749 E Oakdale Ave

Russell, KS 67665

$44,500B+

3 bd · 1.5 ba · 1,121 sqft · Built 1945 · SingleFamily · Active · 238 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $979/mo
• Mortgage (P&I): −$233
• Tax + insurance: −$74
• HOA: −$0
• Vac / Maint / Mgmt: −$206
• Net cashflow: $466/mo
• Annual: $5,592/yr
• Cap rate: 18.86%
• Cash-on-cash: 44.88%
• DSCR: 3.00
• 1% rule: 2.20%
• Cash to close: $12,460

Investor read

• This is a 3-bed/1.5-bath single-family listed at $44k.
• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($979 rent vs $44k).
• It's been on market 238 days — a 12% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $39k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($308 loan paydown + $3k appreciation (7.3% local appreciation)).
• Location reads 69/100 on livability (#186 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Russell County (town): math 22% / reading 26% proficiency, ranked #144 of 169 in KS (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bickerdyke Elem (math 34% / reading 37%, grade F, #386 of 684 statewide, top 56%, 228 students, 55% FRL); Ruppenthal Middle (math 12% / reading 17%, grade F, #180 of 219 statewide, top 83%, 186 students, 59% FRL); Russell High (math 15% / reading 15%, grade F, #249 of 327 statewide, top 79%, 207 students, 55% FRL) — zoned schools average 56% FRL vs 41% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 44 active listings in the ZIP; 6 units permitted in Russell County in 2024 (0 in 5+ unit buildings).
• Russell County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $14k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (7.3% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 238 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1945 — 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.