120 S Oak St · Eureka, KS 67045

$35,000

2 bd · 1.0 ba · 1,062 sqft · SingleFamily public records · 31 Days on market

Built 1922 0.34 ac lot

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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
• Appreciation +9.8/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 0.34 acre lot
• Garage
• Built 1922

Property features AI

Exterior

• Utilities: Natural gas available; Public water; Sewer available
• Home design: Single-family onsite-built home; Metal roof
• Construction: Metal roof; Full foundation
• Exterior features: One-level home; Full foundation (no egress windows)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Unfinished basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($953 rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#192 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities F, commute F, employment F.
• Eureka (rural): math 28% / reading 39% proficiency, ranked #86 of 169 in KS (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marshall Elementary School (math 37% / reading 42%, grade F, #321 of 684 statewide, top 52%, 307 students, 67% FRL); Eureka Jr/Sr High (math 22% / reading 37%, grade F, #60 of 327 statewide, top 24%, 252 students, 56% FRL).
• Market conditions: 24 active listings in the ZIP; 3 units permitted in Greenwood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($242 loan paydown + $3k appreciation (9.5% local appreciation)).
• Greenwood County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.5% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y 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.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1922 — 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. 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: 2.72% ✓
• Cap rate: 23.81%
• Cash-on-cash: 62.55%
• DSCR: 3.78
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.51% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 73.9%
• Equity multiple: 6.15×
• Total profit: $50,430
• Equity at exit: $30,276

10-year hold

• IRR: 68.2%
• Equity multiple: 13.52×
• Total profit: $122,671
• Equity at exit: $64,002

Cash invested: $9,800 (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 67045

• Home prices YoY: 5.5%
• Active inventory: 24
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $953 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $511

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 41%

Sensitivity live

Price	-10% $535	-5% $523	+0% $511	+5% $499	+10% $487
Rent	-10% $436	-5% $473	+0% $511	+5% $548	+10% $586
Rate	-1.0pp $528	-0.5pp $520	base $511	+0.5pp $502	+1.0pp $493

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $35,000 Active 31 DOM
2. 2026-06-21
   days on market $35,000 Active 30 DOM
3. 2026-06-18
   days on market $35,000 Active 28 DOM
4. 2026-06-17
   days on market $35,000 Active 27 DOM
5. 2026-06-16
   days on market $35,000 Active 26 DOM
6. 2026-06-15
   days on market $35,000 Active 25 DOM
7. 2026-06-13
   days on market $35,000 Active 23 DOM
8. 2026-06-12
   days on market $35,000 Active 22 DOM
9. 2026-06-09
   days on market $35,000 Active 19 DOM
10. 2026-06-08
    days on market $35,000 Active 18 DOM
11. 2026-06-07
    days on market $35,000 Active 17 DOM
12. 2026-06-05
    days on market $35,000 Active 15 DOM
13. 2026-06-04
    days on market $35,000 Active 13 DOM
14. 2026-06-02
    days on market $35,000 Active 12 DOM
15. 2026-06-01
    days on market $35,000 Active 11 DOM
16. 2026-05-31
    days on market $35,000 Active 10 DOM
17. 2026-05-31
    days on market $35,000 Active 9 DOM
18. 2026-05-20
    listed $35,000 Active
19. 2013-07-08
    historical
20. 2013-01-07
    listed $40,000
21. 2002-02-01
    soldstatus $37,500
22. 1999-11-01
    soldstatus $30,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,433
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$915
• − Management: −$915
• − Depreciation: −$1,018
• Taxable income: $5,925
• Est. tax owed @ 24.0%: −$1,422
• After-tax cash flow: $4,708/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: Eureka
• NCES district ID: 2006120
• Math proficiency: 28% ▼ -1.00%
• Reading proficiency: 39% ▲ 1.00%
• Median HH income: $37,104
• Composite: 27.83/100
• National rank: #6885
• State rank: #86 of 169 in KS

Livability — Eureka

• Score: 69/100
• State rank: #192
• US rank: #8682

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eureka, KS
• Population (ZIP): 3,119

Population outlook (Greenwood County) Hauer SSP2

• Today (2025): 5,505 people
• By 2030: 5,103 · -7.3%
• By 2040: 4,287 · -22.1%
• By 2050: 3,576 · -35.0%
• By 2075: 2,370 · -56.9%
• By 2100: 1,459 · -73.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 4% Native American 2%
• Common ancestry: Lithuanian 4% Slovak 2% Iranian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Greenwood

• 2024 margin: Solid R (+61.0) · D 18.8% · R 79.7% · Other 1.5%
• 2008→2024 swing: -17.2pp toward R · 2008: -43.8pp · 2024: -61.0pp
• All cycles: 2024: R+61.0 2020: R+60.8 2016: R+59.1 2012: R+49.3 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.51%
• Current HPI: 184.0175
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+16.7% since first listed

5 events — show timeline

• 2026-05-20 Listed $35,000 SCKMLS as Distributed by MLS Grid
• 2013-07-08 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2013-01-07 Listed $40,000 SCKMLS as Distributed by MLS Grid
• 2002-02-01 Sold (Public Records) $37,500 Public Records
• 1999-11-01 Sold (Public Records) $30,000 Public Records