514 Columbia St · Council Grove, KS 66846

$119,900

3 bd · 2.0 ba · 1,927 sqft · SingleFamily public records · 108 Days on market

Built 1900 8,400 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 +16.6/30.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Tons of charm and character in this 1900 2 story home! Hardwood floors, transom windows, tall ceilings, stained glass window, beautiful staircase, solid wood doors and trim are just some of the highlights from yesteryear in this 3+ bedroom, 2 bath home with 1,927 sq. ft. Plus, updated windows on the 2nd floor, two CH/CA units and a 24x24 detached 2 car garage built in 2001. Come and see the beauty of this home for yourself!

Key facts

• Formal dining room
• Wood floors
• Wood staircase

Tags

• WOOD FLOORS
• FORMAL DINING ROOM
• WOOD STAIRCASE
• WALK-IN ATTIC
• DETACHED GARAGE
• FENCED-IN BACKYARD

Property features AI

Finance

• HOA & community: Community playground; Fitness center; Trails

Exterior

• Parking: Detached garage with garage door opener (2 car spaces)
• Utilities: Public water; Public sewer; Natural gas available; Electricity available; Cable available
• Home design: Single family residence; Two levels
• Construction: Asbestos and vinyl siding exterior; Asphalt roof; Has basement
• Exterior features: Patio; Partial fencing; Level lot; Gravel road frontage

Interior

• Kitchen: Dishwasher; Disposal; Oven; Range
• Bedrooms: One bedroom on the main level
• Flooring: Wood; Carpet; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas forced air heating; Central air conditioning; Ceiling fans
• Interior features: Partially finished basement with sump pump; Dishwasher; Disposal; Oven; Range

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $72 ($869/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (4.9% below list).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#22 in KS, #2,091 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, employment C-, commute F.
• Morris County (rural): math 39% / reading 41% proficiency, ranked #34 of 169 in KS (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Council Grove Elementary School (math 37% / reading 47%, grade F, #273 of 684 statewide, top 45%, 352 students, 56% FRL); Council Grove Junior Senior High School (math 37% / reading 32%, grade F, #32 of 327 statewide, top 13%, 350 students, 50% FRL) — zoned schools average 53% FRL vs 35% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 26 active listings in the ZIP; 1 units permitted in Morris County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($829 loan paydown + $6k appreciation (5.1% local appreciation)).
• Morris County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $120k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.95% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.59%
• DSCR: 1.12
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.4%
• Equity multiple: 1.99×
• Total profit: $33,133
• Equity at exit: $68,868

10-year hold

• IRR: 15.8%
• Equity multiple: 3.85×
• Total profit: $95,828
• Equity at exit: $119,625

Cash invested: $33,572 (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 66846

• Home prices YoY: 2.7%
• Active inventory: 26
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,141 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $72

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 89%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $119,900 Active 108 DOM
2. 2026-06-18
   days on market $119,900 Active 107 DOM
3. 2026-06-17
   days on market $119,900 Active 106 DOM
4. 2026-06-16
   days on market $119,900 Active 105 DOM
5. 2026-06-16
   price $119,900 Active 104 DOM
6. 2026-06-15
   days on market $127,500 Active 104 DOM
7. 2026-06-14
   days on market $127,500 Active 102 DOM
8. 2026-06-12
   days on market $127,500 Active 101 DOM
9. 2026-06-09
   days on market $127,500 Active 98 DOM
10. 2026-06-08
    days on market $127,500 Active 97 DOM
11. 2026-06-07
    days on market $127,500 Active 96 DOM
12. 2026-06-05
    days on market $127,500 Active 94 DOM
13. 2026-06-03
    days on market $127,500 Active 92 DOM
14. 2026-06-02
    days on market $127,500 Active 91 DOM
15. 2026-06-01
    days on market $127,500 Active 90 DOM
16. 2026-05-31
    days on market $127,500 Active 89 DOM
17. 2026-05-30
    days on market $127,500 Active 88 DOM
18. 2026-05-20
    price $127,500
19. 2026-05-06
    price $132,500
20. 2026-03-02
    listed $139,900 Active
21. 2022-11-19
    soldstatus 429-char remark

    Show marketing remark (429 chars)

    Tons of charm and character in this 1900 2 story home! Hardwood floors, transom windows, tall ceilings, stained glass window, beautiful staircase, solid wood doors and trim are just some of the highlights from yesteryear in this 3+ bedroom, 2 bath home with 1,927 sq. ft. Plus, updated windows on the 2nd floor, two CH/CA units and a 24x24 detached 2 car garage built in 2001. Come and see the beauty of this home for yourself!

22. 2022-08-23
    listed $114,900 429-char remark

    Show marketing remark (429 chars)

    Tons of charm and character in this 1900 2 story home! Hardwood floors, transom windows, tall ceilings, stained glass window, beautiful staircase, solid wood doors and trim are just some of the highlights from yesteryear in this 3+ bedroom, 2 bath home with 1,927 sq. ft. Plus, updated windows on the 2nd floor, two CH/CA units and a 24x24 detached 2 car garage built in 2001. Come and see the beauty of this home for yourself!

23. 2007-12-01
    soldstatus $70,000
24. 1994-07-01
    soldstatus $12,131

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,687
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,095
• − Management: −$1,095
• − Depreciation: −$3,488
• Taxable loss: −$1,105
• Est. tax savings @ 24.0%: +$265
• After-tax cash flow: $1,135/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: Morris County
• NCES district ID: 2005280
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $44,531
• Composite: 33.97/100
• National rank: #5325
• State rank: #34 of 169 in KS

Livability — Council Grove

• Score: 79/100
• State rank: #22
• US rank: #2091

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Council Grove, KS
• Population (ZIP): 3,331

Population outlook (Morris County) Hauer SSP2

• Today (2025): 5,249 people
• By 2030: 5,035 · -4.1%
• By 2040: 4,640 · -11.6%
• By 2050: 4,331 · -17.5%
• By 2075: 3,990 · -24.0%
• By 2100: 3,696 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Morris

• 2024 margin: Solid R (+46.6) · D 25.8% · R 72.4% · Other 1.8%
• 2008→2024 swing: -12.5pp toward R · 2008: -34.1pp · 2024: -46.6pp
• All cycles: 2024: R+46.6 2020: R+47.9 2016: R+46.9 2012: R+41.4 2008: R+34.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.13%
• Current HPI: 197.7492
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+951.0% since first listed

7 events — show timeline

• 2026-05-20 Price Changed $127,500 FHAOR as distributed by MLS GRID
• 2026-05-06 Price Changed $132,500 FHAOR as distributed by MLS GRID
• 2026-03-02 Listed $139,900 FHAOR as distributed by MLS GRID
• 2022-11-19 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2022-08-23 Listed $114,900 Sunflower MLS as distributed by MLS GRID
• 2007-12-01 Sold (Public Records) $70,000 Public Records
• 1994-07-01 Sold (Public Records) $12,131 Public Records