213 N Sedgwick Ave

Haven, KS 67543

$114,700D

2 bd · 1.0 ba · 806 sqft · Built 1930 · SingleFamily · Active · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $850/mo
• Mortgage (P&I): −$601
• Tax + insurance: −$153
• HOA: −$0
• Vac / Maint / Mgmt: −$178
• Net cashflow: $-83/mo
• Annual: $-992/yr
• Cap rate: 5.43%
• Cash-on-cash: -3.09%
• DSCR: 0.86
• 1% rule: 0.74%
• Cash to close: $32,116

Investor read

• This is a 2-bed/1.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $-83 ($-992/yr) — negative.
• To cash-flow at today's rent, offer at most $100k (12.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $85k (25.9% below list).
• It's been on market 53 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $85k (25.9% below list) — sets the bar for 1% rule.
• In year one you build about $12k of equity ($793 loan paydown + $11k appreciation (10.0% local appreciation)).
• Location reads 74/100 on livability (#86 in KS, #4,863 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Haven Public Schools (rural): math 27% / reading 34% proficiency, ranked #94 of 169 in KS (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Haven Elem (math 37% / reading 37%, grade F, #358 of 684 statewide, top 56%, 390 students, 52% FRL); Haven Middle School (math 22% / reading 27%, grade F, #110 of 219 statewide, top 55%, 91 students, 44% FRL); Haven High (math 5% / reading 24%, grade F, #260 of 327 statewide, top 81%, 234 students, 43% FRL).
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 18 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 40 units permitted in Reno County in 2024 (0 in 5+ unit buildings).
• Reno County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $13k; list at $115k implies a 782% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.