403 N Main St · Iuka, KS 67066

$110,000

3 bd · 2.0 ba · 1,080 sqft · SingleFamily public records · 415 Days on market

Built 1990 0.49 ac 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 +18.0/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• Appreciation +5.0/10.0
• 1% rule +4.8/10.0
• Livability +3.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 0.49 acre lot
• 2 garage spots
• Built 1990

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $95 ($1k/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 $108k (1.5% below list).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#423 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime F, amenities F.
• Pratt (town): math 31% / reading 37% proficiency, ranked #69 of 169 in KS (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Southwest Elem (math 52% / reading 47%, grade D, #165 of 684 statewide, top 28%, 525 students, 46% FRL); Liberty Middle School (math 23% / reading 36%, grade F, #72 of 219 statewide, top 38%, 329 students, 54% FRL); Pratt Sr High (math 22% / reading 22%, grade F, #165 of 327 statewide, top 55%, 325 students, 43% FRL).
• Market conditions: 1 active listings in the ZIP; 4 units permitted in Pratt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($761 loan paydown + $3k appreciation (3.0% local appreciation)).
• Pratt County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, 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 415 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $5k; list at $110k implies a 2192% gain — meaningful room to come down on a strong offer.

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 415 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.98% ✗
• Cap rate: 7.33%
• Cash-on-cash: 3.72%
• DSCR: 1.17
• GRM: 8.5

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: 11.0%
• Equity multiple: 1.63×
• Total profit: $19,347
• Equity at exit: $49,461

10-year hold

• IRR: 13.2%
• Equity multiple: 2.96×
• Total profit: $60,392
• Equity at exit: $76,225

Cash invested: $30,800 (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 67066

• Active inventory: 1
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,083 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $95

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 86%

Sensitivity live

Price	-10% $171	-5% $133	+0% $95	+5% $57	+10% $19
Rent	-10% $10	-5% $53	+0% $95	+5% $138	+10% $181
Rate	-1.0pp $151	-0.5pp $123	base $95	+0.5pp $67	+1.0pp $38

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2024-09-05
   status Pending
2. 2024-07-18
   price $110,000
3. 2024-01-22
   price $120,000
4. 2024-01-19
   status Active
5. 2023-07-18
   listed $125,000 Active
6. 2022-10-24
   listed $125,000 Active
7. 1989-07-01
   soldstatus $4,800

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

Taxation est. · year 1

• Rental income: $12,997
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$3,200
• Taxable loss: −$644
• Est. tax savings @ 24.0%: +$155
• After-tax cash flow: $1,300/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: Pratt
• NCES district ID: 2010890
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 37% ▲ 2.00%
• Median HH income: $46,198
• Composite: 29.14/100
• National rank: #6583
• State rank: #69 of 169 in KS

Livability — Iuka

• Score: 60/100
• State rank: #423
• US rank: #18825

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iuka, KS
• Population (ZIP): 266

Population outlook (Pratt County) Hauer SSP2

• Today (2025): 9,946 people
• By 2030: 10,018 · +0.7%
• By 2040: 10,264 · +3.2%
• By 2050: 10,693 · +7.5%
• By 2075: 12,041 · +21.1%
• By 2100: 12,973 · +30.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 17% Hispanic / Latino 14%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Slovak 9% Italian 4%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Pratt

• 2024 margin: Solid R (+51.5) · D 23.4% · R 74.8% · Other 1.8%
• 2008→2024 swing: -15.0pp toward R · 2008: -36.5pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+52.7 2016: R+54.0 2012: R+46.8 2008: R+36.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+2191.7% since first listed

7 events — show timeline

• 2024-09-05 Pending — MKMLS as distributed by MLS GRID
• 2024-07-18 Price Changed $110,000 MKMLS as distributed by MLS GRID
• 2024-01-22 Price Changed $120,000 MKMLS as distributed by MLS GRID
• 2024-01-19 Relisted — MKMLS as distributed by MLS GRID
• 2023-07-18 Listed $125,000 MKMLS as distributed by MLS GRID
• 2022-10-24 Listed $125,000 MKMLS as distributed by MLS GRID
• 1989-07-01 Sold (Public Records) $4,800 Public Records