508 Lawrence · Durham, KS 67438

$82,000

4 bd · 1.0 ba · 1,607 sqft · SingleFamily public records · 5 Days on market

Built 1920 0.26 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
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Outbuildings
• Generous storage
• Large living spaces

Tags

• CORNER LOT
• BUILT-INS
• OUTBUILDINGS
• GENEROUS STORAGE
• LARGE LIVING SPACES
• CLASSIC ARCHITECTURAL DETAILS

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Natural gas available; Public water; Public sewer
• Home design: Single-family onsite-built home
• Construction: Composition roof
• Exterior features: Two levels; Storage building/outbuilding on the property; Partial foundation; No egress windows

Interior

• Kitchen: Range (stove)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Wall/window air conditioning units
• Interior features: Unfinished basement; Range (stove)
• Laundry & utility: Main floor laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).

Location & tenants

• Location reads 57/100 on livability (#519 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, amenities F.
• Durham-Hillsboro-Lehigh (town): math 47% / reading 45% proficiency, ranked #16 of 169 in KS (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hillsboro Elem (math 52% / reading 52%, grade C-, #131 of 684 statewide, top 23%, 313 students, 49% FRL); Hillsboro Middle/High School (math 42% / reading 42%, grade F, #12 of 327 statewide, top 5%, 327 students, 36% FRL).
• Market conditions: 1 active listings in the ZIP; 25 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($567 loan paydown + $2k appreciation (3.0% local appreciation)).
• Marion County population projected at -17% 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 $23k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $82,000

Questions for the listing agent

1. Built in 1920 — 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. 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?
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: 1.50% ✓
• Cap rate: 12.28%
• Cash-on-cash: 21.40%
• DSCR: 1.95
• GRM: 5.6

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: 27.6%
• Equity multiple: 2.57×
• Total profit: $35,970
• Equity at exit: $36,871

10-year hold

• IRR: 28.2%
• Equity multiple: 4.99×
• Total profit: $91,541
• Equity at exit: $56,822

Cash invested: $22,960 (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 67438

• Active inventory: 1
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$430
• Tax from tax record: −$99 /mo · $1,186/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $409

Break-even live

Break-even rent $713

Max offer price $82,000

Occupancy floor 62%

Sensitivity live

Price	-10% $456	-5% $433	+0% $409	+5% $386	+10% $363
Rent	-10% $312	-5% $361	+0% $409	+5% $458	+10% $507
Rate	-1.0pp $451	-0.5pp $430	base $409	+0.5pp $388	+1.0pp $367

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-11
   status Pending
2. 2026-05-06
   listed $82,000 Active

ⓘ 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: $1,186 · $99/mo
• Projected year-2 tax: $1,186 · $99/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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,771
• − Mortgage interest: −$4,593
• − Property taxes: −$1,186
• − Insurance: −$410
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$2,385
• Taxable income: $3,833
• Est. tax owed @ 24.0%: −$920
• After-tax cash flow: $3,993/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: Durham-Hillsboro-Lehigh
• NCES district ID: 2007290
• Math proficiency: 47% ▲ 1.00%
• Reading proficiency: 45% ▼ -2.00%
• Median HH income: $50,353
• Composite: 39.52/100
• National rank: #3946
• State rank: #16 of 169 in KS

Livability — Durham

• Score: 57/100
• State rank: #519
• US rank: #21702

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Durham, KS
• Population (ZIP): 246

Population outlook (Marion County) Hauer SSP2

• Today (2025): 11,315 people
• By 2030: 10,852 · -4.1%
• By 2040: 9,989 · -11.7%
• By 2050: 9,375 · -17.1%
• By 2075: 8,969 · -20.7%
• By 2100: 9,019 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 14% Slovak 2% English 1%
• Foreign-born: 2% · Canada

Political lean MEDSL · Marion

• 2024 margin: Solid R (+49.1) · D 24.3% · R 73.5% · Other 2.2%
• 2008→2024 swing: -10.2pp toward R · 2008: -38.9pp · 2024: -49.1pp
• All cycles: 2024: R+49.1 2020: R+48.8 2016: R+50.3 2012: R+46.5 2008: R+38.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-05-11 Pending — SCKMLS as Distributed by MLS Grid
• 2026-05-06 Listed $82,000 SCKMLS as Distributed by MLS Grid

Property tax history

+2.7%/yr

Latest (2025): $1,186 · +9.7% YoY. Source: county tax records.