300 S Delaware Ave · Columbus, KS 66725

$65,000

3 bd · 1.0 ba · 2,933 sqft · SingleFamily public records · 98 Days on market

Built 1890 0.28 ac lot $22/sqft · 71% below area

---

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 +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this two-story home on a spacious corner lot. Offering 3 spacious bedrooms and 2.5 bathrooms, this home provides the perfect blend of comfort and style. Step inside to discover an open-concept layout with ample living space for both everyday living and entertaining. The main level features a formal living and dining area, a cozy family room, a half bathroom, a well-appointed kitchen, with ample cabinet space. Upstairs, the primary suite serves as a private retreat, complete with a en-suite bathroom. 2 additional bedrooms and full bathroom offer plenty of space for family, guests, or a home office. The attic has potential to finish as third floor. Outside, enjoy the benefits of a large mature trees and potential for outdoor entertaining or future expansion. A garage for storage completes the package. This home combines space, location, and curb appeal so don't miss your chance to make it yours.

Key facts

• Spacious corner lot
• Cozy family room
• Two story home

Tags

• TWO STORY HOME
• SPACIOUS CORNER LOT
• OPEN CONCEPT LAYOUT
• FORMAL LIVING AND DINING AREA
• COZY FAMILY ROOM
• WELL APPOINTED KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $524 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.0% vs local median 5.4% in Columbus — 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 73/100 on livability (#96 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: schools D-, amenities F, commute F.
• Columbus (town): math 22% / reading 35% proficiency, ranked #120 of 169 in KS (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 40 active listings in the ZIP; 17 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Cherokee County population projected at -26% 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $65k implies a 117% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.97% ✓
• Cap rate: 15.96%
• Cash-on-cash: 34.52%
• DSCR: 2.54
• GRM: 4.2

CMA / ARV

• ARV (median comp): $221,863
• List price: $65,000
• Delta: -70.70%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 W Pine St	0.33mi	4/2.5 (+1)	2,935 (+0%)	3mo	$95,000	$32	71
407 S Vermont St	0.47mi	3/3.0	2,736 (-7%)	10mo	$165,000	$60	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.0%
• Equity multiple: 2.26×
• Total profit: $22,859
• Equity at exit: $9,692

10-year hold

• IRR: 37.3%
• Equity multiple: 4.46×
• Total profit: $63,024
• Equity at exit: $5,620

Cash invested: $18,200 (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 66725

• Home prices YoY: -11.7%
• Active inventory: 40
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,282 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$121 /mo · $1,456/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $524

Break-even live

Break-even rent $619

Max offer price $65,000

Occupancy floor 54%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $65,000 Active 98 DOM
2. 2026-06-18
   price $65,000 Active 97 DOM
3. 2026-06-18
   days on market $85,000 Active 97 DOM
4. 2026-06-17
   days on market $85,000 Active 96 DOM
5. 2026-06-16
   days on market $85,000 Active 95 DOM
6. 2026-06-15
   days on market $85,000 Active 94 DOM
7. 2026-06-14
   days on market $85,000 Active 92 DOM
8. 2026-06-13
   days on market $85,000 Active 91 DOM
9. 2026-06-10
   days on market $85,000 Active 89 DOM
10. 2026-06-09
    days on market $85,000 Active 88 DOM
11. 2026-06-08
    days on market $85,000 Active 87 DOM
12. 2026-06-07
    days on market $85,000 Active 86 DOM
13. 2026-06-05
    days on market $85,000 Active 83 DOM
14. 2026-06-03
    days on market $85,000 Active 82 DOM
15. 2026-06-02
    days on market $85,000 Active 81 DOM
16. 2026-06-01
    days on market $85,000 Active 80 DOM
17. 2026-05-31
    days on market $85,000 Active 79 DOM
18. 2026-05-30
    days on market $85,000 Active 78 DOM
19. 2026-03-18
    listed $85,000 Active 917-char remark

    Show marketing remark (917 chars)

