502 N Severy · Severy, KS 67137

$119,000

4 bd · 2.0 ba · 948 sqft · SingleFamily public records · 39 Days on market

Built 1977 0.95 ac 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 +11.7/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +3.6/10.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 0.95 acre lot
• Garage
• Built 1977

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Sewer available; Natural gas available; Public utilities
• Home design: Single-family onsite-built property
• Construction: Composition roof
• Exterior features: One-level home; Patio; Storage structure; Full foundation; View out

Interior

• Kitchen: Refrigerator; Range
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Electric cooling; Forced air heating; Natural gas heating
• Interior features: Refrigerator; Range; Washer; Dryer; Unfinished basement
• Laundry & utility: Main floor laundry in a separate room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $-35 ($-421/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (16.3% below list).
• Recommended offer: $100k (16.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 53/100 on livability (#601 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, health & safety C-, employment D.
• West Elk (rural): math 40% / reading 40% proficiency, ranked #79 of 280 in KS (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 6 active listings in the ZIP; 3 units permitted in Greenwood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($823 loan paydown + $4k appreciation (3.0% local appreciation)).
• Greenwood County population projected at -35% 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 $33k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $40k; list at $119k implies a 198% gain — meaningful room to come down on a strong offer.

Recommended offer $99,662 (16.3% 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 39 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.26%
• DSCR: 0.94
• GRM: 10.0

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: 6.3%
• Equity multiple: 1.36×
• Total profit: $12,118
• Equity at exit: $53,508

10-year hold

• IRR: 9.2%
• Equity multiple: 2.39×
• Total profit: $46,306
• Equity at exit: $82,462

Cash invested: $33,320 (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 67137

• Active inventory: 6
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $997 medium
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $-35

Break-even live

Break-even rent $1,041

Max offer price $113,928

Occupancy floor 99%

Sensitivity live

Price	-10% $47	-5% $6	+0% $-35	+5% $-76	+10% $-117
Rent	-10% $-114	-5% $-74	+0% $-35	+5% $4	+10% $44
Rate	-1.0pp $25	-0.5pp $-5	base $-35	+0.5pp $-66	+1.0pp $-97

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-05
   status Pending
2. 2026-04-22
   price $119,000
3. 2026-03-20
   listed $125,000 Active
4. 2017-12-27
   listed $75,000
5. 2016-03-28
   historical
6. 2015-08-24
   listed $88,000
7. 2015-07-31
   historical
8. 2015-01-30
   listed $89,999
9. 1998-06-01
   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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,959
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$957
• − Management: −$957
• − Depreciation: −$3,462
• Taxable loss: −$2,462
• Est. tax savings @ 24.0%: +$591
• After-tax cash flow: $170/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: West Elk
• NCES district ID: 2007500
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 40% ▲ 10.00%
• Median HH income: $36,442
• Composite: 35.63/100
• National rank: #9704
• State rank: #79 of 280 in KS

Livability — Severy

• Score: 53/100
• State rank: #601
• US rank: #24593

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Severy, KS
• Population (ZIP): 478

Population outlook (Greenwood County) Hauer SSP2

• Today (2025): 5,505 people
• By 2030: 5,103 · -7.3%
• By 2040: 4,287 · -22.1%
• By 2050: 3,576 · -35.0%
• By 2075: 2,370 · -56.9%
• By 2100: 1,459 · -73.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Native American 4% Two or more races 3%
• Common ancestry: Lithuanian 2% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Greenwood

• 2024 margin: Solid R (+61.0) · D 18.8% · R 79.7% · Other 1.5%
• 2008→2024 swing: -17.2pp toward R · 2008: -43.8pp · 2024: -61.0pp
• All cycles: 2024: R+61.0 2020: R+60.8 2016: R+59.1 2012: R+49.3 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

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

Price history

+197.5% since first listed

9 events — show timeline

• 2026-05-05 Pending — SCKMLS as Distributed by MLS Grid
• 2026-04-22 Price Changed $119,000 SCKMLS as Distributed by MLS Grid
• 2026-03-20 Listed $125,000 SCKMLS as Distributed by MLS Grid
• 2017-12-27 Listed $75,000 SCKMLS as Distributed by MLS Grid
• 2016-03-28 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2015-08-24 Listed $88,000 SCKMLS as Distributed by MLS Grid
• 2015-07-31 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2015-01-30 Listed $89,999 SCKMLS as Distributed by MLS Grid
• 1998-06-01 Sold (Public Records) $40,000 Public Records