1402 N Kentucky St · Iola, KS 66749

$130,000

3 bd · 2.0 ba · 1,586 sqft · SingleFamily public records · 332 Days on market

Built 1928 1.91 ac lot Est $167k · 22% under

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Why this score? — see what drove the C+ 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 +23.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +6.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Key facts

• Utility room
• Storage shed
• Storm shelter

Tags

• 1.91 ACRES
• UTILITY ROOM
• STORM SHELTER
• STORAGE SHED

Property features AI

Finance

• Other: Property is not in a flood plain
• HOA & community: No association fees

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; One-story (bungalow)
• Construction: Frame construction; Composition roof; Built approximately 76–100 years ago
• Exterior features: Nearly 2-acre lot

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 3 bedrooms (all on the first floor)
• Bathrooms: 2 full bathrooms (both on the first floor)
• Heating & cooling: Natural gas heating; Electric cooling (central)
• Interior features: Bungalow floor plan; Crawl space basement
• Laundry & utility: Laundry room on the first floor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 5.8% in Iola — 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 71/100 on livability (#150 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.
• Iola (town): math 18% / reading 31% proficiency, ranked #140 of 169 in KS (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 63 active listings in the ZIP; 18 units permitted in Allen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Allen County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 332 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $68k; list at $130k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 332 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.11% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.89%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $166,530
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
321 E Buchanan St	0.56mi	3/2.0	1,632 (+3%)	3mo	$159,500	$98	67
811 E Garfield St	0.24mi	3/1.5	1,352 (-15%)	8mo	$142,000	$105	56
502 N Tennessee St	0.53mi	4/2.0 (+1)	1,688 (+6%)	8mo	$69,500	$41	53
1024 Meadowbrook Rd W	0.44mi	3/1.5	1,423 (-10%)	10mo	$179,000	$126	52
502 N Vermont St	0.55mi	2/2.0 (-1)	1,750 (+10%)	6mo	$43,000	$25	47
1516 E Lincoln St	0.57mi	4/3.0 (+1)	1,716 (+8%)	5mo	$189,000	$110	46
901 E Douglas St	0.64mi	3/2.0	1,500 (-5%)	22mo	$183,000	$122	43
324 N 2nd St	0.64mi	3/1.0	1,485 (-6%)	19mo	$79,947	$54	39
915 Pryor St	0.71mi	3/2.0	1,414 (-11%)	23mo	$181,500	$128	29

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.84×
• Total profit: $-5,803
• Equity at exit: $19,383

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $14,661
• Equity at exit: $11,240

Cash invested: $36,400 (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 66749

• Home prices YoY: -32.6%
• Active inventory: 63
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,440 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $239

Break-even live

Break-even rent $1,137

Max offer price $130,000

Occupancy floor 78%

Sensitivity live

Price	-10% $329	-5% $284	+0% $239	+5% $194	+10% $149
Rent	-10% $126	-5% $182	+0% $239	+5% $296	+10% $353
Rate	-1.0pp $305	-0.5pp $272	base $239	+0.5pp $206	+1.0pp $171

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2025-07-01
   listed $130,000 Active
2. 2000-06-01
   soldstatus
3. 1998-03-01
   soldstatus $67,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $17,282
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,383
• − Management: −$1,383
• − Depreciation: −$3,782
• Taxable income: $853
• Est. tax owed @ 24.0%: −$205
• After-tax cash flow: $2,667/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: Iola
• NCES district ID: 2007740
• Math proficiency: 18% ▼ -5.00%
• Reading proficiency: 31% ▼ -3.00%
• Median HH income: $38,749
• Composite: 20.52/100
• National rank: #8567
• State rank: #140 of 169 in KS

Livability — Iola

• Score: 71/100
• State rank: #150
• US rank: #7275

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iola, KS
• Population (ZIP): 7,452

Population outlook (Allen County) Hauer SSP2

• Today (2025): 11,885 people
• By 2030: 11,352 · -4.5%
• By 2040: 10,285 · -13.5%
• By 2050: 9,342 · -21.4%
• By 2075: 7,482 · -37.0%
• By 2100: 5,871 · -50.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 4% Two or more races 4% Black 3% Native American 1% Pacific Islander 1%
• Common ancestry: Italian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Allen

• 2024 margin: Solid R (+46.1) · D 25.8% · R 72.0% · Other 2.2%
• 2008→2024 swing: -22.9pp toward R · 2008: -23.3pp · 2024: -46.1pp
• All cycles: 2024: R+46.1 2020: R+44.4 2016: R+41.0 2012: R+27.2 2008: R+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.20%
• Current HPI: 151.1778
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+92.6% since first listed

3 events — show timeline

• 2025-07-01 Listed $130,000 Heartland MLS as Distributed by MLS Grid
• 2000-06-01 Sold (Public Records) — Public Records
• 1998-03-01 Sold (Public Records) $67,500 Public Records