116 N Fourth St · Madison, KS 66860

$110,000

2 bd · 1.0 ba · 1,348 sqft · SingleFamily public records · 157 Days on market

Built 1900 8,712 sqft lot

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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 +17.1/30.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 1% rule +4.6/10.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Insulated garage
• New flooring
• New hot water heater

Tags

• NEW EXTERIOR LP SIDING
• NEW PORCH AND HANDRAILS
• NEW FLOORING
• KITCHEN COUNTERTOPS
• NEW HOT WATER HEATER
• INSULATED GARAGE

Property features AI

Exterior

• Parking: Detached garage; Garage door opener; Carport; 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single family residence (single house)
• Construction: Frame and plaster construction
• Exterior features: Corner lot; Lot roughly 55 x 88 (0.2 acre)

Interior

• Kitchen: Gas range; Range hood; Dishwasher; Refrigerator; Disposal
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning
• Interior features: Eat-in kitchen; Concrete and crawl space basement
• Laundry & utility: Laundry on the main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $76 ($912/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 $106k (3.8% below list).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#318 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• Madison-Virgil (rural): math 45% / reading 45% proficiency, ranked #32 of 280 in KS (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Madison High (math 24% / reading 15%, grade F, #198 of 327 statewide, top 66%, 95 students, 48% FRL).
• Zoned-school proficiency averages 20% at this address vs 45% district-wide (-25 pts) — the specific schools serving this property underperform the Madison-Virgil average; the district grade overstates school quality for this exact location.
• Market conditions: 11 active listings in the ZIP; 3 units permitted in Greenwood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($761 loan paydown + $8k appreciation (6.9% local appreciation)).
• Greenwood County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.9% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $110k implies a 450% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 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 1900 — 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 F 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: 0.96% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.96%
• DSCR: 1.13
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 2.37×
• Total profit: $42,325
• Equity at exit: $75,222

10-year hold

• IRR: 18.7%
• Equity multiple: 4.88×
• Total profit: $119,536
• Equity at exit: $141,986

Cash invested: $30,800 (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 66860

• Home prices YoY: 4.1%
• Active inventory: 11
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,058 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $76

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 88%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $110,000 Active 157 DOM
2. 2026-06-17
   price $110,000 Active 156 DOM
3. 2026-06-17
   days on market $120,000 Active 156 DOM
4. 2026-06-16
   days on market $120,000 Active 155 DOM
5. 2026-06-15
   days on market $120,000 Active 154 DOM
6. 2026-06-13
   days on market $120,000 Active 152 DOM
7. 2026-06-12
   days on market $120,000 Active 151 DOM
8. 2026-06-09
   days on market $120,000 Active 148 DOM
9. 2026-06-08
   days on market $120,000 Active 147 DOM
10. 2026-06-07
    days on market $120,000 Active 146 DOM
11. 2026-06-05
    days on market $120,000 Active 144 DOM
12. 2026-06-04
    days on market $120,000 Active 142 DOM
13. 2026-06-02
    days on market $120,000 Active 141 DOM
14. 2026-06-01
    days on market $120,000 Active 140 DOM
15. 2026-05-31
    days on market $120,000 Active 139 DOM
16. 2026-05-31
    days on market $120,000 Active 138 DOM
17. 2026-05-11
    price $132,000
18. 2026-03-02
    price $145,000
19. 2026-01-13
    listed $220,000 Active
20. 2009-03-01
    soldstatus $20,000

ⓘ 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 FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,702
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,016
• − Management: −$1,016
• − Depreciation: −$3,200
• Taxable loss: −$892
• Est. tax savings @ 24.0%: +$214
• After-tax cash flow: $1,126/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: Madison-Virgil
• NCES district ID: 2009090
• Math proficiency: 45% ▲ 5.00%
• Reading proficiency: 45% ▲ 5.00%
• Median HH income: $40,771
• Composite: 39.98/100
• National rank: #7896
• State rank: #32 of 280 in KS

Livability — Madison

• Score: 64/100
• State rank: #318
• US rank: #14619

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, KS
• Population (ZIP): 1,391

Population outlook (Greenwood County) Hauer SSP2

• Today (2025): 5,505 people
• By 2030: 5,103 · -7.3%
• By 2040: 4,287 · -22.1%
• By 2050: 3,576 · -35.0%
• By 2075: 2,370 · -56.9%
• By 2100: 1,459 · -73.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 3% Black 1%
• Common ancestry: Slovak 4% Italian 2% Lithuanian 1%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Greenwood

• 2024 margin: Solid R (+61.0) · D 18.8% · R 79.7% · Other 1.5%
• 2008→2024 swing: -17.2pp toward R · 2008: -43.8pp · 2024: -61.0pp
• All cycles: 2024: R+61.0 2020: R+60.8 2016: R+59.1 2012: R+49.3 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.86%
• Current HPI: 175.5345
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+560.0% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $132,000 Sunflower MLS as distributed by MLS GRID
• 2026-03-02 Price Changed $145,000 Sunflower MLS as distributed by MLS GRID
• 2026-01-13 Listed $220,000 Sunflower MLS as distributed by MLS GRID
• 2009-03-01 Sold (Public Records) $20,000 Public Records