6251 SE Varck Rd

Riverton, KS 66770

$75,000B

3 bd · 1.5 ba · 1,656 sqft · Built 1910 · SingleFamily · Pending · 122 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,120/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$280
• HOA: −$0
• Vac / Maint / Mgmt: −$235
• Net cashflow: $212/mo
• Annual: $2,539/yr
• Cap rate: 11.68%
• Cash-on-cash: 19.24%
• DSCR: 1.86
• 1% rule: 1.49%
• Cash to close: $21,000

Investor read

• This is a 3-bed/1.5-bath single-family listed at $75k.
• At list price, monthly cash flow is $212 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• It's been on market 122 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($519 loan paydown + $3k appreciation (4.5% local appreciation)).
• Location reads 61/100 on livability (#398 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Riverton (town): math 19% / reading 32% proficiency, ranked #133 of 169 in KS (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Riverton Elem (math 22% / reading 37%, grade F, #463 of 684 statewide, top 73%, 311 students, 57% FRL); Riverton Middle (math 12% / reading 27%, grade F, #152 of 219 statewide, top 72%, 170 students, 57% FRL).
• Watch-outs: flood insurance adds $125/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 17 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).
• Cherokee County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 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?
• 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?
• 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.