906 S Neosho St · Council Grove, KS 66846

$127,500

2 bd · 2.0 ba · 1,064 sqft · Manufactured public records · 2 Days on market

Built 1981 0.42 ac lot ↓ 5% since listing

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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 +8.1/30.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.4/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0

Key facts

• Outbuildings
• Stone fireplace
• Detached cabin

Tags

• OPEN-CONCEPT LAYOUT
• STONE FIREPLACE
• COVERED OUTDOOR LIVING SPACES
• FENCED BACKYARD
• OUTBUILDINGS
• DETACHED CABIN

Property features AI

Exterior

• Utilities: Public water; Septic tank; Natural gas available; Air purifier (equipment)
• Home design: Manufactured single-family residence; Single-story (above grade finished area listed)
• Construction: Metal siding; Asphalt roof; Basement: Other
• Exterior features: Chain link fencing; Outbuilding and storage structures; Other exterior structure(s)

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fans; Electric and natural gas heating; Fireplace insert
• Interior features: Ceiling fan(s); Electric fireplace with insert

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $128k.

Deal economics

• At list price, monthly cash flow is $-127 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (14.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (25.2% below list).
• Recommended offer: $95k (25.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#22 in KS, #2,091 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, employment C-, schools D-.
• Morris County (rural): math 39% / reading 41% proficiency, ranked #34 of 169 in KS (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 active listings in the ZIP; 1 units permitted in Morris County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($882 loan paydown + $7k appreciation (5.1% local appreciation)).
• Morris County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,423 (25.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.75% ✗
• Cap rate: 5.09%
• Cash-on-cash: -4.28%
• DSCR: 0.81
• GRM: 11.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.6%
• Equity multiple: 1.62×
• Total profit: $22,216
• Equity at exit: $73,233

10-year hold

• IRR: 11.1%
• Equity multiple: 3.07×
• Total profit: $73,796
• Equity at exit: $127,208

Cash invested: $35,700 (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 66846

• Home prices YoY: 2.7%
• Active inventory: 26
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $954 medium
• Mortgage (P&I): −$669
• