314 W Walnut St · Waterville, KS 66548

$85,000

2 bd · 1.0 ba · 768 sqft · SingleFamily public records

Built 1954

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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 +20.8/30.0
• ARV discount +7.5/15.0
• Appreciation +6.7/10.0
• DSCR +6.6/10.0
• 1% rule +4.9/10.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Built 1954

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $116 ($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 $84k (0.7% below list).
• Recommended offer: $84k (0.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#160 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.
• Valley Heights (rural): math 46% / reading 49% proficiency, ranked #12 of 169 in KS (top 7%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 7 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($588 loan paydown + $3k appreciation (3.3% local appreciation)).
• Marshall County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,370 (0.7% below list)

Questions for the listing agent

1. Built in 1954 — 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 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?
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: 0.99% ✗
• Cap rate: 7.93%
• Cash-on-cash: 5.86%
• DSCR: 1.26
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.3% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.7%
• Equity multiple: 1.80×
• Total profit: $18,995
• Equity at exit: $39,666

10-year hold

• IRR: 15.4%
• Equity multiple: 3.34×
• Total profit: $55,576
• Equity at exit: $62,278

Cash invested: $23,800 (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 66548

• Home prices YoY: 1.7%
• Active inventory: 2
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $844 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$69 /mo · $829/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $116

Break-even live

Break-even rent $696

Max offer price $85,000

Occupancy floor 81%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-26
   listed $85,000

ⓘ 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: $829 · $69/mo
• Projected year-2 tax: $1,198 · $100/mo
• Expected delta: +$370/yr (+$31/mo · 44.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,124
• − Mortgage interest: −$4,761
• − Property taxes: −$829
• − Insurance: −$425
• − Repairs & maintenance: −$810
• − Management: −$810
• − Depreciation: −$2,473
• Taxable income: $17
• Est. tax owed @ 24.0%: −$4
• After-tax cash flow: $1,392/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: Valley Heights
• NCES district ID: 2012780
• Math proficiency: 46% ▬ 0.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $44,804
• Composite: 40.21/100
• National rank: #3781
• State rank: #12 of 169 in KS

Livability — Waterville

• Score: 70/100
• State rank: #160
• US rank: #7639

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waterville, KS
• Population (ZIP): 924

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 9,451 people
• By 2030: 9,182 · -2.8%
• By 2040: 8,688 · -8.1%
• By 2050: 8,201 · -13.2%
• By 2075: 7,529 · -20.3%
• By 2100: 6,567 · -30.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Iranian 9% Slovak 2% Serbian 1%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+49.1) · D 24.3% · R 73.3% · Other 2.4%
• 2008→2024 swing: -21.8pp toward R · 2008: -27.3pp · 2024: -49.1pp
• All cycles: 2024: R+49.1 2020: R+48.2 2016: R+47.8 2012: R+35.7 2008: R+27.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.30%
• Current HPI: 194.982
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-26 Listed $85,000 FSBO.com

Property tax history

+4.7%/yr

Latest (2025): $829 · +8.1% YoY. Source: county tax records.