303 Garfield Ave · Olmitz, KS 67564

$119,900

4 bd · 1.5 ba · 2,174 sqft · SingleFamily public records · 1 Days on market

Built 1900 1.21 ac lot

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Why this score? — see what drove the C+ 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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Appreciation +5.0/10.0
• Schools +2.6/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 1.21 acre lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).

Location & tenants

• Location reads 52/100 on livability (#615 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Otis-Bison (rural): math 25% / reading 30% proficiency, ranked #200 of 280 in KS (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 3 active listings in the ZIP; 19 units permitted in Barton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($829 loan paydown + $4k appreciation (3.0% local appreciation)).
• Barton County population projected at -13% 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 $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.09% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.48%
• DSCR: 1.42
• GRM: 7.7

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: 16.4%
• Equity multiple: 1.93×
• Total profit: $31,317
• Equity at exit: $53,912

10-year hold

• IRR: 17.9%
• Equity multiple: 3.62×
• Total profit: $87,800
• Equity at exit: $83,085

Cash invested: $33,572 (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 67564

• Active inventory: 3
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,301 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$84 /mo · $1,006/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $265

Break-even live

Break-even rent $965

Max offer price $119,900

Occupancy floor 75%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-23
   status Pending
2. 2026-04-21
   listed $119,900 Active

ⓘ 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: $1,006 · $84/mo
• Projected year-2 tax: $1,691 · $141/mo
• Expected delta: +$685/yr (+$57/mo · 68.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 6 d/yr ≥104°F today · 14 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: $15,612
• − Mortgage interest: −$6,716
• − Property taxes: −$1,006
• − Insurance: −$600
• − Repairs & maintenance: −$1,249
• − Management: −$1,249
• − Depreciation: −$3,488
• Taxable income: $1,305
• Est. tax owed @ 24.0%: −$313
• After-tax cash flow: $2,870/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: Otis-Bison
• NCES district ID: 2004020
• Math proficiency: 25% ▬ 0.00%
• Reading proficiency: 30% ▼ -5.00%
• Median HH income: $43,813
• Composite: 26.47/100
• National rank: #12636
• State rank: #200 of 280 in KS

Livability — Olmitz

• Score: 52/100
• State rank: #615
• US rank: #25021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Olmitz, KS
• Population (ZIP): 280

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 9% Two or more races 1% Native American 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 6% Danish 2% Italian 1%
• Languages at home: 98% English-only · Spanish 2%

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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-04-23 Pending — Hays MLS
• 2026-04-21 Listed $119,900 Hays MLS

Property tax history

+4.6%/yr

Latest (2025): $1,006 · -14.5% YoY. Source: county tax records.