3 bd · 1.0 ba ·
1,010 sqft ·
Built 1925
· SingleFamily
· Active
· 76 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$949/mo
Mortgage (P&I)
−$603
Tax + insurance
−$125
HOA
−$0
Vac / Maint / Mgmt
−$199
Net cashflow
$22/mo
Annual
$267/yr
Cap rate
6.53%
Cash-on-cash
0.83%
DSCR
1.04
1% rule
0.83%
Cash to close
$32,200
Investor read
This is a 3-bed/1.0-bath single-family listed at $115k.
At list price, monthly cash flow is $22 ($267/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 $95k (17.4% below list).
It's been on market 76 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $95k (17.4% below list) — sets the bar for 1% rule.
In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
Location reads 70/100 on livability (#163 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
Marion-Florence (rural): math 35% / reading 45% proficiency, ranked #37 of 169 in KS (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Zoned schools: Marion Elem (math 47% / reading 57%, grade C-, #131 of 684 statewide, top 23%, 244 students, 46% FRL); Marion Middle (math 32% / reading 37%, grade F, #49 of 219 statewide, top 24%, 127 students, 47% FRL); Marion High (math 15% / reading 24%, grade F, #198 of 327 statewide, top 66%, 142 students, 45% FRL).
Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
Market conditions: 23 active listings in the ZIP; 25 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
Marion County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
Current owner paid $28k; list at $115k implies a 311% gain — meaningful room to come down on a strong offer.
At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
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.
Questions for listing agent
It's been on market 76 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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.
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.
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.
CashFlowRE · CFR-DF4N0X6KTYQXSY
· Data 3 weeks agocashflowre.app · 2026-05-29