501 N Ash St · McPherson, KS 67460

$147,900

4 bd · 2.0 ba · 1,560 sqft · SingleFamily public records · 45 Days on market

Built 1880 6,970 sqft lot

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Why this score? — see what drove the C- 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 +22.7/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.7/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lots of space for the money! This is your chance to own one of the first homes built in McPherson! Built in 1880, 501 S Ash has so much charm and is centrally located. There is a main floor bedroom and bathroom, large wrap around porch, two car detached garage, brand new roof and siding, all it needs is your personal touch! Upstairs you will find three bedrooms and another spacious bathroom. Call today to take a look at this awesome property!

Key facts

• Wrap around porch
• New siding
• New hvac

Tags

• WRAP AROUND PORCH
• NEW HVAC
• NEW ROOF
• NEW SIDING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).
• Recommended offer: $143k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 81/100 on livability (#12 in KS, #1,567 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Mcpherson (town): math 25% / reading 32% proficiency, ranked #103 of 169 in KS (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mcpherson Middle School (math 21% / reading 27%, grade F, #121 of 219 statewide, top 56%, 492 students, 42% FRL); Mcpherson High (math 22% / reading 22%, grade F, #165 of 327 statewide, top 55%, 709 students, 36% FRL).
• Market conditions: 149 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 102 units permitted in McPherson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• McPherson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y ago 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.
• Current owner paid $85k; list at $148k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $143,463 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.07% ✓
• Cap rate: 8.36%
• Cash-on-cash: 7.37%
• DSCR: 1.33
• GRM: 7.8

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: -5.0%
• Equity multiple: 0.81×
• Total profit: $-7,750
• Equity at exit: $22,052

10-year hold

• IRR: 4.7%
• Equity multiple: 1.34×
• Total profit: $14,164
• Equity at exit: $12,788

Cash invested: $41,412 (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 67460

• Active inventory: 149
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,590 medium
• Mortgage (P&I): −$776
• Tax from tax record: −$164 /mo · $1,970/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $254

Break-even live

Break-even rent $1,268

Max offer price $147,900

Occupancy floor 79%

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: $36,975
• Closing costs: $4,437
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 Laurel Ct McPherson, KS	3.0	2.0	1596	$1,475	$0.92	13d	1	0.94mi
507 E Northview Ave McPherson, KS	1.0–3.0	1.0–2.0	900	$1,165	$1.29	13d	5	1.28mi
1323 Eastlinks Ct McPherson, KS	3.0	2.0	1350	$2,500	$1.85	23d	1	1.42mi
1909 Millers Ln Unit 434 McPherson, KS	3.0	2.0	1153	$1,000	$0.87	23d	1	1.44mi

Listing history 25 events

1. 2026-06-19
   days on market $147,900 Active 45 DOM
2. 2026-06-18
   days on market $147,900 Active 44 DOM
3. 2026-06-17
   days on market $147,900 Active 43 DOM
4. 2026-06-16
   days on market $147,900 Active 42 DOM
5. 2026-06-15
   days on market $147,900 Active 41 DOM
6. 2026-06-14
   pricedays on market $147,900 Active 39 DOM
7. 2026-06-12
   days on market $149,900 Active 38 DOM
8. 2026-06-09
   days on market $149,900 Active 35 DOM
9. 2026-06-08
   days on market $149,900 Active 34 DOM
10. 2026-06-07
    days on market $149,900 Active 33 DOM
11. 2026-06-05
    days on market $149,900 Active 31 DOM
12. 2026-06-04
    days on market $149,900 Active 29 DOM
13. 2026-06-02
    days on market $149,900 Active 28 DOM
14. 2026-06-01
    days on market $149,900 Active 27 DOM
15. 2026-05-31
    days on market $149,900 Active 26 DOM
16. 2026-05-31
    days on market $149,900 Active 25 DOM
17. 2026-04-23
    status Pending
18. 2026-03-31
    listed $149,900 Active
19. 2021-04-30
    soldstatus 446-char remark

    Show marketing remark (446 chars)

    Lots of space for the money! This is your chance to own one of the first homes built in McPherson! Built in 1880, 501 S Ash has so much charm and is centrally located. There is a main floor bedroom and bathroom, large wrap around porch, two car detached garage, brand new roof and siding, all it needs is your personal touch! Upstairs you will find three bedrooms and another spacious bathroom. Call today to take a look at this awesome property!

