117 W 2nd St · Galena, KS 66739

$115,000

3 bd · 1.0 ba · 1,066 sqft · SingleFamily public records · 139 Days on market

Built 1956 0.38 ac 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 +16.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 1% rule +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Key facts

• Storage shed
• Expansive backyard
• Fully fenced lot

Tags

• FULLY FENCED LOT
• HARDWOOD FLOORS
• ENCLOSED SUNPORCH
• EXPANSIVE BACKYARD
• STORAGE SHED

Property features AI

Finance

• Financial info: Annual tax amount listed

Exterior

• Parking: No designated parking
• Utilities: Public sewer
• Home design: Single-family residence (freestanding)
• Construction: Shingle roof; Block foundation; Built as single-story (above grade finished area listed)
• Exterior features: Chain link fenced yard; Storage structure on the property; Level topography; Corner lot (110 x 150)

Interior

• Kitchen: Gas range; Refrigerator
• Flooring: Vinyl; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating; Window unit cooling
• Interior features: Gas range; Refrigerator; Washer; Dryer; Vinyl and wood flooring; Crawl space basement; Total of 7 rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $67 ($804/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 $99k (14.0% below list).
• Recommended offer: $99k (14.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#239 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime F, amenities F, commute F.
• Galena (town): math 23% / reading 35% proficiency, ranked #118 of 169 in KS (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Spring Grove Primary Center (213 students, 65% FRL); Galena Middle School (math 22% / reading 37%, grade F, #72 of 219 statewide, top 38%, 164 students, 63% FRL); Galena High (math 15% / reading 24%, grade F, #198 of 327 statewide, top 66%, 251 students, 58% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 55 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; 17 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cherokee County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,934 (14.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — 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. 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. 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?
8. 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.
9. 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.
10. 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: 0.86% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.50%
• DSCR: 1.11
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $65,026
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1011 Joplin Ave	0.52mi	2/1.0 (-1)	944 (-11%)	22mo	$58,000	$61	34

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: -12.4%
• Equity multiple: 0.55×
• Total profit: $-14,404
• Equity at exit: $17,147

10-year hold

• IRR: -3.3%
• Equity multiple: 0.78×
• Total profit: $-7,190
• Equity at exit: $9,943

Cash invested: $32,200 (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 66739

• Home prices YoY: -15.5%
• Active inventory: 55
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $989 high
• Mortgage (P&I): −$603
• Tax from tax record: −$64 /mo · $763/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $67

Break-even live

Break-even rent $905

Max offer price $115,000

Occupancy floor 88%

Sensitivity live

Price	-10% $132	-5% $100	+0% $67	+5% $34	+10% $2
Rent	-10% $-11	-5% $28	+0% $67	+5% $106	+10% $145
Rate	-1.0pp $125	-0.5pp $96	base $67	+0.5pp $37	+1.0pp $7

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
714 Columbus St Unit A Galena, KS	3.0	2.0	1170	$1,000	$0.85	45d	1	0.59mi
714 Columbus St Unit B Galena, KS	3.0	2.0	1170	$1,000	$0.85	23d	1	0.59mi
714 Columbus St Galena, KS	3.0	2.0	1170	$1,000	$0.85	23d	1	0.59mi
718 Columbus St Galena, KS	3.0	2.0	1170	$1,000	$0.85	45d	1	0.59mi
718 Columbus St Unit A Galena, KS	3.0	2.0	1170	$1,000	$0.85	45d	1	0.59mi
1001 E 5th St Unit B Galena, KS	2.0	1.0	900	$950	$1.06	45d	1	0.63mi
1113 Chica Ln Unit 1 Galena, KS	2.0	1.0	1000	$965	$0.96	45d	1	0.76mi

Listing history 7 events

1. 2026-05-01
   status Pending
2. 2026-02-26
   price $115,000
3. 2025-12-13
   listed $125,000 Active
4. 2025-10-23
   price $125,000
5. 2025-06-26
   price $135,000
6. 2024-08-08
   historical
7. 2024-07-29
   listed $57,000 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: $763 · $64/mo
• Projected year-2 tax: $1,622 · $135/mo
• Expected delta: +$858/yr (+$72/mo · 112.4%)

ⓘ 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 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $11,872
• − Mortgage interest: −$6,442
• − Property taxes: −$763
• − Insurance: −$575
• − Repairs & maintenance: −$950
• − Management: −$950
• − Depreciation: −$3,345
• Taxable loss: −$1,153
• Est. tax savings @ 24.0%: +$277
• After-tax cash flow: $1,080/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: Galena
• NCES district ID: 2006360
• Math proficiency: 23% ▼ -1.00%
• Reading proficiency: 35% ▲ 6.00%
• Median HH income: $38,223
• Composite: 24.21/100
• National rank: #7727
• State rank: #118 of 169 in KS

Livability — Galena

• Score: 67/100
• State rank: #239
• US rank: #10647

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Galena, KS
• Population (ZIP): 5,240

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 18,848 people
• By 2030: 17,862 · -5.2%
• By 2040: 15,850 · -15.9%
• By 2050: 13,915 · -26.2%
• By 2075: 10,102 · -46.4%
• By 2100: 6,977 · -63.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 11% Native American 2% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Italian 2% Swedish 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 99% English-only · Chinese 1%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+52.9) · D 22.6% · R 75.5% · Other 1.9%
• 2008→2024 swing: -29.2pp toward R · 2008: -23.7pp · 2024: -52.9pp
• All cycles: 2024: R+52.9 2020: R+49.9 2016: R+48.4 2012: R+29.5 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.57%
• Current HPI: 172.0001
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+101.8% since first listed

7 events — show timeline

• 2026-05-01 Pending — OGAR
• 2026-02-26 Price Changed $115,000 OGAR
• 2025-12-13 Listed $125,000 OGAR
• 2025-10-23 Price Changed $125,000 OGAR
• 2025-06-26 Price Changed $135,000 OGAR
• 2024-08-08 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-07-29 Listed $57,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2025): $763 · +7.9% YoY. Source: county tax records.