112 W Kansas Ave

Blue Mound, KS 66010

$79,000C

2 bd · 1.0 ba · 240 sqft · Built 2022 · SingleFamily · Active · 114 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $815/mo
• Mortgage (P&I): −$414
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$171
• Net cashflow: $98/mo
• Annual: $1,178/yr
• Cap rate: 7.78%
• Cash-on-cash: 5.33%
• DSCR: 1.24
• 1% rule: 1.03%
• Cash to close: $22,120

Investor read

• This is a 2-bed/1.0-bath single-family listed at $79k.
• At list price, monthly cash flow is $98 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($815 rent vs $79k).
• It's been on market 114 days — a 9% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $72k (9.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($546 loan paydown + $8k appreciation (10.0% local appreciation)).
• Location reads 52/100 on livability (#613 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing A; Watch: health & safety C-, schools F, amenities F.
• Jayhawk (rural): math 32% / reading 30% proficiency, ranked #95 of 169 in KS (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 97 units permitted in Linn County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts since 2y ago; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $7k; list at $79k implies a 1029% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.