148 N Main St · Falun, KS 67442

$30,000

2 bd · 1.0 ba · 954 sqft · SingleFamily public records · 30 Days on market

Built 1921 0.25 ac lot

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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
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.0/5.0

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 1921

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; Residential property
• Construction: Composition roof; Other construction materials
• Exterior features: Partial fencing; Shed(s), outbuilding, garage(s) and additional storage on the property

Interior

• Kitchen: Oven; Range
• Bedrooms: One main-level bedroom
• Flooring: Laminate
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Electric heating; Natural gas heating
• Interior features: Breakfast bar; Partially finished basement; Crawl space
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($878 rent vs $30k).
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 40/100 on livability (#663 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety D+, amenities F, commute F.
• Smoky Valley (town): math 29% / reading 40% proficiency, ranked #58 of 169 in KS (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Soderstrom Elem (math 57% / reading 52%, grade C, #107 of 684 statewide, top 18%, 321 students, 35% FRL); Smoky Valley Middle School (math 23% / reading 37%, grade F, #64 of 219 statewide, top 32%, 246 students, 37% FRL); Smoky Valley High (math 12% / reading 32%, grade F, #165 of 327 statewide, top 55%, 253 students, 33% FRL) — zoned schools average 35% FRL vs 19% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1 active listings in the ZIP; 293 units permitted in Saline County in 2024 (186 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($207 loan paydown + $900 appreciation (3.0% local appreciation)).
• Saline County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 1921 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,550 (1.5% below list)

Questions for the listing agent

1. Built in 1921 — 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 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?
4. 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.
5. 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.
6. 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: 2.93% ✓
• Cap rate: 25.56%
• Cash-on-cash: 68.83%
• DSCR: 4.06
• GRM: 2.8

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: 73.5%
• Equity multiple: 5.09×
• Total profit: $34,315
• Equity at exit: $13,489

10-year hold

• IRR: 73.0%
• Equity multiple: 10.43×
• Total profit: $79,182
• Equity at exit: $20,789

Cash invested: $8,400 (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 67442

• Active inventory: 1
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $878 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$42 /mo · $506/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $482

Break-even live

Break-even rent $268

Max offer price $30,000

Occupancy floor 40%

Sensitivity live

Price	-10% $499	-5% $490	+0% $482	+5% $473	+10% $465
Rent	-10% $412	-5% $447	+0% $482	+5% $516	+10% $551
Rate	-1.0pp $497	-0.5pp $489	base $482	+0.5pp $474	+1.0pp $466

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $30,000 Active 30 DOM
2. 2026-06-19
   days on market $30,000 Active 28 DOM
3. 2026-06-18
   days on market $30,000 Active 27 DOM
4. 2026-06-17
   days on market $30,000 Active 26 DOM
5. 2026-06-16
   days on market $30,000 Active 25 DOM
6. 2026-06-15
   days on market $30,000 Active 24 DOM
7. 2026-06-14
   days on market $30,000 Active 22 DOM
8. 2026-06-12
   days on market $30,000 Active 21 DOM
9. 2026-06-09
   days on market $30,000 Active 18 DOM
10. 2026-06-08
    days on market $30,000 Active 17 DOM
11. 2026-06-07
    days on market $30,000 Active 16 DOM
12. 2026-06-02
    days on market $30,000 Active 11 DOM
13. 2026-06-01
    days on market $30,000 Active 10 DOM
14. 2026-05-31
    days on market $30,000 Active 9 DOM
15. 2026-05-30
    days on market $30,000 Active 8 DOM
16. 2026-05-18
    listed $30,000 Active
17. 2026-04-20
    historical
18. 2026-03-16
    status Active
19. 2026-02-27
    status Pending
20. 2026-01-18
    price $30,000
21. 2026-01-18
    price $30,000
22. 2025-11-18
    listed $44,500 Active
23. 1995-06-01
    soldstatus $29,900

ⓘ 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: $506 · $42/mo
• Projected year-2 tax: $506 · $42/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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,539
• − Mortgage interest: −$1,680
• − Property taxes: −$506
• − Insurance: −$150
• − Repairs & maintenance: −$843
• − Management: −$843
• − Depreciation: −$873
• Taxable income: $5,643
• Est. tax owed @ 24.0%: −$1,354
• After-tax cash flow: $4,427/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: Smoky Valley
• NCES district ID: 2000002
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 40% ▼ -2.00%
• Median HH income: $53,928
• Composite: 30.27/100
• National rank: #6284
• State rank: #58 of 169 in KS

Livability — Falun

• Score: 40/100
• State rank: #663
• US rank: #27284

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Falun, KS
• Population (ZIP): 179

Population outlook (Saline County) Hauer SSP2

• Today (2025): 55,099 people
• By 2030: 54,446 · -1.2%
• By 2040: 52,572 · -4.6%
• By 2050: 50,362 · -8.6%
• By 2075: 45,522 · -17.4%
• By 2100: 40,059 · -27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 59% Two or more races 38% Hispanic / Latino 15% Native American 3%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Portuguese 10%

Political lean MEDSL · Saline

• 2024 margin: Solid R (+31.6) · D 33.3% · R 64.9% · Other 1.8%
• 2008→2024 swing: -5.3pp toward R · 2008: -26.2pp · 2024: -31.6pp
• All cycles: 2024: R+31.6 2020: R+30.5 2016: R+34.3 2012: R+32.2 2008: R+26.2

Not yet ingested

• Civics: —

Market trends

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

Price history

+0.3% since first listed

8 events — show timeline

• 2026-05-18 Listed $30,000 FHAOR as distributed by MLS GRID
• 2026-04-20 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2026-03-16 Relisted — SCKMLS as Distributed by MLS Grid
• 2026-02-27 Pending — SCKMLS as Distributed by MLS Grid
• 2026-01-18 Price Changed $30,000 FHAOR as distributed by MLS GRID
• 2026-01-18 Price Changed $30,000 SCKMLS as Distributed by MLS Grid
• 2025-11-18 Listed $44,500 SCKMLS as Distributed by MLS Grid
• 1995-06-01 Sold (Public Records) $29,900 Public Records

Property tax history

-0.6%/yr

Latest (2025): $506 · +8.0% YoY. Source: county tax records.