622 N Chestnut St · McPherson, KS 67460

$151,000

3 bd · 1.0 ba · 1,304 sqft · SingleFamily public records · 41 Days on market

Built 1915 6,970 sqft lot

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Why this score? — see what drove the D 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 +14.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Neat as a pin and a great open floor plan in this well maintained 3 bedroom home. Nice sized kitchen and main floor laundry room. There's a partial basement that is great for storage. Beautiful corner lot is well landscaped. The covered front porch has newer flooring. The covered back deck is great for relaxing on. Detached two car garage, dog run and lovely garden area. Roof was new in 2005, CH/CA and water heater in 2007. Steel and wood siding on house and vinyl and wood on garage. This home would be a great home for a first time home buyer! Call Sharon today for your private tour. Bsmt Finsh%:0

Key facts

• Nicely sized kitchen
• Open floor plan
• Large corner lot

Tags

• OPEN FLOOR PLAN
• NICELY SIZED KITCHEN
• MAIN FLOOR LAUNDRY
• PARTIAL BASEMENT
• DETACHED GARAGE
• LARGE CORNER LOT

Property features AI

Exterior

• Parking: Two total parking spaces; Two-car garage with garage door opener and alley access
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame construction with vinyl siding; Composition roof; Partial basement
• Exterior features: Deck; Covered, enclosed porch; Partial fencing; Paved road access

Interior

• Kitchen: Includes dishwasher, disposal, electric range, and refrigerator
• Bedrooms: Three main-level bedrooms
• Flooring: Wood flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas heating; Central electric air conditioning
• Interior features: Dishwasher; Disposal; Electric range; Refrigerator; Gas water heater; Wood flooring; No fireplace
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $151k.

Deal economics

• At list price, monthly cash flow is $40 ($474/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (9.9% below list).
• Recommended offer: $136k (9.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#12 in KS, #1,567 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Mcpherson (town): math 25% / reading 32% proficiency, ranked #103 of 169 in KS (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mcpherson Middle School (math 21% / reading 27%, grade F, #121 of 219 statewide, top 56%, 492 students, 42% FRL); Mcpherson High (math 22% / reading 22%, grade F, #165 of 327 statewide, top 55%, 709 students, 36% FRL).
• Market conditions: 149 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 102 units permitted in McPherson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• McPherson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y 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.
• Current owner paid $42k; list at $151k implies a 260% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $136,083 (9.9% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.90% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.12%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-21,935
• Equity at exit: $22,515

10-year hold

• IRR: -5.8%
• Equity multiple: 0.63×
• Total profit: $-15,794
• Equity at exit: $13,056

Cash invested: $42,280 (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 67460

• Active inventory: 149
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,361 medium
• Mortgage (P&I): −$792
• Tax from tax record: −$181 /mo · $2,169/yr
• Insurance: −$63
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $40

Break-even live

Break-even rent $1,311

Max offer price $151,000

Occupancy floor 92%

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: $37,750
• Closing costs: $4,530
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 Laurel Ct McPherson, KS	3.0	2.0	1596	$1,475	$0.92	13d	1	1.22mi
507 E Northview Ave McPherson, KS	1.0–3.0	1.0–2.0	900	$1,165	$1.29	13d	5	1.32mi

Listing history 5 events

1. 2026-05-13
   status Pending
2. 2026-04-03
   listed $151,000 Active
3. 2014-06-20
   soldstatus 604-char remark

   Show marketing remark (604 chars)

   Neat as a pin and a great open floor plan in this well maintained 3 bedroom home. Nice sized kitchen and main floor laundry room. There's a partial basement that is great for storage. Beautiful corner lot is well landscaped. The covered front porch has newer flooring. The covered back deck is great for relaxing on. Detached two car garage, dog run and lovely garden area. Roof was new in 2005, CH/CA and water heater in 2007. Steel and wood siding on house and vinyl and wood on garage. This home would be a great home for a first time home buyer! Call Sharon today for your private tour. Bsmt Finsh%:0

4. 2013-08-19
   listed $109,000 604-char remark

   Show marketing remark (604 chars)

   Neat as a pin and a great open floor plan in this well maintained 3 bedroom home. Nice sized kitchen and main floor laundry room. There's a partial basement that is great for storage. Beautiful corner lot is well landscaped. The covered front porch has newer flooring. The covered back deck is great for relaxing on. Detached two car garage, dog run and lovely garden area. Roof was new in 2005, CH/CA and water heater in 2007. Steel and wood siding on house and vinyl and wood on garage. This home would be a great home for a first time home buyer! Call Sharon today for your private tour. Bsmt Finsh%:0

5. 1991-04-01
   soldstatus $42,000

ⓘ 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: $2,169 · $181/mo
• Projected year-2 tax: $2,169 · $181/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,330
• − Mortgage interest: −$8,458
• − Property taxes: −$2,169
• − Insurance: −$755
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − Depreciation: −$4,393
• Taxable loss: −$2,058
• Est. tax savings @ 24.0%: +$494
• After-tax cash flow: $968/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: Mcpherson
• NCES district ID: 2009390
• Math proficiency: 25% ▼ -3.00%
• Reading proficiency: 32% ▲ 1.00%
• Median HH income: $54,750
• Composite: 25.39/100
• National rank: #7468
• State rank: #103 of 169 in KS

Livability — McPherson

• Score: 81/100
• State rank: #12
• US rank: #1567

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McPherson, KS
• County: McPherson County · 16,348 people
• City population: 16,348
• Metro: McPherson, KS
• Population (ZIP): 16,348
• Household income: $80,720
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 492.0

Population outlook (McPherson County) Hauer SSP2

• Today (2025): 28,958 people
• By 2030: 28,735 · -0.8%
• By 2040: 28,020 · -3.2%
• By 2050: 27,276 · -5.8%
• By 2075: 26,211 · -9.5%
• By 2100: 23,976 · -17.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 4% Iranian 3% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · McPherson

• 2024 margin: Solid R (+41.1) · D 28.5% · R 69.6% · Other 1.9%
• 2008→2024 swing: -5.8pp toward R · 2008: -35.3pp · 2024: -41.1pp
• All cycles: 2024: R+41.1 2020: R+40.3 2016: R+42.0 2012: R+41.6 2008: R+35.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -216.18%
• Current HPI: 155.3302
• Rent YoY: —
• Metro: McPherson, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+259.5% since first listed

5 events — show timeline

• 2026-05-13 Pending — MKMLS as distributed by MLS GRID
• 2026-04-03 Listed $151,000 MKMLS as distributed by MLS GRID
• 2014-06-20 Sold (MLS) — MKMLS as distributed by MLS GRID
• 2013-08-19 Listed $109,000 MKMLS as distributed by MLS GRID
• 1991-04-01 Sold (Public Records) $42,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,169 · +3.4% YoY. Source: county tax records.