1101 N Mayfield Rd

Hutchinson, KS 67501

$67,500B-

3 bd · 1.0 ba · 1,369 sqft · Built 1897 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $944/mo
• Mortgage (P&I): −$354
• Tax + insurance: −$146
• HOA: −$0
• Vac / Maint / Mgmt: −$198
• Net cashflow: $245/mo
• Annual: $2,946/yr
• Cap rate: 10.66%
• Cash-on-cash: 15.59%
• DSCR: 1.69
• 1% rule: 1.40%
• Cash to close: $18,900

Investor read

• This is a 3-bed/1.0-bath single-family listed at $68k.
• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($944 rent vs $68k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $467 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#199 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime D+, employment D+, amenities F.
• Buhler (rural): math 30% / reading 41% proficiency, ranked #52 of 169 in KS (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Union Valley Elem (math 42% / reading 52%, grade D-, #200 of 684 statewide, top 33%, 452 students, 41% FRL); Prairie Hills Middle (math 21% / reading 34%, grade F, #91 of 219 statewide, top 42%, 550 students, 35% FRL); Buhler High (math 22% / reading 27%, grade F, #105 of 327 statewide, top 49%, 653 students, 29% FRL).
• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.5%/yr); 68 active listings in the ZIP; 40 units permitted in Reno County in 2024 (0 in 5+ unit buildings).
• Reno County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $37k; list at $68k implies a 82% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $19k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 D 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.