419 S 4th St · Independence, KS 67301

$119,900

4 bd · 3.0 ba · 2,899 sqft · SingleFamily public records · 80 Days on market

Built 1925 8,400 sqft lot Est $157k · 23% under

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Why this score? — see what drove the C+ 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 +22.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +6.6/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great family home located on corner lot with 4 bedrooms and 3 bathrooms. Unique design pattern on the hardwood floors, partial basement could be used as storm shelter. Woodburning fireplace with insert.

Key facts

• Covered front porch
• Large corner lot
• Large kitchen

Tags

• COVERED FRONT PORCH
• ORIGINAL HARDWOOD FLOORS
• LARGE KITCHEN
• ABUNDANCE OF WINDOWS
• LARGE CORNER LOT
• FULL UNFINISHED BASEMENT

Property features AI

Finance

• HOA & community: No association fees

Exterior

• Parking: Other parking (details not specified)
• Utilities: Public water; Public sewer; High-speed internet available
• Home design: Single-family residence; 1.5-story layout; Residential property
• Construction: Brick veneer and stucco & frame construction; Composition roof; Has basement
• Exterior features: Porch; Balcony; Corner lot; Located inside city limits; Paved road access (public maintenance)

Interior

• Kitchen: Refrigerator
• Bedrooms: 5 bedrooms
• Flooring: Wood
• Bathrooms: 3 full bathrooms
• Heating & cooling: Natural gas heating; Electric central cooling
• Interior features: Wood flooring; Refrigerator included; One fireplace located in the family room; Unfinished basement with garage entrance
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.0% in Independence — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 65/100 on livability (#285 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools D+, crime F, amenities F.
• Independence (town): math 31% / reading 36% proficiency, ranked #76 of 169 in KS (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 69 active listings in the ZIP; 10 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Montgomery County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $9k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 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 1925 — 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. Crime grade is F 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: 1.16% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.18%
• DSCR: 1.32
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $156,546
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
216 S 5th St	0.17mi	5/2.0 (+1)	2,972 (+2%)	13mo	$160,000	$54	68
517 S 4 St	0.07mi	4/1.5	2,722 (-6%)	20mo	$137,500	$51	64
301-305 S 2nd St	0.19mi	5/2.0 (+1)	2,581 (-11%)	5mo	$159,500	$62	60
300 S Park Blvd	0.17mi	5/3.0 (+1)	3,118 (+8%)	19mo	$172,500	$55	58
317 N Park Blvd	0.50mi	5/2.5 (+1)	2,614 (-10%)	13mo	$229,000	$88	43
316 N 10th St	0.65mi	4/1.5	2,784 (-4%)	20mo	$130,000	$47	40
418 W Laurel St	0.67mi	4/2.5	2,706 (-7%)	22mo	$129,500	$48	37
223 E Pine St	0.70mi	4/3.0	3,286 (+13%)	16mo	$160,000	$49	32

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.80×
• Total profit: $-6,568
• Equity at exit: $17,877

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $11,009
• Equity at exit: $10,367

Cash invested: $33,572 (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 67301

• Active inventory: 69
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,385 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$215 /mo · $2,578/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $201

Break-even live

Break-even rent $1,131

Max offer price $119,900

Occupancy floor 80%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $119,900 Active 80 DOM
2. 2026-06-17
   days on market $119,900 Active 79 DOM
3. 2026-06-16
   days on market $119,900 Active 78 DOM
4. 2026-06-15
   days on market $119,900 Active 77 DOM
5. 2026-06-13
   days on market $119,900 Active 75 DOM
6. 2026-06-12
   days on market $119,900 Active 74 DOM
7. 2026-06-09
   days on market $119,900 Active 71 DOM
8. 2026-06-08
   days on market $119,900 Active 70 DOM
9. 2026-06-07
   days on market $119,900 Active 69 DOM
10. 2026-06-05
    days on market $119,900 Active 67 DOM
11. 2026-06-04
    days on market $119,900 Active 65 DOM
12. 2026-06-02
    days on market $119,900 Active 64 DOM
13. 2026-06-01
    days on market $119,900 Active 63 DOM
14. 2026-05-31
    days on market $119,900 Active 62 DOM
15. 2026-05-31
    days on market $119,900 Active 61 DOM
16. 2026-05-14
    price $119,900
17. 2026-03-30
    listed $129,000 Active
18. 2011-09-30
    soldstatus 202-char remark

    Show marketing remark (202 chars)

    Great family home located on corner lot with 4 bedrooms and 3 bathrooms. Unique design pattern on the hardwood floors, partial basement could be used as storm shelter. Woodburning fireplace with insert.

19. 2011-08-04
    soldstatus
20. 2011-06-01
    listed $89,900 202-char remark

    Show marketing remark (202 chars)

    Great family home located on corner lot with 4 bedrooms and 3 bathrooms. Unique design pattern on the hardwood floors, partial basement could be used as storm shelter. Woodburning fireplace with insert.

ⓘ 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: $2,578 · $215/mo
• Projected year-2 tax: $2,578 · $215/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 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,625
• − Mortgage interest: −$6,716
• − Property taxes: −$2,578
• − Insurance: −$600
• − Repairs & maintenance: −$1,330
• − Management: −$1,330
• − Depreciation: −$3,488
• Taxable income: $584
• Est. tax owed @ 24.0%: −$140
• After-tax cash flow: $2,271/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: Independence
• NCES district ID: 2007650
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 36% ▲ 1.00%
• Median HH income: $43,327
• Composite: 28.45/100
• National rank: #6750
• State rank: #76 of 169 in KS

Livability — Independence

• Score: 65/100
• State rank: #285
• US rank: #12779

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, KS
• Population (ZIP): 12,996

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 29,729 people
• By 2030: 27,786 · -6.5%
• By 2040: 24,201 · -18.6%
• By 2050: 21,280 · -28.4%
• By 2075: 16,754 · -43.6%
• By 2100: 14,088 · -52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 10% Hispanic / Latino 6% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+51.1) · D 23.6% · R 74.7% · Other 1.8%
• 2008→2024 swing: -15.3pp toward R · 2008: -35.8pp · 2024: -51.1pp
• All cycles: 2024: R+51.1 2020: R+50.2 2016: R+50.8 2012: R+41.4 2008: R+35.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.85%
• Current HPI: 126.8212
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+33.4% since first listed

5 events — show timeline

• 2026-05-14 Price Changed $119,900 Heartland MLS as Distributed by MLS Grid
• 2026-03-30 Listed $129,000 Heartland MLS as Distributed by MLS Grid
• 2011-09-30 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2011-08-04 Sold (Public Records) — Public Records
• 2011-06-01 Listed $89,900 Heartland MLS as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2025): $2,578 · +4.5% YoY. Source: county tax records.