605 Atchison St · Atchison, KS 66002

$179,900

5 bd · 1.5 ba · 3,266 sqft · SingleFamily · 87 Days on market

Built 1883 0.29 ac lot Est $356k · 49% under

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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 +25.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Key facts

• 0.29 acre lot
• Built 1883
• Listed 86 days

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Two-story floor plan; Approximately 3,266 above-grade living area; Age: 101+ years
• Construction: Brick construction; Composition roof
• Exterior features: Patio; Partial wood fencing; City lot with paved public road access

Interior

• Bedrooms: 5 total bedrooms
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Electric cooling (has central cooling)
• Interior features: Formal living room; Wood flooring; Unfinished stone/rock basement; Three fireplaces (one in dining room)

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 6.8% in Atchison — 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.

Location & tenants

• Location reads 66/100 on livability (#268 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D, employment D, amenities F.
• Atchison Public Schools (town): math 18% / reading 25% proficiency, ranked #154 of 169 in KS (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 77 active listings in the ZIP; 12 units permitted in Atchison County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Atchison County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $60k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1883 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1883 — 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. 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: 1.16% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.78%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $355,994
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 Parallel St	0.20mi	5/2.5	3,200 (-2%)	7mo	$396,800	$124	78
421 N 3rd St	0.23mi	4/2.5 (-1)	3,263 (-0%)	22mo	$375,000	$115	62
1100 Santa Fe St	0.48mi	5/2.5	3,541 (+8%)	0mo	$335,000	$95	59
929 N 4th St	0.47mi	5/2.0	2,792 (-14%)	11mo	$305,000	$109	43
501 R St	0.68mi	4/2.5 (-1)	3,304 (+1%)	19mo	$359,900	$109	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -1.6%
• Equity multiple: 0.94×
• Total profit: $-2,980
• Equity at exit: $26,824

10-year hold

• IRR: 8.1%
• Equity multiple: 1.62×
• Total profit: $31,192
• Equity at exit: $15,554

Cash invested: $50,372 (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 66002

• Active inventory: 77
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,093 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $410

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 75%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $179,900 Active 87 DOM
2. 2026-06-17
   days on market $179,900 Active 86 DOM
3. 2026-06-16
   days on market $179,900 Active 85 DOM
4. 2026-06-15
   days on market $179,900 Active 84 DOM
5. 2026-06-13
   days on market $179,900 Active 82 DOM
6. 2026-06-13
   pricedays on market $179,900 Active 81 DOM
7. 2026-06-09
   days on market $189,000 Active 78 DOM
8. 2026-06-08
   days on market $189,000 Active 77 DOM
9. 2026-06-07
   days on market $189,000 Active 76 DOM
10. 2026-06-05
    days on market $189,000 Active 73 DOM
11. 2026-06-03
    days on market $189,000 Active 72 DOM
12. 2026-06-02
    days on market $189,000 Active 71 DOM
13. 2026-06-01
    days on market $189,000 Active 70 DOM
14. 2026-05-31
    days on market $189,000 Active 69 DOM
15. 2026-05-08
    price $189,000
16. 2026-04-22
    price $199,000
17. 2026-04-21
    price $208,999
18. 2026-04-10
    price $219,999
19. 2026-03-24
    listed $239,999 Active
20. 2026-03-04
    historical $239,999
21. 2026-01-08
    historical
22. 2026-01-08
    listed $230,000 Active
23. 2025-12-18
    historical
24. 2025-06-16
    historical
25. 2025-06-16
    listed $230,000 Active
26. 2023-08-31
    soldstatus Closed
27. 2023-07-18
    status Pending
28. 2023-07-13
    listed $244,950 Active
29. 2015-08-28
    historical
30. 2015-01-16
    listed $49,900

ⓘ 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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥108°F today · 17 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: $25,119
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$2,010
• − Management: −$2,010
• − Depreciation: −$5,233
• Taxable income: $2,191
• Est. tax owed @ 24.0%: −$526
• After-tax cash flow: $4,399/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: Atchison Public Schools
• NCES district ID: 2003540
• Math proficiency: 18% ▼ -7.00%
• Reading proficiency: 25% ▼ -6.00%
• Median HH income: $43,220
• Composite: 18.48/100
• National rank: #8922
• State rank: #154 of 169 in KS

Livability — Atchison

• Score: 66/100
• State rank: #268
• US rank: #12122

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atchison, KS
• County: Atchison County · 13,276 people
• City population: 13,276
• Metro: Atchison, KS
• Population (ZIP): 13,276
• Household income: $61,364
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 228.0

Population outlook (Atchison County) Hauer SSP2

• Today (2025): 16,056 people
• By 2030: 15,610 · -2.8%
• By 2040: 14,691 · -8.5%
• By 2050: 13,856 · -13.7%
• By 2075: 12,402 · -22.8%
• By 2100: 10,883 · -32.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Black 5% Hispanic / Latino 4%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Atchison

• 2024 margin: Solid R (+37.4) · D 30.3% · R 67.7% · Other 2.0%
• 2008→2024 swing: -29.7pp toward R · 2008: -7.7pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+34.4 2016: R+31.8 2012: R+20.8 2008: R+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -252.16%
• Current HPI: 192.1037
• Rent YoY: —
• Metro: Atchison, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+278.8% since first listed

16 events — show timeline

• 2026-05-08 Price Changed $189,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-22 Price Changed $199,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-21 Price Changed $208,999 Heartland MLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $219,999 Heartland MLS as Distributed by MLS Grid
• 2026-03-24 Listed $239,999 Heartland MLS as Distributed by MLS Grid
• 2026-03-04 Coming Soon $239,999 Heartland MLS as Distributed by MLS Grid
• 2026-01-08 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-01-08 Listed $230,000 Heartland MLS as Distributed by MLS Grid
• 2025-12-18 Coming Soon — Heartland MLS as Distributed by MLS Grid
• 2025-06-16 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-06-16 Listed $230,000 Heartland MLS as Distributed by MLS Grid
• 2023-08-31 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2023-07-18 Pending — Heartland MLS as Distributed by MLS Grid
• 2023-07-13 Listed $244,950 Heartland MLS as Distributed by MLS Grid
• 2015-08-28 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2015-01-16 Listed $49,900 Heartland MLS as Distributed by MLS Grid