322 NE 5th St · Abilene, KS 67410

$119,000

3 bd · 2.0 ba · 1,434 sqft · MultiFamily public records · 1 Days on market

Built 1945 0.26 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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• 0.26 acre lot
• Built 1945

Property features AI

Exterior

• Security: Security lights
• Utilities: Public utilities; Sewer available
• Home design: One-story property; Duplex (formerly; currently configured as single-family; can be converted back)
• Construction: Composition roof; Crawl space foundation
• Exterior features: Fenced backyard; Storage shed; Security lights

Interior

• Bedrooms: Flexible layout: originally a duplex now configured as a single-family with a 2-bed/1-bath side and a 1-bed/1-bath side (suitable for multi-generational living or rental conversion)
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Main-floor laundry; No basement
• Laundry & utility: Main-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $119k.

Deal economics

• At list price, monthly cash flow is $473 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).

Location & tenants

• Location reads 75/100 on livability (#62 in KS, #3,932 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities F, commute F.
• Abilene (town): math 25% / reading 40% proficiency, ranked #81 of 169 in KS (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kennedy Elem (267 students, 46% FRL); Abilene Middle School (math 20% / reading 40%, grade F, #64 of 219 statewide, top 32%, 338 students, 50% FRL); Abilene High School (math 17% / reading 27%, grade F, #165 of 327 statewide, top 55%, 451 students, 40% FRL).
• Market conditions: 70 active listings in the ZIP; 26 units permitted in Dickinson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Dickinson County population projected at -12% 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 $33k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $42k; list at $119k implies a 187% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,000

Questions for the listing agent

1. Built in 1945 — 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. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.36% ✓
• Cap rate: 11.06%
• Cash-on-cash: 17.04%
• DSCR: 1.76
• GRM: 6.1

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: 8.3%
• Equity multiple: 1.33×
• Total profit: $10,866
• Equity at exit: $17,743

10-year hold

• IRR: 17.6%
• Equity multiple: 2.45×
• Total profit: $48,326
• Equity at exit: $10,289

Cash invested: $33,320 (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 67410

• Home prices YoY: -16.5%
• Active inventory: 70
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $1,621 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$134 /mo · $1,606/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $473

Break-even live

Break-even rent $1,022

Max offer price $119,000

Occupancy floor 66%

Sensitivity live

Price	-10% $540	-5% $507	+0% $473	+5% $439	+10% $406
Rent	-10% $345	-5% $409	+0% $473	+5% $537	+10% $601
Rate	-1.0pp $533	-0.5pp $503	base $473	+0.5pp $442	+1.0pp $411

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,622
Total (2 units)			$1,621

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-05
   status Pending
2. 2026-05-04
   listed $119,000 Active
3. 1998-01-01
   soldstatus $41,500
4. 1994-07-01
   soldstatus $41,000

ⓘ 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: $1,606 · $134/mo
• Projected year-2 tax: $1,678 · $140/mo
• Expected delta: +$72/yr (+$6/mo · 4.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,452
• − Mortgage interest: −$6,666
• − Property taxes: −$1,606
• − Insurance: −$595
• − Repairs & maintenance: −$1,556
• − Management: −$1,556
• − Depreciation: −$3,462
• Taxable income: $4,011
• Est. tax owed @ 24.0%: −$963
• After-tax cash flow: $4,715/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: Abilene
• NCES district ID: 2003180
• Math proficiency: 25% ▼ -7.00%
• Reading proficiency: 40% ▼ -2.00%
• Median HH income: $50,477
• Composite: 28.26/100
• National rank: #6796
• State rank: #81 of 169 in KS

Livability — Abilene

• Score: 75/100
• State rank: #62
• US rank: #3932

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Abilene, KS
• Population (ZIP): 10,177

Population outlook (Dickinson County) Hauer SSP2

• Today (2025): 18,727 people
• By 2030: 18,312 · -2.2%
• By 2040: 17,433 · -6.9%
• By 2050: 16,493 · -11.9%
• By 2075: 14,441 · -22.9%
• By 2100: 11,707 · -37.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 4%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Dickinson

• 2024 margin: Solid R (+55.0) · D 21.8% · R 76.7% · Other 1.5%
• 2008→2024 swing: -12.8pp toward R · 2008: -42.2pp · 2024: -55.0pp
• All cycles: 2024: R+55.0 2020: R+54.1 2016: R+54.0 2012: R+47.7 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.84%
• Current HPI: 161.2453
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+190.2% since first listed

4 events — show timeline

• 2026-05-05 Pending — SCKMLS as Distributed by MLS Grid
• 2026-05-04 Listed $119,000 SCKMLS as Distributed by MLS Grid
• 1998-01-01 Sold (Public Records) $41,500 Public Records
• 1994-07-01 Sold (Public Records) $41,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,606 · +5.9% YoY. Source: county tax records.