515 E Bungalow St · Richmond, KS 66080

$105,000

3 bd · 2.0 ba · 1,749 sqft · SingleFamily public records · 6 Days on market

Built 1999 0.57 ac lot Est $177k · 41% under ↓ 15% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +13.1/30.0
• Appreciation +9.0/10.0
• 1% rule +5.7/10.0
• DSCR +3.9/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

CONTRACT FLIPPED! NO FAULT OF SELLER OR HOME ! MOTIVATED SELLER!!!COMFORTABLE FAMILY LIVING IN THIS LOVELY RANCH! ALMOST 1800 SQ. FT ON MAIN FLOOR FEATURES LG. LIV. RM. W/ COFERED CEILING-EAT IN KIT/DR-MASTER SUITE W/ LG. MASTER BA-LOVELY TILE IN SEPARATE SHOWER UNIT-ALSO JACUZZI TUB-WALK IN CLOSET-SOME FINISHING DONE FOR YOU IN THE BASEMENT-HAS EGRESS WINDOW-STUDS & SOME SHEETROCK COMPLETED-HUGE LOT INCLUDES LAND TO W OF HOME! THIS IS A LOVELY HOME WITH PLENTY OF ROOM FOR THE FAMILY! ADDITIONAL 2 BEDROOMS IN BASEMENT JUST NEED FLOOR COVERING-FAMILY ROOM & STORAGE OR REC. RM TOO!

Key facts

• Large lot
• Fenced backyard
• 0.57 acre lot

Tags

• FENCED BACKYARD
• FULL UNFINISHED BASEMENT
• LARGE LOT

Property features AI

Finance

• HOA & community: No association fees

Exterior

• Parking: Attached 2-car garage
• Utilities: City/public water (verify); Public sewer
• Home design: Single-family residence; Ranch style; One story (main level entry)
• Construction: Frame construction; Composition roof; Built approximately 21–30 years ago
• Exterior features: Deck; Porch; Privacy fencing; Shed(s); City lot within city limits; Lot dimensions approximately 262 x 137

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 3 bedrooms (all on main level)
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Ranch floor plan; Full unfinished basement
• Laundry & utility: Utility spaces in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $-4 ($-44/yr) — negative.
• To cash-flow at today's rent, offer at most $104k (0.6% below list).
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $104k (0.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 65/100 on livability (#303 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Central Heights (rural): math 36% / reading 42% proficiency, ranked #34 of 169 in KS (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Heights Elem (math 37% / reading 52%, grade F, #228 of 684 statewide, top 38%, 247 students, 54% FRL); Central Heights High (math 32% / reading 37%, grade F, #32 of 327 statewide, top 13%, 294 students, 49% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 13 active listings in the ZIP; 85 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($726 loan paydown + $8k appreciation (7.9% local appreciation)).
• Franklin County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.9% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price.

Recommended offer $104,348 (0.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.07% ✓
• Cap rate: 6.25%
• Cash-on-cash: -0.15%
• DSCR: 0.99
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $176,649
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
515 E Bungalow St	0.00mi	3/2.0	1,749 (0%)	0mo	$105,000	$60	100
518 E Bungalow St	0.04mi	4/1.5 (+1)	1,832 (+5%)	12mo	$185,000	$101	73

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 2.45×
• Total profit: $42,732
• Equity at exit: $79,338

10-year hold

• IRR: 18.5%
• Equity multiple: 5.23×
• Total profit: $124,388
• Equity at exit: $157,074

Cash invested: $29,400 (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 66080

• Home prices YoY: 2.2%
• Active inventory: 13
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,128 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$300 /mo · $3,601/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $-4

Break-even live

Break-even rent $1,132

Max offer price $104,348

Occupancy floor 95%

Sensitivity live

Price	-10% $56	-5% $26	+0% $-4	+5% $-33	+10% $-63
Rent	-10% $-93	-5% $-48	+0% $-4	+5% $41	+10% $85
Rate	-1.0pp $49	-0.5pp $23	base $-4	+0.5pp $-31	+1.0pp $-59

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-19
   status Pending
2. 2026-05-12
   listed $105,000 Active
3. 2015-11-05
   soldstatus 599-char remark

   Show marketing remark (599 chars)

