146 W 8th St · Chapman, KS 67431

$75,000

5 bd · 2.0 ba · 1,501 sqft · SingleFamily public records · 38 Days on market

Built 1918 0.28 ac lot

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• Livability +3.8/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 0.28 acre lot
• Built 1918
• Listed 37 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Built with other construction materials
• Exterior features: Gravel road access; Lot in a residential zone (0.28 acres)

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Partially finished basement; Enclosed patio/porch; Partial fencing

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#69 in KS, #4,090 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Chapman (rural): math 29% / reading 37% proficiency, ranked #73 of 169 in KS (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 23 active listings in the ZIP; 26 units permitted in Dickinson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($519 loan paydown + $2k appreciation (2.7% local appreciation)).
• Dickinson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $64k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — 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. 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.
5. 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.
6. 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: 1.68% ✓
• Cap rate: 13.32%
• Cash-on-cash: 25.10%
• DSCR: 2.12
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.7%
• Equity multiple: 2.71×
• Total profit: $35,947
• Equity at exit: $32,542

10-year hold

• IRR: 31.3%
• Equity multiple: 5.30×
• Total profit: $90,219
• Equity at exit: $49,252

Cash invested: $21,000 (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 67431

• Home prices YoY: 1.6%
• Active inventory: 23
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,259 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$131 /mo · $1,570/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $439

Break-even live

Break-even rent $703

Max offer price $75,000

Occupancy floor 60%

Sensitivity live

Price	-10% $482	-5% $461	+0% $439	+5% $418	+10% $397
Rent	-10% $340	-5% $390	+0% $439	+5% $489	+10% $539
Rate	-1.0pp $477	-0.5pp $458	base $439	+0.5pp $420	+1.0pp $400

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $75,000 Active 38 DOM
2. 2026-06-18
   days on market $75,000 Active 37 DOM
3. 2026-06-17
   days on market $75,000 Active 36 DOM
4. 2026-06-16
   days on market $75,000 Active 35 DOM
5. 2026-06-15
   days on market $75,000 Active 34 DOM
6. 2026-06-14
   days on market $75,000 Active 32 DOM
7. 2026-06-13
   days on market $75,000 Active 31 DOM
8. 2026-06-10
   days on market $75,000 Active 29 DOM
9. 2026-06-09
   days on market $75,000 Active 28 DOM
10. 2026-06-08
    days on market $75,000 Active 27 DOM
11. 2026-06-07
    days on market $75,000 Active 26 DOM
12. 2026-06-05
    days on market $75,000 Active 23 DOM
13. 2026-06-03
    days on market $75,000 Active 22 DOM
14. 2026-06-02
    days on market $75,000 Active 21 DOM
15. 2026-06-01
    days on market $75,000 Active 20 DOM
16. 2026-05-31
    days on market $75,000 Active 19 DOM
17. 2026-05-30
    days on market $75,000 Active 18 DOM
18. 2026-05-05
    listed $75,000 Active
19. 2003-03-01
    soldstatus $64,000
20. 1996-09-01
    soldstatus $60,770
21. 1995-11-01
    soldstatus $35,000

ⓘ 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: $1,570 · $131/mo
• Projected year-2 tax: $1,570 · $131/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 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,109
• − Mortgage interest: −$4,201
• − Property taxes: −$1,570
• − Insurance: −$375
• − Repairs & maintenance: −$1,209
• − Management: −$1,209
• − Depreciation: −$2,182
• Taxable income: $4,364
• Est. tax owed @ 24.0%: −$1,047
• After-tax cash flow: $4,224/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: Chapman
• NCES district ID: 2004620
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 37% ▼ -5.00%
• Median HH income: $48,961
• Composite: 28.56/100
• National rank: #6726
• State rank: #73 of 169 in KS

Livability — Chapman

• Score: 75/100
• State rank: #69
• US rank: #4090

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chapman, KS
• Population (ZIP): 1,963

Population outlook (Dickinson County) Hauer SSP2

• Today (2025): 18,727 people
• By 2030: 18,312 · -2.2%
• By 2040: 17,433 · -6.9%
• By 2050: 16,493 · -11.9%
• By 2075: 14,441 · -22.9%
• By 2100: 11,707 · -37.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 8% Two or more races 7% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Italian 3% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Vietnam
• Languages at home: 98% English-only · Vietnamese 2% Spanish 1%

Political lean MEDSL · Dickinson

• 2024 margin: Solid R (+55.0) · D 21.8% · R 76.7% · Other 1.5%
• 2008→2024 swing: -12.8pp toward R · 2008: -42.2pp · 2024: -55.0pp
• All cycles: 2024: R+55.0 2020: R+54.1 2016: R+54.0 2012: R+47.7 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.72%
• Current HPI: 176.8864
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+114.3% since first listed

4 events — show timeline

• 2026-05-05 Listed $75,000 FHAOR as distributed by MLS GRID
• 2003-03-01 Sold (Public Records) $64,000 Public Records
• 1996-09-01 Sold (Public Records) $60,770 Public Records
• 1995-11-01 Sold (Public Records) $35,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $1,570 · +2.1% YoY. Source: county tax records.