408 S Joplin St · Pittsburg, KS 66762

$105,000

3 bd · 1.0 ba · 1,141 sqft · SingleFamily public records · 6 Days on market

Built 1920 8,500 sqft lot Est $127k · 17% under ↓ 12% since listing

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Why this score? — see what drove the C+ 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 +22.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.3/10.0
• Rent growth +5.0/5.0
• Livability +3.3/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Spacious kitchen
• Updated bathroom
• Conveniently located

Tags

• UPDATED BATHROOM
• SPACIOUS KITCHEN
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Cap rate 8.3% vs local median 5.4% in Pittsburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#270 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A; Watch: schools D, crime F, amenities F.
• Pittsburg (town): math 29% / reading 31% proficiency, ranked #111 of 169 in KS (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+13.8%/yr); 139 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% of comp listings sitting > 30 days — soft ceiling on asking rent; 65 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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.

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 $105,000

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 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?
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: 1.03% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.06%
• DSCR: 1.31
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $126,651
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 S Joplin St	0.00mi	3/1.0	1,141 (0%)	1mo	$105,000	$92	99
313 E Park St	0.09mi	3/2.0	1,102 (-3%)	1mo	$167,500	$152	85
211 E Adams St	0.24mi	3/2.0	1,116 (-2%)	6mo	$105,000	$94	76
310 E Park St	0.12mi	3/2.0	1,215 (+6%)	6mo	$150,000	$123	75
307 E Adams St	0.22mi	3/2.0	1,188 (+4%)	6mo	$85,000	$72	74
511 E Washington St	0.25mi	3/2.0	1,040 (-9%)	4mo	$145,000	$139	67
306 E Adams St	0.25mi	2/2.0 (-1)	1,018 (-11%)	4mo	$159,900	$157	58
406 E 8th St	0.70mi	2/1.0 (-1)	1,131 (-1%)	5mo	$79,900	$71	57
409 E 8th St	0.73mi	3/1.0	1,088 (-5%)	5mo	$115,000	$106	54
1418 S Joplin St	0.71mi	3/1.0	1,040 (-9%)	2mo	$59,900	$58	51
603 W 2nd N/A	0.73mi	3/2.0	1,247 (+9%)	2mo	$210,000	$168	45
207 E Belleville St	0.63mi	2/2.0 (-1)	1,256 (+10%)	3mo	$140,000	$111	42

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-289
• Equity at exit: $15,656

10-year hold

• IRR: 13.9%
• Equity multiple: 2.36×
• Total profit: $39,935
• Equity at exit: $9,078

Cash invested: $29,400 (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 66762

• Rents YoY: 13.8%
• Active inventory: 139
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,083 high
• Mortgage (P&I): −$551
• Tax from tax record: −$88 /mo · $1,058/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $173

Break-even live

Break-even rent $864

Max offer price $105,000

Occupancy floor 79%

Sensitivity live

Price	-10% $232	-5% $203	+0% $173	+5% $143	+10% $113
Rent	-10% $87	-5% $130	+0% $173	+5% $216	+10% $258
Rate	-1.0pp $226	-0.5pp $200	base $173	+0.5pp $146	+1.0pp $118

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
404 E Adams St Unit A Pittsburg, KS	2.0	1.0	750	$800	$1.07	44d	1	0.29mi
1108 S Joplin St Pittsburg, KS	2.0	1.5	850	$775	$0.91	44d	2	0.50mi
511 W 2nd St Pittsburg, KS	2.0	1.0	846	$850	$1.00	44d	1	0.66mi
719 E Madison St Apt A Pittsburg, KS	3.0	3.0	1300	$1,200	$0.92	44d	1	0.66mi
102 Creekside Way Pittsburg, KS	2.0	2.0	1450	$2,000	$1.38	44d	2	0.96mi
1902 S Broadway St Pittsburg, KS	2.0	1.0	533	$999	$1.87	21d	6	1.14mi
1019 E 15th St Pittsburg, KS	3.0	1.0	1222	$1,050	$0.86	44d	1	1.35mi

Listing history 5 events

1. 2026-04-14
   status Pending
2. 2026-04-08
   listed $105,000 Active
3. 2024-10-31
   historical
4. 2024-09-20
   listed $120,000 Active
5. 2016-07-15
   soldstatus

ⓘ 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: $1,058 · $88/mo
• Projected year-2 tax: $1,480 · $123/mo
• Expected delta: +$422/yr (+$35/mo · 39.9%)

ⓘ 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 4/10 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: $12,994
• − Mortgage interest: −$5,882
• − Property taxes: −$1,058
• − Insurance: −$525
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$3,055
• Taxable income: $396
• Est. tax owed @ 24.0%: −$95
• After-tax cash flow: $1,980/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: Pittsburg
• NCES district ID: 2010710
• Math proficiency: 29% ▼ -5.00%
• Reading proficiency: 31% ▼ -4.00%
• Median HH income: $33,608
• Composite: 24.63/100
• National rank: #7629
• State rank: #111 of 169 in KS

Livability — Pittsburg

• Score: 66/100
• State rank: #270
• US rank: #12149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsburg, KS
• County: Crawford County · 24,907 people
• City population: 24,907
• Metro: Pittsburg, KS
• Population (ZIP): 24,907
• Household income: $50,511
• Rent vs Own: 46.7% rent · 53.3% own
• Severe rent burden: 1186.0

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 10% Two or more races 5% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 6% Other Asian/Pacific 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: ▼ -171.14%
• Current HPI: 158.7878
• Rent YoY: ▲ 13.80%
• Metro: Pittsburg, KS
• State GDP YoY: —
• F500 in state: 0

Price history

-12.5% since first listed

5 events — show timeline

• 2026-04-14 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-08 Listed $105,000 Heartland MLS as Distributed by MLS Grid
• 2024-10-31 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-09-20 Listed $120,000 Heartland MLS as Distributed by MLS Grid
• 2016-07-15 Sold (Public Records) — Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,058 · +11.4% YoY. Source: county tax records.