403 Elm St · Burden, KS 67019

$74,900

2 bd · 1.0 ba · 972 sqft · SingleFamily public records · 323 Days on market

Built 1930 0.33 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 +25.2/30.0
• DSCR +8.2/10.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Spacious yard
• Attached carport
• Updated kitchen

Tags

• ORIGINAL HARDWOOD FLOORS
• UPDATED KITCHEN
• UPDATED BATHROOM
• SPACIOUS YARD
• DETACHED GARAGE
• ATTACHED CARPORT

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Sewer available; Natural gas available
• Home design: Single-family onsite built
• Construction: No basement; No foundation details listed
• Exterior features: One-level home; Composition roof

Interior

• Kitchen: Refrigerator; Range
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning (electric); Forced air heating (natural gas)
• Interior features: Refrigerator; Range
• Laundry & utility: Main-floor laundry; 220-volt outlet/equipment available

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($867 rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#288 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Central (rural): math 25% / reading 30% proficiency, ranked #199 of 280 in KS (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Central Elem (math 32% / reading 42%, grade F, #358 of 684 statewide, top 56%, 157 students, 57% FRL); Central Jr-Sr High (math 17% / reading 17%, grade F, #235 of 327 statewide, top 74%, 136 students, 63% FRL) — zoned schools average 60% FRL vs 45% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 6 active listings in the ZIP; 41 units permitted in Cowley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($518 loan paydown + $5k appreciation (6.3% local appreciation)).
• Cowley County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 323 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $28k; list at $75k implies a 172% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 323 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 1930 — 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: 1.16% ✓
• Cap rate: 8.97%
• Cash-on-cash: 9.55%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.29% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.9%
• Equity multiple: 2.60×
• Total profit: $33,558
• Equity at exit: $48,459

10-year hold

• IRR: 22.4%
• Equity multiple: 5.30×
• Total profit: $90,093
• Equity at exit: $89,089

Cash invested: $20,972 (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 67019

• Home prices YoY: 2.6%
• Active inventory: 6
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $867 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$94 /mo · $1,132/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $167

Break-even live

Break-even rent $656

Max offer price $74,900

Occupancy floor 76%

Sensitivity live

Price	-10% $209	-5% $188	+0% $167	+5% $146	+10% $124
Rent	-10% $98	-5% $133	+0% $167	+5% $201	+10% $235
Rate	-1.0pp $205	-0.5pp $186	base $167	+0.5pp $147	+1.0pp $128

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $74,900 Active 323 DOM
2. 2026-06-18
   days on market $74,900 Active 321 DOM
3. 2026-06-17
   days on market $74,900 Active 320 DOM
4. 2026-06-16
   days on market $74,900 Active 319 DOM
5. 2026-06-15
   days on market $74,900 Active 318 DOM
6. 2026-06-13
   days on market $74,900 Active 316 DOM
7. 2026-06-12
   days on market $74,900 Active 315 DOM
8. 2026-06-09
   days on market $74,900 Active 312 DOM
9. 2026-06-08
   days on market $74,900 Active 311 DOM
10. 2026-06-07
    days on market $74,900 Active 310 DOM
11. 2026-06-05
    days on market $74,900 Active 308 DOM
12. 2026-06-04
    days on market $74,900 Active 306 DOM
13. 2026-06-02
    days on market $74,900 Active 305 DOM
14. 2026-06-01
    days on market $74,900 Active 304 DOM
15. 2026-05-31
    days on market $74,900 Active 303 DOM
16. 2026-05-31
    days on market $74,900 Active 302 DOM
17. 2025-08-01
    listed $74,900 Active
18. 2022-12-20
    status Pending
19. 2022-11-17
    listed $49,900 Active
20. 2019-09-25
    listed $39,900
21. 2004-12-01
    soldstatus $27,500
22. 1995-06-01
    soldstatus $11,600

ⓘ 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: $1,132 · $94/mo
• Projected year-2 tax: $1,132 · $94/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,407
• − Mortgage interest: −$4,196
• − Property taxes: −$1,132
• − Insurance: −$374
• − Repairs & maintenance: −$833
• − Management: −$833
• − Depreciation: −$2,179
• Taxable income: $862
• Est. tax owed @ 24.0%: −$207
• After-tax cash flow: $1,796/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: Central
• NCES district ID: 2004230
• Math proficiency: 25% ▬ 0.00%
• Reading proficiency: 30% ▬ 0.00%
• Median HH income: $44,136
• Composite: 26.5/100
• National rank: #12630
• State rank: #199 of 280 in KS

Livability — Burden

• Score: 65/100
• State rank: #288
• US rank: #12882

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burden, KS
• Population (ZIP): 962

Population outlook (Cowley County) Hauer SSP2

• Today (2025): 34,984 people
• By 2030: 34,410 · -1.6%
• By 2040: 33,265 · -4.9%
• By 2050: 32,421 · -7.3%
• By 2075: 31,488 · -10.0%
• By 2100: 30,276 · -13.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6% Hispanic / Latino 1%
• Common ancestry: Slovak 3% Iranian 2% Lithuanian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Cowley

• 2024 margin: Solid R (+40.3) · D 29.0% · R 69.3% · Other 1.7%
• 2008→2024 swing: -15.1pp toward R · 2008: -25.2pp · 2024: -40.3pp
• All cycles: 2024: R+40.3 2020: R+37.9 2016: R+37.6 2012: R+29.8 2008: R+25.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.29%
• Current HPI: 249.899
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+545.7% since first listed

6 events — show timeline

• 2025-08-01 Listed $74,900 SCKMLS as Distributed by MLS Grid
• 2022-12-20 Pending — SCKMLS as Distributed by MLS Grid
• 2022-11-17 Listed $49,900 SCKMLS as Distributed by MLS Grid
• 2019-09-25 Listed $39,900 SCKMLS as Distributed by MLS Grid
• 2004-12-01 Sold (Public Records) $27,500 Public Records
• 1995-06-01 Sold (Public Records) $11,600 Public Records

Property tax history

+3.9%/yr

Latest (2025): $1,132 · +8.4% YoY. Source: county tax records.