312 E 5th St · Edgerton, KS 66021

$249,900

3 bd · 1.0 ba · 1,214 sqft · SingleFamily public records · 34 Days on market

Built 1920 9,750 sqft lot Est $283k · 12% under

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Why this score? — see what drove the D+ 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 +14.1/30.0
• ARV discount +12.7/15.0
• DSCR +4.3/10.0
• 1% rule +3.4/10.0
• Livability +3.4/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime Corner Lot Location in Edgerton KS, view of lake and near down town Edgerton. Zoned R-1 residential. Property is being sold as is where is, HUD CASE# 182-099097 Please call me or your Realtor® to schedule an appointment to view this home. HUD Homes are sold “as is”. Ask agent for details and have them submit offer online.

Key facts

• 9,750 sq ft lot
• Garage
• Listed 34 days

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: City/public water (verify)
• Home design: Single-family residence; Residential property; Ranch style
• Construction: Frame construction; Composition roof; About 2 years old
• Exterior features: Lot approximately 9,750 square feet

Interior

• Bedrooms: 3 bedrooms
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Electric cooling (has cooling)
• Interior features: Vinyl flooring; Slab basement; Ranch floor plan
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $36 ($431/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 $210k (16.2% below list).
• Recommended offer: $210k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.2% in Edgerton — 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 68/100 on livability (#211 in KS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Gardner Edgerton (suburban): math 32% / reading 37% proficiency, ranked #50 of 169 in KS (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 67 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,969 units permitted in Johnson County in 2024 (1,066 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Johnson County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y 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: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $209,500 (16.2% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.84% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.62%
• DSCR: 1.03
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $282,862
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37730 W 208th Ter	0.53mi	3/2.0	1,248 (+3%)	2mo	$290,520	$233	65
20857 Fairview St	0.53mi	3/2.0	1,248 (+3%)	2mo	$292,820	$235	65
20871 Fairview St	0.53mi	3/2.0	1,259 (+4%)	2mo	$293,195	$233	64
37721 W 208th Ter	0.53mi	3/2.0	1,259 (+4%)	2mo	$283,000	$225	63
20829 Fairview St	0.53mi	3/2.0	1,274 (+5%)	1mo	$303,990	$239	62
37754 W 208th Ter	0.53mi	3/2.0	1,259 (+4%)	3mo	$291,000	$231	62
37745 W 208th Ter	0.53mi	3/2.0	1,274 (+5%)	4mo	$297,000	$233	60
37814 W 208th Ter	0.53mi	3/2.0	1,274 (+5%)	4mo	$297,240	$233	59
20858 Starside St	0.53mi	3/2.0	1,328 (+9%)	1mo	$305,090	$230	55
20777 Starside St	0.53mi	3/2.0	1,328 (+9%)	4mo	$312,940	$236	52
37757 W 208th Ter	0.53mi	3/2.0	1,328 (+9%)	4mo	$303,970	$229	52
37718 W 208th Ter	0.53mi	3/2.0	1,328 (+9%)	5mo	$320,450	$241	51

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: -15.3%
• Equity multiple: 0.45×
• Total profit: $-38,241
• Equity at exit: $37,261

10-year hold

• IRR: -6.8%
• Equity multiple: 0.56×
• Total profit: $-30,494
• Equity at exit: $21,607

Cash invested: $69,972 (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 66021

• Home prices YoY: -28.9%
• Active inventory: 67
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,095 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$204 /mo · $2,454/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $36

Break-even live

Break-even rent $2,050

Max offer price $249,900

Occupancy floor 93%

Sensitivity live

Price	-10% $177	-5% $107	+0% $36	+5% $-35	+10% $-106
Rent	-10% $-130	-5% $-47	+0% $36	+5% $119	+10% $201
Rate	-1.0pp $162	-0.5pp $99	base $36	+0.5pp $-29	+1.0pp $-95

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20846 Starside St Edgerton, KS	3.0	2.0	1466	$2,095	$1.43	11d	1	0.52mi
20846 Starside St Edgerton, KS	3.0	2.0	1466	$2,095	$1.43	16d	1	0.52mi

Listing history 9 events

1. 2026-05-19
   status Pending
2. 2026-04-16
   listed $249,900 Active
3. 2026-04-05
   historical $249,900
4. 2025-06-30
   soldstatus
5. 2025-06-23
   soldstatus Closed 345-char remark

   Show marketing remark (345 chars)

   Prime Corner Lot Location in Edgerton KS, view of lake and near down town Edgerton. Zoned R-1 residential. Property is being sold as is where is, HUD CASE# 182-099097 Please call me or your Realtor® to schedule an appointment to view this home. HUD Homes are sold “as is”. Ask agent for details and have them submit offer online.

