201 S Merchant · Emporia, KS 66801

$79,990

3 bd · 1.0 ba · 848 sqft · SingleFamily public records · 67 Days on market

Built 1936 4,356 sqft lot Est $109k · 26% 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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +7.2/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom, 1 bathroom rental property.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1936

Property features AI

Finance

• Other: Property sits on approximately 0.1 acre
• Financial info: Tax information not included per instructions
• HOA & community: No HOA information listed

Exterior

• Parking: Detached 1-car garage
• Security: No security features listed
• Utilities: Public water
• Home design: Residential single-family home
• Construction: Above-grade finished living area present
• Exterior features: Composition roof; Corner lot

Interior

• Kitchen: Kitchen appliances not specifically listed
• Bedrooms: Bedrooms information not provided
• Flooring: Vinyl flooring; Laminate flooring; Carpet
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Gas water heater; Partial, unfinished basement
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($974 rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#60 in KS, #3,810 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, commute F, employment D-.
• Emporia (town): math 19% / reading 30% proficiency, ranked #146 of 169 in KS (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Riverside Elementary (math 17% / reading 22%, grade F, #593 of 684 statewide, top 89%, 424 students, 77% FRL); Emporia Middle School (math 12% / reading 24%, grade F, #164 of 219 statewide, top 76%, 900 students, 62% FRL); Emporia High (math 18% / reading 29%, grade F, #161 of 327 statewide, top 50%, 1,510 students, 51% FRL).
• Market conditions: Rents rising (+2.8%/yr); 162 active listings in the ZIP; 33 units permitted in Lyon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $554 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lyon County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $18k; list at $80k implies a 344% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,190 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 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 1936 — 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. 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: 1.22% ✓
• Cap rate: 9.23%
• Cash-on-cash: 10.50%
• DSCR: 1.47
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $108,544
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
411 S Cottonwood St	0.45mi	2/1.0 (-1)	780 (-8%)	10mo	$99,900	$128	52

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 · 2.78% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-673
• Equity at exit: $11,927

10-year hold

• IRR: 8.7%
• Equity multiple: 1.66×
• Total profit: $14,711
• Equity at exit: $6,916

Cash invested: $22,397 (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 66801

• Rents YoY: 2.8%
• Active inventory: 162
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $974 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$120 /mo · $1,445/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $196

Break-even live

Break-even rent $726

Max offer price $79,990

Occupancy floor 75%

Sensitivity live

Price	-10% $241	-5% $219	+0% $196	+5% $173	+10% $151
Rent	-10% $119	-5% $157	+0% $196	+5% $234	+10% $273
Rate	-1.0pp $236	-0.5pp $216	base $196	+0.5pp $175	+1.0pp $154

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: $19,998
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $79,990 Active 67 DOM
2. 2026-06-18
   days on market $79,990 Active 66 DOM
3. 2026-06-17
   days on market $79,990 Active 65 DOM
4. 2026-06-16
   days on market $79,990 Active 64 DOM
5. 2026-06-15
   days on market $79,990 Active 63 DOM
6. 2026-06-14
   days on market $79,990 Active 61 DOM
7. 2026-06-12
   days on market $79,990 Active 60 DOM
8. 2026-06-09
   days on market $79,990 Active 57 DOM
9. 2026-06-08
   days on market $79,990 Active 56 DOM
10. 2026-06-07
    days on market $79,990 Active 55 DOM
11. 2026-06-05
    days on market $79,990 Active 53 DOM
12. 2026-06-03
    days on market $79,990 Active 51 DOM
13. 2026-06-02
    days on market $79,990 Active 50 DOM
14. 2026-06-01
    days on market $79,990 Active 49 DOM
15. 2026-05-31
    days on market $79,990 Active 48 DOM
16. 2026-05-30
    days on market $79,990 Active 47 DOM
17. 2026-04-13
    listed $79,990 Active
18. 2025-08-18
    price $105,000
19. 2025-07-07
    price $110,000
20. 2024-08-03
    historical $800
21. 2024-07-24
    listed $800
22. 2021-09-01
    soldstatus 38-char remark

    Show marketing remark (38 chars)

    3 bedroom, 1 bathroom rental property.

23. 2021-08-26
    listed $30,000 38-char remark

    Show marketing remark (38 chars)

    3 bedroom, 1 bathroom rental property.

24. 2000-12-01
    soldstatus $18,000
25. 1995-12-01
    soldstatus $3,500

ⓘ 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: $1,445 · $120/mo
• Projected year-2 tax: $1,445 · $120/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

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 ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,683
• − Mortgage interest: −$4,481
• − Property taxes: −$1,445
• − Insurance: −$400
• − Repairs & maintenance: −$935
• − Management: −$935
• − Depreciation: −$2,327
• Taxable income: $1,161
• Est. tax owed @ 24.0%: −$279
• After-tax cash flow: $2,072/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: Emporia
• NCES district ID: 2005940
• Math proficiency: 19% ▼ -8.00%
• Reading proficiency: 30% ▼ -1.00%
• Median HH income: $36,740
• Composite: 20.34/100
• National rank: #8607
• State rank: #146 of 169 in KS

Livability — Emporia

• Score: 75/100
• State rank: #60
• US rank: #3810

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Emporia, KS
• County: Lyon County · 27,585 people
• City population: 27,585
• Metro: Emporia, KS
• Population (ZIP): 27,585
• Household income: $56,794
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1054.0

Population outlook (Lyon County) Hauer SSP2

• Today (2025): 33,170 people
• By 2030: 33,104 · -0.2%
• By 2040: 32,526 · -1.9%
• By 2050: 31,863 · -3.9%
• By 2075: 31,879 · -3.9%
• By 2100: 30,609 · -7.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 27% Two or more races 20% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Italian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 17%

Political lean MEDSL · Lyon

• 2024 margin: R (+14.7) · D 41.6% · R 56.3% · Other 2.1%
• 2008→2024 swing: -8.7pp toward R · 2008: -6.0pp · 2024: -14.7pp
• All cycles: 2024: R+14.7 2020: R+11.0 2016: R+16.2 2012: R+11.9 2008: R+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -186.93%
• Current HPI: 186.0786
• Rent YoY: ▲ 2.78%
• Metro: Emporia, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+2185.4% since first listed

9 events — show timeline

• 2026-04-13 Listed $79,990 Sunflower MLS as distributed by MLS GRID
• 2025-08-18 Price Changed $105,000 Sunflower MLS as distributed by MLS GRID
• 2025-07-07 Price Changed $110,000 Sunflower MLS as distributed by MLS GRID
• 2024-08-03 Rental Removed $800 APPFOLIO
• 2024-07-24 Listed for Rent $800 APPFOLIO
• 2021-09-01 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2021-08-26 Listed $30,000 Sunflower MLS as distributed by MLS GRID
• 2000-12-01 Sold (Public Records) $18,000 Public Records
• 1995-12-01 Sold (Public Records) $3,500 Public Records

Property tax history

+9.4%/yr

Latest (2025): $1,445 · +14.7% YoY. Source: county tax records.