701 Kansas

Fowler, KS 67844

$80,000B

3 bd · 2.0 ba · 2,040 sqft · Built 1996 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,202/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$182
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $348/mo
• Annual: $4,181/yr
• Cap rate: 11.52%
• Cash-on-cash: 18.66%
• DSCR: 1.83
• 1% rule: 1.50%
• Cash to close: $22,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-1.8%/yr); year-one equity from $553 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#369 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: schools D-, crime F, amenities F.
• Fowler (rural): math 30% / reading 25% proficiency, ranked #194 of 280 in KS (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 9 active listings in the ZIP; 5 units permitted in Meade County in 2024 (0 in 5+ unit buildings).
• Meade County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 18y 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 $58k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-1.8% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.