1309 N 9th St · Independence, KS 67301

$96,900

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 4 Days on market

Built 1989 10,558 sqft lot

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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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 1989

Property features AI

Finance

• HOA & community: No association fees

Exterior

• Parking: Carport; 2-car garage
• Utilities: Public water; Public sewer
• Home design: Residential manufactured single-family residence; Attached property; 1,344 above-grade finished area
• Construction: Metal siding; Metal roof; Manufactured home (31–40 years old)
• Exterior features: Porch; Wood and other fencing; Located within city limits; Lot approximately 60 x 170 feet

Interior

• Bedrooms: 3 bedrooms (primary bedroom on the first floor)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Electric cooling (central)
• Interior features: Living/dining combo; Crawl space basement
• Laundry & utility: Laundry area located off the kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $97k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• Cap rate 9.4% vs local median 4.0% in Independence — 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 65/100 on livability (#285 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime F, amenities F, commute F.
• Independence (town): math 31% / reading 36% proficiency, ranked #76 of 169 in KS (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eisenhower Elem (391 students, 75% FRL); Independence Middle (math 25% / reading 33%, grade F, #85 of 219 statewide, top 40%, 433 students, 72% FRL) — zoned schools average 74% FRL vs 49% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 69 active listings in the ZIP; 10 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $670 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Montgomery County population projected at -28% 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 $27k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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.

Recommended offer $96,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.13% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.11%
• DSCR: 1.49
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $279
• Equity at exit: $14,448

10-year hold

• IRR: 9.9%
• Equity multiple: 1.77×
• Total profit: $20,770
• Equity at exit: $8,378

Cash invested: $27,132 (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 67301

• Active inventory: 69
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,094 medium
• Mortgage (P&I): −$508
• Tax from tax record: −$65 /mo · $777/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $251

Break-even live

Break-even rent $776

Max offer price $96,900

Occupancy floor 72%

Sensitivity live

Price	-10% $306	-5% $279	+0% $251	+5% $224	+10% $196
Rent	-10% $165	-5% $208	+0% $251	+5% $294	+10% $338
Rate	-1.0pp $300	-0.5pp $276	base $251	+0.5pp $226	+1.0pp $201

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: $24,225
• Closing costs: $2,907
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-22
   days on market $96,900 Active 4 DOM
2. 2026-06-21
   days on market $96,900 Active 3 DOM
3. 2026-06-21
   pricestatusdays on market $96,900 Active 2 DOM
4. 2026-05-07
   status Pending
5. 2026-05-05
   listed $94,900 Active
6. 2025-04-14
   soldstatus
7. 2022-05-04
   soldstatus
8. 2017-09-26
   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: $777 · $65/mo
• Projected year-2 tax: $1,366 · $114/mo
• Expected delta: +$590/yr (+$49/mo · 75.9%)

ⓘ 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 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥109°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,131
• − Mortgage interest: −$5,428
• − Property taxes: −$777
• − Insurance: −$484
• − Repairs & maintenance: −$1,050
• − Management: −$1,050
• − Depreciation: −$2,819
• Taxable income: $1,522
• Est. tax owed @ 24.0%: −$365
• After-tax cash flow: $2,649/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: Independence
• NCES district ID: 2007650
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 36% ▲ 1.00%
• Median HH income: $43,327
• Composite: 28.45/100
• National rank: #6750
• State rank: #76 of 169 in KS

Livability — Independence

• Score: 65/100
• State rank: #285
• US rank: #12779

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, KS
• Population (ZIP): 12,996

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 29,729 people
• By 2030: 27,786 · -6.5%
• By 2040: 24,201 · -18.6%
• By 2050: 21,280 · -28.4%
• By 2075: 16,754 · -43.6%
• By 2100: 14,088 · -52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 10% Hispanic / Latino 6% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+51.1) · D 23.6% · R 74.7% · Other 1.8%
• 2008→2024 swing: -15.3pp toward R · 2008: -35.8pp · 2024: -51.1pp
• All cycles: 2024: R+51.1 2020: R+50.2 2016: R+50.8 2012: R+41.4 2008: R+35.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.85%
• Current HPI: 126.8212
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

5 events — show timeline

• 2026-05-07 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-05 Listed $94,900 Heartland MLS as Distributed by MLS Grid
• 2025-04-14 Sold (Public Records) — Public Records
• 2022-05-04 Sold (Public Records) — Public Records
• 2017-09-26 Sold (Public Records) — Public Records

Property tax history

-4.1%/yr

Latest (2025): $777 · -1.7% YoY. Source: county tax records.