1328 Niles Ave

Kinsley, KS 67547

$35,000B

2 bd · 1.0 ba · 548 sqft · Built 1920 · SingleFamily · Active · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $799/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$485
• HOA: −$0
• Vac / Maint / Mgmt: −$168
• Net cashflow: $-37/mo
• Annual: $-445/yr
• Cap rate: 19.65%
• Cash-on-cash: 47.69%
• DSCR: 3.12
• 1% rule: 2.28%
• Cash to close: $9,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $35k.
• At list price, monthly cash flow is $-37 ($-445/yr) — negative.
• To cash-flow at today's rent, offer at most $30k (15.3% below list).
• Meets the 1% rule at list price ($799 rent vs $35k).
• It's been on market 56 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $30k (15.3% below list) — sets the bar for cash-flow.
• In year one you build about $826 of equity ($242 loan paydown + $584 appreciation (1.7% local appreciation)).
• Location reads 69/100 on livability (#183 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F.
• Kinsley-Offerle (rural): math 30% / reading 30% proficiency, ranked #172 of 280 in KS (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kinsley-Offerle Elementary Pre-K-5 (math 44% / reading 54%, grade D, #165 of 684 statewide, top 28%, 139 students, 57% FRL); Kinsley Jr/Sr High School (math 22% / reading 27%, grade F, #105 of 327 statewide, top 49%, 157 students, 54% FRL).
• Watch-outs: flood insurance adds $427/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP.
• Edwards County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $3k; list at $35k implies a 1067% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 56 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.