433/435 S 5th St · Atchison, KS 66002

$175,000

6 bd · 2.0 ba · 3,749 sqft · MultiFamily · 119 Days on market

Built 1920 5,227 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

The possibilities are endless with this adorable side by side duplex located in the heart of Atchison! Weather you are looking for an investment opportunity or a place to call home you can make it yours. The 3 bed, 1 bath units feature main floor laundry, a covered front porch and an inviting space to call home. The current tenant pays $600 a month, utilities are split and unit 433 has solar panels that will be paid off at closing. Don't let this opportunity pass you by!

Key facts

• 5,227 sq ft lot
• 2 parking spots
• Built 1920

Property features AI

Finance

• Other: Lot approximately 5,227 square feet (public records)
• Financial info: Operating expenses include utilities, electricity, maintenance, insurance, real estate tax, and water/sewer

Exterior

• Parking: 2 off-street/ on-street parking spaces
• Security: Fire alarm
• Utilities: Public water; Public sewer; Separate meters
• Home design: Duplex (residential income); 2 stories; Zoned R
• Construction: Vinyl siding; Composition roof; Approximately 101+ years old
• Exterior features: Porch; Property located inside city limits; Not in a flood plain

Interior

• Kitchen: Microwave; Refrigerator; Electric range
• Bedrooms: Two 3-bedroom units (one 3-bedroom unit in each apartment)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Natural gas heating; Electric cooling (central cooling present)
• Interior features: Microwave; Refrigerator; Electric range; Has basement; Porch
• Laundry & utility: Utility room; Separate meters for utilities

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $896/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $175k).
• Recommended offer: $159k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.6% vs local median 6.8% in Atchison — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#268 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D, employment D, amenities F.
• Atchison Public Schools (town): math 18% / reading 25% proficiency, ranked #154 of 169 in KS (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 77 active listings in the ZIP; 12 units permitted in Atchison County in 2024 (0 in 5+ unit buildings).
• At $3,799/mo this rent would consume 74% of the median local household income ($61k/yr) (locally 228% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Atchison County population projected at -14% 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 $49k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.17% ✓
• Cap rate: 18.58%
• Cash-on-cash: 43.88%
• DSCR: 2.95
• GRM: 3.8

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: 40.8%
• Equity multiple: 2.75×
• Total profit: $85,822
• Equity at exit: $26,093

10-year hold

• IRR: 47.1%
• Equity multiple: 5.53×
• Total profit: $221,916
• Equity at exit: $15,131

Cash invested: $49,000 (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 66002

• Active inventory: 77
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,799 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$798
• Net cashflow: $1,792

Break-even live

Break-even rent $1,531

Max offer price $175,000

Occupancy floor 48%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,800
Total (2 units)			$3,799

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $175,000 Active 119 DOM
2. 2026-06-17
   days on market $175,000 Active 118 DOM
3. 2026-06-16
   days on market $175,000 Active 117 DOM
4. 2026-06-15
   days on market $175,000 Active 116 DOM
5. 2026-06-13
   days on market $175,000 Active 114 DOM
6. 2026-06-13
   days on market $175,000 Active 113 DOM
7. 2026-06-09
   days on market $175,000 Active 110 DOM
8. 2026-06-08
   days on market $175,000 Active 109 DOM
9. 2026-06-07
   days on market $175,000 Active 108 DOM
10. 2026-06-05
    days on market $175,000 Active 105 DOM
11. 2026-06-03
    days on market $175,000 Active 104 DOM
12. 2026-06-02
    days on market $175,000 Active 103 DOM
13. 2026-06-01
    days on market $175,000 Active 102 DOM
14. 2026-05-31
    days on market $175,000 Active 101 DOM
15. 2026-02-20
    listed $175,000 Active
16. 2026-02-17
    historical $175,000
17. 2025-05-11
    historical
18. 2025-01-23
    listed $199,000 Active
19. 2023-10-13
    soldstatus Closed 476-char remark

    Show marketing remark (476 chars)

    The possibilities are endless with this adorable side by side duplex located in the heart of Atchison! Weather you are looking for an investment opportunity or a place to call home you can make it yours. The 3 bed, 1 bath units feature main floor laundry, a covered front porch and an inviting space to call home. The current tenant pays $600 a month, utilities are split and unit 433 has solar panels that will be paid off at closing. Don't let this opportunity pass you by!

