23 N Washington St · Fort Scott, KS 66701

$58,500

4 bd · 1.5 ba · 1,728 sqft · SingleFamily public records · 39 Days on market

Built 1940 0.49 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Room sizes are approximate & some rooms may be irregular in size. 4 BR home on large corner lot. Sold "AS IS" and "Where Is" with no warranties Expressed or Implied. Lockbox code in private remarks.

Key facts

• Large corner lot
• Central heat and air
• Bonus room

Tags

• LARGE CORNER LOT
• CENTRAL HEAT AND AIR
• NEW SPLIT UNIT
• BONUS ROOM

Property features AI

Finance

• Other: Inside city limits
• HOA & community: No association (no HOA fees)

Exterior

• Parking: Carport; Covered parking; Off-street parking
• Utilities: Public water; Public sewer; Cable available; Fiber available; High-speed internet available
• Home design: Single-family residence; Ranch floor plan; Faces west
• Construction: Board & batten siding; Composition roof; Home is 76–100 years old; Above-grade living area reported as 1,728
• Exterior features: Corner lot; Paved road with public maintenance; Not in a flood plain

Interior

• Kitchen: Electric range; Kitchen floor finished in vinyl
• Bedrooms: 3 bedrooms (all on main level); Primary bedroom has carpet, cedar closet and walk-in closet; Second bedroom with carpet and walk-in closet; Third bedroom on main level
• Flooring: Carpet; Laminate; Vinyl; Ceramic tile (laundry)
• Bathrooms: 2 full bathrooms; One bath with shower only; One bath with shower over tub
• Heating & cooling: Forced air heating; Electric cooling (has cooling), additional cooling type listed as other
• Interior features: Breakfast area; Crawl space basement
• Laundry & utility: Main level laundry with ceramic tile flooring

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $652 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Recommended offer: $57k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.7% vs local median 5.0% in Fort Scott — 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 (#259 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F, employment F.
• Fort Scott (town): math 19% / reading 28% proficiency, ranked #150 of 169 in KS (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Fort Scott Sr High (math 12% / reading 17%, grade F, #267 of 327 statewide, top 84%, 581 students, 47% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 71 active listings in the ZIP; 5 units permitted in Bourbon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $404 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Bourbon County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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 $58k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $56,745 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.19% ✓
• Cap rate: 19.68%
• Cash-on-cash: 47.80%
• DSCR: 3.13
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $136,512
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 S Andrick St	0.20mi	5/3.0 (+1)	1,768 (+2%)	1mo	$95,000	$54	75
124 S Margrave St	0.45mi	4/2.0	1,776 (+3%)	1mo	$140,000	$79	71
223 S Hill St	0.52mi	4/2.0	1,963 (+14%)	6mo	$160,000	$82	47
123 Mccleverty St	0.63mi	3/2.0 (-1)	1,898 (+10%)	17mo	$145,000	$76	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 45.2%
• Equity multiple: 2.96×
• Total profit: $32,067
• Equity at exit: $8,723

10-year hold

• IRR: 51.1%
• Equity multiple: 5.97×
• Total profit: $81,397
• Equity at exit: $5,058

Cash invested: $16,380 (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 66701

• Home prices YoY: -10.4%
• Active inventory: 71
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,280 medium
• Mortgage (P&I): −$307
• Tax from tax record: −$28 /mo · $332/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $652

Break-even live

Break-even rent $454

Max offer price $58,500

Occupancy floor 44%

Sensitivity live

Price	-10% $686	-5% $669	+0% $652	+5% $636	+10% $619
Rent	-10% $551	-5% $602	+0% $652	+5% $703	+10% $754
Rate	-1.0pp $682	-0.5pp $667	base $652	+0.5pp $637	+1.0pp $622

