106 Haines St Unit M-30

Edwardsville, KS 66113

$47,000B

3 bd · 2.0 ba · 1,056 sqft · Built 2026 · Manufactured · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,115/mo
• Mortgage (P&I): −$246
• Tax + insurance: −$78
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $556/mo
• Annual: $6,676/yr
• Cap rate: 20.50%
• Cash-on-cash: 50.73%
• DSCR: 3.26
• 1% rule: 2.37%
• Cash to close: $13,160

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $47k. Condition is rated poor.
• At list price, monthly cash flow is $556 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $47k).
• It's been on market 48 days — a 3% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $46k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($325 loan paydown + $1k appreciation (3.0% local appreciation)).
• Location reads 65/100 on livability (#289 in KS) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Bonner Springs (suburban): math 21% / reading 29% proficiency, ranked #131 of 169 in KS (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 15 active listings in the ZIP; 369 units permitted in Wyandotte County in 2024 (236 in 5+ unit buildings).
• Wyandotte County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 20.5% vs local median 3.7% in Edwardsville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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.

Repairs flagged (vision-AI assessment)

• Major: roof — Signs of wear and discoloration suggest significant damage.
• Major: siding — Peeling paint and siding indicate severe deterioration.
• Major: flooring — Worn flooring suggests it needs replacement.
• Major: HVAC — Old unit may need replacement for efficiency and comfort.
• Major: paint — Peeling paint on walls and exterior suggests extensive repainting is needed.
• Major: landscaping — Sparse and unkempt landscaping needs significant improvement to enhance curb appeal.