248 Delaware St Unit E-03 · Edwardsville, KS 66113

$47,000

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 117 Days on market

Built 2026 Fair condition

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0
• Condition / age +2.2/5.0

Listing remarks

* THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a playground, a baseball field, a basketball court, and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2026
• Listed 117 days

Property features AI

Finance

• Other: Address: 248 Delaware St Unit E-03, Edwardsville, KS 66113
• Financial info: List price $46,500

Exterior

• Home design: Spec-built property; Active listing
• Exterior features: Living area of 1,056 (listed)

Interior

• Bedrooms: 3 bedrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 2 bathrooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $47k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $47k).
• Recommended offer: $43k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.5% vs local median 3.8% in Edwardsville — 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 65/100 on livability (#289 in KS) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Bonner Springs (suburban): math 21% / reading 29% proficiency, ranked #131 of 169 in KS (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 15 active listings in the ZIP; 369 units permitted in Wyandotte County in 2024 (236 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($325 loan paydown + $1k appreciation (3.0% local appreciation)).
• Wyandotte County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($43k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $42,770 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.37% ✓
• Cap rate: 20.50%
• Cash-on-cash: 50.73%
• DSCR: 3.26
• GRM: 3.5

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: 55.9%
• Equity multiple: 4.12×
• Total profit: $41,112
• Equity at exit: $21,133

10-year hold

• IRR: 55.5%
• Equity multiple: 8.35×
• Total profit: $96,728
• Equity at exit: $32,569

Cash invested: $13,160 (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 66113

• Active inventory: 15
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,115 medium
• Mortgage (P&I): −$246
• Tax est. 1.5%: −$59 /mo · $705/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $556

Break-even live

Break-even rent $411

Max offer price $47,000

Occupancy floor 45%

Sensitivity live

Price	-10% $589	-5% $573	+0% $556	+5% $540	+10% $524
Rent	-10% $468	-5% $512	+0% $556	+5% $600	+10% $644
Rate	-1.0pp $580	-0.5pp $568	base $556	+0.5pp $544	+1.0pp $532

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: $11,750
• Closing costs: $1,410
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $47,000 Active 117 DOM
2. 2026-06-18
   days on market $47,000 Active 114 DOM
3. 2026-06-17
   days on market $47,000 Active 113 DOM
4. 2026-06-16
   days on market $47,000 Active 112 DOM
5. 2026-06-15
   days on market $47,000 Active 111 DOM
6. 2026-06-13
   days on market $47,000 Active 109 DOM
7. 2026-06-13
   days on market $47,000 Active 108 DOM
8. 2026-06-09
   days on market $47,000 Active 105 DOM
9. 2026-06-08
   days on market $47,000 Active 104 DOM
10. 2026-06-07
    days on market $47,000 Active 103 DOM
11. 2026-06-05
    days on market $47,000 Active 100 DOM
12. 2026-06-03
    days on market $47,000 Active 99 DOM
13. 2026-06-02
    days on market $47,000 Active 98 DOM
14. 2026-06-01
    pricedays on market $47,000 Active 97 DOM
15. 2026-05-31
    days on market $46,500 Active 96 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $13,385
• − Mortgage interest: −$2,633
• − Property taxes: −$705
• − Insurance: −$235
• − Repairs & maintenance: −$1,071
• − Management: −$1,071
• − Depreciation: −$1,367
• Taxable income: $6,303
• Est. tax owed @ 24.0%: −$1,513
• After-tax cash flow: $5,163/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.

Condition & rehab AI · 2 photos

Fair 45/100 Cosmetic rehab

This manufactured home is in fair condition with good exterior and roof. It has a good curb appeal and is located in a family-friendly community. The home could benefit from exterior painting and landscaping improvements to increase its resale and rental value.

Value-add opportunities

• Both Paint the exterior siding — Painting the exterior siding will improve the curb appeal and the home's overall appearance, making it more attractive to potential buyers and renters.
• Both Landscaping improvements — Improving the landscaping will enhance the home's curb appeal and make it more attractive to potential buyers and renters.
• Both Interior updates — Updating the interior, such as painting walls and updating fixtures, will improve the home's overall appearance and make it more attractive to potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Painting the exterior siding will improve the curb appeal and the home's overall appearance, making it more attractive to potential buyers and renters. ↑
• Both Landscaping improvements — Improving the landscaping will enhance the home's curb appeal and make it more attractive to potential buyers and renters. ↑
• Both Interior updates — Updating the interior, such as painting walls and updating fixtures, will improve the home's overall appearance and make it more attractive to potential buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Bonner Springs
• NCES district ID: 2004050
• Math proficiency: 21% ▼ -7.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $56,480
• Composite: 22.65/100
• National rank: #8055
• State rank: #131 of 169 in KS

Livability — Edwardsville

• Score: 65/100
• State rank: #289
• US rank: #12913

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edwardsville, KS

Population outlook (Wyandotte County) Hauer SSP2

• Today (2025): 177,063 people
• By 2030: 183,212 · +3.5%
• By 2040: 195,697 · +10.5%
• By 2050: 207,897 · +17.4%
• By 2075: 236,169 · +33.4%
• By 2100: 255,790 · +44.5%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

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