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: $14,625
• Closing costs: $1,755
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $58,500 Active 39 DOM
2. 2026-06-18
   days on market $58,500 Active 37 DOM
3. 2026-06-17
   days on market $58,500 Active 36 DOM
4. 2026-06-16
   days on market $58,500 Active 35 DOM
5. 2026-06-15
   days on market $58,500 Active 34 DOM
6. 2026-06-13
   days on market $58,500 Active 32 DOM
7. 2026-06-12
   days on market $58,500 Active 31 DOM
8. 2026-06-09
   days on market $58,500 Active 28 DOM
9. 2026-06-08
   days on market $58,500 Active 27 DOM
10. 2026-06-07
    days on market $58,500 Active 26 DOM
11. 2026-06-07
    days on market $58,500 Active 25 DOM
12. 2026-06-04
    status $58,500 Active 22 DOM
13. 2026-05-12
    status Pending
14. 2026-05-07
    historical Active Under Contract
15. 2026-04-20
    listed $58,500 Active
16. 2013-08-30
    soldstatus 224-char remark

    Show marketing remark (224 chars)

    Room sizes are approximate & some rooms may be irregular in size. 4 BR home on large corner lot. Sold "AS IS" and "Where Is" with no warranties Expressed or Implied. Lockbox code in private remarks.

17. 2012-03-28
    listed $9,900 224-char remark

    Show marketing remark (224 chars)

    Room sizes are approximate & some rooms may be irregular in size. 4 BR home on large corner lot. Sold "AS IS" and "Where Is" with no warranties Expressed or Implied. Lockbox code in private remarks.

18. 2007-09-27
    soldstatus 244-char remark

    Show marketing remark (244 chars)

    Room sizes are approximate & some rooms may be irregular in size. 4 BR home on large corner lot. New carpets and paint and lots of very nice tile work done on interior. No showing until 8-20-05. Listing agent is Transaction Broker Agent.

19. 2007-09-01
    soldstatus $28,500
20. 2005-08-09
    listed $28,500 244-char remark

    Show marketing remark (244 chars)

    Room sizes are approximate & some rooms may be irregular in size. 4 BR home on large corner lot. New carpets and paint and lots of very nice tile work done on interior. No showing until 8-20-05. Listing agent is Transaction Broker Agent.

ⓘ 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: $332 · $28/mo
• Projected year-2 tax: $825 · $69/mo
• Expected delta: +$493/yr (+$41/mo · 148.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $15,361
• − Mortgage interest: −$3,277
• − Property taxes: −$332
• − Insurance: −$292
• − Repairs & maintenance: −$1,229
• − Management: −$1,229
• − Depreciation: −$1,702
• Taxable income: $7,300
• Est. tax owed @ 24.0%: −$1,752
• After-tax cash flow: $6,077/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: Fort Scott
• NCES district ID: 2006180
• Math proficiency: 19% ▼ -3.00%
• Reading proficiency: 28% ▬ 0.00%
• Median HH income: $38,034
• Composite: 19.64/100
• National rank: #8741
• State rank: #150 of 169 in KS

Livability — Fort Scott

• Score: 66/100
• State rank: #259
• US rank: #11422

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Scott, KS
• Population (ZIP): 11,075

Population outlook (Bourbon County) Hauer SSP2

• Today (2025): 13,761 people
• By 2030: 13,139 · -4.5%
• By 2040: 11,920 · -13.4%
• By 2050: 10,892 · -20.8%
• By 2075: 8,645 · -37.2%
• By 2100: 6,751 · -50.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 3% Black 2%
• Common ancestry: Lithuanian 2% Serbian 2% Slovak 2%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1% German/W. Germanic 1%

Political lean MEDSL · Bourbon

• 2024 margin: Solid R (+54.2) · D 22.0% · R 76.1% · Other 1.9%
• 2008→2024 swing: -26.9pp toward R · 2008: -27.2pp · 2024: -54.2pp
• All cycles: 2024: R+54.2 2020: R+52.0 2016: R+50.8 2012: R+33.9 2008: R+27.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.03%
• Current HPI: 172.2531
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+105.3% since first listed

8 events — show timeline

• 2026-05-12 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-07 Contingent — Heartland MLS as Distributed by MLS Grid
• 2026-04-20 Listed $58,500 Heartland MLS as Distributed by MLS Grid
• 2013-08-30 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2012-03-28 Listed $9,900 Heartland MLS as Distributed by MLS Grid
• 2007-09-27 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2007-09-01 Sold (Public Records) $28,500 Public Records
• 2005-08-09 Listed $28,500 Heartland MLS as Distributed by MLS Grid

Property tax history

-3.9%/yr

Latest (2025): $332 · +2.8% YoY. Source: county tax records.