1115 N 26th St · Parsons, KS 67357

$91,900

2 bd · 1.5 ba · 1,035 sqft · SingleFamily public records · 33 Days on market

Built 1920 4,791 sqft lot Est $64k · 43% over

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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).

• Cash flow +19.1/30.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Key facts

• Covered front porch
• Firepit
• Private yard

Tags

• PRIVATE YARD
• FIREPIT
• STORAGE SHED
• ATTACHED MOWER GARAGE
• COVERED FRONT PORCH

Property features AI

Finance

• Other: Annual tax listed

Exterior

• Parking: Attached garage with 1 space; Driveway parking
• Utilities: Electricity available; Public sewer
• Home design: Single-family residence (freestanding); Residential property
• Construction: Vinyl siding; Stone and block foundation; Composition roof; Built as single-story (above-grade finished area listed as 1,153)
• Exterior features: Covered patio and porch; Patio; Porch; Privacy fencing; Level topography

Interior

• Kitchen: Gas Range, Refrigerator, Microwave
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central heating; Has cooling
• Interior features: Gas Range, Refrigerator, Microwave; No fireplace; 7 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $98 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($928 rent vs $92k).
• Recommended offer: $89k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 5.4% in Parsons — 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 70/100 on livability (#164 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime F, commute F.
• Parsons (town): math 21% / reading 28% proficiency, ranked #143 of 169 in KS (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lincoln School (283 students, 78% FRL); Parsons Middle School (math 18% / reading 23%, grade F, #144 of 219 statewide, top 66%, 295 students, 84% FRL) — zoned schools average 81% FRL vs 60% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 45 active listings in the ZIP; 1 units permitted in Labette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $635 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Labette County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.
• Current owner paid $32k; list at $92k implies a 187% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,143 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 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 1920 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.58%
• DSCR: 1.20
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $64,170
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2617 N North Blvd	0.19mi	2/1.0	1,120 (+8%)	1mo	$70,000	$63	75
2530 Dirr Ave	0.48mi	3/1.0 (+1)	1,073 (+4%)	1mo	$74,900	$70	64
2014 Maple Ave	0.48mi	2/1.0	988 (-4%)	6mo	$35,000	$35	63
2713 Stevens Ave	0.55mi	2/1.0	1,082 (+4%)	4mo	$22,000	$20	61
415 N 25th St	0.58mi	3/1.0 (+1)	1,025 (-1%)	11mo	$69,900	$68	55
1820 Felix Ave	0.65mi	2/1.0	968 (-6%)	11mo	$60,000	$62	48
2408 Stevens Ave	0.57mi	3/1.5 (+1)	1,169 (+13%)	4mo	$10,000	$9	43
3024 Chess Ave	0.57mi	2/1.0	925 (-11%)	14mo	$105,000	$114	42
911 N Central Ave	0.63mi	3/1.0 (+1)	1,184 (+14%)	2mo	$56,000	$47	38
2318 Clark Ave	0.68mi	3/1.5 (+1)	936 (-10%)	15mo	$75,000	$80	35
417 N 27th St	0.58mi	3/1.0 (+1)	1,184 (+14%)	9mo	$36,000	$30	35
310 N 30th St	0.74mi	3/1.0 (+1)	1,177 (+14%)	5mo	$19,900	$17	32

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: -9.1%
• Equity multiple: 0.67×
• Total profit: $-8,619
• Equity at exit: $13,703

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $610
• Equity at exit: $7,946

Cash invested: $25,732 (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 67357

• Home prices YoY: -20.4%
• Active inventory: 45
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $928 medium
• Mortgage (P&I): −$482
• Tax est. 1.5%: −$115 /mo · $1,378/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $98

Break-even live

Break-even rent $804

Max offer price $91,900

Occupancy floor 84%

Sensitivity live

Price	-10% $162	-5% $130	+0% $98	+5% $67	+10% $35
Rent	-10% $25	-5% $62	+0% $98	+5% $135	+10% $172
Rate	-1.0pp $145	-0.5pp $122	base $98	+0.5pp $74	+1.0pp $50

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: $22,975
• Closing costs: $2,757
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $91,900 Active 33 DOM
2. 2026-06-21
   days on market $91,900 Active 32 DOM
3. 2026-06-18
   days on market $91,900 Active 30 DOM
4. 2026-06-17
   days on market $91,900 Active 29 DOM
5. 2026-06-16
   days on market $91,900 Active 28 DOM
6. 2026-06-15
   days on market $91,900 Active 27 DOM
7. 2026-06-13
   days on market $91,900 Active 25 DOM
8. 2026-06-12
   days on market $91,900 Active 24 DOM
9. 2026-06-09
   days on market $91,900 Active 21 DOM
10. 2026-06-08
    days on market $91,900 Active 20 DOM
11. 2026-06-07
    statusdays on market $91,900 Active 19 DOM
12. 2026-05-07
    listed $91,900 Active
13. 2026-01-18
    historical
14. 2025-12-11
    price $100,000
15. 2025-08-18
    listed $120,000 Active
16. 2024-11-15
    price $127,000
17. 2022-03-28
    soldstatus
18. 2022-01-02
    listed $24,900
19. 2009-02-01
    soldstatus $32,000
20. 2002-04-01
    soldstatus $25,800
21. 1986-10-01
    soldstatus $21,000

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 19 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: $11,140
• − Mortgage interest: −$5,148
• − Property taxes: −$1,378
• − Insurance: −$460
• − Repairs & maintenance: −$891
• − Management: −$891
• − Depreciation: −$2,673
• Taxable loss: −$302
• Est. tax savings @ 24.0%: +$72
• After-tax cash flow: $1,252/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: Parsons
• NCES district ID: 2010560
• Math proficiency: 21% ▼ -7.00%
• Reading proficiency: 28% ▼ -3.00%
• Median HH income: $37,868
• Composite: 20.46/100
• National rank: #8576
• State rank: #143 of 169 in KS

Livability — Parsons

• Score: 70/100
• State rank: #164
• US rank: #7726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parsons, KS
• City population: 11,786
• Population (ZIP): 11,786

Population outlook (Labette County) Hauer SSP2

• Today (2025): 19,413 people
• By 2030: 18,552 · -4.4%
• By 2040: 16,701 · -14.0%
• By 2050: 14,832 · -23.6%
• By 2075: 11,046 · -43.1%
• By 2100: 8,020 · -58.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 7% Hispanic / Latino 7% Black 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Labette

• 2024 margin: Solid R (+38.2) · D 30.1% · R 68.3% · Other 1.6%
• 2008→2024 swing: -25.3pp toward R · 2008: -12.9pp · 2024: -38.2pp
• All cycles: 2024: R+38.2 2020: R+36.0 2016: R+37.9 2012: R+20.2 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.97%
• Current HPI: 147.8259
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+337.6% since first listed

10 events — show timeline

• 2026-05-07 Listed $91,900 OGAR
• 2026-01-18 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-12-11 Price Changed $100,000 Heartland MLS as Distributed by MLS Grid
• 2025-08-18 Listed $120,000 Heartland MLS as Distributed by MLS Grid
• 2024-11-15 Price Changed $127,000 OGAR
• 2022-03-28 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2022-01-02 Listed $24,900 Heartland MLS as Distributed by MLS Grid
• 2009-02-01 Sold (Public Records) $32,000 Public Records
• 2002-04-01 Sold (Public Records) $25,800 Public Records
• 1986-10-01 Sold (Public Records) $21,000 Public Records