345 Hilltop St · Elkhart, KS 67950

$30,000

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 30 Days on market

Built 1960 7,779 sqft lot ↓ 20% since listing

---

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
• Appreciation +7.1/10.0
• Livability +3.6/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 7,779 sq ft lot
• Built 1960
• Listed 30 days

Property features AI

Finance

• Other: Lot size approximately 0.18 acres
• Financial info: Annual taxes listed

Exterior

• Utilities: Concrete road access
• Home design: Single-family residence; Residential property
• Construction: Construction materials: Unknown
• Exterior features: No notable exterior features listed; No fencing

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($896 rent vs $30k).
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#116 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: employment D+, amenities F, commute F.
• Elkhart (rural): math 25% / reading 42% proficiency, ranked #80 of 169 in KS (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Elkhart Elem (math 17% / reading 34%, grade F, #535 of 684 statewide, top 78%, 155 students, 66% FRL); Elkhart Middle School (math 17% / reading 27%, grade F, #134 of 219 statewide, top 63%, 120 students, 60% FRL); Elkhart High (math 10% / reading 10%, grade F, #289 of 327 statewide, top 93%, 112 students, 46% FRL) — zoned schools average 57% FRL vs 34% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 19% at this address vs 34% district-wide (-14 pts) — the specific schools serving this property underperform the Elkhart average; the district grade overstates school quality for this exact location.
• Market conditions: 12 active listings in the ZIP.

Forward outlook

• In year one you build about $1k of equity ($207 loan paydown + $1k appreciation (4.2% local appreciation)).
• Morton County population projected at -40% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,550 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 2.99% ✓
• Cap rate: 26.33%
• Cash-on-cash: 71.55%
• DSCR: 4.18
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.16% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 77.2%
• Equity multiple: 5.45×
• Total profit: $37,408
• Equity at exit: $15,489

10-year hold

• IRR: 75.8%
• Equity multiple: 11.27×
• Total profit: $86,275
• Equity at exit: $25,559

Cash invested: $8,400 (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 67950

• Home prices YoY: 3.4%
• Active inventory: 12
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $896 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $501

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 39%

Sensitivity live

Price	-10% $522	-5% $511	+0% $501	+5% $490	+10% $480
Rent	-10% $430	-5% $465	+0% $501	+5% $536	+10% $572
Rate	-1.0pp $516	-0.5pp $508	base $501	+0.5pp $493	+1.0pp $485

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-28
   status Pending
2. 2026-04-16
   price $30,000
3. 2026-04-08
   status Active
4. 2026-02-05
   status Pending
5. 2026-01-26
   listed $35,000 Active
6. 2007-05-01
   soldstatus $50,000
7. 2007-05-01
   soldstatus $50,000
8. 2001-05-01
   soldstatus $37,500
9. 2001-05-01
   soldstatus $37,500

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,757
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$861
• − Management: −$861
• − Depreciation: −$873
• Taxable income: $5,883
• Est. tax owed @ 24.0%: −$1,412
• After-tax cash flow: $4,598/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: Elkhart
• NCES district ID: 2005790
• Math proficiency: 25% ▼ -2.00%
• Reading proficiency: 42% ▲ 4.00%
• Median HH income: $42,271
• Composite: 28.3/100
• National rank: #6788
• State rank: #80 of 169 in KS

Livability — Elkhart

• Score: 72/100
• State rank: #116
• US rank: #6297

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elkhart, KS
• Population (ZIP): 1,786

Population outlook (Morton County) Hauer SSP2

• Today (2025): 2,576 people
• By 2030: 2,363 · -8.3%
• By 2040: 1,940 · -24.7%
• By 2050: 1,559 · -39.5%
• By 2075: 881 · -65.8%
• By 2100: 558 · -78.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 21% Two or more races 15% Asian 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Slovak 1% Italian 1% English 1%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 11% Tagalog/Filipino 2% Other Indo-European 1%

Political lean MEDSL · Morton

• 2024 margin: Solid R (+73.4) · D 12.4% · R 85.8% · Other 1.9%
• 2008→2024 swing: -7.5pp toward R · 2008: -65.9pp · 2024: -73.4pp
• All cycles: 2024: R+73.4 2020: R+73.7 2016: R+71.1 2012: R+69.8 2008: R+65.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.16%
• Current HPI: 128.3365
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-20.0% since first listed

9 events — show timeline

• 2026-04-28 Pending — FHAOR as distributed by MLS GRID
• 2026-04-16 Price Changed $30,000 FHAOR as distributed by MLS GRID
• 2026-04-08 Relisted — FHAOR as distributed by MLS GRID
• 2026-02-05 Pending — FHAOR as distributed by MLS GRID
• 2026-01-26 Listed $35,000 FHAOR as distributed by MLS GRID
• 2007-05-01 Sold (Public Records) $50,000 Public Records
• 2007-05-01 Sold (Public Records) $50,000 Public Records
• 2001-05-01 Sold (Public Records) $37,500 Public Records
• 2001-05-01 Sold (Public Records) $37,500 Public Records