1426 Treece Rd · Wathena, KS 66090

$75,000

4 bd · 3.0 ba · 2,356 sqft · SingleFamily public records · 21 Days on market

Built 2009

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Paved road
• Driveway
• Barn

Tags

• PAVED ROAD
• DRIVEWAY
• BARN
• SMOKEHOUSE
• FRESH BUILD SITE
• RURAL WATER

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#297 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Market conditions: 8 active listings in the ZIP; 2 units permitted in Doniphan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($519 loan paydown + $8k appreciation (10.0% local appreciation)).
• Doniphan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.

Recommended offer $73,875 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.72% ✓
• Cap rate: 14.31%
• Cash-on-cash: 28.65%
• DSCR: 2.27
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.0%
• Equity multiple: 4.47×
• Total profit: $72,796
• Equity at exit: $67,566

10-year hold

• IRR: 39.9%
• Equity multiple: 10.01×
• Total profit: $189,301
• Equity at exit: $145,709

Cash invested: $21,000 (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 66090

• Home prices YoY: 9.6%
• Active inventory: 8
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,291 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $501

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 56%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $75,000 Active 21 DOM
2. 2026-06-18
   days on market $75,000 Active 20 DOM
3. 2026-06-17
   days on market $75,000 Active 19 DOM
4. 2026-06-16
   days on market $75,000 Active 18 DOM
5. 2026-06-15
   days on market $75,000 Active 17 DOM
6. 2026-06-14
   days on market $75,000 Active 15 DOM
7. 2026-06-12
   days on market $75,000 Active 14 DOM
8. 2026-06-09
   days on market $75,000 Active 11 DOM
9. 2026-06-08
   days on market $75,000 Active 10 DOM
10. 2026-06-07
    days on market $75,000 Active 9 DOM
11. 2026-06-05
    days on market $75,000 Active 7 DOM
12. 2026-06-04
    days on market $75,000 Active 5 DOM
13. 2026-06-02
    days on market $75,000 Active 4 DOM
14. 2026-06-01
    days on market $75,000 Active 3 DOM
15. 2026-05-31
    days on market $75,000 Active 2 DOM
16. 2026-05-30
    listed $75,000 Active

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥108°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,488
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$2,182
• Taxable income: $5,127
• Est. tax owed @ 24.0%: −$1,230
• After-tax cash flow: $4,785/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)

No district data.

Livability — Wathena

• Score: 65/100
• State rank: #297
• US rank: #13135

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,513

Population outlook (Doniphan County) Hauer SSP2

• Today (2025): 7,642 people
• By 2030: 7,442 · -2.6%
• By 2040: 7,085 · -7.3%
• By 2050: 6,806 · -10.9%
• By 2075: 6,511 · -14.8%
• By 2100: 6,309 · -17.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Lithuanian 2% Subsaharan African 2% Serbian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Russian/Polish/Slavic 1% German/W. Germanic 1%

Political lean MEDSL · Doniphan

• 2024 margin: Solid R (+63.5) · D 17.5% · R 81.0% · Other 1.4%
• 2008→2024 swing: -28.3pp toward R · 2008: -35.3pp · 2024: -63.5pp
• All cycles: 2024: R+63.5 2020: R+61.8 2016: R+59.9 2012: R+44.9 2008: R+35.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 14.36%
• Current HPI: 164.58
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-30 Listed $75,000 FSBO.com