210 S Oak St

Stockton, KS 67669

$90,000B-

2 bd · 2.0 ba · 1,554 sqft · Built 1947 · SingleFamily · Active · 155 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,051/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$221
• Net cashflow: $209/mo
• Annual: $2,504/yr
• Cap rate: 9.08%
• Cash-on-cash: 9.94%
• DSCR: 1.44
• 1% rule: 1.17%
• Cash to close: $25,200

Investor read

• This is a 2-bed/2.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• It's been on market 155 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($622 loan paydown + $6k appreciation (6.7% local appreciation)).
• Location reads 72/100 on livability (#121 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools F, amenities F.
• Stockton (rural): math 10% / reading 25% proficiency, ranked #275 of 280 in KS (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 3 units permitted in Rooks County in 2024 (0 in 5+ unit buildings).
• 3 sale attempts since 2y ago; this cycle's ask has dropped $8k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $24k; list at $90k implies a 275% gain — meaningful room to come down on a strong offer.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $25k 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.

Questions for listing agent

• It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.
• 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.