940 N Myers St · McPherson, KS 67460

$84,900

2 bd · 1.0 ba · 925 sqft · SingleFamily public records · 9 Days on market

Built 1950 10,454 sqft lot

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Why this score? — see what drove the C- 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 +21.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +6.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a first time home or needing to downsize, here is the one. Nice large back yard with attached garage. This home features 2 bedrooms with laundry all on the main floor. Don't miss out on this brick ranch home found in the North side of town.

Key facts

• 0.24 acre lot
• Garage
• Built 1950

Property features AI

Exterior

• Parking: Detached or attached garage with 1 parking space
• Utilities: Public sewer available
• Home design: Single-family onsite-built home; One story
• Construction: Composition roof; No basement
• Exterior features: Chain link fencing; One-level layout

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air (electric); Forced air heating (natural gas)
• Interior features: Disposal
• Laundry & utility: Main floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $121 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($967 rent vs $85k).

Location & tenants

• Location reads 81/100 on livability (#12 in KS, #1,567 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Mcpherson (town): math 25% / reading 32% proficiency, ranked #103 of 169 in KS (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mcpherson Middle School (math 21% / reading 27%, grade F, #121 of 219 statewide, top 56%, 492 students, 42% FRL); Mcpherson High (math 22% / reading 22%, grade F, #165 of 327 statewide, top 55%, 709 students, 36% FRL).
• Market conditions: 149 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 102 units permitted in McPherson County in 2024 (0 in 5+ unit buildings).
• This rent is only 14% of the median local income ($81k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• McPherson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 19y ago 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 $66k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $84,900

Questions for the listing agent

1. Built in 1950 — 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. 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.
4. 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.
5. 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: 1.14% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.10%
• DSCR: 1.27
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.8%
• Equity multiple: 0.75×
• Total profit: $-6,012
• Equity at exit: $12,659

10-year hold

• IRR: 2.8%
• Equity multiple: 1.21×
• Total profit: $4,875
• Equity at exit: $7,341

Cash invested: $23,772 (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 67460

• Active inventory: 149
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $967 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$163 /mo · $1,951/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $121

Break-even live

Break-even rent $814

Max offer price $84,900

Occupancy floor 83%

Sensitivity live

Price	-10% $169	-5% $145	+0% $121	+5% $97	+10% $73
Rent	-10% $44	-5% $83	+0% $121	+5% $159	+10% $197
Rate	-1.0pp $164	-0.5pp $142	base $121	+0.5pp $99	+1.0pp $76

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
507 E Northview Ave McPherson, KS	1.0–3.0	1.0–2.0	900	$1,018	$1.13	14d	5	0.82mi
1909 Millers Ln Unit 440 DD McPherson, KS	2.0	2.0	960	$850	$0.89	24d	1	1.13mi
1909 Millers Ln Unit 432 McPherson, KS	2.0	2.0	960	$850	$0.89	21d	1	1.13mi

Listing history 17 events

1. 2026-05-21
   status Pending
2. 2026-05-12
   listed $84,900 Active
3. 2023-07-28
   soldstatus Closed 252-char remark

   Show marketing remark (252 chars)

   Looking for a first time home or needing to downsize, here is the one. Nice large back yard with attached garage. This home features 2 bedrooms with laundry all on the main floor. Don't miss out on this brick ranch home found in the North side of town.

4. 2023-06-26
   status Pending 252-char remark

   Show marketing remark (252 chars)

   Looking for a first time home or needing to downsize, here is the one. Nice large back yard with attached garage. This home features 2 bedrooms with laundry all on the main floor. Don't miss out on this brick ranch home found in the North side of town.

5. 2023-06-04
   listed $112,000 Active 252-char remark

   Show marketing remark (252 chars)

   Looking for a first time home or needing to downsize, here is the one. Nice large back yard with attached garage. This home features 2 bedrooms with laundry all on the main floor. Don't miss out on this brick ranch home found in the North side of town.

6. 2022-07-05
   soldstatus 542-char remark

   Show marketing remark (542 chars)

   Cozy ranch style home! The low maintenance exterior features brick and vinyl siding, heritage roof (2016), gutters with leaf guards, some new windows, and new garage doors. Inside has a spacious living room, eat-in kitchen with fantastic storage and laundry area, 2 bedrooms with large closets, and a full bathroom. Affordable utilities with plenty of insulation in the attic. You are sure to enjoy the huge backyard with alley access! Call today for your appointment! Deadline for Highest & Best offers is Wednesday 5/25/22 at 12:00pm.

