321 N Sherman St · Lyons, KS 67554

$70,000

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 24 Days on market

Built 1935 8,400 sqft lot

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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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Key facts

• Original oak floors
• Covered patio
• Garden shed

Tags

• FENCED BACKYARD
• COVERED PATIO
• GARDEN SHED
• ORIGINAL OAK FLOORS

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer
• Home design: Residential property; Zoned NC.1 / R-1
• Construction: Asbestos construction material; Composition roof
• Exterior features: Covered patio/porch; Chain link fenced yard; Fenced property

Interior

• Kitchen: Disposal; Range / Oven; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Disposal; Range / Oven; Refrigerator; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($934 rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#207 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: employment D+, schools F, amenities F.
• Lyons (town): math 23% / reading 26% proficiency, ranked #136 of 169 in KS (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 30 active listings in the ZIP; 13 units permitted in Rice County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Rice County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $70k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,950 (1.5% below list)

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.33% ✓
• Cap rate: 10.65%
• Cash-on-cash: 15.56%
• DSCR: 1.69
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 6.4%
• Equity multiple: 1.25×
• Total profit: $4,857
• Equity at exit: $10,437

10-year hold

• IRR: 15.7%
• Equity multiple: 2.28×
• Total profit: $25,128
• Equity at exit: $6,052

Cash invested: $19,600 (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 67554

• Active inventory: 30
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $934 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $254

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 68%

Sensitivity live

Price	-10% $303	-5% $278	+0% $254	+5% $230	+10% $206
Rent	-10% $180	-5% $217	+0% $254	+5% $291	+10% $328
Rate	-1.0pp $289	-0.5pp $272	base $254	+0.5pp $236	+1.0pp $218

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $70,000 Active 24 DOM
2. 2026-06-18
   days on market $70,000 Active 22 DOM
3. 2026-06-17
   days on market $70,000 Active 21 DOM
4. 2026-06-16
   days on market $70,000 Active 20 DOM
5. 2026-06-15
   days on market $70,000 Active 19 DOM
6. 2026-06-13
   days on market $70,000 Active 17 DOM
7. 2026-06-12
   days on market $70,000 Active 16 DOM
8. 2026-06-09
   days on market $70,000 Active 13 DOM
9. 2026-06-08
   days on market $70,000 Active 12 DOM
10. 2026-06-07
    days on market $70,000 Active 11 DOM
11. 2026-06-05
    days on market $70,000 Active 9 DOM
12. 2026-06-04
    days on market $70,000 Active 7 DOM
13. 2026-06-02
    days on market $70,000 Active 6 DOM
14. 2026-06-01
    days on market $70,000 Active 5 DOM
15. 2026-05-31
    days on market $70,000 Active 4 DOM
16. 2026-05-31
    days on market $70,000 Active 3 DOM
17. 2026-05-27
    listed $70,000 Active
18. 2003-10-01
    soldstatus $39,500
19. 1999-07-01
    soldstatus $28,000

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,208
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$897
• − Management: −$897
• − Depreciation: −$2,036
• Taxable income: $2,058
• Est. tax owed @ 24.0%: −$494
• After-tax cash flow: $2,556/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: Lyons
• NCES district ID: 2009030
• Math proficiency: 23% ▼ -10.00%
• Reading proficiency: 26% ▼ -4.00%
• Median HH income: $47,109
• Composite: 21.36/100
• National rank: #8363
• State rank: #136 of 169 in KS

Livability — Lyons

• Score: 68/100
• State rank: #207
• US rank: #9304

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lyons, KS
• Population (ZIP): 4,122

Population outlook (Rice County) Hauer SSP2

• Today (2025): 9,798 people
• By 2030: 9,694 · -1.1%
• By 2040: 9,507 · -3.0%
• By 2050: 9,457 · -3.5%
• By 2075: 9,487 · -3.2%
• By 2100: 9,144 · -6.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 24% Two or more races 17% Black 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Iranian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 14%

Political lean MEDSL · Rice

• 2024 margin: Solid R (+56.7) · D 20.8% · R 77.5% · Other 1.7%
• 2008→2024 swing: -16.5pp toward R · 2008: -40.2pp · 2024: -56.7pp
• All cycles: 2024: R+56.7 2020: R+52.8 2016: R+55.6 2012: R+47.8 2008: R+40.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.91%
• Current HPI: 165.4881
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+150.0% since first listed

3 events — show timeline

• 2026-05-27 Listed $70,000 Hays MLS
• 2003-10-01 Sold (Public Records) $39,500 Public Records
• 1999-07-01 Sold (Public Records) $28,000 Public Records