405 E 24th St · Pittsburg, KS 66762

$115,500

3 bd · 1.5 ba · 1,873 sqft · SingleFamily public records · 150 Days on market

Built 1965 0.27 ac lot $62/sqft · 20% below area Est $144k · 20% under

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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 +27.1/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +6.3/10.0
• Rent growth +5.0/5.0
• Livability +3.3/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bed 1.5-bath home is looking for someone to finish what has been started. With over 1800sq ft of living area, it has tremendous possibilities to bring it back to a stunning home. With a brand new roof, new garage door, an opener, and all new windows (purchased and ready to install plus new deck material, extra vinyl siding, and extra shingles. Put your own touches on this blank slate. Large 85x140 lot with a 1-car detached garage and convenient to shopping, but with a 2-car attached on a quiet side street, the possibilities are endless.

Key facts

• New deck material
• Brand new roof
• Large lot

Tags

• BRAND NEW ROOF
• NEW GARAGE DOOR
• NEW WINDOWS
• NEW DECK MATERIAL
• LARGE LOT
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $116k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $116k).
• Recommended offer: $102k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 5.4% in Pittsburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#270 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A; Watch: schools D, crime F, amenities F.
• Pittsburg (town): math 29% / reading 31% proficiency, ranked #111 of 169 in KS (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+13.8%/yr); 142 active listings in the ZIP; 65 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $799 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $38k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $37k; list at $116k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 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 1965 — 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. 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?
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: 1.13% ✓
• Cap rate: 9.68%
• Cash-on-cash: 12.11%
• DSCR: 1.54
• GRM: 7.4

CMA / ARV

• ARV (median comp): $144,332
• List price: $115,500
• Delta: -19.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 W 25th N/A	0.42mi	3/2.0	1,802 (-4%)	9mo	$189,900	$105	65
2810 N Michigan St	0.44mi	4/2.0 (+1)	1,789 (-4%)	6mo	$65,000	$36	60
3208 N Michigan St	0.75mi	3/1.5	1,884 (+1%)	20mo	$160,000	$85	47
911 Turner Rd	0.60mi	3/2.0	1,656 (-12%)	5mo	$229,999	$139	46
1611 N Joplin St	0.48mi	3/1.5	2,056 (+10%)	20mo	$175,000	$85	44
1701 N Elm St	0.47mi	4/2.0 (+1)	1,598 (-15%)	3mo	$209,000	$131	44
802 Lisa Rd	0.52mi	3/2.0	1,686 (-10%)	19mo	$219,000	$130	41
1812 N Locust St	0.39mi	3/2.5	1,612 (-14%)	17mo	$197,500	$123	40
113 E 14th St	0.67mi	3/2.0	1,604 (-14%)	15mo	$149,900	$93	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 6.7%
• Equity multiple: 1.28×
• Total profit: $8,926
• Equity at exit: $17,221

10-year hold

• IRR: 19.8%
• Equity multiple: 3.03×
• Total profit: $65,765
• Equity at exit: $9,986

Cash invested: $32,340 (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 66762

• Rents YoY: 13.8%
• Active inventory: 142
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,305 medium
• Mortgage (P&I): −$606
• Tax from tax record: −$51 /mo · $607/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $326

Break-even live

Break-even rent $892

Max offer price $115,500

Occupancy floor 70%

Sensitivity live

Price	-10% $392	-5% $359	+0% $326	+5% $294	+10% $261
Rent	-10% $223	-5% $275	+0% $326	+5% $378	+10% $429
Rate	-1.0pp $384	-0.5pp $356	base $326	+0.5pp $296	+1.0pp $266

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: $28,875
• Closing costs: $3,465
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $115,500 Active 150 DOM
2. 2026-06-19
   days on market $115,500 Active 148 DOM
3. 2026-06-18
   days on market $115,500 Active 147 DOM
4. 2026-06-17
   price $115,500 Active 146 DOM
5. 2026-06-17
   days on market $134,900 Active 146 DOM
6. 2026-06-16
   days on market $134,900 Active 145 DOM
7. 2026-06-15
   days on market $134,900 Active 144 DOM
8. 2026-06-14
   days on market $134,900 Active 142 DOM
9. 2026-06-13
   days on market $134,900 Active 141 DOM
10. 2026-06-10
    days on market $134,900 Active 139 DOM
11. 2026-06-09
    days on market $134,900 Active 138 DOM
12. 2026-06-08
    days on market $134,900 Active 137 DOM
13. 2026-06-07
    days on market $134,900 Active 136 DOM
14. 2026-06-05
    days on market $134,900 Active 133 DOM
15. 2026-06-03
    days on market $134,900 Active 132 DOM
16. 2026-06-02
    days on market $134,900 Active 131 DOM
17. 2026-06-01
    days on market $134,900 Active 130 DOM
18. 2026-05-31
    days on market $134,900 Active 129 DOM
19. 2026-05-30
    days on market $134,900 Active 128 DOM
20. 2026-05-12
    price $134,900 549-char remark

    Show marketing remark (549 chars)

    This 3-bed 1.5-bath home is looking for someone to finish what has been started. With over 1800sq ft of living area, it has tremendous possibilities to bring it back to a stunning home. With a brand new roof, new garage door, an opener, and all new windows (purchased and ready to install plus new deck material, extra vinyl siding, and extra shingles. Put your own touches on this blank slate. Large 85x140 lot with a 1-car detached garage and convenient to shopping, but with a 2-car attached on a quiet side street, the possibilities are endless.