7. 2022-05-23
   listed $97,500 542-char remark

   Show marketing remark (542 chars)

   Cozy ranch style home! The low maintenance exterior features brick and vinyl siding, heritage roof (2016), gutters with leaf guards, some new windows, and new garage doors. Inside has a spacious living room, eat-in kitchen with fantastic storage and laundry area, 2 bedrooms with large closets, and a full bathroom. Affordable utilities with plenty of insulation in the attic. You are sure to enjoy the huge backyard with alley access! Call today for your appointment! Deadline for Highest & Best offers is Wednesday 5/25/22 at 12:00pm.

8. 2014-05-30
   soldstatus
9. 2014-05-30
   listed $77,500
10. 2009-12-11
    soldstatus
11. 2009-12-01
    soldstatus $65,900
12. 2009-09-08
    listed $64,900
13. 2008-06-09
    listed $65,000
14. 2007-04-27
    soldstatus
15. 2007-04-09
    listed $49,900
16. 2007-04-01
    soldstatus $52,000
17. 1992-11-01
    soldstatus $25,000

ⓘ 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: $1,951 · $163/mo
• Projected year-2 tax: $1,951 · $163/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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,605
• − Mortgage interest: −$4,756
• − Property taxes: −$1,951
• − Insurance: −$424
• − Repairs & maintenance: −$928
• − Management: −$928
• − Depreciation: −$2,470
• Taxable income: $147
• Est. tax owed @ 24.0%: −$35
• After-tax cash flow: $1,415/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: Mcpherson
• NCES district ID: 2009390
• Math proficiency: 25% ▼ -3.00%
• Reading proficiency: 32% ▲ 1.00%
• Median HH income: $54,750
• Composite: 25.39/100
• National rank: #7468
• State rank: #103 of 169 in KS

Livability — McPherson

• Score: 81/100
• State rank: #12
• US rank: #1567

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McPherson, KS
• County: McPherson County · 16,348 people
• City population: 16,348
• Metro: McPherson, KS
• Population (ZIP): 16,348
• Household income: $80,720
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 492.0

Population outlook (McPherson County) Hauer SSP2

• Today (2025): 28,958 people
• By 2030: 28,735 · -0.8%
• By 2040: 28,020 · -3.2%
• By 2050: 27,276 · -5.8%
• By 2075: 26,211 · -9.5%
• By 2100: 23,976 · -17.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 4% Iranian 3% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · McPherson

• 2024 margin: Solid R (+41.1) · D 28.5% · R 69.6% · Other 1.9%
• 2008→2024 swing: -5.8pp toward R · 2008: -35.3pp · 2024: -41.1pp
• All cycles: 2024: R+41.1 2020: R+40.3 2016: R+42.0 2012: R+41.6 2008: R+35.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -216.18%
• Current HPI: 155.3302
• Rent YoY: —
• Metro: McPherson, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+239.6% since first listed

17 events — show timeline

• 2026-05-21 Pending — SCKMLS as Distributed by MLS Grid
• 2026-05-12 Listed $84,900 SCKMLS as Distributed by MLS Grid
• 2023-07-28 Sold (MLS) — MKMLS as distributed by MLS GRID
• 2023-06-26 Pending — MKMLS as distributed by MLS GRID
• 2023-06-04 Listed $112,000 MKMLS as distributed by MLS GRID
• 2022-07-05 Sold (MLS) — MKMLS as distributed by MLS GRID
• 2022-05-23 Listed $97,500 MKMLS as distributed by MLS GRID
• 2014-05-30 Sold (MLS) — MKMLS as distributed by MLS GRID
• 2014-05-30 Listed $77,500 MKMLS as distributed by MLS GRID
• 2009-12-11 Sold (MLS) — MKMLS as distributed by MLS GRID
• 2009-12-01 Sold (Public Records) $65,900 Public Records
• 2009-09-08 Listed $64,900 MKMLS as distributed by MLS GRID
• 2008-06-09 Listed $65,000 MKMLS as distributed by MLS GRID
• 2007-04-27 Sold (MLS) — MKMLS as distributed by MLS GRID
• 2007-04-09 Listed $49,900 MKMLS as distributed by MLS GRID
• 2007-04-01 Sold (Public Records) $52,000 Public Records
• 1992-11-01 Sold (Public Records) $25,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $1,951 · +0.8% YoY. Source: county tax records.