245 S Range Ave · Colby, KS 67701

$89,500

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 356 Days on market

Built 1927 5,000 sqft lot

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Why this score? — see what drove the D+ 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 +5.6/10.0
• 1% rule +4.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two bedroom, one bath house. Nice rental to add to your portfolio or great for a first time homeowner. Call Tom Harrison at 785.443.0136 or 785.460.7253 to view this property!

Key facts

• 5,000 sq ft lot
• Listed 355 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $77 ($920/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 $80k (10.1% below list).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 78/100 on livability (#31 in KS, #2,704 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Colby Public Schools (town): math 28% / reading 28% proficiency, ranked #113 of 169 in KS (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 9 active listings in the ZIP; 5 units permitted in Thomas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $619 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Thomas County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 356 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $24k; list at $90k implies a 265% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 356 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — 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. 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?
7. 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.
8. 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.
9. 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: 0.90% ✗
• Cap rate: 7.32%
• Cash-on-cash: 3.67%
• DSCR: 1.16
• GRM: 9.3

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: -10.6%
• Equity multiple: 0.62×
• Total profit: $-9,643
• Equity at exit: $13,345

10-year hold

• IRR: -1.3%
• Equity multiple: 0.91×
• Total profit: $-2,206
• Equity at exit: $7,738

Cash invested: $25,060 (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 67701

• Active inventory: 9
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $805 medium
• Mortgage (P&I): −$469
• Tax from tax record: −$52 /mo · $629/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$169
• Net cashflow: $77

Break-even live

Break-even rent $708

Max offer price $89,500

Occupancy floor 85%

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $89,500 Active 356 DOM
2. 2026-06-18
   days on market $89,500 Active 355 DOM
3. 2026-06-17
   days on market $89,500 Active 354 DOM
4. 2026-06-16
   days on market $89,500 Active 353 DOM
5. 2026-06-15
   days on market $89,500 Active 352 DOM
6. 2026-06-14
   days on market $89,500 Active 350 DOM
7. 2026-06-13
   days on market $89,500 Active 349 DOM
8. 2026-06-10
   days on market $89,500 Active 347 DOM
9. 2026-06-09
   days on market $89,500 Active 346 DOM
10. 2026-06-08
    days on market $89,500 Active 345 DOM
11. 2026-06-07
    days on market $89,500 Active 344 DOM
12. 2026-06-05
    days on market $89,500 Active 341 DOM
13. 2026-06-02
    days on market $89,500 Active 339 DOM
14. 2026-06-01
    days on market $89,500 Active 338 DOM
15. 2026-05-31
    days on market $89,500 Active 337 DOM
16. 2026-05-30
    days on market $89,500 Active 336 DOM
17. 2025-03-10
    listed $89,500 Active 175-char remark

    Show marketing remark (175 chars)

    Two bedroom, one bath house. Nice rental to add to your portfolio or great for a first time homeowner. Call Tom Harrison at 785.443.0136 or 785.460.7253 to view this property!

18. 2009-02-01
    soldstatus $24,500
19. 1994-09-01
    soldstatus $41,500
20. 1985-05-01
    soldstatus $52,000

ⓘ 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: $629 · $52/mo
• Projected year-2 tax: $1,262 · $105/mo
• Expected delta: +$633/yr (+$53/mo · 100.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,657
• − Mortgage interest: −$5,013
• − Property taxes: −$629
• − Insurance: −$448
• − Repairs & maintenance: −$773
• − Management: −$773
• − Depreciation: −$2,604
• Taxable loss: −$582
• Est. tax savings @ 24.0%: +$140
• After-tax cash flow: $1,060/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: Colby Public Schools
• NCES district ID: 2005010
• Math proficiency: 28% ▲ 5.00%
• Reading proficiency: 28% ▼ -2.00%
• Median HH income: $47,892
• Composite: 24.35/100
• National rank: #7695
• State rank: #113 of 169 in KS

Livability — Colby

• Score: 78/100
• State rank: #31
• US rank: #2704

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Colby, KS
• City population: 6,166
• Population (ZIP): 6,166

Population outlook (Thomas County) Hauer SSP2

• Today (2025): 7,844 people
• By 2030: 7,783 · -0.8%
• By 2040: 7,618 · -2.9%
• By 2050: 7,541 · -3.9%
• By 2075: 7,485 · -4.6%
• By 2100: 7,216 · -8.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 7% Two or more races 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 5% Slovak 3% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Thomas

• 2024 margin: Solid R (+65.8) · D 16.3% · R 82.1% · Other 1.6%
• 2008→2024 swing: -10.0pp toward R · 2008: -55.8pp · 2024: -65.8pp
• All cycles: 2024: R+65.8 2020: R+65.5 2016: R+67.9 2012: R+63.5 2008: R+55.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.22%
• Current HPI: 160.684
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+72.1% since first listed

4 events — show timeline

• 2025-03-10 Listed $89,500 SWKSBOR
• 2009-02-01 Sold (Public Records) $24,500 Public Records
• 1994-09-01 Sold (Public Records) $41,500 Public Records
• 1985-05-01 Sold (Public Records) $52,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $629 · +4.4% YoY. Source: county tax records.