206 E Main St · Highland, KS 66035

$135,000

2 bd · 1.0 ba · 1,207 sqft · SingleFamily public records · 179 Days on market

Built 1926 5,500 sqft lot Est $173k · 22% under

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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).

• ARV discount +15.0/15.0
• Appreciation +8.7/10.0
• Cash flow +8.4/30.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0

Listing remarks MLS

100 year old home in the middle of a great community. 2 car garage is 28' x 20'6" with electric opener and an attached man cave 15'6 x13'. Covered breezeway between garage and back porch is 16' x 13'. Check out the pictures and come for a visit.

Key facts

• Covered breezeway
• 2 car garage
• Attached man cave

Tags

• 2 CAR GARAGE
• ATTACHED MAN CAVE
• COVERED BREEZEWAY

Property features AI

Finance

• Other: Property classified as residential; Living area reported as 1,370 (per public records); Lot size reported as 5,500 square feet (public records); Not in a flood plain; Age described as 76–100 years
• HOA & community: No association fees

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Ranch floor plan; Faces public-maintained street
• Construction: Frame construction; Metal roof; Has basement
• Exterior features: Front porch; City lot

Interior

• Kitchen: Refrigerator; Electric range; Eat-in kitchen
• Bedrooms: Two bedrooms on the main level (both carpeted)
• Flooring: Carpet
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Ceiling fan(s); Unfinished basement
• Laundry & utility: Laundry room located off the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-121 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (12.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (23.8% below list).
• Recommended offer: $103k (23.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#78 in KS, #4,496 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Doniphan West Schools (rural): math 20% / reading 35% proficiency, ranked #194 of 280 in KS (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Doniphan West Elementary School (math 32% / reading 47%, grade F, #321 of 684 statewide, top 52%, 222 students, 45% FRL); Doniphan West Jr/Sr High School (math 22% / reading 34%, grade F, #81 of 327 statewide, top 25%, 152 students, 37% FRL).
• Market conditions: 8 active listings in the ZIP; 2 units permitted in Doniphan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($933 loan paydown + $10k appreciation (7.5% local appreciation)).
• Doniphan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $12k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; list at $135k implies a 191% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $102,822 (23.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 5.22%
• Cash-on-cash: -3.83%
• DSCR: 0.83
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $172,601
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 N Kirkwood St	0.27mi	2/1.0	1,120 (-7%)	15mo	$160,000	$143	63
707 W Pennsylvania St	0.53mi	3/2.0 (+1)	1,096 (-9%)	16mo	$139,900	$128	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.49% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.9%
• Equity multiple: 2.15×
• Total profit: $43,548
• Equity at exit: $97,888

10-year hold

• IRR: 15.5%
• Equity multiple: 4.49×
• Total profit: $132,077
• Equity at exit: $190,010

Cash invested: $37,800 (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 66035

• Home prices YoY: 3.0%
• Active inventory: 8
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,028 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $-121

Break-even live

Break-even rent $1,181

Max offer price $117,540

Occupancy floor —

Sensitivity live

Price	-10% $-27	-5% $-74	+0% $-121	+5% $-167	+10% $-214
Rent	-10% $-202	-5% $-161	+0% $-121	+5% $-80	+10% $-39
Rate	-1.0pp $-53	-0.5pp $-86	base $-121	+0.5pp $-156	+1.0pp $-191

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $135,000 Active 179 DOM
2. 2026-06-19
   days on market $135,000 Active 177 DOM
3. 2026-06-18
   days on market $135,000 Active 176 DOM
4. 2026-06-17
   days on market $135,000 Active 175 DOM
5. 2026-06-16
   days on market $135,000 Active 174 DOM
6. 2026-06-15
   days on market $135,000 Active 173 DOM
7. 2026-06-14
   days on market $135,000 Active 171 DOM
8. 2026-06-12
   days on market $135,000 Active 170 DOM
9. 2026-06-09
   days on market $135,000 Active 167 DOM
10. 2026-06-08
    days on market $135,000 Active 166 DOM
11. 2026-06-07
    days on market $135,000 Active 165 DOM
12. 2026-06-05
    days on market $135,000 Active 163 DOM
13. 2026-06-04
    days on market $135,000 Active 161 DOM
14. 2026-06-02
    days on market $135,000 Active 160 DOM
15. 2026-06-01
    days on market $135,000 Active 159 DOM
16. 2026-05-31
    days on market $135,000 Active 158 DOM
17. 2026-05-31
    days on market $135,000 Active 157 DOM
18. 2026-03-27
    price $135,000 250-char remark

    Show marketing remark (251 chars)

    100 year old home in the middle of a great community. 2 car garage is 28' x 20'6" with electric opener and an attached man cave 15'6 x 13'. Covered breezeway between garage and back porch is 16' x 13'. Check out the pictures and come for a visit.

