411 E 5th St

Russell, KS 67665

$72,500B-

2 bd · 1.0 ba · 788 sqft · Built 1920 · SingleFamily · Active · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $840/mo
• Mortgage (P&I): −$380
• Tax + insurance: −$121
• HOA: −$0
• Vac / Maint / Mgmt: −$176
• Net cashflow: $162/mo
• Annual: $1,948/yr
• Cap rate: 8.98%
• Cash-on-cash: 9.59%
• DSCR: 1.43
• 1% rule: 1.16%
• Cash to close: $20,300

Investor read

• This is a 2-bed/1.0-bath single-family listed at $72k.
• At list price, monthly cash flow is $162 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($840 rent vs $72k).
• It's been on market 78 days — a 6% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $68k (6.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($501 loan paydown + $5k appreciation (7.3% local appreciation)).
• Location reads 69/100 on livability (#186 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools F, amenities F.
• Russell County (town): math 22% / reading 26% proficiency, ranked #144 of 169 in KS (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 44 active listings in the ZIP; 6 units permitted in Russell County in 2024 (0 in 5+ unit buildings).
• Russell County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (7.3% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.