20. 2023-09-29
    status Pending 476-char remark

    Show marketing remark (476 chars)

    The possibilities are endless with this adorable side by side duplex located in the heart of Atchison! Weather you are looking for an investment opportunity or a place to call home you can make it yours. The 3 bed, 1 bath units feature main floor laundry, a covered front porch and an inviting space to call home. The current tenant pays $600 a month, utilities are split and unit 433 has solar panels that will be paid off at closing. Don't let this opportunity pass you by!

21. 2023-09-25
    status Active 476-char remark

    Show marketing remark (476 chars)

    The possibilities are endless with this adorable side by side duplex located in the heart of Atchison! Weather you are looking for an investment opportunity or a place to call home you can make it yours. The 3 bed, 1 bath units feature main floor laundry, a covered front porch and an inviting space to call home. The current tenant pays $600 a month, utilities are split and unit 433 has solar panels that will be paid off at closing. Don't let this opportunity pass you by!

22. 2023-09-19
    historical Active Under Contract 476-char remark

    Show marketing remark (476 chars)

    The possibilities are endless with this adorable side by side duplex located in the heart of Atchison! Weather you are looking for an investment opportunity or a place to call home you can make it yours. The 3 bed, 1 bath units feature main floor laundry, a covered front porch and an inviting space to call home. The current tenant pays $600 a month, utilities are split and unit 433 has solar panels that will be paid off at closing. Don't let this opportunity pass you by!

23. 2023-09-18
    price $99,900 476-char remark

    Show marketing remark (476 chars)

    The possibilities are endless with this adorable side by side duplex located in the heart of Atchison! Weather you are looking for an investment opportunity or a place to call home you can make it yours. The 3 bed, 1 bath units feature main floor laundry, a covered front porch and an inviting space to call home. The current tenant pays $600 a month, utilities are split and unit 433 has solar panels that will be paid off at closing. Don't let this opportunity pass you by!

24. 2023-09-12
    listed $119,900 Active 476-char remark

    Show marketing remark (476 chars)

    The possibilities are endless with this adorable side by side duplex located in the heart of Atchison! Weather you are looking for an investment opportunity or a place to call home you can make it yours. The 3 bed, 1 bath units feature main floor laundry, a covered front porch and an inviting space to call home. The current tenant pays $600 a month, utilities are split and unit 433 has solar panels that will be paid off at closing. Don't let this opportunity pass you by!

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥108°F today · 17 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: $45,588
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$3,647
• − Management: −$3,647
• − Depreciation: −$5,091
• Taxable income: $19,900
• Est. tax owed @ 24.0%: −$4,776
• After-tax cash flow: $16,726/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: Atchison Public Schools
• NCES district ID: 2003540
• Math proficiency: 18% ▼ -7.00%
• Reading proficiency: 25% ▼ -6.00%
• Median HH income: $43,220
• Composite: 18.48/100
• National rank: #8922
• State rank: #154 of 169 in KS

Livability — Atchison

• Score: 66/100
• State rank: #268
• US rank: #12122

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atchison, KS
• County: Atchison County · 13,276 people
• City population: 13,276
• Metro: Atchison, KS
• Population (ZIP): 13,276
• Household income: $61,364
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 228.0

Population outlook (Atchison County) Hauer SSP2

• Today (2025): 16,056 people
• By 2030: 15,610 · -2.8%
• By 2040: 14,691 · -8.5%
• By 2050: 13,856 · -13.7%
• By 2075: 12,402 · -22.8%
• By 2100: 10,883 · -32.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Black 5% Hispanic / Latino 4%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Atchison

• 2024 margin: Solid R (+37.4) · D 30.3% · R 67.7% · Other 2.0%
• 2008→2024 swing: -29.7pp toward R · 2008: -7.7pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+34.4 2016: R+31.8 2012: R+20.8 2008: R+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -252.16%
• Current HPI: 192.1037
• Rent YoY: —
• Metro: Atchison, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+46.0% since first listed

10 events — show timeline

• 2026-02-20 Listed $175,000 Heartland MLS as Distributed by MLS Grid
• 2026-02-17 Coming Soon $175,000 Heartland MLS as Distributed by MLS Grid
• 2025-05-11 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-01-23 Listed $199,000 Heartland MLS as Distributed by MLS Grid
• 2023-10-13 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2023-09-29 Pending — Heartland MLS as Distributed by MLS Grid
• 2023-09-25 Relisted — Heartland MLS as Distributed by MLS Grid
• 2023-09-19 Contingent — Heartland MLS as Distributed by MLS Grid
• 2023-09-18 Price Changed $99,900 Heartland MLS as Distributed by MLS Grid
• 2023-09-12 Listed $119,900 Heartland MLS as Distributed by MLS Grid