407 W 3rd St · Franklin, KS 66735

$80,000

3 bd · 1.0 ba · 1,410 sqft · SingleFamily public records · 42 Days on market

Built 1960 Poor condition 1.30 ac lot Est $158k · 49% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +1.7/10.0
• Condition / age +1.0/5.0

Listing remarks MLS

Over 400 feet of prime highway frontage comes with this 4-bedroom, 1 bath home. The metal roof and HVAC unit are brand new. This property is approximately 1.3 acres and is totally fenced. It also includes a 15X28 pole barn and a 26x30 detached garage. The 4th bedroom does not have a closet and is currently being used as an office

Key facts

• Highway frontage
• Metal roof
• Pole barn

Tags

• HIGHWAY FRONTAGE
• METAL ROOF
• HVAC UNIT
• TOTALLY FENCED
• POLE BARN
• DETACHED GARAGE

Property features AI

Finance

• Other: Lot is approximately 1.3 acres; Public maintenance roads
• HOA & community: No association fees

Exterior

• Parking: Detached garage; Two garage spaces; Off-street parking
• Utilities: Public water; Septic tank sewage
• Home design: Single-family residence (residential property); Bungalow floor plan; Frame construction; Metal roof; Above-grade finished living area reported
• Construction: Frame construction; Metal roof
• Exterior features: Patio; Paved road access; Property not in a flood plain; Outbuilding(s) on the property

Interior

• Kitchen: Kitchen on the main level (vinyl flooring, approx. 15x15.5)
• Bedrooms: Four bedrooms on the main level (sizes include approximately 13x13, 10x10, 7.5x10, 9.5x8)
• Flooring: Carpet in several rooms (including living room, some bedrooms, utility room); Vinyl flooring in kitchen and bathroom
• Bathrooms: One full bathroom on the main level (vinyl flooring, approx. 9x6.5)
• Heating & cooling: Natural gas heating; Wood heating; Electric cooling (air conditioning present)
• Interior features: Storm windows; Enclosed porch; Crawl space basement; Partial, unfinished basement with sump pump; One fireplace located in the family room
• Laundry & utility: Main-level utility room (carpeted, approx. 15x11.5)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 50/100 on livability (#627 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Northeast (rural): math 18% / reading 22% proficiency, ranked #159 of 169 in KS (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 3 active listings in the ZIP; 65 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($553 loan paydown + $2k appreciation (2.3% local appreciation)).
• At projected returns (2.3% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $19k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $77,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 1.51% ✓
• Cap rate: 13.03%
• Cash-on-cash: 24.07%
• DSCR: 2.07
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $157,920
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 W 4th St	0.08mi	3/2.0	1,414 (+0%)	23mo	$159,000	$112	73
207 E 2nd St	0.51mi	3/2.0	1,456 (+3%)	24mo	$235,000	$161	47
104 W 2nd St	0.37mi	2/1.5 (-1)	1,200 (-15%)	5mo	$95,500	$80	46
302 S Church St	0.57mi	3/1.0	1,248 (-12%)	23mo	$139,000	$111	35

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

Projected returns pro-forma

2.28% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.8%
• Equity multiple: 2.57×
• Total profit: $35,228
• Equity at exit: $32,765

10-year hold

• IRR: 30.0%
• Equity multiple: 4.98×
• Total profit: $89,161
• Equity at exit: $48,130

Cash invested: $22,400 (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 66735

• Home prices YoY: 1.2%
• Active inventory: 3
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,206 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$51 /mo · $607/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $449

Break-even live

Break-even rent $637

Max offer price $80,000

Occupancy floor 58%

Sensitivity live

Price	-10% $495	-5% $472	+0% $449	+5% $427	+10% $404
Rent	-10% $354	-5% $402	+0% $449	+5% $497	+10% $545
Rate	-1.0pp $490	-0.5pp $470	base $449	+0.5pp $429	+1.0pp $408

