503 W 3rd St · Pittsburg, KS 66762

$120,000

3 bd · 2.0 ba · 1,275 sqft · SingleFamily public records · 16 Days on market

Built 1946 8,784 sqft lot Est $135k · 11% 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 +24.3/30.0
• ARV discount +12.5/15.0
• DSCR +7.8/10.0
• 1% rule +5.7/10.0
• Rent growth +5.0/5.0
• Livability +3.3/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Hardwood flooring
• Quiet street
• Attached garage

Tags

• HARDWOOD FLOORING
• ATTACHED GARAGE
• DETACHED STORAGE SHED
• QUIET STREET

Property features AI

Finance

• Other: Lot approximately 8,784 square feet; Living area about 1,275 (public records)
• HOA & community: No association fees

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Attached property; Ranch style
• Construction: Brick trim and vinyl siding; Composition roof; Approximately 76–100 years old
• Exterior features: Not in a flood plain

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Electric cooling (central air)
• Interior features: Ranch floor plan; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/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: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 5.4% in Pittsburg — 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 66/100 on livability (#270 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A; Watch: crime F, amenities F, commute F.
• Pittsburg (town): math 29% / reading 31% proficiency, ranked #111 of 169 in KS (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pittsburg Middle School (math 28% / reading 26%, grade F, #94 of 219 statewide, top 44%, 720 students, 67% FRL); Pittsburg High (math 27% / reading 32%, grade F, #60 of 327 statewide, top 24%, 1,017 students, 60% FRL).
• Market conditions: Rents rising fast (+13.8%/yr); 142 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 65 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1946 — 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 $118,200 (1.5% below list)

Questions for the listing agent

1. Built in 1946 — 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 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.59%
• DSCR: 1.38
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $135,150
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
603 W 2nd N/A	0.11mi	3/2.0	1,247 (-2%)	2mo	$210,000	$168	90
708 W 1st St	0.21mi	3/2.0	1,210 (-5%)	4mo	$125,000	$103	78
601 N Woodland St	0.30mi	3/1.0	1,216 (-5%)	1mo	$129,500	$106	74
306 S Olive St	0.33mi	3/1.5	1,114 (-13%)	6mo	$115,000	$103	56
124 W Park St	0.49mi	3/2.0	1,412 (+11%)	6mo	$79,000	$56	54
310 E Park St	0.73mi	3/2.0	1,215 (-5%)	6mo	$150,000	$123	53
707 W 8th St	0.42mi	3/1.5	1,463 (+15%)	1mo	$145,000	$99	53
209 S Catalpa St	0.27mi	2/1.0 (-1)	1,106 (-13%)	8mo	$155,000	$140	50
408 S Joplin St	0.68mi	3/1.0	1,141 (-10%)	1mo	$105,000	$92	46
313 E Park St	0.73mi	3/2.0	1,102 (-14%)	1mo	$167,500	$152	42
406 E 8th St	0.73mi	2/1.0 (-1)	1,131 (-11%)	5mo	$79,900	$71	34
409 E 8th St	0.73mi	3/1.0	1,088 (-15%)	5mo	$115,000	$106	33

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.9%
• Equity multiple: 1.08×
• Total profit: $2,618
• Equity at exit: $17,892

10-year hold

• IRR: 15.7%
• Equity multiple: 2.57×
• Total profit: $52,690
• Equity at exit: $10,375

Cash invested: $33,600 (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 66762

• Rents YoY: 13.8%
• Active inventory: 142
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,278 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$90 /mo · $1,080/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $241

Break-even live

Break-even rent $974

Max offer price $120,000

Occupancy floor 76%

Sensitivity live

Price	-10% $309	-5% $275	+0% $241	+5% $207	+10% $173
Rent	-10% $140	-5% $190	+0% $241	+5% $291	+10% $342
Rate	-1.0pp $301	-0.5pp $271	base $241	+0.5pp $210	+1.0pp $178

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1108 S Joplin St Pittsburg, KS	2.0	1.5	850	$775	$0.91	45d	2	1.01mi
719 E Madison St Apt A Pittsburg, KS	3.0	3.0	1300	$1,200	$0.92	45d	1	1.30mi
102 Creekside Way Pittsburg, KS	2.0	2.0	1450	$2,000	$1.38	45d	2	1.47mi

Listing history 13 events

1. 2026-06-21
   days on market $120,000 Active 16 DOM
2. 2026-06-19
   days on market $120,000 Active 14 DOM
3. 2026-06-18
   days on market $120,000 Active 13 DOM
4. 2026-06-17
   price $120,000 Active 12 DOM
5. 2026-06-17
   days on market $130,000 Active 12 DOM
6. 2026-06-16
   days on market $130,000 Active 11 DOM
7. 2026-06-15
   days on market $130,000 Active 10 DOM
8. 2026-06-14
   days on market $130,000 Active 8 DOM
9. 2026-06-13
   days on market $130,000 Active 7 DOM
10. 2026-06-10
    days on market $130,000 Active 5 DOM
11. 2026-06-09
    days on market $130,000 Active 4 DOM
12. 2026-06-08
    days on market $130,000 Active 3 DOM
13. 2026-06-07
    listed $130,000 Active 2 DOM

ⓘ 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: $1,080 · $90/mo
• Projected year-2 tax: $1,692 · $141/mo
• Expected delta: +$612/yr (+$51/mo · 56.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥108°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,341
• − Mortgage interest: −$6,722
• − Property taxes: −$1,080
• − Insurance: −$600
• − Repairs & maintenance: −$1,227
• − Management: −$1,227
• − Depreciation: −$3,491
• Taxable income: $993
• Est. tax owed @ 24.0%: −$238
• After-tax cash flow: $2,649/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: Pittsburg
• NCES district ID: 2010710
• Math proficiency: 29% ▼ -5.00%
• Reading proficiency: 31% ▼ -4.00%
• Median HH income: $33,608
• Composite: 24.63/100
• National rank: #7629
• State rank: #111 of 169 in KS

Livability — Pittsburg

• Score: 66/100
• State rank: #270
• US rank: #12149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsburg, KS
• County: Crawford County · 24,907 people
• City population: 24,907
• Metro: Pittsburg, KS
• Population (ZIP): 24,907
• Household income: $50,511
• Rent vs Own: 46.7% rent · 53.3% own
• Severe rent burden: 1186.0

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 39,393 people
• By 2030: 39,540 · +0.4%
• By 2040: 39,452 · +0.1%
• By 2050: 39,188 · -0.5%
• By 2075: 39,038 · -0.9%
• By 2100: 38,219 · -3.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 10% Two or more races 5% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 6% Other Asian/Pacific 1%

Political lean MEDSL · Crawford

• 2024 margin: Strong R (+25.3) · D 36.5% · R 61.7% · Other 1.8%
• 2008→2024 swing: -26.7pp toward R · 2008: 1.4pp · 2024: -25.3pp
• All cycles: 2024: R+25.3 2020: R+23.1 2016: R+23.1 2012: R+6.5 2008: D+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.14%
• Current HPI: 158.7878
• Rent YoY: ▲ 13.80%
• Metro: Pittsburg, KS
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-06-05 Listed $130,000 Heartland MLS as Distributed by MLS Grid
• 2019-04-04 Sold (Public Records) — Public Records

Property tax history

-0.1%/yr

Latest (2025): $1,080 · +11.4% YoY. Source: county tax records.