81 Eureka Lake Rd · Eureka, KS 67045

$99,000

3 bd · 2.0 ba · 1,040 sqft · Manufactured public records · 263 Days on market

Built 1998 1.00 ac lot $100/mo HOA · 11% of rent

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Why this score? — see what drove the D+ 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 +11.3/30.0
• Appreciation +9.8/10.0
• ARV discount +7.5/15.0
• 1% rule +4.6/10.0
• Livability +3.5/5.0
• DSCR +3.3/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 1 acre lot
• Garage
• Built 1998

Property features AI

Finance

• Other: Property overlooks the far west end of the lake; directions note the home sits on a hill with lake views
• HOA & community: Property is in an association; Annual association fee of $1,200 with a $300 initiation fee; Association fee covers general upkeep for common areas

Exterior

• Parking: No specific parking details provided
• Utilities: Propane service; Rural water; Septic tank
• Home design: Single-family offsite-built home; Single-story
• Construction: Metal roof; No foundation noted
• Exterior features: Patio and deck; Chain-link fencing; Storage outbuilding on site

Interior

• Kitchen: Includes dishwasher, refrigerator, and range
• Bedrooms: One-level home
• Flooring: Laminate flooring throughout
• Bathrooms: 2 full bathrooms
• Heating & cooling: Floor furnace heating (propane); Central air conditioning (electric)
• Interior features: Dishwasher, Refrigerator, Range; Fireplace in the living room; Main-floor laundry room with 220V outlet; No basement
• Laundry & utility: Main-floor laundry in a separate room with 220V equipment

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $99k.

Deal economics

• At list price, monthly cash flow is $-36 ($-426/yr) — negative.
• To cash-flow at today's rent, offer at most $94k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (4.3% below list).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#192 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities F, commute F, employment F.
• Eureka (rural): math 28% / reading 39% proficiency, ranked #86 of 169 in KS (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marshall Elementary School (math 37% / reading 42%, grade F, #321 of 684 statewide, top 52%, 307 students, 67% FRL); Eureka Jr/Sr High (math 22% / reading 37%, grade F, #60 of 327 statewide, top 24%, 252 students, 56% FRL).
• Market conditions: 23 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 $10k of equity ($684 loan paydown + $9k appreciation (9.5% 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 (9.5% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 263 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y ago; this cycle's ask has dropped $28k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 263 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 5.86%
• Cash-on-cash: -1.54%
• DSCR: 0.93
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.51% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.2%
• Equity multiple: 2.75×
• Total profit: $48,397
• Equity at exit: $85,639

10-year hold

• IRR: 20.0%
• Equity multiple: 6.18×
• Total profit: $143,648
• Equity at exit: $181,034

Cash invested: $27,720 (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 67045

• Home prices YoY: 5.5%
• Active inventory: 23
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $948 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$100
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $-36

Break-even live

Break-even rent $993

Max offer price $93,861

Occupancy floor 99%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $100 · $1,200/yr

