221 W Main

Mount Hope, KS 67108

$214,900D-

2 bd · 1.0 ba · 1,680 sqft · Built 1958 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,374/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$248
• HOA: −$0
• Vac / Maint / Mgmt: −$288
• Net cashflow: $-290/mo
• Annual: $-3,474/yr
• Cap rate: 4.68%
• Cash-on-cash: -5.77%
• DSCR: 0.74
• 1% rule: 0.64%
• Cash to close: $60,172

Investor read

• This is a 2-bed/1.0-bath single-family listed at $215k.
• At list price, monthly cash flow is $-290 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (23.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (36.1% below list).
• It's been on market 18 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (36.1% below list) — sets the bar for 1% rule.
• In year one you build about $23k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#274 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: crime D-, amenities F, commute F.
• Haven Public Schools (rural): math 27% / reading 34% proficiency, ranked #94 of 169 in KS (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Haven Elem (math 37% / reading 37%, grade F, #358 of 684 statewide, top 56%, 390 students, 52% FRL); Haven Middle School (math 22% / reading 27%, grade F, #110 of 219 statewide, top 55%, 91 students, 44% FRL); Haven High (math 5% / reading 24%, grade F, #260 of 327 statewide, top 81%, 234 students, 43% FRL).
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 2,613 units permitted in Sedgwick County in 2024 (258 in 5+ unit buildings).
• Sedgwick County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 14y 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.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→18/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?
• Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?
• 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.