gas range; Vinyl in the kitchen
• Bedrooms: 3 bedrooms — all on the main level
• Flooring: Carpet; Tile; Vinyl; Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heat; Electric cooling (central)
• Interior features: Crawl space basement; Open family room; Additional flexible room (other)
• Laundry & utility: Utility room on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $59k.

Deal economics

• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($917 rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#208 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Northeast (rural): math 18% / reading 22% proficiency, ranked #159 of 169 in KS (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 14 active listings in the ZIP; 65 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $221 of equity ($408 loan paydown + $-187 appreciation (-0.3% local appreciation)).
• At projected returns (-0.3% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 466 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $37k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $59k implies a 195% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 466 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.55% ✓
• Cap rate: 13.67%
• Cash-on-cash: 26.35%
• DSCR: 2.17
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.32% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.0%
• Equity multiple: 2.24×
• Total profit: $20,492
• Equity at exit: $16,201

10-year hold

• IRR: 30.2%
• Equity multiple: 4.29×
• Total profit: $54,305
• Equity at exit: $18,747

Cash invested: $16,520 (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 66712

• Home prices YoY: -0.2%
• Active inventory: 14
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $917 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$27 /mo · $330/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $363

Break-even live

Break-even rent $458

Max offer price $59,000

Occupancy floor 55%

Sensitivity live

Price	-10% $396	-5% $380	+0% $363	+5% $346	+10% $329
Rent	-10% $290	-5% $327	+0% $363	+5% $399	+10% $435
Rate	-1.0pp $393	-0.5pp $378	base $363	+0.5pp $348	+1.0pp $332

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   status $59,000 Pending 466 DOM
2. 2026-06-17
   days on market $59,000 Active 466 DOM
3. 2026-06-16
   days on market $59,000 Active 465 DOM
4. 2026-06-15
   days on market $59,000 Active 464 DOM
5. 2026-06-14
   days on market $59,000 Active 462 DOM
6. 2026-06-12
   days on market $59,000 Active 461 DOM
7. 2026-06-09
   days on market $59,000 Active 458 DOM
8. 2026-06-08
   days on market $59,000 Active 457 DOM
9. 2026-06-07
   days on market $59,000 Active 456 DOM
10. 2026-06-05
    days on market $59,000 Active 454 DOM
11. 2026-06-03
    days on market $59,000 Active 452 DOM
12. 2026-06-02
    days on market $59,000 Active 451 DOM
13. 2026-06-01
    days on market $59,000 Active 450 DOM
14. 2026-05-31
    days on market $59,000 Active 449 DOM
15. 2026-05-30
    days on market $59,000 Active 448 DOM
16. 2026-03-09
    status Active
17. 2026-03-09
    price $59,000
18. 2026-01-30
    historical
19. 2025-08-20
    price $69,000
20. 2025-06-24
    price $79,000
21. 2025-03-31
    price $86,000
22. 2025-01-29
    listed $96,000 Active
23. 1985-03-01
    soldstatus $20,000

ⓘ 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: $330 · $27/mo
• Projected year-2 tax: $832 · $69/mo
• Expected delta: +$502/yr (+$42/mo · 152.2%)

ⓘ 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 ≥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: $11,002
• − Mortgage interest: −$3,305
• − Property taxes: −$330
• − Insurance: −$295
• − Repairs & maintenance: −$880
• − Management: −$880
• − Depreciation: −$1,716
• Taxable income: $3,595
• Est. tax owed @ 24.0%: −$863
• After-tax cash flow: $3,491/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: Northeast
• NCES district ID: 2003480
• Math proficiency: 18% ▼ -10.00%
• Reading proficiency: 22% ▼ -2.00%
• Median HH income: $35,724
• Composite: 16.53/100
• National rank: #9180
• State rank: #159 of 169 in KS

Livability — Arma

• Score: 68/100
• State rank: #208
• US rank: #9327

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Arma, KS
• Population (ZIP): 1,471

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 39,393 people
• By 2030: 39,540 · +0.4%
• By 2040: 39,452 · +0.1%
• By 2050: 39,188 · -0.5%
• By 2075: 39,038 · -0.9%
• By 2100: 38,219 · -3.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Lithuanian 6% Danish 2% Iranian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Crawford

• 2024 margin: Strong R (+25.3) · D 36.5% · R 61.7% · Other 1.8%
• 2008→2024 swing: -26.7pp toward R · 2008: 1.4pp · 2024: -25.3pp
• All cycles: 2024: R+25.3 2020: R+23.1 2016: R+23.1 2012: R+6.5 2008: D+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.32%
• Current HPI: 154.0525
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+195.0% since first listed

8 events — show timeline

• 2026-03-09 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-03-09 Price Changed $59,000 Heartland MLS as Distributed by MLS Grid
• 2026-01-30 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-08-20 Price Changed $69,000 Heartland MLS as Distributed by MLS Grid
• 2025-06-24 Price Changed $79,000 Heartland MLS as Distributed by MLS Grid
• 2025-03-31 Price Changed $86,000 Heartland MLS as Distributed by MLS Grid
• 2025-01-29 Listed $96,000 Heartland MLS as Distributed by MLS Grid
• 1985-03-01 Sold (Public Records) $20,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $330 · +11.7% YoY. Source: county tax records.