2405 Grand Ave · Parsons, KS 67357

$44,900

2 bd · 1.0 ba · 1,418 sqft · SingleFamily public records · 89 Days on market

Built 1907 7,500 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Key facts

• Central heat and air
• New flooring
• All appliances

Tags

• NEW FLOORING
• FRESH INTERIOR PAINT
• CENTRAL HEAT AND AIR
• ALL APPLIANCES
• DETACHED GARAGE

Property features AI

Finance

• Other: Not in a flood plain
• HOA & community: No association fees

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; One-story (main level living indicated); Above-grade finished area recorded (public records)
• Construction: Frame construction; Composition roof
• Exterior features: Paved road access; Lot dimensions approximately 50 x 150 feet

Interior

• Kitchen: Refrigerator; Free-standing electric oven
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Electric cooling (has cooling)
• Interior features: Crawl space basement; Refrigerator; Free-standing electric oven; Washer
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $517 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.1% vs local median 4.6% in Parsons — 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 70/100 on livability (#164 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, schools F, crime F.
• Parsons (town): math 21% / reading 28% proficiency, ranked #143 of 169 in KS (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 43 active listings in the ZIP; 1 units permitted in Labette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $310 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Labette County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $18k; list at $45k implies a 157% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $42,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1907 — 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. 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: 2.33% ✓
• Cap rate: 20.11%
• Cash-on-cash: 49.35%
• DSCR: 3.20
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $107,768
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 S 24th St	0.09mi	3/1.0 (+1)	1,281 (-10%)	1mo	$38,500	$30	74
2415 Washington Ave	0.32mi	3/1.0 (+1)	1,380 (-3%)	6mo	$30,000	$22	71
2505 Washington Ave	0.33mi	3/1.5 (+1)	1,458 (+3%)	6mo	$219,000	$150	68
121 S 27th St	0.30mi	3/2.0 (+1)	1,454 (+2%)	14mo	$119,900	$82	61
2704 Crawford Ave	0.45mi	3/1.0 (+1)	1,298 (-8%)	3mo	$105,000	$81	58
3027 Main St	0.60mi	2/2.0	1,430 (+1%)	12mo	$79,900	$56	57
1222 Richard Ave	0.75mi	3/2.0 (+1)	1,491 (+5%)	2mo	$114,000	$76	46
2330 Clark Ave	0.44mi	3/1.0 (+1)	1,577 (+11%)	14mo	$34,900	$22	45
2330 Briggs Ave Ave	0.55mi	3/2.0 (+1)	1,580 (+11%)	2mo	$130,000	$82	45
3027 Washington Ave	0.63mi	3/1.5 (+1)	1,268 (-11%)	2mo	$89,000	$70	44
3101 Appletgon Ave	0.61mi	2/2.0	1,297 (-8%)	14mo	$78,500	$61	42
3108 Thornton Ave	0.73mi	3/1.5 (+1)	1,302 (-8%)	12mo	$115,000	$88	35

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: 47.0%
• Equity multiple: 3.04×
• Total profit: $25,669
• Equity at exit: $6,695

10-year hold

• IRR: 52.7%
• Equity multiple: 6.16×
• Total profit: $64,818
• Equity at exit: $3,882

Cash invested: $12,572 (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 67357

• Home prices YoY: -20.4%
• Active inventory: 43
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,047 medium
• Mortgage (P&I): −$235
• Tax est. 1.5%: −$56 /mo · $674/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $517

Break-even live

Break-even rent $393

Max offer price $44,900

Occupancy floor 46%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-08
   status $44,900 Pending 89 DOM
2. 2026-06-07
   days on market $44,900 Active 89 DOM
3. 2026-06-05
   days on market $44,900 Active 87 DOM
4. 2026-06-04
   days on market $44,900 Active 85 DOM
5. 2026-06-02
   days on market $44,900 Active 84 DOM
6. 2026-06-01
   days on market $44,900 Active 83 DOM
7. 2026-05-31
   days on market $44,900 Active 82 DOM
8. 2026-05-31
   days on market $44,900 Active 81 DOM
9. 2026-05-08
   status Active
10. 2026-03-13
    status Pending
11. 2026-01-23
    price $44,900
12. 2026-01-13
    listed $46,000 Active
13. 2005-06-01
    soldstatus $17,500

ⓘ 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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $12,567
• − Mortgage interest: −$2,515
• − Property taxes: −$674
• − Insurance: −$224
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − Depreciation: −$1,306
• Taxable income: $5,837
• Est. tax owed @ 24.0%: −$1,401
• After-tax cash flow: $4,803/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: Parsons
• NCES district ID: 2010560
• Math proficiency: 21% ▼ -7.00%
• Reading proficiency: 28% ▼ -3.00%
• Median HH income: $37,868
• Composite: 20.46/100
• National rank: #8576
• State rank: #143 of 169 in KS

Livability — Parsons

• Score: 70/100
• State rank: #164
• US rank: #7726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parsons, KS
• City population: 11,786
• Population (ZIP): 11,786

Population outlook (Labette County) Hauer SSP2

• Today (2025): 19,413 people
• By 2030: 18,552 · -4.4%
• By 2040: 16,701 · -14.0%
• By 2050: 14,832 · -23.6%
• By 2075: 11,046 · -43.1%
• By 2100: 8,020 · -58.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 7% Hispanic / Latino 7% Black 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Labette

• 2024 margin: Solid R (+38.2) · D 30.1% · R 68.3% · Other 1.6%
• 2008→2024 swing: -25.3pp toward R · 2008: -12.9pp · 2024: -38.2pp
• All cycles: 2024: R+38.2 2020: R+36.0 2016: R+37.9 2012: R+20.2 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.97%
• Current HPI: 147.8259
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+156.6% since first listed

5 events — show timeline

• 2026-05-08 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-03-13 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-01-23 Price Changed $44,900 Heartland MLS as Distributed by MLS Grid
• 2026-01-13 Listed $46,000 Heartland MLS as Distributed by MLS Grid
• 2005-06-01 Sold (Public Records) $17,500 Public Records