517 N Mulberry St · Eureka, KS 67045

$62,500

2 bd · 1.0 ba · 849 sqft · SingleFamily public records · 185 Days on market

Built 1900 7,405 sqft lot

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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
• DSCR +10.0/10.0
• Appreciation +9.8/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Back yard
• Updated paint
• Bonus room

Tags

• ORIGINAL WOOD FLOORS
• UPDATED PAINT
• 2ND FLOOR
• BONUS ROOM
• BACK YARD

Property features AI

Exterior

• Utilities: Public sewer available; Natural gas available; Public utilities
• Home design: Single-family onsite built home
• Construction: Composition roof
• Exterior features: One-and-a-half level layout; Composition roof

Interior

• Kitchen: Includes refrigerator and range
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window air conditioning units; Space heater for heating
• Interior features: Refrigerator; Range
• Laundry & utility: Main floor laundry; 220V equipment available

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $117 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($854 rent vs $62k).
• Recommended offer: $55k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#192 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities F, commute F, employment F.
• Eureka (rural): math 28% / reading 39% proficiency, ranked #86 of 169 in KS (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marshall Elementary School (math 37% / reading 42%, grade F, #321 of 684 statewide, top 52%, 307 students, 67% FRL); Eureka Jr/Sr High (math 22% / reading 37%, grade F, #60 of 327 statewide, top 24%, 252 students, 56% FRL).
• Market conditions: 23 active listings in the ZIP; 3 units permitted in Greenwood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($432 loan paydown + $6k appreciation (9.5% local appreciation)).
• Greenwood County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.5% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.37% ✓
• Cap rate: 10.95%
• Cash-on-cash: 16.63%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.51% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.2%
• Equity multiple: 3.26×
• Total profit: $39,493
• Equity at exit: $54,065

10-year hold

• IRR: 25.6%
• Equity multiple: 7.29×
• Total profit: $110,099
• Equity at exit: $114,289

Cash invested: $17,500 (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 67045

• Home prices YoY: 5.5%
• Active inventory: 23
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $854 medium
• Mortgage (P&I): −$328
• Tax est. 1.5%: −$78 /mo · $938/yr
• Insurance: −$26
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$179
• Net cashflow: $117

Break-even live

Break-even rent $705

Max offer price $62,500

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: $15,625
• Closing costs: $1,875
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-18
   days on market $62,500 Active 185 DOM
2. 2026-06-17
   days on market $62,500 Active 184 DOM
3. 2026-06-16
   days on market $62,500 Active 183 DOM
4. 2026-06-15
   days on market $62,500 Active 182 DOM
5. 2026-06-13
   listed $62,500 Active 180 DOM

ⓘ 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 9/10 Extreme FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,244
• − Mortgage interest: −$3,501
• − Property taxes: −$938
• − Insurance: −$1,815
• − Repairs & maintenance: −$820
• − Management: −$820
• − Depreciation: −$1,818
• Taxable income: $534
• Est. tax owed @ 24.0%: −$128
• After-tax cash flow: $1,279/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: Eureka
• NCES district ID: 2006120
• Math proficiency: 28% ▼ -1.00%
• Reading proficiency: 39% ▲ 1.00%
• Median HH income: $37,104
• Composite: 27.83/100
• National rank: #6885
• State rank: #86 of 169 in KS

Livability — Eureka

• Score: 69/100
• State rank: #192
• US rank: #8682

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eureka, KS
• Population (ZIP): 3,119

Population outlook (Greenwood County) Hauer SSP2

• Today (2025): 5,505 people
• By 2030: 5,103 · -7.3%
• By 2040: 4,287 · -22.1%
• By 2050: 3,576 · -35.0%
• By 2075: 2,370 · -56.9%
• By 2100: 1,459 · -73.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 4% Native American 2%
• Common ancestry: Lithuanian 4% Slovak 2% Iranian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Greenwood

• 2024 margin: Solid R (+61.0) · D 18.8% · R 79.7% · Other 1.5%
• 2008→2024 swing: -17.2pp toward R · 2008: -43.8pp · 2024: -61.0pp
• All cycles: 2024: R+61.0 2020: R+60.8 2016: R+59.1 2012: R+49.3 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.51%
• Current HPI: 184.0175
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+8.7% since first listed

7 events — show timeline

• 2026-06-12 Relisted — SCKMLS as Distributed by MLS Grid
• 2026-04-10 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2025-10-09 Listed $62,500 SCKMLS as Distributed by MLS Grid
• 2023-07-01 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2023-06-30 Relisted — SCKMLS as Distributed by MLS Grid
• 2023-06-01 Pending — SCKMLS as Distributed by MLS Grid
• 2022-10-20 Listed $57,500 SCKMLS as Distributed by MLS Grid