208 N Mincer Ave

Stafford, KS 67578

$68,900B

2 bd · 2.0 ba · 1,376 sqft · Built 1950 · SingleFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,057/mo
• Mortgage (P&I): −$361
• Tax + insurance: −$115
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $359/mo
• Annual: $4,308/yr
• Cap rate: 12.54%
• Cash-on-cash: 22.33%
• DSCR: 1.99
• 1% rule: 1.53%
• Cash to close: $19,292

Investor read

• This is a 2-bed/2.0-bath single-family listed at $69k.
• At list price, monthly cash flow is $359 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($476 loan paydown + $582 appreciation (0.8% local appreciation)).
• Location reads 66/100 on livability (#264 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Stafford (rural): math 20% / reading 25% proficiency, ranked #254 of 280 in KS (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 13 active listings in the ZIP; 8 units permitted in Stafford County in 2024 (0 in 5+ unit buildings).
• Stafford County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 11y ago; this cycle's ask is 15% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $18k; list at $69k implies a 283% gain — meaningful room to come down on a strong offer.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.