412 Mulberry St · Humboldt, KS 66748

$78,000

4 bd · 1.0 ba · 1,722 sqft · SingleFamily public records · 84 Days on market

Built 1920 8,190 sqft lot Est $124k · 37% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Key facts

• 8,190 sq ft lot
• 2 garage spots
• Listed 83 days

Property features AI

Finance

• Other: Living area reported as 1,722 (source: public records)
• HOA & community: No association fees

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residential; 1.5 stories
• Construction: Lap siding exterior; Composition roof; Built approximately 76–100 years ago
• Exterior features: Lot approximately 70 x 117 feet; Not in a flood plain

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Electric cooling (air conditioning)
• Interior features: Crawl space basement; 1.5-story floor plan

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $73k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#112 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, schools D-, amenities F.
• Humboldt (rural): math 18% / reading 29% proficiency, ranked #148 of 169 in KS (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 11 active listings in the ZIP; 18 units permitted in Allen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($539 loan paydown + $3k appreciation (4.5% local appreciation)).
• Allen County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; list at $78k implies a 123% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,320 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 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 1920 — 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. 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.
7. 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.
8. 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: 1.58% ✓
• Cap rate: 12.93%
• Cash-on-cash: 23.72%
• DSCR: 2.06
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $123,984
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 S 3rd St	0.17mi	3/1.0 (-1)	1,479 (-14%)	2mo	$99,999	$68	62
1104 Sycamore St	0.51mi	4/1.0	1,664 (-3%)	22mo	$120,000	$72	53
1209 New York St	0.58mi	3/1.5 (-1)	1,755 (+2%)	13mo	$174,900	$100	52
502 & 506 N 7th N/A	0.46mi	4/2.0	1,797 (+4%)	22mo	$145,000	$81	49
922 Pecan St	0.40mi	4/2.0	1,577 (-8%)	21mo	$155,000	$98	46
907 Pecan St	0.37mi	4/2.5	1,850 (+7%)	23mo	$30,000	$16	45
1220 Osage St	0.66mi	3/1.0 (-1)	1,474 (-14%)	16mo	$75,000	$51	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.48% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.6%
• Equity multiple: 2.98×
• Total profit: $43,181
• Equity at exit: $41,747

10-year hold

• IRR: 31.5%
• Equity multiple: 5.94×
• Total profit: $107,978
• Equity at exit: $70,098

Cash invested: $21,840 (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 66748

• Home prices YoY: 2.5%
• Active inventory: 11
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,229 medium
• Mortgage (P&I): −$409
• Tax est. 1.5%: −$98 /mo · $1,170/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $432

Break-even live

Break-even rent $682

Max offer price $78,000

Occupancy floor 60%

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $78,000 Active 84 DOM
2. 2026-06-17
   days on market $78,000 Active 83 DOM
3. 2026-06-16
   days on market $78,000 Active 82 DOM
4. 2026-06-15
   days on market $78,000 Active 81 DOM
5. 2026-06-13
   days on market $78,000 Active 79 DOM
6. 2026-06-12
   days on market $78,000 Active 78 DOM
7. 2026-06-09
   days on market $78,000 Active 75 DOM
8. 2026-06-08
   days on market $78,000 Active 74 DOM
9. 2026-06-07
   days on market $78,000 Active 73 DOM
10. 2026-06-05
    days on market $78,000 Active 71 DOM
11. 2026-06-04
    days on market $78,000 Active 69 DOM
12. 2026-06-02
    days on market $78,000 Active 68 DOM
13. 2026-06-01
    days on market $78,000 Active 67 DOM
14. 2026-05-31
    days on market $78,000 Active 66 DOM
15. 2026-05-31
    days on market $78,000 Active 65 DOM
16. 2026-04-20
    price $82,000
17. 2026-03-26
    listed $89,000 Active
18. 2018-05-04
    soldstatus
19. 2000-09-01
    soldstatus $35,000
20. 1996-08-01
    soldstatus $34,250
21. 1995-08-01
    soldstatus $31,000

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,745
• − Mortgage interest: −$4,369
• − Property taxes: −$1,170
• − Insurance: −$390
• − Repairs & maintenance: −$1,180
• − Management: −$1,180
• − Depreciation: −$2,269
• Taxable income: $4,187
• Est. tax owed @ 24.0%: −$1,005
• After-tax cash flow: $4,175/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: Humboldt
• NCES district ID: 2007590
• Math proficiency: 18% ▼ -6.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $43,599
• Composite: 20.16/100
• National rank: #8634
• State rank: #148 of 169 in KS

Livability — Humboldt

• Score: 72/100
• State rank: #112
• US rank: #6241

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Humboldt, KS
• Population (ZIP): 2,864

Population outlook (Allen County) Hauer SSP2

• Today (2025): 11,885 people
• By 2030: 11,352 · -4.5%
• By 2040: 10,285 · -13.5%
• By 2050: 9,342 · -21.4%
• By 2075: 7,482 · -37.0%
• By 2100: 5,871 · -50.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 2% Asian 2% Pacific Islander 1%
• Common ancestry: Italian 4% Slovak 2% Serbian 2%
• Foreign-born: 1% · China, Canada
• Languages at home: 97% English-only · Chinese 2%

Political lean MEDSL · Allen

• 2024 margin: Solid R (+46.1) · D 25.8% · R 72.0% · Other 2.2%
• 2008→2024 swing: -22.9pp toward R · 2008: -23.3pp · 2024: -46.1pp
• All cycles: 2024: R+46.1 2020: R+44.4 2016: R+41.0 2012: R+27.2 2008: R+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.48%
• Current HPI: 180.3616
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+164.5% since first listed

6 events — show timeline

• 2026-04-20 Price Changed $82,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-26 Listed $89,000 Heartland MLS as Distributed by MLS Grid
• 2018-05-04 Sold (Public Records) — Public Records
• 2000-09-01 Sold (Public Records) $35,000 Public Records
• 1996-08-01 Sold (Public Records) $34,250 Public Records
• 1995-08-01 Sold (Public Records) $31,000 Public Records