409 N 6th St

Sabetha, KS 66534

$99,500C

3 bd · 1.0 ba · 1,456 sqft · Built 1910 · SingleFamily · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,108/mo
• Mortgage (P&I): −$522
• Tax + insurance: −$166
• HOA: −$0
• Vac / Maint / Mgmt: −$233
• Net cashflow: $188/mo
• Annual: $2,253/yr
• Cap rate: 8.56%
• Cash-on-cash: 8.09%
• DSCR: 1.36
• 1% rule: 1.11%
• Cash to close: $27,860

Investor read

• This is a 3-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 15 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#146 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, amenities F, commute F.
• Zoned schools: Sabetha Elementary School (math 52% / reading 62%, grade C+, #89 of 684 statewide, top 14%, 393 students, 41% FRL); Sabetha Middle School (math 27% / reading 47%, grade F, #37 of 219 statewide, top 19%, 166 students, 32% FRL); Sabetha High School (math 34% / reading 24%, grade F, #60 of 327 statewide, top 24%, 232 students, 25% FRL).
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 10 active listings in the ZIP; 14 units permitted in Nemaha County in 2024 (0 in 5+ unit buildings).
• Nemaha County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Questions for listing agent

• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.
• 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.
• 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.