223 S Maple St · Ottawa, KS 66067

$125,000

2 bd · 1.0 ba · 868 sqft · SingleFamily public records · 21 Days on market

Built 1930 7,500 sqft lot

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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 +20.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTORS ADD THIS TO YOUR RENTAL INVENTORY OR REMODEL! A nice bungalow that needs some help but could be so adorable! Seller will consider and review all reasonable offers. That covered front porch will be very inviting, fixed up and adding cute patio furniture or a porch swing. The home is a 2 bdrm. home with a 3rd non-conforming bdrm. that was erected with walls that could be easily removed to open up the home's living room again and realize an open concept. The kitchen is an eat in kitchen, roomy with a pantry. The home has a dedicated laundry room with shelving, right off the kitchen. Your backyard has a large deck that needs work, and a super nice and large concrete patio, this entire area will be perfect for BBQ's and fun. The backyard is also partially fenced in leaving tons of room for parking. Don't need all that parking? Make your yard bigger! The HVAC is approximately 2 years old. Windows have been replaced, they are not the original. THIS PROPERTY IS SOLD AS IS.

Key facts

• 7,500 sq ft lot
• Built 1930
• Listed 21 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (3.3% below list).
• Recommended offer: $121k (3.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#125 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools F, amenities F.
• Ottawa (town): math 23% / reading 30% proficiency, ranked #128 of 169 in KS (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 106 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 85 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Franklin County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y 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.
• Current owner paid $75k; list at $125k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,864 (3.3% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.97% ✗
• Cap rate: 7.80%
• Cash-on-cash: 5.37%
• DSCR: 1.24
• GRM: 8.6

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: -8.0%
• Equity multiple: 0.71×
• Total profit: $-10,294
• Equity at exit: $18,638

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $3,802
• Equity at exit: $10,808

Cash invested: $35,000 (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 66067

• Home prices YoY: -33.6%
• Active inventory: 106
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,209 high
• Mortgage (P&I): −$656
• Tax from tax record: −$90 /mo · $1,086/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $157

Break-even live

Break-even rent $1,010

Max offer price $125,000

Occupancy floor 82%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
744 S Cedar St Unit 744-012 Ottawa, KS	1.0	1.0	845	$1,000	$1.18	2d	1	0.70mi
744 S Cedar St Unit 745-117 Ottawa, KS	2.0	1.5	1100	$1,200	$1.09	10d	1	0.70mi
627 N King St Ottawa, KS	3.0	1.5	804	$1,500	$1.87	23d	1	0.78mi
4 Canterbury Ct Ottawa, KS	1.0–4.0	1.0–1.5	929	$1,225	$1.32	23d	4	0.83mi
737 N King St Ottawa, KS	2.0	1.0	784	$1,300	$1.66	23d	1	0.89mi
903 N Cedar St Ottawa, KS	2.0	1.0	836	$1,250	$1.50	12d	1	1.07mi
903 N Cedar St Ottawa, KS	2.0	1.0	836	$1,250	$1.50	23d	1	1.07mi
1027 N Poplar St Ottawa, KS	2.0	1.0	624	$1,000	$1.60	12d	1	1.29mi
1027 N Poplar St Ottawa, KS	2.0	1.0	624	$1,000	$1.60	17d	1	1.29mi

Listing history 20 events

1. 2026-04-23
   status Pending
2. 2026-04-20
   price $125,000
3. 2026-04-03
   listed $130,000 Active
4. 2026-04-01
   historical $130,000
5. 2024-05-14
   soldstatus Closed 993-char remark

   Show marketing remark (993 chars)

   INVESTORS ADD THIS TO YOUR RENTAL INVENTORY OR REMODEL! A nice bungalow that needs some help but could be so adorable! Seller will consider and review all reasonable offers. That covered front porch will be very inviting, fixed up and adding cute patio furniture or a porch swing. The home is a 2 bdrm. home with a 3rd non-conforming bdrm. that was erected with walls that could be easily removed to open up the home's living room again and realize an open concept. The kitchen is an eat in kitchen, roomy with a pantry. The home has a dedicated laundry room with shelving, right off the kitchen. Your backyard has a large deck that needs work, and a super nice and large concrete patio, this entire area will be perfect for BBQ's and fun. The backyard is also partially fenced in leaving tons of room for parking. Don't need all that parking? Make your yard bigger! The HVAC is approximately 2 years old. Windows have been replaced, they are not the original. THIS PROPERTY IS SOLD AS IS.