21. 2026-04-14
    price $144,900 549-char remark

    Show marketing remark (549 chars)

    This 3-bed 1.5-bath home is looking for someone to finish what has been started. With over 1800sq ft of living area, it has tremendous possibilities to bring it back to a stunning home. With a brand new roof, new garage door, an opener, and all new windows (purchased and ready to install plus new deck material, extra vinyl siding, and extra shingles. Put your own touches on this blank slate. Large 85x140 lot with a 1-car detached garage and convenient to shopping, but with a 2-car attached on a quiet side street, the possibilities are endless.

22. 2026-04-01
    price $144,900 549-char remark

    Show marketing remark (549 chars)

    This 3-bed 1.5-bath home is looking for someone to finish what has been started. With over 1800sq ft of living area, it has tremendous possibilities to bring it back to a stunning home. With a brand new roof, new garage door, an opener, and all new windows (purchased and ready to install plus new deck material, extra vinyl siding, and extra shingles. Put your own touches on this blank slate. Large 85x140 lot with a 1-car detached garage and convenient to shopping, but with a 2-car attached on a quiet side street, the possibilities are endless.

23. 2026-03-10
    listed $154,000 Active 549-char remark

    Show marketing remark (549 chars)

    This 3-bed 1.5-bath home is looking for someone to finish what has been started. With over 1800sq ft of living area, it has tremendous possibilities to bring it back to a stunning home. With a brand new roof, new garage door, an opener, and all new windows (purchased and ready to install plus new deck material, extra vinyl siding, and extra shingles. Put your own touches on this blank slate. Large 85x140 lot with a 1-car detached garage and convenient to shopping, but with a 2-car attached on a quiet side street, the possibilities are endless.

24. 2026-01-22
    listed $154,000 Active 549-char remark

    Show marketing remark (549 chars)

    This 3-bed 1.5-bath home is looking for someone to finish what has been started. With over 1800sq ft of living area, it has tremendous possibilities to bring it back to a stunning home. With a brand new roof, new garage door, an opener, and all new windows (purchased and ready to install plus new deck material, extra vinyl siding, and extra shingles. Put your own touches on this blank slate. Large 85x140 lot with a 1-car detached garage and convenient to shopping, but with a 2-car attached on a quiet side street, the possibilities are endless.

25. 2021-10-19
    soldstatus $37,000

ⓘ 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: $607 · $51/mo
• Projected year-2 tax: $1,629 · $136/mo
• Expected delta: +$1,021/yr (+$85/mo · 168.1%)

ⓘ 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 · 19 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: $15,657
• − Mortgage interest: −$6,470
• − Property taxes: −$607
• − Insurance: −$578
• − Repairs & maintenance: −$1,253
• − Management: −$1,253
• − Depreciation: −$3,360
• Taxable income: $2,137
• Est. tax owed @ 24.0%: −$513
• After-tax cash flow: $3,403/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: Pittsburg
• NCES district ID: 2010710
• Math proficiency: 29% ▼ -5.00%
• Reading proficiency: 31% ▼ -4.00%
• Median HH income: $33,608
• Composite: 24.63/100
• National rank: #7629
• State rank: #111 of 169 in KS

Livability — Pittsburg

• Score: 66/100
• State rank: #270
• US rank: #12149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsburg, KS
• County: Crawford County · 24,907 people
• City population: 24,907
• Metro: Pittsburg, KS
• Population (ZIP): 24,907
• Household income: $50,511
• Rent vs Own: 46.7% rent · 53.3% own
• Severe rent burden: 1186.0

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 10% Two or more races 5% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 6% Other Asian/Pacific 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: ▼ -171.14%
• Current HPI: 158.7878
• Rent YoY: ▲ 13.80%
• Metro: Pittsburg, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+264.6% since first listed

6 events — show timeline

• 2026-05-12 Price Changed $134,900 OGAR
• 2026-04-14 Price Changed $144,900 OGAR
• 2026-04-01 Price Changed $144,900 Heartland MLS as Distributed by MLS Grid
• 2026-03-10 Listed $154,000 OGAR
• 2026-01-22 Listed $154,000 Heartland MLS as Distributed by MLS Grid
• 2021-10-19 Sold (Public Records) $37,000 Public Records

Property tax history

-8.3%/yr

Latest (2025): $607 · +4.6% YoY. Source: county tax records.