215 W 3rd St · Tonganoxie, KS 66086

$130,000

2 bd · 1.0 ba · 812 sqft · SingleFamily public records · 49 Days on market

Built 1940 7,384 sqft lot Est $177k · 27% under

---

Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.9/30.0
• DSCR +4.6/10.0
• 1% rule +4.0/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This two-bedroom, one-bath home sits on a spacious lot with plenty of room to spread out, garden, or expand. The property offers a great opportunity for someone looking to bring new life into a home. While the home does need significant TLC, it provides a blank canvas for updates, renovations, or a complete transformation to fit your vision. Outside, the large lot is a standout feature—offering space for outbuildings, or future additions. Whether you’re an investor, flipper, or buyer looking to build equity, this property is full of possibilities for the right buyer willing to put in the work.

Key facts

• 7,384 sq ft lot
• Built 1940
• Listed 48 days

Property features AI

Finance

• Other: Living area reported as 812 (source: public records)

Exterior

• Parking: Other parking
• Utilities: Public water
• Home design: Single-family residence; Residential property; Ranch style; 1-story (ranch)
• Construction: Board & batten siding and frame construction; Composition roof; Approximately 76–100 years old
• Exterior features: City lot; Not in a flood plain; Lot dimensions approximately 52 x 142

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Ranch floor plan; Slab foundation

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $39 ($464/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (10.4% below list).
• Recommended offer: $116k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.2% in Tonganoxie — 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 71/100 on livability (#137 in KS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Tonganoxie (town): math 25% / reading 34% proficiency, ranked #89 of 169 in KS (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 190 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 347 units permitted in Leavenworth County in 2024 (50 in 5+ unit buildings).
• This rent is only 14% of the median local income ($98k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Leavenworth County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $130k implies a 225% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,500 (10.4% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.90% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.28%
• DSCR: 1.06
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $177,016
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 E 5th St	0.41mi	2/1.0	826 (+2%)	7mo	$179,950	$218	72
210 E 4th St	0.31mi	2/1.0	825 (+2%)	18mo	$175,000	$212	68
308 E 2nd St	0.36mi	2/1.0	910 (+12%)	3mo	$239,950	$264	60
623 E 7th St	0.64mi	2/1.0	864 (+6%)	2mo	$125,000	$145	58

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-18,593
• Equity at exit: $19,383

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-12,987
• Equity at exit: $11,240

Cash invested: $36,400 (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 66086

• Home prices YoY: -25.6%
• Active inventory: 190
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,165 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$146 /mo · $1,749/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $39

Break-even live

Break-even rent $1,116

Max offer price $130,000

Occupancy floor 92%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
202 Grace St Apt C Tonganoxie, KS	2.0	1.0	750	$895	$1.19	24d	1	0.62mi
301 Ridge St Unit C Tonganoxie, KS	1.0	1.0	750	$895	$1.19	8d	1	1.11mi

Listing history 14 events

1. 2026-06-09
   days on market $130,000 Active 49 DOM
2. 2026-06-08
   days on market $130,000 Active 48 DOM
3. 2026-06-07
   days on market $130,000 Active 47 DOM
4. 2026-06-05
   days on market $130,000 Active 44 DOM
5. 2026-06-03
   days on market $130,000 Active 43 DOM
6. 2026-06-02
   days on market $130,000 Active 42 DOM
7. 2026-06-01
   days on market $130,000 Active 41 DOM
8. 2026-05-31
   days on market $130,000 Active 40 DOM
9. 2026-05-30
   days on market $130,000 Active 39 DOM
10. 2026-04-22
    listed $130,000 Active
11. 2026-04-20
    historical $130,000
12. 1998-07-01
    soldstatus $40,000
13. 1996-04-01
    soldstatus $27,500
14. 1995-09-01
    soldstatus $27,500

ⓘ 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: $1,749 · $146/mo
• Projected year-2 tax: $1,833 · $153/mo
• Expected delta: +$84/yr (+$7/mo · 4.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥109°F today · 17 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: $13,980
• − Mortgage interest: −$7,282
• − Property taxes: −$1,749
• − Insurance: −$650
• − Repairs & maintenance: −$1,118
• − Management: −$1,118
• − Depreciation: −$3,782
• Taxable loss: −$1,720
• Est. tax savings @ 24.0%: +$413
• After-tax cash flow: $877/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: Tonganoxie
• NCES district ID: 2012210
• Math proficiency: 25% ▼ -7.00%
• Reading proficiency: 34% ▼ -4.00%
• Median HH income: $66,669
• Composite: 27.35/100
• National rank: #6982
• State rank: #89 of 169 in KS

Livability — Tonganoxie

• Score: 71/100
• State rank: #137
• US rank: #6777

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tonganoxie, KS
• County: Leavenworth County · 57,713 people
• City population: 10,940
• Metro: Kansas City, MO-KS
• Population (ZIP): 10,940
• Household income: $98,318
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 258.0

Population outlook (Leavenworth County) Hauer SSP2

• Today (2025): 85,138 people
• By 2030: 87,518 · +2.8%
• By 2040: 91,715 · +7.7%
• By 2050: 95,304 · +11.9%
• By 2075: 103,750 · +21.9%
• By 2100: 101,230 · +18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 10% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 3% Italian 3% Slovak 3%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Spanish 1% Chinese 1%

Political lean MEDSL · Leavenworth

• 2024 margin: Strong R (+22.8) · D 37.6% · R 60.4% · Other 2.1%
• 2008→2024 swing: -11.2pp toward R · 2008: -11.6pp · 2024: -22.8pp
• All cycles: 2024: R+22.8 2020: R+21.1 2016: R+24.7 2012: R+20.2 2008: R+11.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.89%
• Current HPI: 255.5239
• Rent YoY: —
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+372.7% since first listed

5 events — show timeline

• 2026-04-22 Listed $130,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-20 Coming Soon $130,000 Heartland MLS as Distributed by MLS Grid
• 1998-07-01 Sold (Public Records) $40,000 Public Records
• 1996-04-01 Sold (Public Records) $27,500 Public Records
• 1995-09-01 Sold (Public Records) $27,500 Public Records

Property tax history

+6.0%/yr

Latest (2025): $1,749 · +3.2% YoY. Source: county tax records.