104 N Porter St · Garfield, KS 67529

$35,000

3 bd · 1.0 ba · 1,224 sqft · SingleFamily public records · 81 Days on market

Built 1924 1,224 sqft 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 +5.0/10.0
• Schools +3.2/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Large storage area
• Large corner lot
• Water softener

Tags

• LARGE CORNER LOT
• LARGE STORAGE AREA
• OPEN KITCHEN
• ATTACHED ONE CAR GARAGE
• PRIVATE WATER WELL
• WATER SOFTENER

Property features AI

Exterior

• Utilities: Private well water; Septic tank sewer
• Home design: Single-story residential property
• Construction: Asbestos construction material
• Exterior features: Lot is approximately 0.44 acres; Zoned NC.1 / R-1

Interior

• Bedrooms: One main-level bedroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $583 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 54/100 on livability (#583 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, schools F, crime F.
• Ft Larned (town): math 32% / reading 43% proficiency, ranked #49 of 169 in KS (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP.

Forward outlook

• In year one you build about $1k of equity ($242 loan paydown + $1k appreciation (3.0% local appreciation)).
• Pawnee County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $35k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $32,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — 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. 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?
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 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: 2.98% ✓
• Cap rate: 26.28%
• Cash-on-cash: 71.39%
• DSCR: 4.18
• GRM: 2.8

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: 76.0%
• Equity multiple: 5.22×
• Total profit: $41,364
• Equity at exit: $15,738

10-year hold

• IRR: 75.5%
• Equity multiple: 10.72×
• Total profit: $95,239
• Equity at exit: $24,253

Cash invested: $9,800 (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 67529

• Active inventory: 3
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,044 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $583

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 39%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $35,000 Active 81 DOM
2. 2026-06-17
   days on market $35,000 Active 80 DOM
3. 2026-06-16
   days on market $35,000 Active 79 DOM
4. 2026-06-15
   days on market $35,000 Active 78 DOM
5. 2026-06-13
   days on market $35,000 Active 76 DOM
6. 2026-06-12
   days on market $35,000 Active 75 DOM
7. 2026-06-09
   days on market $35,000 Active 72 DOM
8. 2026-06-08
   days on market $35,000 Active 71 DOM
9. 2026-06-07
   days on market $35,000 Active 70 DOM
10. 2026-06-05
    days on market $35,000 Active 68 DOM
11. 2026-06-04
    days on market $35,000 Active 66 DOM
12. 2026-06-02
    days on market $35,000 Active 65 DOM
13. 2026-06-01
    days on market $35,000 Active 64 DOM
14. 2026-05-31
    days on market $35,000 Active 63 DOM
15. 2026-05-31
    days on market $35,000 Active 62 DOM
16. 2026-05-22
    price $35,000
17. 2026-02-16
    listed $45,900 Active
18. 2003-06-01
    soldstatus $20,000
19. 2002-08-01
    soldstatus $18,000
20. 1995-12-01
    soldstatus $18,000

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,530
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,002
• − Management: −$1,002
• − Depreciation: −$1,018
• Taxable income: $6,846
• Est. tax owed @ 24.0%: −$1,643
• After-tax cash flow: $5,353/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: Ft Larned
• NCES district ID: 2008370
• Math proficiency: 32% ▬ 0.00%
• Reading proficiency: 43% ▲ 8.00%
• Median HH income: $42,806
• Composite: 31.69/100
• National rank: #5919
• State rank: #49 of 169 in KS

Livability — Garfield

• Score: 54/100
• State rank: #583
• US rank: #23938

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garfield, KS
• Population (ZIP): 336

Population outlook (Pawnee County) Hauer SSP2

• Today (2025): 6,800 people
• By 2030: 6,739 · -0.9%
• By 2040: 6,627 · -2.5%
• By 2050: 6,477 · -4.8%
• By 2075: 6,369 · -6.3%
• By 2100: 6,266 · -7.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 18% Hispanic / Latino 15%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Lithuanian 6% Danish 3% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Pawnee

• 2024 margin: Solid R (+51.5) · D 23.4% · R 74.9% · Other 1.8%
• 2008→2024 swing: -14.4pp toward R · 2008: -37.1pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+51.4 2016: R+50.1 2012: R+43.0 2008: R+37.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+94.4% since first listed

5 events — show timeline

• 2026-05-22 Price Changed $35,000 Hays MLS
• 2026-02-16 Listed $45,900 Hays MLS
• 2003-06-01 Sold (Public Records) $20,000 Public Records
• 2002-08-01 Sold (Public Records) $18,000 Public Records
• 1995-12-01 Sold (Public Records) $18,000 Public Records