105 E Mulberry St. St · Hill City, KS 67642

$125,000

4 bd · 2.0 ba · 1,288 sqft · SingleFamily public records · 73 Days on market

Built 1952 9,380 sqft 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 +14.4/30.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• 1% rule +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Key facts

• Large backyard
• Main floor laundry
• New water heater

Tags

• MAIN FLOOR LAUNDRY
• KITCHEN DINING COMBO
• ENERGY EFFICIENT IMPROVEMENTS
• NEW WATER HEATER
• CENTRAL AC HEAT
• LARGE BACKYARD

Property features AI

Finance

• Other: Lot approximately 67 x 140; Zoned: Other

Exterior

• Utilities: Public water; Public sewer; Cable available; Natural gas available
• Home design: Residential property
• Construction: Composition roof; Concrete basement
• Exterior features: Covered patio/porch; Fenced yard

Interior

• Kitchen: Dishwasher; Disposal; Range / Oven; Refrigerator; Water softener
• Bedrooms: 2 main-level bedrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Window coverings
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $25 ($296/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (10.0% below list).
• Recommended offer: $112k (10.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#172 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Graham County (rural): math 18% / reading 27% proficiency, ranked #251 of 280 in KS (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 6 active listings in the ZIP.

Forward outlook

• In year one you build about $9k of equity ($864 loan paydown + $8k appreciation (6.8% local appreciation)).
• Graham County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.8% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, 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 73 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $33k; list at $125k implies a 279% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,475 (10.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — 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 D-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. 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?
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: 0.90% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.85%
• DSCR: 1.04
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.77% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 2.24×
• Total profit: $43,454
• Equity at exit: $84,722

10-year hold

• IRR: 17.2%
• Equity multiple: 4.58×
• Total profit: $125,370
• Equity at exit: $159,242

Cash invested: $35,000 (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 67642

• Home prices YoY: 3.6%
• Active inventory: 6
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,125 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $25

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 93%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-22
   status Pending
2. 2026-04-24
   historical Active Under Contract
3. 2026-03-09
   listed $125,000 Active
4. 2004-07-01
   soldstatus $33,000
5. 2004-07-01
   soldstatus $33,000
6. 1986-06-01
   soldstatus $25,000
7. 1986-06-01
   soldstatus $25,000

ⓘ 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 4/10 Moderate 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,497
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,080
• − Management: −$1,080
• − Depreciation: −$3,636
• Taxable loss: −$1,801
• Est. tax savings @ 24.0%: +$432
• After-tax cash flow: $729/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: Graham County
• NCES district ID: 2007260
• Math proficiency: 18% ▲ 3.00%
• Reading proficiency: 27% ▲ 6.00%
• Median HH income: $42,902
• Composite: 22.43/100
• National rank: #13471
• State rank: #251 of 280 in KS

Livability — Hill City

• Score: 70/100
• State rank: #172
• US rank: #8068

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hill City, KS
• City population: 1,779
• Population (ZIP): 1,779

Population outlook (Graham County) Hauer SSP2

• Today (2025): 2,510 people
• By 2030: 2,458 · -2.1%
• By 2040: 2,399 · -4.4%
• By 2050: 2,403 · -4.3%
• By 2075: 2,658 · +5.9%
• By 2100: 2,880 · +14.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Black 2% Asian 2%
• Common ancestry: Lithuanian 6% Serbian 3% Iranian 2%
• Foreign-born: 1% · Vietnam
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Graham

• 2024 margin: Solid R (+65.7) · D 16.3% · R 82.0% · Other 1.7%
• 2008→2024 swing: -14.0pp toward R · 2008: -51.6pp · 2024: -65.7pp
• All cycles: 2024: R+65.7 2020: R+63.8 2016: R+65.5 2012: R+60.4 2008: R+51.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.77%
• Current HPI: 193.775
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+400.0% since first listed

7 events — show timeline

• 2026-05-22 Pending — Hays MLS
• 2026-04-24 Contingent — Hays MLS
• 2026-03-09 Listed $125,000 Hays MLS
• 2004-07-01 Sold (Public Records) $33,000 Public Records
• 2004-07-01 Sold (Public Records) $33,000 Public Records
• 1986-06-01 Sold (Public Records) $25,000 Public Records
• 1986-06-01 Sold (Public Records) $25,000 Public Records