6. 2024-04-22
   status Pending 993-char remark

   Show marketing remark (993 chars)

   INVESTORS ADD THIS TO YOUR RENTAL INVENTORY OR REMODEL! A nice bungalow that needs some help but could be so adorable! Seller will consider and review all reasonable offers. That covered front porch will be very inviting, fixed up and adding cute patio furniture or a porch swing. The home is a 2 bdrm. home with a 3rd non-conforming bdrm. that was erected with walls that could be easily removed to open up the home's living room again and realize an open concept. The kitchen is an eat in kitchen, roomy with a pantry. The home has a dedicated laundry room with shelving, right off the kitchen. Your backyard has a large deck that needs work, and a super nice and large concrete patio, this entire area will be perfect for BBQ's and fun. The backyard is also partially fenced in leaving tons of room for parking. Don't need all that parking? Make your yard bigger! The HVAC is approximately 2 years old. Windows have been replaced, they are not the original. THIS PROPERTY IS SOLD AS IS.

7. 2024-04-19
   price $79,900 993-char remark

   Show marketing remark (993 chars)

   INVESTORS ADD THIS TO YOUR RENTAL INVENTORY OR REMODEL! A nice bungalow that needs some help but could be so adorable! Seller will consider and review all reasonable offers. That covered front porch will be very inviting, fixed up and adding cute patio furniture or a porch swing. The home is a 2 bdrm. home with a 3rd non-conforming bdrm. that was erected with walls that could be easily removed to open up the home's living room again and realize an open concept. The kitchen is an eat in kitchen, roomy with a pantry. The home has a dedicated laundry room with shelving, right off the kitchen. Your backyard has a large deck that needs work, and a super nice and large concrete patio, this entire area will be perfect for BBQ's and fun. The backyard is also partially fenced in leaving tons of room for parking. Don't need all that parking? Make your yard bigger! The HVAC is approximately 2 years old. Windows have been replaced, they are not the original. THIS PROPERTY IS SOLD AS IS.

8. 2024-04-10
   price $85,000 993-char remark

   Show marketing remark (993 chars)

   INVESTORS ADD THIS TO YOUR RENTAL INVENTORY OR REMODEL! A nice bungalow that needs some help but could be so adorable! Seller will consider and review all reasonable offers. That covered front porch will be very inviting, fixed up and adding cute patio furniture or a porch swing. The home is a 2 bdrm. home with a 3rd non-conforming bdrm. that was erected with walls that could be easily removed to open up the home's living room again and realize an open concept. The kitchen is an eat in kitchen, roomy with a pantry. The home has a dedicated laundry room with shelving, right off the kitchen. Your backyard has a large deck that needs work, and a super nice and large concrete patio, this entire area will be perfect for BBQ's and fun. The backyard is also partially fenced in leaving tons of room for parking. Don't need all that parking? Make your yard bigger! The HVAC is approximately 2 years old. Windows have been replaced, they are not the original. THIS PROPERTY IS SOLD AS IS.

9. 2024-04-08
   listed $99,000 Active 993-char remark

   Show marketing remark (993 chars)

   INVESTORS ADD THIS TO YOUR RENTAL INVENTORY OR REMODEL! A nice bungalow that needs some help but could be so adorable! Seller will consider and review all reasonable offers. That covered front porch will be very inviting, fixed up and adding cute patio furniture or a porch swing. The home is a 2 bdrm. home with a 3rd non-conforming bdrm. that was erected with walls that could be easily removed to open up the home's living room again and realize an open concept. The kitchen is an eat in kitchen, roomy with a pantry. The home has a dedicated laundry room with shelving, right off the kitchen. Your backyard has a large deck that needs work, and a super nice and large concrete patio, this entire area will be perfect for BBQ's and fun. The backyard is also partially fenced in leaving tons of room for parking. Don't need all that parking? Make your yard bigger! The HVAC is approximately 2 years old. Windows have been replaced, they are not the original. THIS PROPERTY IS SOLD AS IS.

