119 E 3rd St · Mulberry, KS 66756

$79,000

2 bd · 2.0 ba · 1,392 sqft · SingleFamily public records · 14 Days on market

Built 1920 0.33 ac lot Est $74k · 7% over

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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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Appreciation +7.0/10.0
• ARV discount +4.3/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Key facts

• 0.33 acre lot
• 2 garage spots
• Built 1920

Property features AI

Finance

• Other: Living area reported as 1,392 (assessor source); Lot size source: assessor
• HOA & community: No association fees

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Bungalow; One-story (above-grade living area reported)
• Construction: Frame construction; Composition roof; Property is over 100 years old
• Exterior features: Not in a flood plain; Lot approximately 14,200 square feet

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Electric cooling (air conditioning)
• Interior features: Bungalow floor plan; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).

Location & tenants

• Location reads 64/100 on livability (#315 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools F, crime 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: 6 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 $4k of equity ($546 loan paydown + $3k appreciation (4.0% local appreciation)).
• At projected returns (4.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $79,000

Questions for the listing agent

1. Built in 1920 — 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. 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.
6. 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.
7. 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: 1.33% ✓
• Cap rate: 11.40%
• Cash-on-cash: 18.25%
• DSCR: 1.81
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $73,776
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 N Military St	0.08mi	2/1.0	1,288 (-8%)	1mo	$95,000	$74	79
205 E 2nd St	0.08mi	3/2.0 (+1)	1,512 (+9%)	15mo	$80,000	$53	64
110 N Kansas St	0.19mi	3/2.0 (+1)	1,216 (-13%)	11mo	$21,900	$18	56
202 W Alfred St	0.28mi	2/2.0	1,598 (+15%)	20mo	$159,900	$100	46
108 S Oak St	0.53mi	3/2.0 (+1)	1,248 (-10%)	10mo	$9,000	$7	44

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

Projected returns pro-forma

3.99% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.7%
• Equity multiple: 2.59×
• Total profit: $35,164
• Equity at exit: $40,025

10-year hold

• IRR: 26.5%
• Equity multiple: 5.07×
• Total profit: $90,123
• Equity at exit: $65,440

Cash invested: $22,120 (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 66756

• Home prices YoY: 2.7%
• Active inventory: 6
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,051 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$46 /mo · $557/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $336

Break-even live

Break-even rent $625

Max offer price $79,000

Occupancy floor 63%

Sensitivity live

Price	-10% $381	-5% $359	+0% $336	+5% $314	+10% $292
Rent	-10% $253	-5% $295	+0% $336	+5% $378	+10% $419
Rate	-1.0pp $376	-0.5pp $357	base $336	+0.5pp $316	+1.0pp $295

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   status $79,000 Pending 14 DOM
2. 2026-06-18
   days on market $79,000 Active 14 DOM
3. 2026-06-17
   days on market $79,000 Active 13 DOM
4. 2026-06-16
   days on market $79,000 Active 12 DOM
5. 2026-06-15
   days on market $79,000 Active 11 DOM
6. 2026-06-14
   days on market $79,000 Active 9 DOM
7. 2026-06-12
   days on market $79,000 Active 8 DOM
8. 2026-06-09
   days on market $79,000 Active 5 DOM
9. 2026-06-08
   days on market $79,000 Active 4 DOM
10. 2026-06-07
    days on market $79,000 Active 3 DOM
11. 2026-06-05
    listed $79,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast KS · Resets to sale price

• Current annual tax: $557 · $46/mo
• Projected year-2 tax: $1,114 · $93/mo
• Expected delta: +$557/yr (+$46/mo · 100.0%)

ⓘ 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: $12,609
• − Mortgage interest: −$4,425
• − Property taxes: −$557
• − Insurance: −$395
• − Repairs & maintenance: −$1,009
• − Management: −$1,009
• − Depreciation: −$2,298
• Taxable income: $2,916
• Est. tax owed @ 24.0%: −$700
• After-tax cash flow: $3,338/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 — Mulberry

• Score: 64/100
• State rank: #315
• US rank: #14324

Category grades

Amenities F 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: Mulberry, KS
• Population (ZIP): 1,137

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 (96%)
• Race & ethnicity: White 96% Two or more races 2% Native American 2%
• Common ancestry: Slovak 4% Iranian 3% Serbian 1%

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: ▲ 3.99%
• Current HPI: 150.142
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-04 Listed $79,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+1.8%/yr

Latest (2025): $557 · +5.4% YoY. Source: county tax records.