406 N Catherine N/A · Cherryvale, KS 67335

$95,000

2 bd · 2.0 ba · 892 sqft · SingleFamily public records · 37 Days on market

Built 2016 5.10 ac lot Est $78k · 22% over ↓ 33% since listing

---

Why this score? — see what drove the F 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 +7.9/30.0
• Appreciation +7.2/10.0
• 1% rule +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Newly built in 2016 is a Beautiful custom built 2 bed/ 2 bath home. Stunning custom built iron horse gates. Cedar inside and out. Kitchen features hickory wood cabinets, Walnut counter tops, sink with embossed design of running horses, new appliances, and plenty of storage space. Rustic style sliding doors can be found through out the doorways. Master bedroom has attached full bath with stand up shower, copper ceiling tile design, and heated bathroom flooring!!! Through the rest of the home is stained concrete floors for easy cleaning and upkeep. Home has both full front and back porches with covering, recessed lighting, and stamped concrete pads. From the front porch you can see the 40x40 barn. On the west side of the barn is horse stalls with a catch pen leading out to the 5 acres of grassland for grazing. Security system installed. All electric with central heat and air.

Key facts

• Fully fenced acres
• 5.1 acre lot
• Built 2016

Tags

• FULLY FENCED ACRES
• AGRICULTURAL BUILDING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $-102 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $77k (19.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $85k (10.9% below list).
• Recommended offer: $77k (19.0% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 68/100 on livability (#214 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, schools F, amenities F.
• Cherryvale (rural): math 24% / reading 35% proficiency, ranked #108 of 169 in KS (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 16 active listings in the ZIP; 10 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($657 loan paydown + $4k appreciation (4.3% local appreciation)).
• Montgomery County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 7, 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 37 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $76,938 (19.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.89% ✗
• Cap rate: 5.00%
• Cash-on-cash: -4.61%
• DSCR: 0.79
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $77,604
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
729 W 3rd St	0.21mi	2/1.0	954 (+7%)	2mo	$83,000	$87	73

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

Projected returns pro-forma

4.31% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.44×
• Total profit: $11,787
• Equity at exit: $49,920

10-year hold

• IRR: 9.4%
• Equity multiple: 2.63×
• Total profit: $43,323
• Equity at exit: $83,080

Cash invested: $26,600 (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 67335

• Home prices YoY: 3.5%
• Active inventory: 16
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $846 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$233 /mo · $2,794/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $-102

Break-even live

Break-even rent $975

Max offer price $76,938

Occupancy floor —

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-04-17
   historical
2. 2026-03-18
   status Pending
3. 2026-03-18
   status Pending
4. 2026-02-24
   status Active
5. 2026-02-24
   status Active
6. 2026-01-28
   status Pending
7. 2026-01-28
   status Pending
8. 2026-01-13
   listed $95,000 Active
9. 2026-01-13
   listed $95,000 Active
10. 2019-09-03
    soldstatus
11. 2019-08-30
    soldstatus 886-char remark

    Show marketing remark (886 chars)

    Newly built in 2016 is a Beautiful custom built 2 bed/ 2 bath home. Stunning custom built iron horse gates. Cedar inside and out. Kitchen features hickory wood cabinets, Walnut counter tops, sink with embossed design of running horses, new appliances, and plenty of storage space. Rustic style sliding doors can be found through out the doorways. Master bedroom has attached full bath with stand up shower, copper ceiling tile design, and heated bathroom flooring!!! Through the rest of the home is stained concrete floors for easy cleaning and upkeep. Home has both full front and back porches with covering, recessed lighting, and stamped concrete pads. From the front porch you can see the 40x40 barn. On the west side of the barn is horse stalls with a catch pen leading out to the 5 acres of grassland for grazing. Security system installed. All electric with central heat and air.

12. 2019-07-12
    listed $142,000 886-char remark

    Show marketing remark (886 chars)

    Newly built in 2016 is a Beautiful custom built 2 bed/ 2 bath home. Stunning custom built iron horse gates. Cedar inside and out. Kitchen features hickory wood cabinets, Walnut counter tops, sink with embossed design of running horses, new appliances, and plenty of storage space. Rustic style sliding doors can be found through out the doorways. Master bedroom has attached full bath with stand up shower, copper ceiling tile design, and heated bathroom flooring!!! Through the rest of the home is stained concrete floors for easy cleaning and upkeep. Home has both full front and back porches with covering, recessed lighting, and stamped concrete pads. From the front porch you can see the 40x40 barn. On the west side of the barn is horse stalls with a catch pen leading out to the 5 acres of grassland for grazing. Security system installed. All electric with central heat and air.

13. 2015-10-26
    soldstatus

ⓘ 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: $2,794 · $233/mo
• Projected year-2 tax: $2,794 · $233/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 6/10 Major 7 d/yr ≥108°F today · 20 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,152
• − Mortgage interest: −$5,321
• − Property taxes: −$2,794
• − Insurance: −$475
• − Repairs & maintenance: −$812
• − Management: −$812
• − Depreciation: −$2,764
• Taxable loss: −$2,826
• Est. tax savings @ 24.0%: +$678
• After-tax cash flow: $-549/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: Cherryvale
• NCES district ID: 2004740
• Math proficiency: 24% ▲ 1.00%
• Reading proficiency: 35% ▲ 6.00%
• Median HH income: $43,161
• Composite: 25.1/100
• National rank: #7531
• State rank: #108 of 169 in KS

Livability — Cherryvale

• Score: 68/100
• State rank: #214
• US rank: #9510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cherryvale, KS
• Population (ZIP): 3,300

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 (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2% Native American 1%
• Common ancestry: Slovak 2% Iranian 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Arabic 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: ▲ 4.31%
• Current HPI: 128.0231
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-33.1% since first listed

13 events — show timeline

• 2026-04-17 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2026-03-18 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-03-18 Pending — SCKMLS as Distributed by MLS Grid
• 2026-02-24 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-02-24 Relisted — SCKMLS as Distributed by MLS Grid
• 2026-01-28 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-01-28 Pending — SCKMLS as Distributed by MLS Grid
• 2026-01-13 Listed $95,000 Heartland MLS as Distributed by MLS Grid
• 2026-01-13 Listed $95,000 SCKMLS as Distributed by MLS Grid
• 2019-09-03 Sold (Public Records) — Public Records
• 2019-08-30 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2019-07-12 Listed $142,000 Heartland MLS as Distributed by MLS Grid
• 2015-10-26 Sold (Public Records) — Public Records

Property tax history

+34.8%/yr

Latest (2025): $2,794 · -11.8% YoY. Source: county tax records.