19. 2026-03-27
    price $135,000 251-char remark

    Show marketing remark (251 chars)

    100 year old home in the middle of a great community. 2 car garage is 28' x 20'6" with electric opener and an attached man cave 15'6 x 13'. Covered breezeway between garage and back porch is 16' x 13'. Check out the pictures and come for a visit.

20. 2026-03-27
    price $135,000

    Show marketing remark (251 chars)

    100 year old home in the middle of a great community. 2 car garage is 28' x 20'6" with electric opener and an attached man cave 15'6 x 13'. Covered breezeway between garage and back porch is 16' x 13'. Check out the pictures and come for a visit.

21. 2025-12-24
    listed $147,500 Active 250-char remark

    Show marketing remark (251 chars)

    100 year old home in the middle of a great community. 2 car garage is 28' x 20'6" with electric opener and an attached man cave 15'6 x 13'. Covered breezeway between garage and back porch is 16' x 13'. Check out the pictures and come for a visit.

22. 2025-12-24
    listed $147,500 Active 251-char remark

    Show marketing remark (251 chars)

    100 year old home in the middle of a great community. 2 car garage is 28' x 20'6" with electric opener and an attached man cave 15'6 x 13'. Covered breezeway between garage and back porch is 16' x 13'. Check out the pictures and come for a visit.

23. 2025-12-24
    listed $147,500 Active

    Show marketing remark (251 chars)

    100 year old home in the middle of a great community. 2 car garage is 28' x 20'6" with electric opener and an attached man cave 15'6 x 13'. Covered breezeway between garage and back porch is 16' x 13'. Check out the pictures and come for a visit.

24. 1996-05-01
    soldstatus $46,470

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 16 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: $12,339
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$987
• − Management: −$987
• − Depreciation: −$3,927
• Taxable loss: −$3,825
• Est. tax savings @ 24.0%: +$918
• After-tax cash flow: $-530/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: Doniphan West Schools
• NCES district ID: 2000348
• Math proficiency: 20% ▲ 5.00%
• Reading proficiency: 35% ▲ 10.00%
• Median HH income: $45,366
• Composite: 26.59/100
• National rank: #12598
• State rank: #194 of 280 in KS

Livability — Highland

• Score: 74/100
• State rank: #78
• US rank: #4496

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highland, KS
• Population (ZIP): 1,388

Population outlook (Doniphan County) Hauer SSP2

• Today (2025): 7,642 people
• By 2030: 7,442 · -2.6%
• By 2040: 7,085 · -7.3%
• By 2050: 6,806 · -10.9%
• By 2075: 6,511 · -14.8%
• By 2100: 6,309 · -17.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 15% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Italian 1% Slovak 1% Serbian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 2% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Doniphan

• 2024 margin: Solid R (+63.5) · D 17.5% · R 81.0% · Other 1.4%
• 2008→2024 swing: -28.3pp toward R · 2008: -35.3pp · 2024: -63.5pp
• All cycles: 2024: R+63.5 2020: R+61.8 2016: R+59.9 2012: R+44.9 2008: R+35.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.49%
• Current HPI: 259.7382
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+190.5% since first listed

7 events — show timeline

• 2026-03-27 Price Changed $135,000 Sunflower MLS as distributed by MLS GRID
• 2026-03-27 Price Changed $135,000 Lawrence MLS as distributed by MLS GRID
• 2026-03-27 Price Changed $135,000 Heartland MLS as Distributed by MLS Grid
• 2025-12-24 Listed $147,500 Heartland MLS as Distributed by MLS Grid
• 2025-12-24 Listed $147,500 Lawrence MLS as distributed by MLS GRID
• 2025-12-24 Listed $147,500 Sunflower MLS as distributed by MLS GRID
• 1996-05-01 Sold (Public Records) $46,470 Public Records