615 S Lafayette Ave · Chanute, KS 66720

$89,900

2 bd · 1.0 ba · 1,376 sqft · SingleFamily public records · 3 Days on market

Built 1925 6,950 sqft lot Est $116k · 22% under

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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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large 2 Bedroom with many updates! Spacious family room with built-ins for entertainment system. Kitchen equipped with floor-to-ceiling cabinetry. Separate dining room off kitchen is currently being used as a 3rd Bedroom. Double vanity in bathroom. Finished attic for storage or child's playroom has heat and AC. Basement for storage and utilities has an additional exterior walk-out entrance/exit. New furnace and AC unit in 2021. Electrical updates. Screened in front porch and large back deck. Double detached garage. All kitchen appliances included.

Key facts

• Large dining room
• Large living room
• Granite counters

Tags

• ENCLOSED FRONT PORCH
• LARGE LIVING ROOM
• LARGE DINING ROOM
• TRAY CEILINGS
• HARDWOOD FLOORS
• GRANITE COUNTERS

Property features AI

Finance

• Other: Not located in a flood plain
• HOA & community: Association fee billed annually

Exterior

• Parking: Detached 2‑car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Bungalow floor plan; Residential property
• Construction: Frame construction; Composition roof; Has full unfinished basement with inside entrance and cellar
• Exterior features: Deck; Screened porch

Interior

• Kitchen: Includes dishwasher, disposal, refrigerator, and free‑standing electric oven
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Electric cooling (central air)
• Interior features: Dishwasher; Disposal; Refrigerator; Free‑standing electric oven; Formal dining area
• Laundry & utility: Sump pump in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).

Location & tenants

• Location reads 62/100 on livability (#390 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: employment D, schools F, crime F.
• Chanute Public Schools (town): math 21% / reading 33% proficiency, ranked #130 of 169 in KS (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 21 active listings in the ZIP; 18 units permitted in Neosho County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Neosho County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $62k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $89,900

Questions for the listing agent

1. Built in 1925 — 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: 1.17% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.93%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $115,584
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 Allen Ave	0.35mi	2/1.0	1,375 (-0%)	1mo	$78,000	$57	83
704 S Allen Ave	0.27mi	3/2.0 (+1)	1,311 (-5%)	10mo	$99,900	$76	62
1121 S Lafayette Ave	0.40mi	3/2.0 (+1)	1,440 (+5%)	3mo	$195,000	$135	62
818 S Lafayette Ave	0.16mi	3/1.5 (+1)	1,540 (+12%)	9mo	$99,000	$64	58
921 W 9th St	0.30mi	3/1.0 (+1)	1,302 (-5%)	16mo	$119,900	$92	58
120 S Kansas St	0.34mi	2/1.0	1,188 (-14%)	7mo	$32,500	$27	55
915 W 4th St	0.28mi	2/1.0	1,573 (+14%)	9mo	$77,500	$49	55
517 S Evergreen Ave	0.65mi	2/1.0	1,257 (-9%)	7mo	$114,500	$91	49
119 N Garfield Ave	0.60mi	3/1.0 (+1)	1,248 (-9%)	4mo	$115,000	$92	48
1221 W 2nd St	0.53mi	3/1.5 (+1)	1,487 (+8%)	13mo	$169,900	$114	44
810 S Highland Ave	0.63mi	3/1.0 (+1)	1,464 (+6%)	13mo	$59,000	$40	44
811 W Main St	0.48mi	3/2.0 (+1)	1,578 (+15%)	10mo	$132,000	$84	36

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: -1.3%
• Equity multiple: 0.95×
• Total profit: $-1,283
• Equity at exit: $13,404

10-year hold

• IRR: 8.4%
• Equity multiple: 1.64×
• Total profit: $16,034
• Equity at exit: $7,773

Cash invested: $25,172 (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 66720

• Home prices YoY: -22.4%
• Active inventory: 21
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,050 medium
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $208

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 75%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $89,900 Active 3 DOM
2. 2026-06-17
   days on market $89,900 Active 2 DOM
3. 2026-06-16
   listed $89,900 Active 1 DOM

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $12,602
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,008
• − Management: −$1,008
• − Depreciation: −$2,615
• Taxable income: $1,136
• Est. tax owed @ 24.0%: −$273
• After-tax cash flow: $2,227/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: Chanute Public Schools
• NCES district ID: 2004590
• Math proficiency: 21% ▼ -5.00%
• Reading proficiency: 33% ▼ -3.00%
• Median HH income: $39,444
• Composite: 22.66/100
• National rank: #8049
• State rank: #130 of 169 in KS

Livability — Chanute

• Score: 62/100
• State rank: #390
• US rank: #17122

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chanute, KS
• City population: 10,913
• Population (ZIP): 10,913

Population outlook (Neosho County) Hauer SSP2

• Today (2025): 15,851 people
• By 2030: 15,452 · -2.5%
• By 2040: 14,642 · -7.6%
• By 2050: 13,836 · -12.7%
• By 2075: 11,782 · -25.7%
• By 2100: 9,024 · -43.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 5% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 3% Iranian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Neosho

• 2024 margin: Solid R (+48.1) · D 25.0% · R 73.1% · Other 1.9%
• 2008→2024 swing: -21.6pp toward R · 2008: -26.6pp · 2024: -48.1pp
• All cycles: 2024: R+48.1 2020: R+46.3 2016: R+46.8 2012: R+34.3 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.46%
• Current HPI: 185.585
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+127.6% since first listed

6 events — show timeline

• 2026-06-15 Listed $89,900 Heartland MLS as Distributed by MLS Grid
• 2022-07-25 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2022-04-18 Listed $85,000 Heartland MLS as Distributed by MLS Grid
• 2008-09-01 Sold (Public Records) $62,000 Public Records
• 2007-06-01 Sold (Public Records) $58,000 Public Records
• 1998-03-01 Sold (Public Records) $39,500 Public Records