930 Cimmaron Trl Unit C930

Gardner, KS 66030

$100,500B-

3 bd · 2.0 ba · 1,216 sqft · Built 2026 · Manufactured · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,810/mo
• Mortgage (P&I): −$527
• Tax + insurance: −$168
• HOA: −$0
• Vac / Maint / Mgmt: −$380
• Net cashflow: $735/mo
• Annual: $8,822/yr
• Cap rate: 15.07%
• Cash-on-cash: 31.35%
• DSCR: 2.39
• 1% rule: 1.80%
• Cash to close: $28,140

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $100k. Condition is rated fair.
• At list price, monthly cash flow is $735 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $695 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#61 in KS, #3,865 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: amenities F, commute F.
• Gardner Edgerton (suburban): math 32% / reading 37% proficiency, ranked #50 of 169 in KS (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grand Star Elementary (math 42% / reading 42%, grade F, #273 of 684 statewide, top 45%, 361 students, 55% FRL); Trail Ridge Middle School (math 26% / reading 29%, grade F, #91 of 219 statewide, top 42%, 693 students, 42% FRL); Gardner Edgerton High (math 18% / reading 27%, grade F, #164 of 327 statewide, top 50%, 1,789 students, 38% FRL) — zoned schools average 45% FRL vs 23% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 280 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,969 units permitted in Johnson County in 2024 (1,066 in 5+ unit buildings).
• Johnson County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.1% vs local median 3.1% in Gardner — 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen countertops — No countertops are visible, but they are likely needed for a complete kitchen setup.
• Major: bathroom fixtures — No fixtures are visible, indicating a need for a bathroom renovation.
• Major: exterior/siding — No exterior or siding is visible, suggesting a need for an exterior renovation.
• Major: HVAC/mechanicals — No HVAC or mechanical systems are visible, indicating a need for an HVAC upgrade or installation.
• Major: landscaping — No landscaping or curb appeal is visible, suggesting a need for landscaping improvements to enhance curb appeal.