317 W 8th St. St

Quinter, KS 67752

$95,000B-

10 bd · 3.5 ba · 5,510 sqft · Built 1924 · SingleFamily · Active · 200 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,196/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$204
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $243/mo
• Annual: $2,915/yr
• Cap rate: 9.36%
• Cash-on-cash: 10.96%
• DSCR: 1.49
• 1% rule: 1.26%
• Cash to close: $26,600

Investor read

• This is a 10-bed/3.5-bath single-family listed at $95k.
• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• It's been on market 200 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($657 loan paydown + $2k appreciation (2.2% local appreciation)).
• Location reads 73/100 on livability (#98 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, amenities F, commute F.
• Quinter Public Schools (rural): math 40% / reading 50% proficiency, ranked #30 of 280 in KS (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP.
• Gove County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 200 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D 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?
• 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.
• 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.
• 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.