604 N Vermont St · Iola, KS 66749

$110,000

3 bd · 2.0 ba · 1,724 sqft · SingleFamily public records · 2 Days on market

Built 1965 8,280 sqft lot Est $171k · 36% 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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• 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

• Updated windows
• Newer roof
• Solid foundation

Tags

• CORNER LOT
• SOLID FOUNDATION
• FLEXIBLE LIVING SPACE
• VERSATILE BONUS ROOM
• UPDATED WINDOWS
• NEWER ROOF

Property features AI

Finance

• Other: Property listed as a fixer; Above-grade finished area reported as 1,724 (public records)
• HOA & community: No association fees

Exterior

• Parking: Attached garage facing side (1-car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Ranch floor plan; Residential property
• Construction: Frame construction with lap siding; Composition roof; Crawl space foundation; Built approximately 51–75 years ago
• Exterior features: Patio; Porch; Metal fencing; Fixer-up condition; Located inside city limits; City lot with paved, publicly maintained road

Interior

• Kitchen: Breakfast area / Eat-in kitchen / Kitchen-dining combo
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Wood; Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: Ceiling fans
• Laundry & utility: Laundry room with electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $386 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 10.5% 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 $761 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $41k; list at $110k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $110,000

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.32% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.04%
• DSCR: 1.67
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $170,676
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 N Vermont St	0.07mi	2/2.0 (-1)	1,750 (+2%)	6mo	$43,000	$25	84
1516 E Lincoln St	0.08mi	4/3.0 (+1)	1,716 (-0%)	5mo	$189,000	$110	82
502 N Tennessee St	0.09mi	4/2.0 (+1)	1,688 (-2%)	8mo	$69,500	$41	81
733 N Elm St	0.46mi	4/2.0 (+1)	1,872 (+9%)	0mo	$259,000	$138	59
617 N Vermont St	0.05mi	3/1.5	1,954 (+13%)	20mo	$225,000	$115	57
321 E Buchanan St	0.70mi	3/2.0	1,632 (-5%)	3mo	$159,500	$98	56
1018 Meadowbrook Rd E	0.58mi	3/2.0	1,888 (+10%)	2mo	$199,900	$106	55
206 S 4th St	0.59mi	4/2.0 (+1)	1,911 (+11%)	1mo	$115,000	$60	48
106 & 110 S 4th St	0.55mi	4/1.0 (+1)	1,708 (-1%)	20mo	$169,900	$99	47
901 E Douglas St	0.38mi	3/2.0	1,500 (-13%)	22mo	$183,000	$122	42
324 N 2nd St	0.41mi	3/1.0	1,485 (-14%)	19mo	$79,947	$54	38

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: 5.7%
• Equity multiple: 1.22×
• Total profit: $6,779
• Equity at exit: $16,401

10-year hold

• IRR: 15.1%
• Equity multiple: 2.22×
• Total profit: $37,646
• Equity at exit: $9,511

Cash invested: $30,800 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,451 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $386

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 68%

Sensitivity live

Price	-10% $462	-5% $424	+0% $386	+5% $348	+10% $310
Rent	-10% $271	-5% $329	+0% $386	+5% $443	+10% $501
Rate	-1.0pp $441	-0.5pp $414	base $386	+0.5pp $357	+1.0pp $328

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-21
   days on market $110,000 Active 2 DOM
2. 2026-06-18
   listed $110,000 Active 1 DOM

ⓘ 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: $17,410
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,393
• − Management: −$1,393
• − Depreciation: −$3,200
• Taxable income: $3,063
• Est. tax owed @ 24.0%: −$735
• After-tax cash flow: $3,897/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

+168.9% since first listed

4 events — show timeline

• 2026-06-18 Listed $110,000 Heartland MLS as Distributed by MLS Grid
• 2026-06-17 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-06-17 Listed $11,000 Heartland MLS as Distributed by MLS Grid
• 1997-11-01 Sold (Public Records) $40,900 Public Records