426 N Olivette St · McPherson, KS 67460

$150,000

3 bd · 2.0 ba · 1,120 sqft · SingleFamily public records · 2 Days on market

Built 1930 0.32 ac lot

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Why this score? — see what drove the F 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 +8.2/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Key facts

• Kitchen updates
• Large lot
• Flooring

Tags

• KITCHEN UPDATES
• FLOORING
• PAINT
• EGRESS WINDOW
• LARGE LOT
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached or attached 2-car garage with garage door opener; 2 total parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame construction; Shingle roof; Built with a full basement
• Exterior features: Covered patio/porch; Paved road access; Lot approximately 0.32 acres

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 3 main-level bedrooms
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Natural gas heating; Central air conditioning; Ceiling fans; Electric cooling components
• Interior features: Electric range; Refrigerator; Gas water heater; Full basement
• Laundry & utility: Laundry located on the lower level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-143 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (16.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (29.2% below list).
• Recommended offer: $106k (29.2% below list) — sets the bar for 1% rule.

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: Washington Elem (math 37% / reading 42%, grade F, #321 of 684 statewide, top 52%, 285 students, 47% FRL); 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 16% 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 $1k of loan paydown is wiped out by about $4k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $106,248 (29.2% 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. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.71% ✗
• Cap rate: 5.15%
• Cash-on-cash: -4.09%
• DSCR: 0.82
• GRM: 11.8

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: -23.2%
• Equity multiple: 0.20×
• Total profit: $-33,433
• Equity at exit: $22,365

10-year hold

• IRR: -17.9%
• Equity multiple: 0.03×
• Total profit: $-40,913
• Equity at exit: $12,969

Cash invested: $42,000 (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 67460

• Active inventory: 149
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,062 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$133 /mo · $1,599/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $-143

Break-even live

Break-even rent $1,244

Max offer price $124,735

Occupancy floor —

Sensitivity live

Price	-10% $-58	-5% $-101	+0% $-143	+5% $-185	+10% $-228
Rent	-10% $-227	-5% $-185	+0% $-143	+5% $-101	+10% $-59
Rate	-1.0pp $-67	-0.5pp $-105	base $-143	+0.5pp $-182	+1.0pp $-221

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1909 Millers Ln Unit 434 McPherson, KS	3.0	2.0	1153	$1,000	$0.87	24d	1	0.41mi
1909 Millers Ln Unit 440 DD McPherson, KS	2.0	2.0	960	$850	$0.89	24d	1	0.41mi
1909 Millers Ln Unit 432 McPherson, KS	2.0	2.0	960	$850	$0.89	21d	1	0.41mi
1323 Eastlinks Ct McPherson, KS	3.0	2.0	1350	$2,500	$1.85	24d	1	0.85mi
507 E Northview Ave McPherson, KS	1.0–3.0	1.0–2.0	900	$1,165	$1.29	14d	5	1.40mi

Listing history 1 events

1. 2026-06-12
   listed $150,000 Pending 2 DOM

ⓘ 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: $1,599 · $133/mo
• Projected year-2 tax: $2,115 · $176/mo
• Expected delta: +$516/yr (+$43/mo · 32.3%)

ⓘ 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,750
• − Mortgage interest: −$8,402
• − Property taxes: −$1,599
• − Insurance: −$750
• − Repairs & maintenance: −$1,020
• − Management: −$1,020
• − Depreciation: −$4,364
• Taxable loss: −$4,405
• Est. tax savings @ 24.0%: +$1,057
• After-tax cash flow: $-659/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

2 events — show timeline

• 2026-06-12 Pending — MKMLS as distributed by MLS GRID
• 2026-06-10 Listed $150,000 MKMLS as distributed by MLS GRID

Property tax history

+0.5%/yr

Latest (2025): $1,599 · -20.8% YoY. Source: county tax records.