609 N Smelter St · Pittsburg, KS 66762

$64,500

2 bd · 1.0 ba · 1,036 sqft · SingleFamily public records · 40 Days on market

Built 1910 7,500 sqft lot Est $95k · 32% 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
• Rent growth +5.0/5.0
• Livability +3.3/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Front porch
• 7,500 sq ft lot
• Built 1910

Tags

• FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 5.4% in Pittsburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#270 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A; Watch: schools D, crime F, amenities F.
• Pittsburg (town): math 29% / reading 31% proficiency, ranked #111 of 169 in KS (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+13.8%/yr); 139 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 65 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $446 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,565 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1910 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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: 1.62% ✓
• Cap rate: 14.02%
• Cash-on-cash: 27.61%
• DSCR: 2.23
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $95,312
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
510 E 9th St	0.15mi	2/2.0	1,055 (+2%)	10mo	$130,000	$123	78
409 E 8th St	0.14mi	3/1.0 (+1)	1,088 (+5%)	5mo	$115,000	$106	76
406 E 8th St	0.12mi	2/1.0	1,131 (+9%)	5mo	$79,900	$71	75
1002 E 13th St	0.61mi	2/1.0	988 (-5%)	0mo	$25,000	$25	64
303 E Euclid St	0.53mi	2/2.0	1,018 (-2%)	8mo	$178,500	$175	62
801 E 9th St	0.32mi	3/1.0 (+1)	1,152 (+11%)	4mo	$62,500	$54	58
902 E 9th St	0.41mi	3/1.0 (+1)	1,180 (+14%)	2mo	$38,000	$32	51
1503 N Joplin St	0.55mi	2/1.0	912 (-12%)	8mo	$93,000	$102	48
408 S Joplin St	0.64mi	3/1.0 (+1)	1,141 (+10%)	1mo	$105,000	$92	48
313 E Park St	0.73mi	3/2.0 (+1)	1,102 (+6%)	1mo	$167,500	$152	46
406 S Joplin St	0.63mi	3/1.0 (+1)	881 (-15%)	1mo	$38,000	$43	40
1208 E 8th St	0.74mi	3/1.5 (+1)	1,144 (+10%)	3mo	$50,000	$44	39

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 27.0%
• Equity multiple: 2.19×
• Total profit: $21,526
• Equity at exit: $9,617

10-year hold

• IRR: 37.4%
• Equity multiple: 5.31×
• Total profit: $77,920
• Equity at exit: $5,577

Cash invested: $18,060 (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 66762

• Rents YoY: 13.8%
• Active inventory: 139
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,045 high
• Mortgage (P&I): −$338
• Tax from tax record: −$45 /mo · $536/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $415

Break-even live

Break-even rent $519

Max offer price $64,500

Occupancy floor 55%

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: $16,125
• Closing costs: $1,935
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 S Elm St Pittsburg, KS	1.0	1.0	800	$600	$0.75	44d	1	0.46mi
1019 E 15th St Pittsburg, KS	3.0	1.0	1222	$1,050	$0.86	44d	1	0.77mi
102 Creekside Way Pittsburg, KS	2.0	2.0	1450	$2,000	$1.38	44d	2	0.83mi
511 W 2nd St Pittsburg, KS	2.0	1.0	846	$850	$1.00	44d	1	0.85mi
404 E Adams St Unit A Pittsburg, KS	2.0	1.0	750	$800	$1.07	44d	1	0.90mi
544 E 23rd St Pittsburg, KS	3.0	2.0	1190	$1,800	$1.51	44d	1	1.00mi
719 E Madison St Apt A Pittsburg, KS	3.0	3.0	1300	$1,200	$0.92	44d	1	1.12mi
1108 S Joplin St Pittsburg, KS	2.0	1.5	850	$775	$0.91	44d	2	1.13mi

Listing history 2 events

1. 2026-03-17
   status Pending
2. 2026-02-05
   listed $64,500 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: $536 · $45/mo
• Projected year-2 tax: $909 · $76/mo
• Expected delta: +$374/yr (+$31/mo · 69.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 19 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,535
• − Mortgage interest: −$3,613
• − Property taxes: −$536
• − Insurance: −$322
• − Repairs & maintenance: −$1,003
• − Management: −$1,003
• − Depreciation: −$1,876
• Taxable income: $4,182
• Est. tax owed @ 24.0%: −$1,004
• After-tax cash flow: $3,982/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: Pittsburg
• NCES district ID: 2010710
• Math proficiency: 29% ▼ -5.00%
• Reading proficiency: 31% ▼ -4.00%
• Median HH income: $33,608
• Composite: 24.63/100
• National rank: #7629
• State rank: #111 of 169 in KS

Livability — Pittsburg

• Score: 66/100
• State rank: #270
• US rank: #12149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsburg, KS
• County: Crawford County · 24,907 people
• City population: 24,907
• Metro: Pittsburg, KS
• Population (ZIP): 24,907
• Household income: $50,511
• Rent vs Own: 46.7% rent · 53.3% own
• Severe rent burden: 1186.0

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 10% Two or more races 5% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 6% Other Asian/Pacific 1%

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: ▼ -171.14%
• Current HPI: 158.7878
• Rent YoY: ▲ 13.80%
• Metro: Pittsburg, KS
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-03-17 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-02-05 Listed $64,500 Heartland MLS as Distributed by MLS Grid

Property tax history

+3.7%/yr

Latest (2025): $536 · +11.4% YoY. Source: county tax records.