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $80,000 Active 42 DOM
2. 2026-06-18
   days on market $80,000 Active 41 DOM
3. 2026-06-17
   days on market $80,000 Active 40 DOM
4. 2026-06-16
   days on market $80,000 Active 39 DOM
5. 2026-06-15
   days on market $80,000 Active 38 DOM
6. 2026-06-14
   days on market $80,000 Active 36 DOM
7. 2026-06-12
   pricedays on market $80,000 Active 35 DOM
8. 2026-06-09
   days on market $99,000 Active 32 DOM
9. 2026-06-08
   days on market $99,000 Active 31 DOM
10. 2026-06-07
    days on market $99,000 Active 30 DOM
11. 2026-06-05
    days on market $99,000 Active 28 DOM
12. 2026-06-03
    days on market $99,000 Active 26 DOM
13. 2026-06-02
    days on market $99,000 Active 25 DOM
14. 2026-06-01
    days on market $99,000 Active 24 DOM
15. 2026-05-31
    days on market $99,000 Active 23 DOM
16. 2026-05-30
    days on market $99,000 Active 22 DOM
17. 2026-05-11
    listed $99,000 Active 331-char remark

    Show marketing remark (331 chars)

    Over 400 feet of prime highway frontage comes with this 4-bedroom, 1 bath home. The metal roof and HVAC unit are brand new. This property is approximately 1.3 acres and is totally fenced. It also includes a 15X28 pole barn and a 26x30 detached garage. The 4th bedroom does not have a closet and is currently being used as an office

18. 2026-05-08
    listed $99,000 Active

ⓘ 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: $607 · $51/mo
• Projected year-2 tax: $1,128 · $94/mo
• Expected delta: +$521/yr (+$43/mo · 85.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $14,472
• − Mortgage interest: −$4,481
• − Property taxes: −$607
• − Insurance: −$400
• − Repairs & maintenance: −$1,158
• − Management: −$1,158
• − Depreciation: −$2,327
• Taxable income: $4,341
• Est. tax owed @ 24.0%: −$1,042
• After-tax cash flow: $4,350/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to improve its condition and increase its value. The home's exterior and interior walls are in poor condition, and the flooring and kitchen appliances are outdated. Painting, replacing appliances, and updating the bathroom fixtures can significantly improve the home's value.

Repairs flagged

• Major Exterior siding — Severe damage and weathering
• Major Interior walls — Peeling and chipped paint
• Major Flooring — Worn and dirty carpet
• Major Kitchen cabinets — Dated and old
• Major Bathroom fixtures — Outdated and worn

Value-add opportunities

• Both Paint walls — Fresh paint can improve the overall appearance and value
• Both Replace appliances — Modern appliances can increase both resale and rental value
• Both Update bathroom fixtures — New fixtures can enhance the bathroom's appeal and value
• Both Replace flooring — Fresh carpet can improve the home's appearance and value
• Both Replace exterior siding — A new exterior can significantly increase the home's curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Severe damage and weathering	Major	$15,000–50,000
Interior walls · Peeling and chipped paint	Major	$15,000–50,000
Flooring · Worn and dirty carpet	Major	$15,000–50,000
Kitchen cabinets · Dated and old	Major	$15,000–50,000
Bathroom fixtures · Outdated and worn	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Paint walls — Fresh paint can improve the overall appearance and value ↑
• Both Replace appliances — Modern appliances can increase both resale and rental value ↑
• Both Update bathroom fixtures — New fixtures can enhance the bathroom's appeal and value ↑
• Both Replace flooring — Fresh carpet can improve the home's appearance and value ↑
• Both Replace exterior siding — A new exterior can significantly increase the home's curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Northeast
• NCES district ID: 2003480
• Math proficiency: 18% ▼ -10.00%
• Reading proficiency: 22% ▼ -2.00%
• Median HH income: $35,724
• Composite: 16.53/100
• National rank: #9180
• State rank: #159 of 169 in KS

Livability — Franklin

• Score: 50/100
• State rank: #627
• US rank: #25604

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, KS
• Population (ZIP): 800

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 (99%)
• Race & ethnicity: White 99%
• Common ancestry: Slovak 13% Lithuanian 5% Romanian 2%
• Languages at home: 98% English-only · Spanish 2%

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: ▲ 2.28%
• Current HPI: 186.0797
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

2 events — show timeline

• 2026-05-11 Listed $99,000 OGAR
• 2026-05-08 Listed $99,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2025): $607 · +8.9% YoY. Source: county tax records.