610 Elm St · Wamego, KS 66547

$60,000

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 40 Days on market

Built 1920 Est $86k · 31% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Livability +4.0/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Walk to city park
• Paved alley access
• Walk to downtown

Tags

• PRIME LOCATION
• PAVED ALLEY ACCESS
• WALK TO SCHOOLS
• WALK TO DOWNTOWN
• WALK TO CITY PARK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($853 rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#17 in KS, #1,914 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment C-, commute F.
• Wamego (town): math 35% / reading 41% proficiency, ranked #38 of 169 in KS (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Elem (407 students, 32% FRL); Wamego Middle School (math 20% / reading 29%, grade F, #110 of 219 statewide, top 55%, 360 students, 27% FRL); Wamego High (math 22% / reading 32%, grade F, #85 of 327 statewide, top 29%, 507 students, 24% FRL).
• Zoned-school proficiency averages 26% at this address vs 38% district-wide (-12 pts) — the specific schools serving this property underperform the Wamego average; the district grade overstates school quality for this exact location.
• Market conditions: 78 active listings in the ZIP; 114 units permitted in Pottawatomie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Pottawatomie County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $12k; list at $60k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.42% ✓
• Cap rate: 11.64%
• Cash-on-cash: 19.11%
• DSCR: 1.85
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $86,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 Walnut St St	0.36mi	2/1.0	780 (-13%)	1mo	$75,000	$96	60

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: 11.0%
• Equity multiple: 1.44×
• Total profit: $7,325
• Equity at exit: $8,946

10-year hold

• IRR: 20.1%
• Equity multiple: 2.69×
• Total profit: $28,351
• Equity at exit: $5,188

Cash invested: $16,800 (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 66547

• Active inventory: 78
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $853 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$67 /mo · $803/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$179
• Net cashflow: $268

Break-even live

Break-even rent $515

Max offer price $60,000

Occupancy floor 64%

Sensitivity live

Price	-10% $301	-5% $285	+0% $268	+5% $251	+10% $234
Rent	-10% $200	-5% $234	+0% $268	+5% $301	+10% $335
Rate	-1.0pp $298	-0.5pp $283	base $268	+0.5pp $252	+1.0pp $236

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $60,000 Active 40 DOM
2. 2026-06-19
   days on market $60,000 Active 38 DOM
3. 2026-06-18
   days on market $60,000 Active 37 DOM
4. 2026-06-17
   days on market $60,000 Active 36 DOM
5. 2026-06-17
   price $60,000 Active 35 DOM
6. 2026-06-16
   days on market $62,000 Active 35 DOM
7. 2026-06-15
   days on market $62,000 Active 34 DOM
8. 2026-06-14
   days on market $62,000 Active 32 DOM
9. 2026-06-13
   days on market $62,000 Active 31 DOM
10. 2026-06-10
    days on market $62,000 Active 29 DOM
11. 2026-06-09
    days on market $62,000 Active 28 DOM
12. 2026-06-08
    days on market $62,000 Active 27 DOM
13. 2026-06-07
    days on market $62,000 Active 26 DOM
14. 2026-06-05
    days on market $62,000 Active 23 DOM
15. 2026-06-03
    days on market $62,000 Active 22 DOM
16. 2026-06-02
    days on market $62,000 Active 21 DOM
17. 2026-06-01
    days on market $62,000 Active 20 DOM
18. 2026-05-31
    days on market $62,000 Active 19 DOM
19. 2026-05-30
    days on market $62,000 Active 18 DOM
20. 2026-05-12
    listed $62,000 Active
21. 2025-10-17
    soldstatus
22. 2017-02-03
    soldstatus
23. 1986-01-01
    soldstatus $12,000

ⓘ 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: $803 · $67/mo
• Projected year-2 tax: $846 · $70/mo
• Expected delta: +$43/yr (+$4/mo · 5.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,240
• − Mortgage interest: −$3,361
• − Property taxes: −$803
• − Insurance: −$300
• − Repairs & maintenance: −$819
• − Management: −$819
• − Depreciation: −$1,745
• Taxable income: $2,392
• Est. tax owed @ 24.0%: −$574
• After-tax cash flow: $2,636/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: Wamego
• NCES district ID: 2000003
• Math proficiency: 35% ▲ 2.00%
• Reading proficiency: 41% ▲ 1.00%
• Median HH income: $58,868
• Composite: 33.66/100
• National rank: #5394
• State rank: #38 of 169 in KS

Livability — Wamego

• Score: 80/100
• State rank: #17
• US rank: #1914

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wamego, KS
• Population (ZIP): 8,387

Population outlook (Pottawatomie County) Hauer SSP2

• Today (2025): 25,971 people
• By 2030: 27,362 · +5.4%
• By 2040: 30,086 · +15.8%
• By 2050: 32,560 · +25.4%
• By 2075: 38,284 · +47.4%
• By 2100: 40,235 · +54.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 10% Hispanic / Latino 8% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 2% Italian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Pottawatomie

• 2024 margin: Solid R (+47.6) · D 25.2% · R 72.8% · Other 2.0%
• 2008→2024 swing: -3.6pp toward R · 2008: -44.0pp · 2024: -47.6pp
• All cycles: 2024: R+47.6 2020: R+46.7 2016: R+50.8 2012: R+47.3 2008: R+44.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.67%
• Current HPI: 182.0995
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+416.7% since first listed

4 events — show timeline

• 2026-05-12 Listed $62,000 FSBO.com
• 2025-10-17 Sold (Public Records) — Public Records
• 2017-02-03 Sold (Public Records) — Public Records
• 1986-01-01 Sold (Public Records) $12,000 Public Records

Property tax history

+0.0%/yr

Latest (2024): $803 · -2.4% YoY. Source: county tax records.