1015 N 6th St · Independence, KS 67301

$79,900

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 30 Days on market

Built 1900 7,000 sqft lot Est $73k · 10% over

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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 +26.5/30.0
• DSCR +9.1/10.0
• 1% rule +7.0/10.0
• ARV discount +3.2/15.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Off street parking
• Adjoining lot
• Small orchard

Tags

• OFF STREET PARKING
• ADJOINING LOT
• SMALL ORCHARD

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; One-story (living area all above grade)
• Construction: Wood siding exterior; Composition roof; Approximately 101+ years old
• Exterior features: Lot approximately 100 x 140 ft; Not in a flood plain

Interior

• Bedrooms: Three bedrooms (all on the first level)
• Bathrooms: One full bathroom (on the first level)
• Heating & cooling: Natural gas heating; Electric cooling
• Interior features: Breakfast area; Crawl space basement

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $212 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($955 rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 4.0% in Independence — 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 65/100 on livability (#285 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.
• Independence (town): math 31% / reading 36% proficiency, ranked #76 of 169 in KS (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 69 active listings in the ZIP; 10 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Montgomery County population projected at -28% 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 $22k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 1.20% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.39%
• DSCR: 1.51
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $72,864
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1200 N 6th St	0.07mi	2/1.0 (-1)	1,080 (+2%)	10mo	$65,000	$60	80
1007 N Penn Ave	0.08mi	2/1.0 (-1)	1,008 (-4%)	8mo	$69,900	$69	77
112 W Oak St	0.18mi	2/1.0 (-1)	1,108 (+5%)	3mo	$10,000	$9	76
724 N 10th St	0.36mi	3/1.0	1,108 (+5%)	2mo	$70,000	$63	74
1708 Irving St	0.53mi	3/1.0	1,012 (-4%)	1mo	$90,000	$89	68
600 Riley St	0.43mi	3/1.0	950 (-10%)	5mo	$40,000	$42	59
1717 N 9th N/A	0.59mi	3/1.0	1,008 (-4%)	9mo	$115,000	$114	58
601 Landon Dr	0.69mi	3/1.0	1,008 (-4%)	6mo	$90,000	$89	55
1328 N 8 St	0.27mi	2/1.0 (-1)	910 (-14%)	8mo	$29,900	$33	53
1601 Halsey Ave	0.61mi	3/1.0	1,166 (+10%)	4mo	$115,000	$99	51
415 Westminster Pl	0.45mi	2/1.0 (-1)	1,205 (+14%)	1mo	$50,000	$41	50
609 W Beech St	0.46mi	2/2.0 (-1)	1,189 (+13%)	10mo	$135,000	$114	40

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: 0.7%
• Equity multiple: 1.03×
• Total profit: $588
• Equity at exit: $11,913

10-year hold

• IRR: 10.3%
• Equity multiple: 1.80×
• Total profit: $17,964
• Equity at exit: $6,908

Cash invested: $22,372 (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 67301

• Active inventory: 69
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $955 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$90 /mo · $1,081/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $212

Break-even live

Break-even rent $687

Max offer price $79,900

Occupancy floor 73%

Sensitivity live

Price	-10% $258	-5% $235	+0% $212	+5% $190	+10% $167
Rent	-10% $137	-5% $175	+0% $212	+5% $250	+10% $288
Rate	-1.0pp $253	-0.5pp $233	base $212	+0.5pp $192	+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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $79,900 Active 30 DOM
2. 2026-06-18
   days on market $79,900 Active 28 DOM
3. 2026-06-17
   days on market $79,900 Active 27 DOM
4. 2026-06-16
   days on market $79,900 Active 26 DOM
5. 2026-06-15
   days on market $79,900 Active 25 DOM
6. 2026-06-13
   days on market $79,900 Active 23 DOM
7. 2026-06-12
   days on market $79,900 Active 22 DOM
8. 2026-06-09
   days on market $79,900 Active 19 DOM
9. 2026-06-08
   days on market $79,900 Active 18 DOM
10. 2026-06-07
    days on market $79,900 Active 17 DOM
11. 2026-06-05
    days on market $79,900 Active 15 DOM
12. 2026-06-04
    days on market $79,900 Active 13 DOM
13. 2026-06-02
    days on market $79,900 Active 12 DOM
14. 2026-06-01
    days on market $79,900 Active 11 DOM
15. 2026-05-31
    days on market $79,900 Active 10 DOM
16. 2026-05-31
    days on market $79,900 Active 9 DOM
17. 2026-05-21
    listed $79,900 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: $1,081 · $90/mo
• Projected year-2 tax: $1,127 · $94/mo
• Expected delta: +$46/yr (+$4/mo · 4.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥109°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,464
• − Mortgage interest: −$4,476
• − Property taxes: −$1,081
• − Insurance: −$400
• − Repairs & maintenance: −$917
• − Management: −$917
• − Depreciation: −$2,324
• Taxable income: $1,350
• Est. tax owed @ 24.0%: −$324
• After-tax cash flow: $2,225/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: Independence
• NCES district ID: 2007650
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 36% ▲ 1.00%
• Median HH income: $43,327
• Composite: 28.45/100
• National rank: #6750
• State rank: #76 of 169 in KS

Livability — Independence

• Score: 65/100
• State rank: #285
• US rank: #12779

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: Independence, KS
• Population (ZIP): 12,996

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 29,729 people
• By 2030: 27,786 · -6.5%
• By 2040: 24,201 · -18.6%
• By 2050: 21,280 · -28.4%
• By 2075: 16,754 · -43.6%
• By 2100: 14,088 · -52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 10% Hispanic / Latino 6% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+51.1) · D 23.6% · R 74.7% · Other 1.8%
• 2008→2024 swing: -15.3pp toward R · 2008: -35.8pp · 2024: -51.1pp
• All cycles: 2024: R+51.1 2020: R+50.2 2016: R+50.8 2012: R+41.4 2008: R+35.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.85%
• Current HPI: 126.8212
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-21 Listed $79,900 Heartland MLS as Distributed by MLS Grid

Property tax history

+8.2%/yr

Latest (2025): $1,081 · +4.0% YoY. Source: county tax records.