20. 2020-10-20
    listed $119,900 446-char remark

    Show marketing remark (446 chars)

    Lots of space for the money! This is your chance to own one of the first homes built in McPherson! Built in 1880, 501 S Ash has so much charm and is centrally located. There is a main floor bedroom and bathroom, large wrap around porch, two car detached garage, brand new roof and siding, all it needs is your personal touch! Upstairs you will find three bedrooms and another spacious bathroom. Call today to take a look at this awesome property!

21. 2005-11-01
    soldstatus $85,000
22. 2004-05-01
    soldstatus $75,000
23. 2002-04-12
    listed $71,900
24. 2001-08-16
    listed $74,900
25. 2000-06-01
    soldstatus $75,000

ⓘ 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: $1,970 · $164/mo
• Projected year-2 tax: $2,085 · $174/mo
• Expected delta: +$115/yr (+$10/mo · 5.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,077
• − Mortgage interest: −$8,285
• − Property taxes: −$1,970
• − Insurance: −$740
• − Repairs & maintenance: −$1,526
• − Management: −$1,526
• − Depreciation: −$4,303
• Taxable income: $727
• Est. tax owed @ 24.0%: −$174
• After-tax cash flow: $2,879/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: Mcpherson
• NCES district ID: 2009390
• Math proficiency: 25% ▼ -3.00%
• Reading proficiency: 32% ▲ 1.00%
• Median HH income: $54,750
• Composite: 25.39/100
• National rank: #7468
• State rank: #103 of 169 in KS

Livability — McPherson

• Score: 81/100
• State rank: #12
• US rank: #1567

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McPherson, KS
• County: McPherson County · 16,348 people
• City population: 16,348
• Metro: McPherson, KS
• Population (ZIP): 16,348
• Household income: $80,720
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 492.0

Population outlook (McPherson County) Hauer SSP2

• Today (2025): 28,958 people
• By 2030: 28,735 · -0.8%
• By 2040: 28,020 · -3.2%
• By 2050: 27,276 · -5.8%
• By 2075: 26,211 · -9.5%
• By 2100: 23,976 · -17.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 4% Iranian 3% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · McPherson

• 2024 margin: Solid R (+41.1) · D 28.5% · R 69.6% · Other 1.9%
• 2008→2024 swing: -5.8pp toward R · 2008: -35.3pp · 2024: -41.1pp
• All cycles: 2024: R+41.1 2020: R+40.3 2016: R+42.0 2012: R+41.6 2008: R+35.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -216.18%
• Current HPI: 155.3302
• Rent YoY: —
• Metro: McPherson, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+99.9% since first listed

9 events — show timeline

• 2026-04-23 Pending — MKMLS as distributed by MLS GRID
• 2026-03-31 Listed $149,900 MKMLS as distributed by MLS GRID
• 2021-04-30 Sold (MLS) — MKMLS as distributed by MLS GRID
• 2020-10-20 Listed $119,900 MKMLS as distributed by MLS GRID
• 2005-11-01 Sold (Public Records) $85,000 Public Records
• 2004-05-01 Sold (Public Records) $75,000 Public Records
• 2002-04-12 Listed $71,900 MKMLS as distributed by MLS GRID
• 2001-08-16 Listed $74,900 MKMLS as distributed by MLS GRID
• 2000-06-01 Sold (Public Records) $75,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,970 · +2.8% YoY. Source: county tax records.