    Welcome to this two-story home on a spacious corner lot. Offering 3 spacious bedrooms and 2.5 bathrooms, this home provides the perfect blend of comfort and style. Step inside to discover an open-concept layout with ample living space for both everyday living and entertaining. The main level features a formal living and dining area, a cozy family room, a half bathroom, a well-appointed kitchen, with ample cabinet space. Upstairs, the primary suite serves as a private retreat, complete with a en-suite bathroom. 2 additional bedrooms and full bathroom offer plenty of space for family, guests, or a home office. The attic has potential to finish as third floor. Outside, enjoy the benefits of a large mature trees and potential for outdoor entertaining or future expansion. A garage for storage completes the package. This home combines space, location, and curb appeal so don't miss your chance to make it yours.

20. 2026-03-13
    listed $85,000 Active 917-char remark

    Show marketing remark (917 chars)

    Welcome to this two-story home on a spacious corner lot. Offering 3 spacious bedrooms and 2.5 bathrooms, this home provides the perfect blend of comfort and style. Step inside to discover an open-concept layout with ample living space for both everyday living and entertaining. The main level features a formal living and dining area, a cozy family room, a half bathroom, a well-appointed kitchen, with ample cabinet space. Upstairs, the primary suite serves as a private retreat, complete with a en-suite bathroom. 2 additional bedrooms and full bathroom offer plenty of space for family, guests, or a home office. The attic has potential to finish as third floor. Outside, enjoy the benefits of a large mature trees and potential for outdoor entertaining or future expansion. A garage for storage completes the package. This home combines space, location, and curb appeal so don't miss your chance to make it yours.

21. 2025-11-08
    price $90,000
22. 2025-10-22
    historical
23. 2025-08-01
    price $100,000
24. 2025-08-01
    price $100,000
25. 2025-07-01
    listed $120,000 Active
26. 1987-12-01
    soldstatus $30,000

ⓘ 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: $1,456 · $121/mo
• Projected year-2 tax: $1,456 · $121/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $15,386
• − Mortgage interest: −$3,641
• − Property taxes: −$1,456
• − Insurance: −$325
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$1,891
• Taxable income: $5,611
• Est. tax owed @ 24.0%: −$1,347
• After-tax cash flow: $4,936/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: Columbus
• NCES district ID: 2005070
• Math proficiency: 22% ▼ -1.00%
• Reading proficiency: 35% ▼ -3.00%
• Median HH income: $41,308
• Composite: 24.08/100
• National rank: #7756
• State rank: #120 of 169 in KS

Livability — Columbus

• Score: 73/100
• State rank: #96
• US rank: #5460

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbus, KS
• Population (ZIP): 5,102

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 18,848 people
• By 2030: 17,862 · -5.2%
• By 2040: 15,850 · -15.9%
• By 2050: 13,915 · -26.2%
• By 2075: 10,102 · -46.4%
• By 2100: 6,977 · -63.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 8% Black 2% Hispanic / Latino 2% Native American 1%
• Common ancestry: Italian 4% Lithuanian 2% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+52.9) · D 22.6% · R 75.5% · Other 1.9%
• 2008→2024 swing: -29.2pp toward R · 2008: -23.7pp · 2024: -52.9pp
• All cycles: 2024: R+52.9 2020: R+49.9 2016: R+48.4 2012: R+29.5 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -28.61%
• Current HPI: 216.89
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+183.3% since first listed

8 events — show timeline

• 2026-03-18 Listed $85,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-13 Listed $85,000 OGAR
• 2025-11-08 Price Changed $90,000 OGAR
• 2025-10-22 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-08-01 Price Changed $100,000 OGAR
• 2025-08-01 Price Changed $100,000 Heartland MLS as Distributed by MLS Grid
• 2025-07-01 Listed $120,000 Heartland MLS as Distributed by MLS Grid
• 1987-12-01 Sold (Public Records) $30,000 Public Records

Property tax history

+11.7%/yr

Latest (2025): $1,456 · +9.2% YoY. Source: county tax records.