1815 Madison St · Great Bend, KS 67530

$77,000

2 bd · 2.0 ba · 720 sqft · SingleFamily public records · 99 Days on market

Built 1950 7,000 sqft lot

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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 +16.7/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• DSCR +5.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Key facts

• Covered deck
• Fenced backyard
• Detached garage

Tags

• FENCED BACKYARD
• COVERED DECK
• DETACHED GARAGE
• PARTIALLY FINISHED BASEMENT

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Residential property; Entry level on 1
• Construction: Composition roof
• Exterior features: Deck; Chain-link fencing

Interior

• Bedrooms: Two main-level bedrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $77k.

Deal economics

• At list price, monthly cash flow is $48 ($579/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($818 rent vs $77k).
• Recommended offer: $70k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#138 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools F, amenities F.
• Great Bend (town): math 25% / reading 30% proficiency, ranked #124 of 169 in KS (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 151 active listings in the ZIP; 19 units permitted in Barton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $532 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Barton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $23k; list at $77k implies a 235% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,070 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
8. 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.
9. 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.
10. 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: 1.06% ✓
• Cap rate: 7.05%
• Cash-on-cash: 2.69%
• DSCR: 1.12
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -12.0%
• Equity multiple: 0.57×
• Total profit: $-9,349
• Equity at exit: $11,481

10-year hold

• IRR: -2.7%
• Equity multiple: 0.82×
• Total profit: $-3,966
• Equity at exit: $6,658

Cash invested: $21,560 (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 67530

• Active inventory: 151
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $818 medium
• Mortgage (P&I): −$404
• Tax from tax record: −$162 /mo · $1,947/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$172
• Net cashflow: $48

Break-even live

Break-even rent $757

Max offer price $77,000

Occupancy floor 89%

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: $19,250
• Closing costs: $2,310
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-03-31
   price $77,000
2. 2026-02-13
   listed $82,000 Active
3. 2021-09-18
   listed $79,900
4. 2010-09-07
   listed $62,500
5. 1993-12-01
   soldstatus $23,000
6. 1989-10-01
   soldstatus $31,000
7. 1989-09-01
   soldstatus $34,000

ⓘ 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: $1,947 · $162/mo
• Projected year-2 tax: $1,947 · $162/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 17 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: $9,819
• − Mortgage interest: −$4,313
• − Property taxes: −$1,947
• − Insurance: −$385
• − Repairs & maintenance: −$786
• − Management: −$786
• − Depreciation: −$2,240
• Taxable loss: −$637
• Est. tax savings @ 24.0%: +$153
• After-tax cash flow: $732/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: Great Bend
• NCES district ID: 2006660
• Math proficiency: 25% ▼ -7.00%
• Reading proficiency: 30% ▲ 1.00%
• Median HH income: $43,027
• Composite: 23.45/100
• National rank: #7883
• State rank: #124 of 169 in KS

Livability — Great Bend

• Score: 71/100
• State rank: #138
• US rank: #6794

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Great Bend, KS
• City population: 17,979
• Population (ZIP): 17,979

Population outlook (Barton County) Hauer SSP2

• Today (2025): 26,088 people
• By 2030: 25,418 · -2.6%
• By 2040: 24,010 · -8.0%
• By 2050: 22,719 · -12.9%
• By 2075: 20,690 · -20.7%
• By 2100: 18,869 · -27.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 21% Two or more races 14% Native American 1%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Italian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 88% English-only · Spanish 12%

Political lean MEDSL · Barton

• 2024 margin: Solid R (+56.8) · D 20.9% · R 77.6% · Other 1.5%
• 2008→2024 swing: -13.4pp toward R · 2008: -43.3pp · 2024: -56.8pp
• All cycles: 2024: R+56.8 2020: R+56.4 2016: R+58.9 2012: R+53.6 2008: R+43.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.50%
• Current HPI: 151.6054
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+126.5% since first listed

7 events — show timeline

• 2026-03-31 Price Changed $77,000 Hays MLS
• 2026-02-13 Listed $82,000 Hays MLS
• 2021-09-18 Listed $79,900 SCKMLS as Distributed by MLS Grid
• 2010-09-07 Listed $62,500 SCKMLS as Distributed by MLS Grid
• 1993-12-01 Sold (Public Records) $23,000 Public Records
• 1989-10-01 Sold (Public Records) $31,000 Public Records
• 1989-09-01 Sold (Public Records) $34,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,947 · +17.3% YoY. Source: county tax records.