10. 2009-09-25
    soldstatus 527-char remark

    Show marketing remark (527 chars)

    HomeSteps/Freddie Mac Smart Buy Promo - 2 Yr Home Protect Warranty (contact listing agent for criteria) and up to 3.5% CC Assist on Owner Occupied Financed Sales, (NOTE: Coupon Required at time of Offer Submission). Contracts must be received between 7/17/09-10/30/09 with close no later than 12/31/09. Corp addenda MUST accompany ALL offers - contact listing agent before writing. Vinyl siding, treed fenced yard & a great deck to entertain & is shaded in the evenings. Hardwood floors & a nice front porch.

11. 2009-04-24
    listed $41,900 527-char remark

    Show marketing remark (527 chars)

    HomeSteps/Freddie Mac Smart Buy Promo - 2 Yr Home Protect Warranty (contact listing agent for criteria) and up to 3.5% CC Assist on Owner Occupied Financed Sales, (NOTE: Coupon Required at time of Offer Submission). Contracts must be received between 7/17/09-10/30/09 with close no later than 12/31/09. Corp addenda MUST accompany ALL offers - contact listing agent before writing. Vinyl siding, treed fenced yard & a great deck to entertain & is shaded in the evenings. Hardwood floors & a nice front porch.

12. 2007-05-31
    soldstatus
13. 2007-05-01
    soldstatus $75,000
14. 2007-04-19
    listed $79,500
15. 2006-05-15
    soldstatus
16. 2006-05-01
    soldstatus $57,500
17. 2006-03-13
    listed $59,950
18. 2005-02-10
    soldstatus
19. 2005-02-01
    soldstatus $24,000
20. 2004-11-04
    listed $27,900

ⓘ 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: $1,086 · $90/mo
• Projected year-2 tax: $1,762 · $147/mo
• Expected delta: +$677/yr (+$56/mo · 62.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,504
• − Mortgage interest: −$7,002
• − Property taxes: −$1,086
• − Insurance: −$625
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$3,636
• Taxable loss: −$166
• Est. tax savings @ 24.0%: +$40
• After-tax cash flow: $1,921/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: Ottawa
• NCES district ID: 2000015
• Math proficiency: 23% ▲ 2.00%
• Reading proficiency: 30% ▲ 3.00%
• Median HH income: $46,080
• Composite: 22.9/100
• National rank: #8003
• State rank: #128 of 169 in KS

Livability — Ottawa

• Score: 72/100
• State rank: #125
• US rank: #6479

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ottawa, KS
• City population: 16,146
• Population (ZIP): 16,146

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 24,777 people
• By 2030: 24,116 · -2.7%
• By 2040: 22,426 · -9.5%
• By 2050: 20,555 · -17.0%
• By 2075: 17,149 · -30.8%
• By 2100: 14,526 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+40.1) · D 28.9% · R 69.0% · Other 2.0%
• 2008→2024 swing: -17.6pp toward R · 2008: -22.5pp · 2024: -40.1pp
• All cycles: 2024: R+40.1 2020: R+38.4 2016: R+39.4 2012: R+30.4 2008: R+22.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -156.97%
• Current HPI: 309.5576
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+348.0% since first listed

20 events — show timeline

• 2026-04-23 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $125,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-03 Listed $130,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-01 Coming Soon $130,000 Heartland MLS as Distributed by MLS Grid
• 2024-05-14 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2024-04-22 Pending — Heartland MLS as Distributed by MLS Grid
• 2024-04-19 Price Changed $79,900 Heartland MLS as Distributed by MLS Grid
• 2024-04-10 Price Changed $85,000 Heartland MLS as Distributed by MLS Grid
• 2024-04-08 Listed $99,000 Heartland MLS as Distributed by MLS Grid
• 2009-09-25 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2009-04-24 Listed $41,900 Heartland MLS as Distributed by MLS Grid
• 2007-05-31 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2007-05-01 Sold (Public Records) $75,000 Public Records
• 2007-04-19 Listed $79,500 Heartland MLS as Distributed by MLS Grid
• 2006-05-15 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2006-05-01 Sold (Public Records) $57,500 Public Records
• 2006-03-13 Listed $59,950 Heartland MLS as Distributed by MLS Grid
• 2005-02-10 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2005-02-01 Sold (Public Records) $24,000 Public Records
• 2004-11-04 Listed $27,900 Heartland MLS as Distributed by MLS Grid

Property tax history

+1.2%/yr

Latest (2025): $1,086 · -16.1% YoY. Source: county tax records.