206 W Main St · Herington, KS 67449

$125,000

3 bd · 1.0 ba · 1,390 sqft · SingleFamily public records · 114 Days on market

Built 1932 6,098 sqft lot

---

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 +21.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• Appreciation +5.1/10.0
• 1% rule +4.6/10.0
• Livability +3.5/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming & Updated Home Near Herington Lake! This well-maintained and thoughtfully updated home offers a comfortable layout with 3 bedrooms, 1 bathroom, and a versatile bonus room—perfect for a home office, hobby space, or additional sitting area. Inside, you’ll find a bright and inviting interior with numerous updates that add both style and functionality. The property features a fully fenced yard with a storage shed and separate workshop, providing excellent space for tools, projects, or extra storage. A full, dry basement offers even more room for storage or future possibilities. Located in Herington, Kansas, this home is conveniently situated just 10 minutes from Herington Lake and nearby local parks, making it easy to enjoy outdoor recreation while still being close to town amenities. This property offers a great combination of charm, updates, and practical space—an excellent opportunity for buyers looking for a move-in ready home with added flexibility.

Key facts

• Storage shed
• Near herington lake
• Updated home

Tags

• UPDATED HOME
• FULLY FENCED YARD
• STORAGE SHED
• SEPARATE WORKSHOP
• FULL DRY BASEMENT
• NEAR HERINGTON LAKE

Property features AI

Exterior

• Security: Smoke detectors
• Utilities: Public sewer available
• Home design: Onsite-built single-family home
• Construction: Composition roof; Full foundation (no egress windows)
• Exterior features: Two levels; Wood fencing; Storm windows; Satellite dish

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Range
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air; Wall/window air conditioning units
• Interior features: Gas starter fireplace; Unfinished basement; Storage space
• Laundry & utility: Laundry in basement with 220V hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (3.6% below list).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#170 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Herington (rural): math 28% / reading 33% proficiency, ranked #100 of 169 in KS (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Herington Elem (math 42% / reading 42%, grade F, #273 of 684 statewide, top 45%, 187 students, 74% FRL); Herington Middle Sch (math 22% / reading 27%, grade F, #110 of 219 statewide, top 55%, 112 students, 74% FRL); Herington High (math 5% / reading 15%, grade F, #289 of 327 statewide, top 93%, 151 students, 60% FRL) — zoned schools average 70% FRL vs 49% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 29 active listings in the ZIP; 26 units permitted in Dickinson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($864 loan paydown + $241 appreciation (0.2% local appreciation)).
• Dickinson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.2% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $23k; list at $125k implies a 443% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1932 — 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 F-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. 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.
7. 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.
8. 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: 0.96% ✗
• Cap rate: 8.05%
• Cash-on-cash: 6.27%
• DSCR: 1.28
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.19% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.26×
• Total profit: $9,088
• Equity at exit: $37,506

10-year hold

• IRR: 10.4%
• Equity multiple: 2.16×
• Total profit: $40,443
• Equity at exit: $46,062

Cash invested: $35,000 (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 67449

• Home prices YoY: 0.1%
• Active inventory: 29
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,205 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$62 /mo · $741/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $183

Break-even live

Break-even rent $974

Max offer price $125,000

Occupancy floor 80%

Sensitivity live

Price	-10% $254	-5% $218	+0% $183	+5% $147	+10% $112
Rent	-10% $88	-5% $135	+0% $183	+5% $230	+10% $278
Rate	-1.0pp $246	-0.5pp $215	base $183	+0.5pp $150	+1.0pp $118

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-18
   status Pending 998-char remark

   Show marketing remark (998 chars)

   Charming & Updated Home Near Herington Lake! This well-maintained and thoughtfully updated home offers a comfortable layout with 3 bedrooms, 1 bathroom, and a versatile bonus room—perfect for a home office, hobby space, or additional sitting area. Inside, you’ll find a bright and inviting interior with numerous updates that add both style and functionality. The property features a fully fenced yard with a storage shed and separate workshop, providing excellent space for tools, projects, or extra storage. A full, dry basement offers even more room for storage or future possibilities. Located in Herington, Kansas, this home is conveniently situated just 10 minutes from Herington Lake and nearby local parks, making it easy to enjoy outdoor recreation while still being close to town amenities. This property offers a great combination of charm, updates, and practical space—an excellent opportunity for buyers looking for a move-in ready home with added flexibility.

