222 S Burns St · Independence, KS 67301

$80,000

2 bd · 1.0 ba · 1,281 sqft · SingleFamily public records · 6 Days on market

Built 1900 9,100 sqft lot Est $108k · 26% under

---

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 +28.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Will be presenting all offers on10/04/2023 @ 5:00pm. WOW! WHAT A GREAT HOME! This bungalow has had all new plumbing and wiring put in a little over a year ago. At the same time, new kitchen flooring, painted cabinets, and new countertops were installed. The bathroom was also completely gutted to the studs and renovated. The parking is off of the alley and the detached garage has a shop/workspace. This home was purchased with a USDA loan on 6/30/2022.

Key facts

• Fenced yard
• Back yard garage
• Vinyl siding

Tags

• VINYL SIDING
• NEW ROOF
• FENCED YARD
• BACK YARD GARAGE

Property features AI

Finance

• Other: No flood plain; Maintenance not provided
• HOA & community: No association fees

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Bungalow floor plan; Residential property
• Construction: Frame construction with vinyl siding; Composition roof; Approximately 101+ years old
• Exterior features: Metal fencing; Lot dimensions 65 x 140 (9,100 sq ft)

Interior

• Kitchen: Dishwasher; Disposal; Gas range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Floor furnace heating; Window air conditioning units
• Interior features: Living/dining combo; Crawl space basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 10.3% vs local median 4.0% in Independence — 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 (#285 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools D+, crime F, amenities F.
• Independence (town): math 31% / reading 36% proficiency, ranked #76 of 169 in KS (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 69 active listings in the ZIP; 10 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Montgomery County population projected at -28% 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 $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,000

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 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?
4. Crime grade is F 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?
5. 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.
6. 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.
7. 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: 1.31% ✓
• Cap rate: 10.31%
• Cash-on-cash: 14.36%
• DSCR: 1.64
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $107,604
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
915 E Main St	0.12mi	2/1.0	1,347 (+5%)	15mo	$19,800	$15	73
112 N Burns St N	0.18mi	3/2.0 (+1)	1,362 (+6%)	10mo	$117,900	$87	64
415 Westminster Pl	0.66mi	2/1.0	1,205 (-6%)	1mo	$50,000	$41	59
213 S 1st St	0.27mi	3/2.0 (+1)	1,392 (+9%)	11mo	$47,000	$34	55
401 S 6th St	0.66mi	3/2.0 (+1)	1,292 (+1%)	9mo	$150,000	$116	52
816 S 2nd St	0.60mi	3/2.0 (+1)	1,344 (+5%)	6mo	$87,500	$65	50
518 S 6th St	0.65mi	3/1.5 (+1)	1,166 (-9%)	4mo	$145,000	$124	44
709 S Park Blvd	0.56mi	2/1.0	1,470 (+15%)	10mo	$125,000	$85	41
613 S 4th St	0.58mi	3/2.0 (+1)	1,470 (+15%)	5mo	$98,000	$67	35
620 S 6th St	0.68mi	3/1.5 (+1)	1,452 (+13%)	7mo	$139,500	$96	34
311 Westminster Pl	0.71mi	2/1.0	1,108 (-14%)	21mo	$77,400	$70	27
304 Westminster Pl	0.74mi	2/1.0	1,124 (-12%)	22mo	$94,500	$84	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 4.8%
• Equity multiple: 1.18×
• Total profit: $4,127
• Equity at exit: $11,928

10-year hold

• IRR: 14.2%
• Equity multiple: 2.15×
• Total profit: $25,656
• Equity at exit: $6,917

Cash invested: $22,400 (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 67301

• Active inventory: 69
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,048 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$107 /mo · $1,281/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $268

Break-even live

Break-even rent $708

Max offer price $80,000

Occupancy floor 69%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-18
   days on market $80,000 Active 6 DOM
2. 2026-06-17
   days on market $80,000 Active 5 DOM
3. 2026-06-16
   days on market $80,000 Active 4 DOM
4. 2026-06-15
   days on market $80,000 Active 3 DOM
5. 2026-06-13
   listed $80,000 Active 1 DOM

ⓘ 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: $1,281 · $107/mo
• Projected year-2 tax: $1,281 · $107/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,571
• − Mortgage interest: −$4,481
• − Property taxes: −$1,281
• − Insurance: −$400
• − Repairs & maintenance: −$1,006
• − Management: −$1,006
• − Depreciation: −$2,327
• Taxable income: $2,071
• Est. tax owed @ 24.0%: −$497
• After-tax cash flow: $2,719/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: Independence
• NCES district ID: 2007650
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 36% ▲ 1.00%
• Median HH income: $43,327
• Composite: 28.45/100
• National rank: #6750
• State rank: #76 of 169 in KS

Livability — Independence

• Score: 65/100
• State rank: #285
• US rank: #12779

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, KS
• Population (ZIP): 12,996

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 29,729 people
• By 2030: 27,786 · -6.5%
• By 2040: 24,201 · -18.6%
• By 2050: 21,280 · -28.4%
• By 2075: 16,754 · -43.6%
• By 2100: 14,088 · -52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 10% Hispanic / Latino 6% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+51.1) · D 23.6% · R 74.7% · Other 1.8%
• 2008→2024 swing: -15.3pp toward R · 2008: -35.8pp · 2024: -51.1pp
• All cycles: 2024: R+51.1 2020: R+50.2 2016: R+50.8 2012: R+41.4 2008: R+35.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.85%
• Current HPI: 126.8212
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+45.7% since first listed

10 events — show timeline

• 2026-06-12 Listed $80,000 Heartland MLS as Distributed by MLS Grid
• 2023-11-08 Sold (Public Records) — Public Records
• 2023-11-07 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2023-10-02 Listed $64,000 Heartland MLS as Distributed by MLS Grid
• 2022-07-01 Sold (Public Records) — Public Records
• 2022-06-30 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2022-04-11 Listed $54,900 Heartland MLS as Distributed by MLS Grid
• 2020-09-28 Sold (Public Records) — Public Records
• 2016-12-14 Sold (Public Records) — Public Records
• 2016-11-17 Sold (Public Records) — Public Records

Property tax history

+7.2%/yr

Latest (2025): $1,281 · +7.5% YoY. Source: county tax records.