100 E B Ave

Lakin, KS 67860

$124,000C

4 bd · 1.0 ba · 1,338 sqft · Built 1935 · SingleFamily · Pending · 155 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,384/mo
• Mortgage (P&I): −$650
• Tax + insurance: −$207
• HOA: −$0
• Vac / Maint / Mgmt: −$291
• Net cashflow: $237/mo
• Annual: $2,838/yr
• Cap rate: 8.58%
• Cash-on-cash: 8.17%
• DSCR: 1.36
• 1% rule: 1.12%
• Cash to close: $34,720

Investor read

• This is a 4-bed/1.0-bath single-family listed at $124k.
• At list price, monthly cash flow is $237 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $124k).
• It's been on market 155 days — a 12% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $109k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $857 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#251 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: employment D+, schools F, amenities F.
• Lakin (rural): math 21% / reading 29% proficiency, ranked #135 of 169 in KS (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP.
• Kearny County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Questions for listing agent

• It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.