406 N Pine St · Pratt, KS 67124

$69,500

2 bd · 1.0 ba · 1,079 sqft · SingleFamily public records · 267 Days on market

Built 1920 6,534 sqft 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 +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect starter home or investment property. This is a lot of house and priced to sell. The living room that flows into the dining room are open and very spacious for plenty of room for the whole family. The kitchen is nice size and offers a pantry area right beside. The bath has had some updates. Both bedrooms are nice size, also. Updated, AC system and new water heater. Owner has made many improvements. The front porch is covered to enjoy those summer evenings. The home has steel siding for low maintenance. Large backyard and single car detached garage in back.

Key facts

• Wood floors
• Window seat
• Updated vanity

Tags

• WOOD FLOORS
• WINDOW SEAT
• JACK AND JILL CLOSET
• UPDATED VANITY
• WALK-IN PANTRY
• VINYL INSULATED WINDOWS

Property features AI

Finance

• Other: Lot dimensions approximately 50 x 130 (0.15 acres)

Exterior

• Parking: Detached or on-site parking with alley access; 1 garage space (1 total parking space)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Frame construction with metal siding; Composition roof; Partial finished basement
• Exterior features: Covered patio/porch; No fencing; Paved road access

Interior

• Kitchen: Electric range
• Bedrooms: 2 main level bedrooms
• Flooring: Laminate; Vinyl; Wood
• Bathrooms: 1 full main level bathroom
• Heating & cooling: Natural gas heating; Central air; Ceiling fan(s); Electric cooling
• Interior features: Finished partial basement with crawl space; Covered porch; Storm door(s)
• Laundry & utility: Laundry located on lower level; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($947 rent vs $70k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#44 in KS, #3,279 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D, amenities F.
• Pratt (town): math 31% / reading 37% proficiency, ranked #69 of 169 in KS (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Southwest Elem (math 52% / reading 47%, grade D, #165 of 684 statewide, top 28%, 525 students, 46% FRL); Liberty Middle School (math 23% / reading 36%, grade F, #72 of 219 statewide, top 38%, 329 students, 54% FRL); Pratt Sr High (math 22% / reading 22%, grade F, #165 of 327 statewide, top 55%, 325 students, 43% FRL).
• Market conditions: 52 active listings in the ZIP; 4 units permitted in Pratt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $481 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Pratt County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 267 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $70k implies a 379% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 267 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.36% ✓
• Cap rate: 10.92%
• Cash-on-cash: 16.52%
• DSCR: 1.74
• 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: 7.6%
• Equity multiple: 1.30×
• Total profit: $5,816
• Equity at exit: $10,363

10-year hold

• IRR: 16.9%
• Equity multiple: 2.39×
• Total profit: $27,095
• Equity at exit: $6,009

Cash invested: $19,460 (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 67124

• Home prices YoY: -31.6%
• Active inventory: 52
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $947 medium
• Mortgage (P&I): −$364
• Tax est. 1.5%: −$87 /mo · $1,042/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $268

Break-even live

Break-even rent $608

Max offer price $69,500

Occupancy floor 67%

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $69,500 Active 267 DOM
2. 2026-06-17
   days on market $69,500 Active 266 DOM
3. 2026-06-16
   days on market $69,500 Active 265 DOM
4. 2026-06-15
   days on market $69,500 Active 264 DOM
5. 2026-06-13
   days on market $69,500 Active 262 DOM
6. 2026-06-12
   days on market $69,500 Active 261 DOM
7. 2026-06-09
   days on market $69,500 Active 258 DOM
8. 2026-06-09
   status $69,500 Active 257 DOM
9. 2026-06-08
   days on market $69,500 Active Under Contract 257 DOM
10. 2026-06-07
    days on market $69,500 Active Under Contract 256 DOM
11. 2026-06-05
    days on market $69,500 Active Under Contract 254 DOM
12. 2026-06-04
    days on market $69,500 Active Under Contract 252 DOM
13. 2026-06-02
    days on market $69,500 Active Under Contract 251 DOM
14. 2026-06-01
    days on market $69,500 Active Under Contract 250 DOM
15. 2026-05-31
    days on market $69,500 Active Under Contract 249 DOM
16. 2026-05-31
    days on market $69,500 Active Under Contract 248 DOM
17. 2026-05-01
    historical Active Under Contract
18. 2026-03-10
    price $69,500
19. 2025-09-24
    listed $74,500 Active
20. 2013-07-24
    soldstatus 569-char remark

    Show marketing remark (569 chars)

    Perfect starter home or investment property. This is a lot of house and priced to sell. The living room that flows into the dining room are open and very spacious for plenty of room for the whole family. The kitchen is nice size and offers a pantry area right beside. The bath has had some updates. Both bedrooms are nice size, also. Updated, AC system and new water heater. Owner has made many improvements. The front porch is covered to enjoy those summer evenings. The home has steel siding for low maintenance. Large backyard and single car detached garage in back.

21. 2013-05-15
    listed $39,900 569-char remark

    Show marketing remark (569 chars)

    Perfect starter home or investment property. This is a lot of house and priced to sell. The living room that flows into the dining room are open and very spacious for plenty of room for the whole family. The kitchen is nice size and offers a pantry area right beside. The bath has had some updates. Both bedrooms are nice size, also. Updated, AC system and new water heater. Owner has made many improvements. The front porch is covered to enjoy those summer evenings. The home has steel siding for low maintenance. Large backyard and single car detached garage in back.

22. 2001-06-01
    soldstatus $14,500
23. 1992-07-01
    soldstatus $9,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 18 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: $11,365
• − Mortgage interest: −$3,893
• − Property taxes: −$1,042
• − Insurance: −$348
• − Repairs & maintenance: −$909
• − Management: −$909
• − Depreciation: −$2,022
• Taxable income: $2,242
• Est. tax owed @ 24.0%: −$538
• After-tax cash flow: $2,677/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: Pratt
• NCES district ID: 2010890
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 37% ▲ 2.00%
• Median HH income: $46,198
• Composite: 29.14/100
• National rank: #6583
• State rank: #69 of 169 in KS

Livability — Pratt

• Score: 76/100
• State rank: #44
• US rank: #3279

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pratt, KS
• Population (ZIP): 7,822

Population outlook (Pratt County) Hauer SSP2

• Today (2025): 9,946 people
• By 2030: 10,018 · +0.7%
• By 2040: 10,264 · +3.2%
• By 2050: 10,693 · +7.5%
• By 2075: 12,041 · +21.1%
• By 2100: 12,973 · +30.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 7% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 3% Italian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Pratt

• 2024 margin: Solid R (+51.5) · D 23.4% · R 74.8% · Other 1.8%
• 2008→2024 swing: -15.0pp toward R · 2008: -36.5pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+52.7 2016: R+54.0 2012: R+46.8 2008: R+36.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.47%
• Current HPI: 143.6335
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+672.2% since first listed

7 events — show timeline

• 2026-05-01 Contingent — MKMLS as distributed by MLS GRID
• 2026-03-10 Price Changed $69,500 MKMLS as distributed by MLS GRID
• 2025-09-24 Listed $74,500 MKMLS as distributed by MLS GRID
• 2013-07-24 Sold (MLS) — MKMLS as distributed by MLS GRID
• 2013-05-15 Listed $39,900 MKMLS as distributed by MLS GRID
• 2001-06-01 Sold (Public Records) $14,500 Public Records
• 1992-07-01 Sold (Public Records) $9,000 Public Records