215 E Cherokee St · Sedan, KS 67361

$29,000

4 bd · 2.0 ba · 1,608 sqft · Manufactured public records · 39 Days on market

Built 1975

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Key facts

• Central heat and air
• Car port attached
• Very large lot

Tags

• OLDEST STANDING BUILDING
• VERY LARGE LOT
• CENTRAL HEAT AND AIR
• CAR PORT ATTACHED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $29k.

Deal economics

• At list price, monthly cash flow is $768 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $29k).
• Recommended offer: $28k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#328 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Chautauqua County Community (rural): math 25% / reading 25% proficiency, ranked #236 of 280 in KS (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 7 active listings in the ZIP.

Forward outlook

• In year one you build about $1k of equity ($200 loan paydown + $870 appreciation (3.0% local appreciation)).
• Chautauqua County population projected at -18% 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $4k; list at $29k implies a 582% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $28,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 4.23% ✓
• Cap rate: 38.07%
• Cash-on-cash: 113.49%
• DSCR: 6.05
• GRM: 2.0

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: —
• Equity multiple: 7.46×
• Total profit: $52,422
• Equity at exit: $13,040

10-year hold

• IRR: —
• Equity multiple: 15.54×
• Total profit: $118,102
• Equity at exit: $20,096

Cash invested: $8,120 (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 67361

• Active inventory: 7
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,226 medium
• Mortgage (P&I): −$152
• Tax est. 1.5%: −$36 /mo · $435/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $768

Break-even live

Break-even rent $254

Max offer price $29,000

Occupancy floor 32%

Sensitivity live

Price	-10% $788	-5% $778	+0% $768	+5% $758	+10% $748
Rent	-10% $671	-5% $720	+0% $768	+5% $816	+10% $865
Rate	-1.0pp $783	-0.5pp $775	base $768	+0.5pp $760	+1.0pp $753

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: $7,250
• Closing costs: $870
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $29,000 Active 39 DOM
2. 2026-06-18
   days on market $29,000 Active 37 DOM
3. 2026-06-17
   days on market $29,000 Active 36 DOM
4. 2026-06-16
   pricedays on market $29,000 Active 35 DOM
5. 2026-06-15
   days on market $40,000 Active 34 DOM
6. 2026-06-13
   days on market $40,000 Active 32 DOM
7. 2026-06-12
   days on market $40,000 Active 31 DOM
8. 2026-06-09
   days on market $40,000 Active 28 DOM
9. 2026-06-08
   days on market $40,000 Active 27 DOM
10. 2026-06-07
    days on market $40,000 Active 26 DOM
11. 2026-06-05
    days on market $40,000 Active 24 DOM
12. 2026-06-04
    days on market $40,000 Active 22 DOM
13. 2026-06-02
    days on market $40,000 Active 21 DOM
14. 2026-06-01
    days on market $40,000 Active 20 DOM
15. 2026-05-31
    days on market $40,000 Active 19 DOM
16. 2026-05-31
    days on market $40,000 Active 18 DOM
17. 2026-05-12
    listed $40,000 Active
18. 1994-05-01
    soldstatus $4,250
19. 1989-03-01
    soldstatus $20,000
20. 1988-07-01
    soldstatus $17,500

ⓘ 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 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,709
• − Mortgage interest: −$1,624
• − Property taxes: −$435
• − Insurance: −$145
• − Repairs & maintenance: −$1,177
• − Management: −$1,177
• − Depreciation: −$844
• Taxable income: $9,308
• Est. tax owed @ 24.0%: −$2,234
• After-tax cash flow: $6,981/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: Chautauqua County Community
• NCES district ID: 2011520
• Math proficiency: 25% ▬ 0.00%
• Reading proficiency: 25% ▲ 5.00%
• Median HH income: $37,570
• Composite: 23.91/100
• National rank: #13201
• State rank: #236 of 280 in KS

Livability — Sedan

• Score: 63/100
• State rank: #328
• US rank: #14996

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sedan, KS
• Population (ZIP): 1,797

Population outlook (Chautauqua County) Hauer SSP2

• Today (2025): 3,024 people
• By 2030: 2,865 · -5.3%
• By 2040: 2,630 · -13.0%
• By 2050: 2,495 · -17.5%
• By 2075: 2,436 · -19.4%
• By 2100: 2,430 · -19.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 10% Hispanic / Latino 4% Native American 3% Black 1%
• Common ancestry: Slovak 3% Russian 2% Lithuanian 1%
• Foreign-born: 1% · China

Political lean MEDSL · Chautauqua

• 2024 margin: Solid R (+71.2) · D 13.8% · R 85.1% · Other 1.1%
• 2008→2024 swing: -16.3pp toward R · 2008: -54.9pp · 2024: -71.2pp
• All cycles: 2024: R+71.2 2020: R+72.5 2016: R+71.3 2012: R+62.7 2008: R+54.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+128.6% since first listed

4 events — show timeline

• 2026-05-12 Listed $40,000 FSBO.com
• 1994-05-01 Sold (Public Records) $4,250 Public Records
• 1989-03-01 Sold (Public Records) $20,000 Public Records
• 1988-07-01 Sold (Public Records) $17,500 Public Records