306 N Monroe St

Abilene, KS 67410

$106,000D

3 bd · 1.0 ba · 1,100 sqft · Built 1950 · SingleFamily · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $971/mo
• Mortgage (P&I): −$556
• Tax + insurance: −$169
• HOA: −$0
• Vac / Maint / Mgmt: −$204
• Net cashflow: $43/mo
• Annual: $510/yr
• Cap rate: 6.77%
• Cash-on-cash: 1.72%
• DSCR: 1.08
• 1% rule: 0.92%
• Cash to close: $29,680

Investor read

• This is a 3-bed/1.0-bath single-family listed at $106k.
• At list price, monthly cash flow is $43 ($510/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 $97k (8.4% below list).
• It's been on market 31 days — a 3% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (8.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $733 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#62 in KS, #3,932 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities F, commute F.
• Abilene (town): math 25% / reading 40% proficiency, ranked #81 of 169 in KS (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kennedy Elem (267 students, 46% FRL); Abilene Middle School (math 20% / reading 40%, grade F, #64 of 219 statewide, top 32%, 338 students, 50% FRL); Abilene High School (math 17% / reading 27%, grade F, #165 of 327 statewide, top 55%, 451 students, 40% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 71 active listings in the ZIP; 26 units permitted in Dickinson County in 2024 (0 in 5+ unit buildings).
• Dickinson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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 $68k; list at $106k implies a 57% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.