2. 2026-05-17
   status Pending
3. 2026-01-23
   listed $125,000 Active 998-char remark

   Show marketing remark (998 chars)

   Charming & Updated Home Near Herington Lake! This well-maintained and thoughtfully updated home offers a comfortable layout with 3 bedrooms, 1 bathroom, and a versatile bonus room—perfect for a home office, hobby space, or additional sitting area. Inside, you’ll find a bright and inviting interior with numerous updates that add both style and functionality. The property features a fully fenced yard with a storage shed and separate workshop, providing excellent space for tools, projects, or extra storage. A full, dry basement offers even more room for storage or future possibilities. Located in Herington, Kansas, this home is conveniently situated just 10 minutes from Herington Lake and nearby local parks, making it easy to enjoy outdoor recreation while still being close to town amenities. This property offers a great combination of charm, updates, and practical space—an excellent opportunity for buyers looking for a move-in ready home with added flexibility.

4. 2026-01-22
   listed $125,000 Active
5. 2020-05-22
   soldstatus 479-char remark

   Show marketing remark (479 chars)

   Single family detached Bungalow style house built in 1932. Per court records, there's 1390 square feet of living space above grade and 918 square feet of unfinished living space in the basement. The house features a living room with fireplace, kitchen, 3 bedrooms and 1 bath. The exterior has vinyl siding. The property is being sold in As Is condition. Go to www. hudhomestore.com or www. chronsosolutions.com to learn more about this home and how/ who can buy. Case #181-226248

6. 2020-01-23
   listed $25,500 479-char remark

   Show marketing remark (479 chars)

   Single family detached Bungalow style house built in 1932. Per court records, there's 1390 square feet of living space above grade and 918 square feet of unfinished living space in the basement. The house features a living room with fireplace, kitchen, 3 bedrooms and 1 bath. The exterior has vinyl siding. The property is being sold in As Is condition. Go to www. hudhomestore.com or www. chronsosolutions.com to learn more about this home and how/ who can buy. Case #181-226248

7. 1990-07-01
   soldstatus $23,000

ⓘ 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: $741 · $62/mo
• Projected year-2 tax: $1,762 · $147/mo
• Expected delta: +$1,021/yr (+$85/mo · 137.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,464
• − Mortgage interest: −$7,002
• − Property taxes: −$741
• − Insurance: −$625
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$3,636
• Taxable income: $145
• Est. tax owed @ 24.0%: −$35
• After-tax cash flow: $2,159/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: Herington
• NCES district ID: 2007110
• Math proficiency: 28% ▼ -1.00%
• Reading proficiency: 33% ▼ -2.00%
• Median HH income: $39,012
• Composite: 25.55/100
• National rank: #7429
• State rank: #100 of 169 in KS

Livability — Herington

• Score: 70/100
• State rank: #170
• US rank: #8052

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Herington, KS
• Population (ZIP): 2,756

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 (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 0% · Canada
• Languages at home: 96% English-only · Spanish 4%

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: ▲ 0.19%
• Current HPI: 146.5368
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+443.5% since first listed

7 events — show timeline

• 2026-05-18 Pending — MKMLS as distributed by MLS GRID
• 2026-05-17 Pending — SCKMLS as Distributed by MLS Grid
• 2026-01-23 Listed $125,000 MKMLS as distributed by MLS GRID
• 2026-01-22 Listed $125,000 SCKMLS as Distributed by MLS Grid
• 2020-05-22 Sold (MLS) — FHAOR as distributed by MLS GRID
• 2020-01-23 Listed $25,500 FHAOR as distributed by MLS GRID
• 1990-07-01 Sold (Public Records) $23,000 Public Records

Property tax history

-3.0%/yr

Latest (2025): $741 · +2.7% YoY. Source: county tax records.