446 S College Ave · Salina, KS 67401

$50,000

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 57 Days on market

Built 1922 3,920 sqft 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
• Rent growth +3.9/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Key facts

• Privacy fenced yard
• 3,920 sq ft lot
• Garage

Tags

• PRIVACY FENCED YARD
• DETACHED OVERSIZED GARAGE
• ENCLOSED NON-CONFORMING AREA

Property features AI

Exterior

• Utilities: Public sewer available; Natural gas available
• Home design: Single-family onsite-built home
• Construction: Composition roof; Partial foundation with crawl space
• Exterior features: One level; Wood fencing

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Floor furnace (natural gas); Wall/window air conditioning units (electric)
• Interior features: Unfinished basement; Basement has partial foundation with crawl space and no basement windows
• Laundry & utility: Laundry in basement; 220V outlet for laundry equipment

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $602 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#127 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F, amenities F.
• Salina (town): math 21% / reading 30% proficiency, ranked #134 of 169 in KS (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Cottonwood Elementary School (math 22% / reading 32%, grade F, #507 of 684 statewide, top 78%, 372 students, 82% FRL); Lakewood Middle School (math 11% / reading 23%, grade F, #167 of 219 statewide, top 78%, 688 students, 65% FRL); Salina High Central (math 8% / reading 24%, grade F, #247 of 327 statewide, top 75%, 944 students, 57% FRL) — zoned schools average 68% FRL vs 50% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.7%/yr); 328 active listings in the ZIP; 293 units permitted in Saline County in 2024 (186 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Saline County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1922 — 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. 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. 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: 2.39% ✓
• Cap rate: 20.74%
• Cash-on-cash: 51.60%
• DSCR: 3.30
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.66% rent growth · sell at horizon

5-year hold

• IRR: 52.5%
• Equity multiple: 3.40×
• Total profit: $33,542
• Equity at exit: $7,455

10-year hold

• IRR: 58.8%
• Equity multiple: 7.64×
• Total profit: $92,894
• Equity at exit: $4,323

Cash invested: $14,000 (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 67401

• Rents YoY: 5.7%
• Active inventory: 328
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,197 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$60 /mo · $725/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $602

Break-even live

Break-even rent $435

Max offer price $50,000

Occupancy floor 45%

Sensitivity live

Price	-10% $630	-5% $616	+0% $602	+5% $588	+10% $574
Rent	-10% $507	-5% $555	+0% $602	+5% $649	+10% $697
Rate	-1.0pp $627	-0.5pp $615	base $602	+0.5pp $589	+1.0pp $576

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $50,000 Active 57 DOM
2. 2026-06-18
   days on market $50,000 Active 56 DOM
3. 2026-06-17
   days on market $50,000 Active 55 DOM
4. 2026-06-16
   days on market $50,000 Active 54 DOM
5. 2026-06-15
   days on market $50,000 Active 53 DOM
6. 2026-06-14
   days on market $50,000 Active 51 DOM
7. 2026-06-12
   days on market $50,000 Active 50 DOM
8. 2026-06-09
   days on market $50,000 Active 47 DOM
9. 2026-06-08
   days on market $50,000 Active 46 DOM
10. 2026-06-07
    days on market $50,000 Active 45 DOM
11. 2026-06-05
    days on market $50,000 Active 42 DOM
12. 2026-06-03
    days on market $50,000 Active 41 DOM
13. 2026-06-02
    days on market $50,000 Active 40 DOM
14. 2026-06-01
    days on market $50,000 Active 39 DOM
15. 2026-05-31
    days on market $50,000 Active 38 DOM
16. 2026-05-30
    days on market $50,000 Active 37 DOM
17. 2026-04-23
    listed $50,000 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: $725 · $60/mo
• Projected year-2 tax: $725 · $60/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,361
• − Mortgage interest: −$2,801
• − Property taxes: −$725
• − Insurance: −$250
• − Repairs & maintenance: −$1,149
• − Management: −$1,149
• − Depreciation: −$1,455
• Taxable income: $6,833
• Est. tax owed @ 24.0%: −$1,640
• After-tax cash flow: $5,584/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: Salina
• NCES district ID: 2011370
• Math proficiency: 21% ▼ -3.00%
• Reading proficiency: 30% ▼ -1.00%
• Median HH income: $44,726
• Composite: 21.94/100
• National rank: #8224
• State rank: #134 of 169 in KS

Livability — Salina

• Score: 71/100
• State rank: #127
• US rank: #6569

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salina, KS
• County: Saline County · 50,217 people
• City population: 50,217
• Metro: Salina, KS
• Population (ZIP): 50,217
• Household income: $64,606
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1536.0

Population outlook (Saline County) Hauer SSP2

• Today (2025): 55,099 people
• By 2030: 54,446 · -1.2%
• By 2040: 52,572 · -4.6%
• By 2050: 50,362 · -8.6%
• By 2075: 45,522 · -17.4%
• By 2100: 40,059 · -27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 13% Two or more races 7% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 3% Iranian 2% Slovak 2%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 6% Other Asian/Pacific 1% Korean 1%

Political lean MEDSL · Saline

• 2024 margin: Solid R (+31.6) · D 33.3% · R 64.9% · Other 1.8%
• 2008→2024 swing: -5.3pp toward R · 2008: -26.2pp · 2024: -31.6pp
• All cycles: 2024: R+31.6 2020: R+30.5 2016: R+34.3 2012: R+32.2 2008: R+26.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.03%
• Current HPI: 175.4541
• Rent YoY: ▲ 5.66%
• Metro: Salina, KS
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-04-23 Listed $50,000 SCKMLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2025): $725 · +9.1% YoY. Source: county tax records.