217 S E St · Herington, KS 67449

$67,500

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 80 Days on market

Built 1949 7,100 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 +25.5/30.0
• DSCR +8.4/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Appreciation +5.1/10.0
• Livability +3.5/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Close to everything: This ranch style home has 2 bedrooms, 1 full bath, large living room opens up to the kitchen. The bathroom has a new tub , the kitchen has new cabinets and backsplash with a new window. Utility room off the kitchen , Nice large wood deck, two car detached garage built in 1987, This garage is 32 X 24 plenty of room for a shop and it is also heated. All this on a corner lot. All appliances stay. Call Karon's Real Estate for a showing at 785-258-2900 or cell 785-366-0168

Key facts

• Laundry utility room
• Back deck
• 7,100 sq ft lot

Tags

• BACK DECK
• DETACHED OVERSIZED GARAGE
• OPEN KITCHEN LIVING DINING
• LAUNDRY UTILITY ROOM

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential zoning
• Construction: Built with other construction materials
• Exterior features: Deck; Concrete road frontage; No fencing

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Crawl space foundation; No fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($885 rent vs $68k).
• Recommended offer: $63k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#170 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Herington (rural): math 28% / reading 33% proficiency, ranked #100 of 169 in KS (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Herington Elem (math 42% / reading 42%, grade F, #273 of 684 statewide, top 45%, 187 students, 74% FRL); Herington Middle Sch (math 22% / reading 27%, grade F, #110 of 219 statewide, top 55%, 112 students, 74% FRL); Herington High (math 5% / reading 15%, grade F, #289 of 327 statewide, top 93%, 151 students, 60% FRL) — zoned schools average 70% FRL vs 49% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 29 active listings in the ZIP; 26 units permitted in Dickinson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $597 of equity ($467 loan paydown + $130 appreciation (0.2% local appreciation)).
• Dickinson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.2% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $12k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,450 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 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 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.31% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.95%
• DSCR: 1.44
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.19% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.46×
• Total profit: $8,678
• Equity at exit: $20,253

10-year hold

• IRR: 14.3%
• Equity multiple: 2.60×
• Total profit: $30,205
• Equity at exit: $24,873

Cash invested: $18,900 (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 67449

• Home prices YoY: 0.1%
• Active inventory: 29
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $885 medium
• Mortgage (P&I): −$354
• Tax from tax record: −$161 /mo · $1,929/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $157

Break-even live

Break-even rent $687

Max offer price $67,500

Occupancy floor 77%

Sensitivity live

Price	-10% $195	-5% $176	+0% $157	+5% $138	+10% $118
Rent	-10% $87	-5% $122	+0% $157	+5% $192	+10% $227
Rate	-1.0pp $191	-0.5pp $174	base $157	+0.5pp $139	+1.0pp $121

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: $16,875
• Closing costs: $2,025
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $67,500 Active 80 DOM
2. 2026-06-21
   days on market $67,500 Active 79 DOM
3. 2026-06-18
   days on market $67,500 Active 77 DOM
4. 2026-06-17
   days on market $67,500 Active 76 DOM
5. 2026-06-16
   days on market $67,500 Active 75 DOM
6. 2026-06-15
   days on market $67,500 Active 74 DOM
7. 2026-06-13
   days on market $67,500 Active 72 DOM
8. 2026-06-12
   days on market $67,500 Active 71 DOM
9. 2026-06-09
   days on market $67,500 Active 68 DOM
10. 2026-06-09
    price $67,500 Active 67 DOM
11. 2026-06-08
    days on market $79,900 Active 67 DOM
12. 2026-06-07
    days on market $79,900 Active 66 DOM
13. 2026-06-05
    days on market $79,900 Active 64 DOM
14. 2026-06-04
    days on market $79,900 Active 62 DOM
15. 2026-06-02
    days on market $79,900 Active 61 DOM
16. 2026-06-01
    days on market $79,900 Active 60 DOM
17. 2026-05-31
    days on market $79,900 Active 59 DOM
18. 2026-05-31
    days on market $79,900 Active 58 DOM
19. 2026-04-01
    listed $79,900 Active
20. 2024-12-12
    price $90,000
21. 2024-11-14
    price $120,000
22. 2022-03-09
    soldstatus 496-char remark

    Show marketing remark (496 chars)

    Close to everything: This ranch style home has 2 bedrooms, 1 full bath, large living room opens up to the kitchen. The bathroom has a new tub , the kitchen has new cabinets and backsplash with a new window. Utility room off the kitchen , Nice large wood deck, two car detached garage built in 1987, This garage is 32 X 24 plenty of room for a shop and it is also heated. All this on a corner lot. All appliances stay. Call Karon's Real Estate for a showing at 785-258-2900 or cell 785-366-0168

23. 2021-10-04
    listed $75,000 496-char remark

    Show marketing remark (496 chars)

    Close to everything: This ranch style home has 2 bedrooms, 1 full bath, large living room opens up to the kitchen. The bathroom has a new tub , the kitchen has new cabinets and backsplash with a new window. Utility room off the kitchen , Nice large wood deck, two car detached garage built in 1987, This garage is 32 X 24 plenty of room for a shop and it is also heated. All this on a corner lot. All appliances stay. Call Karon's Real Estate for a showing at 785-258-2900 or cell 785-366-0168

ⓘ 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: $1,929 · $161/mo
• Projected year-2 tax: $1,929 · $161/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 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 17 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: $10,625
• − Mortgage interest: −$3,781
• − Property taxes: −$1,929
• − Insurance: −$338
• − Repairs & maintenance: −$850
• − Management: −$850
• − Depreciation: −$1,964
• Taxable income: $914
• Est. tax owed @ 24.0%: −$219
• After-tax cash flow: $1,661/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: Herington
• NCES district ID: 2007110
• Math proficiency: 28% ▼ -1.00%
• Reading proficiency: 33% ▼ -2.00%
• Median HH income: $39,012
• Composite: 25.55/100
• National rank: #7429
• State rank: #100 of 169 in KS

Livability — Herington

• Score: 70/100
• State rank: #170
• US rank: #8052

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Herington, KS
• Population (ZIP): 2,756

Population outlook (Dickinson County) Hauer SSP2

• Today (2025): 18,727 people
• By 2030: 18,312 · -2.2%
• By 2040: 17,433 · -6.9%
• By 2050: 16,493 · -11.9%
• By 2075: 14,441 · -22.9%
• By 2100: 11,707 · -37.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 0% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Dickinson

• 2024 margin: Solid R (+55.0) · D 21.8% · R 76.7% · Other 1.5%
• 2008→2024 swing: -12.8pp toward R · 2008: -42.2pp · 2024: -55.0pp
• All cycles: 2024: R+55.0 2020: R+54.1 2016: R+54.0 2012: R+47.7 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.19%
• Current HPI: 146.5368
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+6.5% since first listed

5 events — show timeline

• 2026-04-01 Listed $79,900 FHAOR as distributed by MLS GRID
• 2024-12-12 Price Changed $90,000 FHAOR as distributed by MLS GRID
• 2024-11-14 Price Changed $120,000 FHAOR as distributed by MLS GRID
• 2022-03-09 Sold (MLS) — FHAOR as distributed by MLS GRID
• 2021-10-04 Listed $75,000 FHAOR as distributed by MLS GRID

Property tax history

+7.9%/yr

Latest (2025): $1,929 · +10.8% YoY. Source: county tax records.