6. 2025-05-31
   status Pending 345-char remark

   Show marketing remark (345 chars)

   Prime Corner Lot Location in Edgerton KS, view of lake and near down town Edgerton. Zoned R-1 residential. Property is being sold as is where is, HUD CASE# 182-099097 Please call me or your Realtor® to schedule an appointment to view this home. HUD Homes are sold “as is”. Ask agent for details and have them submit offer online.

7. 2025-04-02
   listed $30,000 Active 345-char remark

   Show marketing remark (345 chars)

   Prime Corner Lot Location in Edgerton KS, view of lake and near down town Edgerton. Zoned R-1 residential. Property is being sold as is where is, HUD CASE# 182-099097 Please call me or your Realtor® to schedule an appointment to view this home. HUD Homes are sold “as is”. Ask agent for details and have them submit offer online.

8. 2002-06-10
   soldstatus 271-char remark

   Show marketing remark (271 chars)

   Great summer view of lake from your front porch. This home is one level living with, 2 decks, ceiling fans in all rooms, Master has Walkin closet, Refrigerator, 2 pantries, storage shed, attic access, large corner lot, Netural decor, and a great price. Show & Sell.

9. 2002-01-06
   listed $87,950 271-char remark

   Show marketing remark (271 chars)

   Great summer view of lake from your front porch. This home is one level living with, 2 decks, ceiling fans in all rooms, Master has Walkin closet, Refrigerator, 2 pantries, storage shed, attic access, large corner lot, Netural decor, and a great price. Show & Sell.

ⓘ 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: $2,454 · $204/mo
• Projected year-2 tax: $3,524 · $294/mo
• Expected delta: +$1,070/yr (+$89/mo · 43.6%)

ⓘ 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 ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,140
• − Mortgage interest: −$13,998
• − Property taxes: −$2,454
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,011
• − Management: −$2,011
• − Depreciation: −$7,270
• Taxable loss: −$3,854
• Est. tax savings @ 24.0%: +$925
• After-tax cash flow: $1,356/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: Gardner Edgerton
• NCES district ID: 2006420
• Math proficiency: 32% ▼ -7.00%
• Reading proficiency: 37% ▼ -2.00%
• Median HH income: $67,086
• Composite: 31.55/100
• National rank: #5957
• State rank: #50 of 169 in KS

Livability — Edgerton

• Score: 68/100
• State rank: #211
• US rank: #9429

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edgerton, KS
• Population (ZIP): 2,792

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 663,396 people
• By 2030: 702,585 · +5.9%
• By 2040: 775,386 · +16.9%
• By 2050: 841,772 · +26.9%
• By 2075: 994,137 · +49.9%
• By 2100: 1,073,036 · +61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 9% Two or more races 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 3% Iranian 2% Slovak 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 91% English-only · Spanish 7% Chinese 1%

Political lean MEDSL · Johnson

• 2024 margin: Lean D (+8.5) · D 53.4% · R 44.9% · Other 1.8%
• 2008→2024 swing: +17.5pp toward D · 2008: -9.0pp · 2024: 8.5pp
• All cycles: 2024: D+8.5 2020: D+8.2 2016: R+2.7 2012: R+17.8 2008: R+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.39%
• Current HPI: 269.8005
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+184.1% since first listed

9 events — show timeline

• 2026-05-19 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-16 Listed $249,900 Heartland MLS as Distributed by MLS Grid
• 2026-04-05 Coming Soon $249,900 Heartland MLS as Distributed by MLS Grid
• 2025-06-30 Sold (Public Records) — Public Records
• 2025-06-23 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2025-05-31 Pending — Heartland MLS as Distributed by MLS Grid
• 2025-04-02 Listed $30,000 Heartland MLS as Distributed by MLS Grid
• 2002-06-10 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2002-01-06 Listed $87,950 Heartland MLS as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2025): $2,454 · +0.0% YoY. Source: county tax records.