401 W Larch St · Cherokee, KS 66724

$72,000

4 bd · 2.0 ba · 1,716 sqft · Manufactured public records · 16 Days on market

Built 1998 0.64 ac lot

---

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
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Key facts

• Large corner lot
• Bonus room
• Large kitchen

Tags

• LARGE CORNER LOT
• LARGE KITCHEN
• BONUS ROOM

Property features AI

Finance

• Other: Living area reported as 1,716 (source: public records); Age estimated 21-30 years
• HOA & community: No association fees

Exterior

• Parking: Off-street parking; Other parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Ranch floor plan; Manufactured home (manufactured type listed)
• Construction: Composition roof; Other construction materials
• Exterior features: Lot approximately 28,000 square feet; Not in a flood plain

Interior

• Kitchen: Spacious kitchen (main level)
• Bedrooms: 4 bedrooms (all on the main level); Bonus room on the main level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Electric cooling
• Interior features: Eat-in kitchen; Crawl space basement
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $72k.

Deal economics

• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Recommended offer: $71k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#377 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: employment D, schools F, crime F.
• Cherokee (rural): math 23% / reading 32% proficiency, ranked #127 of 169 in KS (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 5 active listings in the ZIP; 65 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($498 loan paydown + $4k appreciation (6.0% local appreciation)).
• At projected returns (6.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($71k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,920 (1.5% below list)

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 F-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: 1.72% ✓
• Cap rate: 14.62%
• Cash-on-cash: 29.75%
• DSCR: 2.32
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.5%
• Equity multiple: 3.60×
• Total profit: $52,391
• Equity at exit: $45,012

10-year hold

• IRR: 37.8%
• Equity multiple: 7.41×
• Total profit: $129,254
• Equity at exit: $81,412

Cash invested: $20,160 (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 66724

• Home prices YoY: 3.7%
• Active inventory: 5
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,237 medium
• Mortgage (P&I): −$378
• Tax from tax record: −$70 /mo · $838/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $500

Break-even live

Break-even rent $604

Max offer price $72,000

Occupancy floor 55%

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-11
   status Pending
2. 2026-04-25
   listed $72,000 Active

ⓘ 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: $838 · $70/mo
• Projected year-2 tax: $1,015 · $85/mo
• Expected delta: +$177/yr (+$15/mo · 21.2%)

ⓘ 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 5/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $14,843
• − Mortgage interest: −$4,033
• − Property taxes: −$838
• − Insurance: −$360
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − Depreciation: −$2,095
• Taxable income: $5,143
• Est. tax owed @ 24.0%: −$1,234
• After-tax cash flow: $4,763/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: Cherokee
• NCES district ID: 2004710
• Math proficiency: 23% ▼ -3.00%
• Reading proficiency: 32% ▼ -5.00%
• Median HH income: $39,749
• Composite: 23.12/100
• National rank: #7956
• State rank: #127 of 169 in KS

Livability — Cherokee

• Score: 62/100
• State rank: #377
• US rank: #16906

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cherokee, KS
• Population (ZIP): 986

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 39,393 people
• By 2030: 39,540 · +0.4%
• By 2040: 39,452 · +0.1%
• By 2050: 39,188 · -0.5%
• By 2075: 39,038 · -0.9%
• By 2100: 38,219 · -3.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 6%
• Common ancestry: Lithuanian 7% Slovak 4% Hungarian 1%

Political lean MEDSL · Crawford

• 2024 margin: Strong R (+25.3) · D 36.5% · R 61.7% · Other 1.8%
• 2008→2024 swing: -26.7pp toward R · 2008: 1.4pp · 2024: -25.3pp
• All cycles: 2024: R+25.3 2020: R+23.1 2016: R+23.1 2012: R+6.5 2008: D+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.95%
• Current HPI: 167.0376
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-05-11 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-25 Listed $72,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+1.5%/yr

Latest (2025): $838 · +4.7% YoY. Source: county tax records.