329 S Center St · Gardner, KS 66030

$129,950

2 bd · 1.0 ba · 828 sqft · SingleFamily public records · 359 Days on market

Built 1920 0.49 ac lot Est $184k · 29% 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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +7.1/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

INVESTOR OPPORTUNITY, Rare property for sale on 1/2 acre lot with wonderful potential opportunities. Close to downtown historic Gardner. Two bedrooms, galley style kitchen, dining room, laundry porch, addition storage room, and living room. Bring your ideas and redesign this home to an amazing home with room to extend. HUGE LOT Seller is ready to negotiate with a cash or preapproved buyer. Seller will not make any repairs selling AS IS.

Key facts

• 1/2 acre lot
• Galley style kitchen
• 0.49 acre lot

Tags

• 1/2 ACRE LOT
• GALLEY STYLE KITCHEN
• ADDITION STORAGE ROOM

Property features AI

Finance

• Other: Approximately 0.49-acre lot
• HOA & community: No association fees

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Bungalow-style; Residential property
• Construction: Frame construction; Composition roof; Crawl space basement; About 101+ years old
• Exterior features: Porch; City lot; Level lot

Interior

• Kitchen: Refrigerator; Gas range
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Electric cooling; Window unit(s)
• Interior features: Ceiling fan(s); Storm windows (partial)
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 3.1% in Gardner — 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 75/100 on livability (#61 in KS, #3,865 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: amenities F, commute F.
• Gardner Edgerton (suburban): math 32% / reading 37% proficiency, ranked #50 of 169 in KS (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.2%/yr); 277 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 2,969 units permitted in Johnson County in 2024 (1,066 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Johnson County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 359 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y ago; this cycle's ask has dropped $40k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,356 (12.0% below list)

Questions for the listing agent

1. It's been on market 359 days. Have you received any prior offers? Is the seller open to a 12% 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 1.21% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.75%
• DSCR: 1.48
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $183,816
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
236 W Park St	0.42mi	2/1.0	896 (+8%)	11mo	$190,000	$212	58
154 W Main St	0.39mi	2/1.0	896 (+8%)	15mo	$215,000	$240	56
230 N Walnut St	0.62mi	3/1.0 (+1)	945 (+14%)	20mo	$210,000	$222	26

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 · 2.22% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,496
• Equity at exit: $19,376

10-year hold

• IRR: 7.8%
• Equity multiple: 1.57×
• Total profit: $20,612
• Equity at exit: $11,236

Cash invested: $36,386 (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 66030

• Home prices YoY: -28.4%
• Rents YoY: 2.2%
• Active inventory: 277
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,573 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$181 /mo · $2,178/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $326

Break-even live

Break-even rent $1,161

Max offer price $129,950

Occupancy floor 74%

Sensitivity live

Price	-10% $399	-5% $363	+0% $326	+5% $289	+10% $252
Rent	-10% $202	-5% $264	+0% $326	+5% $388	+10% $450
Rate	-1.0pp $391	-0.5pp $359	base $326	+0.5pp $292	+1.0pp $258

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: $32,488
• Closing costs: $3,898
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 S Moonlight Rd Gardner, KS	1.0–2.0	1.0–2.0	839	$1,600	$1.91	2d	20	0.77mi

Listing history 12 events

1. 2026-06-19
   status $129,950 Active 359 DOM
2. 2026-05-20
   status Pending
3. 2026-05-15
   price $129,950
4. 2026-04-27
   status Active
5. 2026-03-31
   historical
6. 2026-02-17
   price $145,000
7. 2025-06-05
   price $159,950
8. 2025-04-29
   listed $169,950 Active
9. 2008-09-02
   historical
10. 2008-07-18
    listed $89,900
11. 2003-12-30
    soldstatus
12. 2002-11-17
    listed $87,500

ⓘ 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: $2,178 · $181/mo
• Projected year-2 tax: $2,178 · $181/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,879
• − Mortgage interest: −$7,279
• − Property taxes: −$2,178
• − Insurance: −$650
• − Repairs & maintenance: −$1,510
• − Management: −$1,510
• − Depreciation: −$3,780
• Taxable income: $1,972
• Est. tax owed @ 24.0%: −$473
• After-tax cash flow: $3,436/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: Gardner Edgerton
• NCES district ID: 2006420
• Math proficiency: 32% ▼ -7.00%
• Reading proficiency: 37% ▼ -2.00%
• Median HH income: $67,086
• Composite: 31.55/100
• National rank: #5957
• State rank: #50 of 169 in KS

Livability — Gardner

• Score: 75/100
• State rank: #61
• US rank: #3865

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gardner, KS
• County: Johnson County · 574,662 people
• City population: 26,328
• Metro: Kansas City, MO-KS
• Population (ZIP): 26,328
• Household income: $97,822
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 410.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 663,396 people
• By 2030: 702,585 · +5.9%
• By 2040: 775,386 · +16.9%
• By 2050: 841,772 · +26.9%
• By 2075: 994,137 · +49.9%
• By 2100: 1,073,036 · +61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 9% Two or more races 7% Black 7% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 3% Iranian 2% Italian 2%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Johnson

• 2024 margin: Lean D (+8.5) · D 53.4% · R 44.9% · Other 1.8%
• 2008→2024 swing: +17.5pp toward D · 2008: -9.0pp · 2024: 8.5pp
• All cycles: 2024: D+8.5 2020: D+8.2 2016: R+2.7 2012: R+17.8 2008: R+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.70%
• Current HPI: 253.9021
• Rent YoY: ▲ 2.22%
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+48.5% since first listed

11 events — show timeline

• 2026-05-20 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-15 Price Changed $129,950 Heartland MLS as Distributed by MLS Grid
• 2026-04-27 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-03-31 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-02-17 Price Changed $145,000 Heartland MLS as Distributed by MLS Grid
• 2025-06-05 Price Changed $159,950 Heartland MLS as Distributed by MLS Grid
• 2025-04-29 Listed $169,950 Heartland MLS as Distributed by MLS Grid
• 2008-09-02 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2008-07-18 Listed $89,900 Heartland MLS as Distributed by MLS Grid
• 2003-12-30 Sold (Public Records) — Public Records
• 2002-11-17 Listed $87,500 CBMLS

Property tax history

+6.1%/yr

Latest (2025): $2,178 · +12.7% YoY. Source: county tax records.