Listing history 37 events

1. 2026-06-18
   days on market $99,000 Active 263 DOM
2. 2026-06-17
   days on market $99,000 Active 262 DOM
3. 2026-06-16
   days on market $99,000 Active 261 DOM
4. 2026-06-15
   days on market $99,000 Active 260 DOM
5. 2026-06-13
   days on market $99,000 Active 258 DOM
6. 2026-06-12
   days on market $99,000 Active 257 DOM
7. 2026-06-09
   days on market $99,000 Active 254 DOM
8. 2026-06-08
   days on market $99,000 Active 253 DOM
9. 2026-06-07
   days on market $99,000 Active 252 DOM
10. 2026-06-05
    days on market $99,000 Active 250 DOM
11. 2026-06-04
    days on market $99,000 Active 248 DOM
12. 2026-06-02
    days on market $99,000 Active 247 DOM
13. 2026-06-01
    days on market $99,000 Active 246 DOM
14. 2026-05-31
    days on market $99,000 Active 245 DOM
15. 2026-05-31
    days on market $99,000 Active 244 DOM
16. 2026-03-30
    status Active
17. 2026-03-30
    price $99,000
18. 2025-11-23
    historical
19. 2025-10-13
    price $109,500
20. 2025-05-22
    listed $127,500 Active
21. 2024-12-29
    historical
22. 2024-10-13
    price $119,900
23. 2024-08-26
    price $127,500
24. 2024-06-28
    listed $139,900 Active
25. 2023-09-28
    status Pending
26. 2023-09-22
    status Pending
27. 2023-09-04
    price $129,999
28. 2023-09-04
    price $130,000
29. 2023-08-29
    price $144,999
30. 2023-08-29
    price $149,999
31. 2023-08-22
    price $150,000
32. 2023-08-18
    price $155,000
33. 2023-08-10
    price $160,000
34. 2023-08-05
    price $166,000
35. 2023-07-30
    listed $170,000 Active
36. 2016-08-23
    listed $65,000
37. 2004-11-01
    listed $54,900

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

Taxation est. · year 1

• Rental income: $11,372
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$910
• − Management: −$910
• − HOA: −$1,200
• − Depreciation: −$2,880
• Taxable loss: −$2,053
• Est. tax savings @ 24.0%: +$493
• After-tax cash flow: $67/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: Eureka
• NCES district ID: 2006120
• Math proficiency: 28% ▼ -1.00%
• Reading proficiency: 39% ▲ 1.00%
• Median HH income: $37,104
• Composite: 27.83/100
• National rank: #6885
• State rank: #86 of 169 in KS

Livability — Eureka

• Score: 69/100
• State rank: #192
• US rank: #8682

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,119

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 4% Native American 2%
• Common ancestry: Lithuanian 4% Slovak 2% Iranian 2%
• Foreign-born: 0%
• Languages at home: 98% 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: ▲ 9.51%
• Current HPI: 184.0175
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+80.3% since first listed

22 events — show timeline

• 2026-03-30 Relisted — SCKMLS as Distributed by MLS Grid
• 2026-03-30 Price Changed $99,000 SCKMLS as Distributed by MLS Grid
• 2025-11-23 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2025-10-13 Price Changed $109,500 SCKMLS as Distributed by MLS Grid
• 2025-05-22 Listed $127,500 SCKMLS as Distributed by MLS Grid
• 2024-12-29 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2024-10-13 Price Changed $119,900 SCKMLS as Distributed by MLS Grid
• 2024-08-26 Price Changed $127,500 SCKMLS as Distributed by MLS Grid
• 2024-06-28 Listed $139,900 SCKMLS as Distributed by MLS Grid
• 2023-09-28 Pending — SCKMLS as Distributed by MLS Grid
• 2023-09-22 Pending — SCKMLS as Distributed by MLS Grid
• 2023-09-04 Price Changed $129,999 SCKMLS as Distributed by MLS Grid
• 2023-09-04 Price Changed $130,000 SCKMLS as Distributed by MLS Grid
• 2023-08-29 Price Changed $144,999 SCKMLS as Distributed by MLS Grid
• 2023-08-29 Price Changed $149,999 SCKMLS as Distributed by MLS Grid
• 2023-08-22 Price Changed $150,000 SCKMLS as Distributed by MLS Grid
• 2023-08-18 Price Changed $155,000 SCKMLS as Distributed by MLS Grid
• 2023-08-10 Price Changed $160,000 SCKMLS as Distributed by MLS Grid
• 2023-08-05 Price Changed $166,000 SCKMLS as Distributed by MLS Grid
• 2023-07-30 Listed $170,000 SCKMLS as Distributed by MLS Grid
• 2016-08-23 Listed $65,000 SCKMLS as Distributed by MLS Grid
• 2004-11-01 Listed $54,900 SCKMLS as Distributed by MLS Grid