2617 N North Blvd · Parsons, KS 67357

$70,000

2 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 151 Days on market

Built 1930 2.21 ac lot Est $78k · 11% 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 +30.0/30.0
• ARV discount +12.3/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Key facts

• Open land
• Peaceful living
• 2.21 acres

Tags

• 2.21 ACRES
• OPEN LAND
• ROOM FOR GARDENS
• EASY ACCESS TO LOCAL SHOPS
• PEACEFUL LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($971 rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 5.0% in Parsons — 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 70/100 on livability (#164 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, schools F, crime F.
• Parsons (town): math 21% / reading 28% proficiency, ranked #143 of 169 in KS (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 45 active listings in the ZIP; 1 units permitted in Labette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Labette County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $10k; list at $70k implies a 575% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 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 1930 — 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 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?
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: 1.39% ✓
• Cap rate: 11.15%
• Cash-on-cash: 17.36%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $78,400
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2617 N North Blvd	0.00mi	2/1.0	1,120 (0%)	1mo	$70,000	$63	100
2713 Stevens Ave	0.71mi	2/1.0	1,082 (-3%)	4mo	$22,000	$20	58
2530 Dirr Ave	0.67mi	3/1.0 (+1)	1,073 (-4%)	1mo	$74,900	$70	56
2014 Maple Ave	0.60mi	2/1.0	988 (-12%)	6mo	$35,000	$35	47
2901 Stevens Ave	0.73mi	3/1.0 (+1)	1,202 (+7%)	4mo	$93,500	$78	45
2500 Chess Ave	0.60mi	3/2.0 (+1)	1,024 (-9%)	20mo	$92,500	$90	32
2524 Chess Ave	0.60mi	3/1.0 (+1)	977 (-13%)	22mo	$55,000	$56	28
3015 Chess Ave	0.64mi	3/2.0 (+1)	1,284 (+15%)	13mo	$129,900	$101	26

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.7%
• Equity multiple: 1.34×
• Total profit: $6,733
• Equity at exit: $10,437

10-year hold

• IRR: 18.0%
• Equity multiple: 2.49×
• Total profit: $29,180
• Equity at exit: $6,052

Cash invested: $19,600 (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 67357

• Home prices YoY: -20.4%
• Active inventory: 45
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $971 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $284

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 66%

Sensitivity live

Price	-10% $332	-5% $308	+0% $284	+5% $259	+10% $235
Rent	-10% $207	-5% $245	+0% $284	+5% $322	+10% $360
Rate	-1.0pp $319	-0.5pp $301	base $284	+0.5pp $265	+1.0pp $247

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-04
   status Pending
2. 2025-11-04
   listed $70,000 Active
3. 1994-01-01
   soldstatus $10,375

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $11,656
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$932
• − Management: −$932
• − Depreciation: −$2,036
• Taxable income: $2,433
• Est. tax owed @ 24.0%: −$584
• After-tax cash flow: $2,819/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: Parsons
• NCES district ID: 2010560
• Math proficiency: 21% ▼ -7.00%
• Reading proficiency: 28% ▼ -3.00%
• Median HH income: $37,868
• Composite: 20.46/100
• National rank: #8576
• State rank: #143 of 169 in KS

Livability — Parsons

• Score: 70/100
• State rank: #164
• US rank: #7726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parsons, KS
• City population: 11,786
• Population (ZIP): 11,786

Population outlook (Labette County) Hauer SSP2

• Today (2025): 19,413 people
• By 2030: 18,552 · -4.4%
• By 2040: 16,701 · -14.0%
• By 2050: 14,832 · -23.6%
• By 2075: 11,046 · -43.1%
• By 2100: 8,020 · -58.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 7% Hispanic / Latino 7% Black 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Labette

• 2024 margin: Solid R (+38.2) · D 30.1% · R 68.3% · Other 1.6%
• 2008→2024 swing: -25.3pp toward R · 2008: -12.9pp · 2024: -38.2pp
• All cycles: 2024: R+38.2 2020: R+36.0 2016: R+37.9 2012: R+20.2 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.97%
• Current HPI: 147.8259
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+574.7% since first listed

3 events — show timeline

• 2026-04-04 Pending — Heartland MLS as Distributed by MLS Grid
• 2025-11-04 Listed $70,000 Heartland MLS as Distributed by MLS Grid
• 1994-01-01 Sold (Public Records) $10,375 Public Records