   CONTRACT FLIPPED! NO FAULT OF SELLER OR HOME ! MOTIVATED SELLER!!!COMFORTABLE FAMILY LIVING IN THIS LOVELY RANCH! ALMOST 1800 SQ. FT ON MAIN FLOOR FEATURES LG. LIV. RM. W/ COFERED CEILING-EAT IN KIT/DR-MASTER SUITE W/ LG. MASTER BA-LOVELY TILE IN SEPARATE SHOWER UNIT-ALSO JACUZZI TUB-WALK IN CLOSET-SOME FINISHING DONE FOR YOU IN THE BASEMENT-HAS EGRESS WINDOW-STUDS & SOME SHEETROCK COMPLETED-HUGE LOT INCLUDES LAND TO W OF HOME! THIS IS A LOVELY HOME WITH PLENTY OF ROOM FOR THE FAMILY! ADDITIONAL 2 BEDROOMS IN BASEMENT JUST NEED FLOOR COVERING-FAMILY ROOM & STORAGE OR REC. RM TOO!

4. 2014-07-21
   listed $119,900 599-char remark

   Show marketing remark (599 chars)

   CONTRACT FLIPPED! NO FAULT OF SELLER OR HOME ! MOTIVATED SELLER!!!COMFORTABLE FAMILY LIVING IN THIS LOVELY RANCH! ALMOST 1800 SQ. FT ON MAIN FLOOR FEATURES LG. LIV. RM. W/ COFERED CEILING-EAT IN KIT/DR-MASTER SUITE W/ LG. MASTER BA-LOVELY TILE IN SEPARATE SHOWER UNIT-ALSO JACUZZI TUB-WALK IN CLOSET-SOME FINISHING DONE FOR YOU IN THE BASEMENT-HAS EGRESS WINDOW-STUDS & SOME SHEETROCK COMPLETED-HUGE LOT INCLUDES LAND TO W OF HOME! THIS IS A LOVELY HOME WITH PLENTY OF ROOM FOR THE FAMILY! ADDITIONAL 2 BEDROOMS IN BASEMENT JUST NEED FLOOR COVERING-FAMILY ROOM & STORAGE OR REC. RM TOO!

5. 2013-02-19
   listed $125,000 302-char remark

   Show marketing remark (302 chars)

   Nice ranch house, lots of sq ft living space, in small community. Ready to move into. On a large corner lot. House has nice covered porch to sit on and enjoy. Also a concrete patio to put your grill on for entertaining. Basement is full with 2 bedrooms down (non-conforming) for a total of 5 bedrooms.

6. 2002-05-01
   soldstatus $123,500

ⓘ 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: $3,601 · $300/mo
• Projected year-2 tax: $3,601 · $300/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥108°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: $13,530
• − Mortgage interest: −$5,882
• − Property taxes: −$3,601
• − Insurance: −$525
• − Repairs & maintenance: −$1,082
• − Management: −$1,082
• − Depreciation: −$3,055
• Taxable loss: −$1,696
• Est. tax savings @ 24.0%: +$407
• After-tax cash flow: $363/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: Central Heights
• NCES district ID: 2000014
• Math proficiency: 36% ▼ -5.00%
• Reading proficiency: 42% ▼ -3.00%
• Median HH income: $53,409
• Composite: 33.97/100
• National rank: #5324
• State rank: #34 of 169 in KS

Livability — Richmond

• Score: 65/100
• State rank: #303
• US rank: #13322

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, KS
• Population (ZIP): 928

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 24,777 people
• By 2030: 24,116 · -2.7%
• By 2040: 22,426 · -9.5%
• By 2050: 20,555 · -17.0%
• By 2075: 17,149 · -30.8%
• By 2100: 14,526 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 15%
• Common ancestry: Italian 3% Iranian 3% Lithuanian 2%
• Foreign-born: 0%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+40.1) · D 28.9% · R 69.0% · Other 2.0%
• 2008→2024 swing: -17.6pp toward R · 2008: -22.5pp · 2024: -40.1pp
• All cycles: 2024: R+40.1 2020: R+38.4 2016: R+39.4 2012: R+30.4 2008: R+22.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.94%
• Current HPI: 363.0962
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-15.0% since first listed

6 events — show timeline

• 2026-05-19 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-12 Listed $105,000 Heartland MLS as Distributed by MLS Grid
• 2015-11-05 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2014-07-21 Listed $119,900 Heartland MLS as Distributed by MLS Grid
• 2013-02-19 Listed $125,000 Heartland MLS as Distributed by MLS Grid
• 2002-05-01 Sold (Public Records) $123,500 Public Records

Property tax history

+3.1%/yr

Latest (2025): $3,601 · +3.5% YoY. Source: county tax records.