613 N Webster Ave

Liberal, KS 67901

$100,000D

2 bd · 1.5 ba · 1,285 sqft · Built 1951 · SingleFamily · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,052/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$267
• HOA: −$0
• Vac / Maint / Mgmt: −$221
• Net cashflow: $40/mo
• Annual: $476/yr
• Cap rate: 6.77%
• Cash-on-cash: 1.70%
• DSCR: 1.08
• 1% rule: 1.05%
• Cash to close: $28,000

Investor read

• This is a 2-bed/1.5-bath single-family listed at $100k.
• At list price, monthly cash flow is $40 ($476/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#123 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Liberal (town): math 7% / reading 14% proficiency, ranked #168 of 169 in KS (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cottonwood Elementary School (math 3% / reading 17%, grade F, #656 of 684 statewide, top 96%, 498 students, 87% FRL); Eisenhower Middle School (math 9% / reading 17%, grade F, #188 of 219 statewide, top 87%, 559 students, 79% FRL); Liberal Sr High (math 7% / reading 11%, grade F, #313 of 327 statewide, top 96%, 1,353 students, 77% FRL).
• Watch-outs: property tax is 2.7% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 75 active listings in the ZIP; 23 units permitted in Seward County in 2024 (0 in 5+ unit buildings).
• Seward County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.
• 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.