1609 S Evergreen Ave · Chanute, KS 66720

$25,000

3 bd · 1.5 ba · 1,398 sqft · SingleFamily public records · 3 Days on market

Built 1925 0.29 ac lot ↓ 21% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Key facts

• Workshop or storage
• Double lot
• 0.29 acre lot

Tags

• DOUBLE LOT
• DETACHED DOUBLE CAR GARAGE
• WORKSHOP OR STORAGE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame construction; Composition roof; Block basement
• Exterior features: Deck

Interior

• Kitchen: Gas range
• Flooring: Hardwood; Carpet
• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: Gas range
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $692 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).

Location & tenants

• Location reads 62/100 on livability (#390 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.
• Chanute Public Schools (town): math 21% / reading 33% proficiency, ranked #130 of 169 in KS (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 21 active listings in the ZIP; 18 units permitted in Neosho County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Neosho County population projected at -13% 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $2k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $25,000

Questions for the listing agent

1. Built in 1925 — 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 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.38% ✓
• Cap rate: 39.53%
• Cash-on-cash: 118.70%
• DSCR: 6.28
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $90,870
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1413 S Highland Ave	0.20mi	3/2.0	1,389 (-1%)	14mo	$59,900	$43	76
1522 S Evergreen Ave	0.06mi	3/1.5	1,296 (-7%)	21mo	$62,000	$48	68
601 E 10th St	0.58mi	3/2.0	1,384 (-1%)	2mo	$90,000	$65	68
301 E 17th St	0.06mi	3/2.0	1,196 (-14%)	6mo	$109,900	$92	66
420 E 12th St	0.36mi	3/2.0	1,254 (-10%)	5mo	$85,000	$68	60
1514 S Central Ave	0.12mi	2/1.5 (-1)	1,297 (-7%)	21mo	$45,000	$35	60
1103 S Grant Ave	0.46mi	3/1.0	1,411 (+1%)	21mo	$29,500	$21	58
1121 S Lafayette Ave	0.75mi	3/2.0	1,440 (+3%)	3mo	$195,000	$135	55
810 S Highland Ave	0.62mi	3/1.0	1,464 (+5%)	13mo	$59,000	$40	50
901 S Ashby Ave	0.61mi	3/2.0	1,376 (-2%)	22mo	$119,000	$86	48

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: —
• Equity multiple: 6.72×
• Total profit: $40,066
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 14.11×
• Total profit: $91,742
• Equity at exit: $2,162

Cash invested: $7,000 (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 66720

• Home prices YoY: -22.4%
• Active inventory: 21
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,095 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $692

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 32%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $25,000 Active 3 DOM
2. 2026-06-17
   days on market $25,000 Active 2 DOM
3. 2026-06-16
   pricestatusdays on marketlisting id $25,000 Active 1 DOM
4. 2026-06-01
   status $27,500 Pending 23 DOM
5. 2026-05-31
   days on market $27,500 Active 23 DOM
6. 2026-05-31
   days on market $27,500 Active 22 DOM
7. 2026-05-20
   status Active
8. 2026-04-20
   status Pending
9. 2026-04-08
   listed $27,500 Active
10. 2006-10-01
    soldstatus $35,000

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $13,142
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,051
• − Management: −$1,051
• − Depreciation: −$727
• Taxable income: $8,412
• Est. tax owed @ 24.0%: −$2,019
• After-tax cash flow: $6,290/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: Chanute Public Schools
• NCES district ID: 2004590
• Math proficiency: 21% ▼ -5.00%
• Reading proficiency: 33% ▼ -3.00%
• Median HH income: $39,444
• Composite: 22.66/100
• National rank: #8049
• State rank: #130 of 169 in KS

Livability — Chanute

• Score: 62/100
• State rank: #390
• US rank: #17122

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chanute, KS
• City population: 10,913
• Population (ZIP): 10,913

Population outlook (Neosho County) Hauer SSP2

• Today (2025): 15,851 people
• By 2030: 15,452 · -2.5%
• By 2040: 14,642 · -7.6%
• By 2050: 13,836 · -12.7%
• By 2075: 11,782 · -25.7%
• By 2100: 9,024 · -43.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 5% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 3% Iranian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Neosho

• 2024 margin: Solid R (+48.1) · D 25.0% · R 73.1% · Other 1.9%
• 2008→2024 swing: -21.6pp toward R · 2008: -26.6pp · 2024: -48.1pp
• All cycles: 2024: R+48.1 2020: R+46.3 2016: R+46.8 2012: R+34.3 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.46%
• Current HPI: 185.585
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-21.4% since first listed

4 events — show timeline

• 2026-05-20 Relisted — Sunflower MLS as distributed by MLS GRID
• 2026-04-20 Pending — Sunflower MLS as distributed by MLS GRID
• 2026-04-08 Listed $27,500 Sunflower MLS as distributed by MLS GRID
• 2006-10-01 Sold (Public Records) $35,000 Public Records