119 N Locust St

Offerle, KS 67563

$68,000B+

3 bd · 2.0 ba · 1,152 sqft · Built 1975 · SingleFamily · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,088/mo
• Mortgage (P&I): −$357
• Tax + insurance: −$113
• HOA: −$0
• Vac / Maint / Mgmt: −$229
• Net cashflow: $390/mo
• Annual: $4,679/yr
• Cap rate: 13.17%
• Cash-on-cash: 24.58%
• DSCR: 2.09
• 1% rule: 1.60%
• Cash to close: $19,040

Investor read

• This is a 3-bed/2.0-bath single-family listed at $68k.
• At list price, monthly cash flow is $390 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($470 loan paydown + $3k appreciation (4.1% local appreciation)).
• Location reads 64/100 on livability (#319 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, health & safety C-, employment D+.
• Kinsley-Offerle (rural): math 30% / reading 30% proficiency, ranked #172 of 280 in KS (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP.
• Edwards County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $45k; list at $68k implies a 51% gain — meaningful room to come down on a strong offer.
• At projected returns (4.1% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k 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

• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.