126 W 9th St · LeRoy, KS 66857

$40,000

1 bd · 1.0 ba · 1,018 sqft · SingleFamily public records · 3 Days on market

Built 1900 0.34 ac lot

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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 +9.5/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Key facts

• Ample storage space
• Flexible layout
• Additional room

Tags

• AMPLE STORAGE SPACE
• FLEXIBLE LAYOUT
• ADDITIONAL ROOM

Property features AI

Finance

• Other: Accessible approach with ramp; In flood plain: No; Approximate living area: 1,018 (per public records); Age: 101 years or more
• HOA & community: No association fees

Exterior

• Parking: Carport; 1-car garage
• Utilities: Public water; Public sewer; Public road maintenance
• Home design: Single-family residence; Bungalow floor plan; Residential property
• Construction: Frame construction; Composition and metal roof
• Exterior features: Covered patio; Shed(s); Corner, level city lot within city limits

Interior

• Kitchen: Refrigerator; Electric range; Country kitchen / Eat-in kitchen with living/dining combo
• Bedrooms: 1 bedroom (main floor bedroom listed)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall furnace; Window cooling unit(s)
• Interior features: Ceiling fan(s); Storm windows; Crawl space basement
• Laundry & utility: Laundry room located off the kitchen

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($904 rent vs $40k).

Location & tenants

• Location reads 66/100 on livability (#262 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Leroy-Gridley (rural): math 20% / reading 25% proficiency, ranked #245 of 280 in KS (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 4 active listings in the ZIP; 29 units permitted in Coffey County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($277 loan paydown + $4k appreciation (9.0% local appreciation)).
• Coffey County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.26% ✓
• Cap rate: 19.77%
• Cash-on-cash: 48.14%
• DSCR: 3.14
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.97% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 60.8%
• Equity multiple: 5.25×
• Total profit: $47,633
• Equity at exit: $33,086

10-year hold

• IRR: 55.1%
• Equity multiple: 11.47×
• Total profit: $117,222
• Equity at exit: $68,429

Cash invested: $11,200 (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 66857

• Home prices YoY: 4.0%
• Active inventory: 4
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $904 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$38 /mo · $459/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $449

Break-even live

Break-even rent $335

Max offer price $40,000

Occupancy floor 45%

Sensitivity live

Price	-10% $472	-5% $461	+0% $449	+5% $438	+10% $427
Rent	-10% $378	-5% $414	+0% $449	+5% $485	+10% $521
Rate	-1.0pp $469	-0.5pp $459	base $449	+0.5pp $439	+1.0pp $428

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-21
   days on market $40,000 Active 3 DOM
2. 2026-06-17
   listed $40,000 Active 1 DOM

ⓘ 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: $459 · $38/mo
• Projected year-2 tax: $564 · $47/mo
• Expected delta: +$105/yr (+$9/mo · 22.8%)

ⓘ 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 4/10 Moderate 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,845
• − Mortgage interest: −$2,241
• − Property taxes: −$459
• − Insurance: −$200
• − Repairs & maintenance: −$868
• − Management: −$868
• − Depreciation: −$1,164
• Taxable income: $5,046
• Est. tax owed @ 24.0%: −$1,211
• After-tax cash flow: $4,180/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: Leroy-Gridley
• NCES district ID: 2008670
• Math proficiency: 20% ▼ -10.00%
• Reading proficiency: 25% ▼ -10.00%
• Median HH income: $48,311
• Composite: 22.96/100
• National rank: #13379
• State rank: #245 of 280 in KS

Livability — LeRoy

• Score: 66/100
• State rank: #262
• US rank: #11488

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: LeRoy, KS
• Population (ZIP): 807

Population outlook (Coffey County) Hauer SSP2

• Today (2025): 8,172 people
• By 2030: 8,015 · -1.9%
• By 2040: 7,612 · -6.9%
• By 2050: 7,178 · -12.2%
• By 2075: 6,580 · -19.5%
• By 2100: 5,971 · -26.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Asian 3%
• Common ancestry: Slovak 7% Italian 4% Russian 3%
• Foreign-born: 3% · Vietnam
• Languages at home: 96% English-only · Vietnamese 3%

Political lean MEDSL · Coffey

• 2024 margin: Solid R (+55.7) · D 21.3% · R 77.0% · Other 1.6%
• 2008→2024 swing: -10.0pp toward R · 2008: -45.7pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+55.7 2016: R+57.3 2012: R+51.5 2008: R+45.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.97%
• Current HPI: 232.1935
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-17 Listed $40,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+6.3%/yr

Latest (2025): $459 · +13.7% YoY. Source: county tax records.