401 S Kansas St · Lakin, KS 67860

$80,810

1 bd · 1.0 ba · 580 sqft · SingleFamily public records · 104 Days on market

Built 1920 7,000 sqft lot

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Why this score? — see what drove the D+ 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 +17.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Key facts

• Large corner lot
• Newer roof
• Storm cellar

Tags

• LARGE CORNER LOT
• NEWER ROOF
• DETACHED TWO-CAR GARAGE
• STORM CELLAR
• KITCHEN APPLIANCES REMAIN

Property features AI

Exterior

• Parking: Detached garage; 2 covered garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Masonite and metal siding; Composition roof; Concrete perimeter foundation; Built area above grade: 1,064
• Exterior features: Covered patio; No fencing; Garage(s) on property

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Blinds and wood-framed windows; Partial basement
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $81k.

Deal economics

• At list price, monthly cash flow is $59 ($703/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $78k (3.3% below list).
• Recommended offer: $74k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#251 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: employment D+, schools F, amenities F.
• Lakin (rural): math 21% / reading 29% proficiency, ranked #135 of 169 in KS (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 20 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $558 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Kearny County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $14k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $81k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,537 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.97% ✗
• Cap rate: 7.16%
• Cash-on-cash: 3.11%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.4%
• Equity multiple: 0.59×
• Total profit: $-9,351
• Equity at exit: $12,049

10-year hold

• IRR: -2.1%
• Equity multiple: 0.85×
• Total profit: $-3,288
• Equity at exit: $6,987

Cash invested: $22,627 (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 67860

• Home prices YoY: -30.1%
• Active inventory: 20
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $781 medium
• Mortgage (P&I): −$424
• Tax est. 1.5%: −$101 /mo · $1,212/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$164
• Net cashflow: $59

Break-even live

Break-even rent $707

Max offer price $80,810

Occupancy floor 88%

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: $20,202
• Closing costs: $2,424
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $80,810 Active 104 DOM
2. 2026-06-17
   days on market $80,810 Active 103 DOM
3. 2026-06-16
   days on market $80,810 Active 102 DOM
4. 2026-06-15
   days on market $80,810 Active 101 DOM
5. 2026-06-13
   days on market $80,810 Active 99 DOM
6. 2026-06-12
   days on market $80,810 Active 98 DOM
7. 2026-06-09
   pricedays on market $80,810 Active 95 DOM
8. 2026-06-08
   days on market $82,810 Active 94 DOM
9. 2026-06-07
   days on market $82,810 Active 93 DOM
10. 2026-06-05
    days on market $82,810 Active 91 DOM
11. 2026-06-04
    days on market $82,810 Active 89 DOM
12. 2026-06-02
    days on market $82,810 Active 88 DOM
13. 2026-06-01
    days on market $82,810 Active 87 DOM
14. 2026-05-31
    days on market $82,810 Active 86 DOM
15. 2026-05-31
    days on market $82,810 Active 85 DOM
16. 2026-04-16
    price $82,810
17. 2026-04-13
    status Active
18. 2026-04-06
    status Pending
19. 2026-03-10
    price $89,900
20. 2026-02-27
    listed $95,000 Active
21. 1999-06-01
    soldstatus $36,000

ⓘ 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 3/10 Moderate 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,373
• − Mortgage interest: −$4,527
• − Property taxes: −$1,212
• − Insurance: −$404
• − Repairs & maintenance: −$750
• − Management: −$750
• − Depreciation: −$2,351
• Taxable loss: −$620
• Est. tax savings @ 24.0%: +$149
• After-tax cash flow: $852/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: Lakin
• NCES district ID: 2008280
• Math proficiency: 21% ▲ 2.00%
• Reading proficiency: 29% ▲ 6.00%
• Median HH income: $48,920
• Composite: 21.93/100
• National rank: #8226
• State rank: #135 of 169 in KS

Livability — Lakin

• Score: 67/100
• State rank: #251
• US rank: #11061

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakin, KS
• Population (ZIP): 2,646

Population outlook (Kearny County) Hauer SSP2

• Today (2025): 4,030 people
• By 2030: 4,050 · +0.5%
• By 2040: 4,139 · +2.7%
• By 2050: 4,281 · +6.2%
• By 2075: 4,889 · +21.3%
• By 2100: 5,537 · +37.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 31% Two or more races 16% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Slovak 2% Iranian 2% Romanian 1%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 78% English-only · Spanish 21% German/W. Germanic 1%

Political lean MEDSL · Kearny

• 2024 margin: Solid R (+68.4) · D 14.8% · R 83.2% · Other 2.1%
• 2008→2024 swing: -11.0pp toward R · 2008: -57.4pp · 2024: -68.4pp
• All cycles: 2024: R+68.4 2020: R+62.2 2016: R+62.2 2012: R+59.6 2008: R+57.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.54%
• Current HPI: 175.6943
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+130.0% since first listed

6 events — show timeline

• 2026-04-16 Price Changed $82,810 GardenMLS
• 2026-04-13 Relisted — GardenMLS
• 2026-04-06 Pending — GardenMLS
• 2026-03-10 Price Changed $89,900 GardenMLS
• 2026-02-27 Listed $95,000 GardenMLS
• 1999-06-01 Sold (Public Records) $36,000 Public Records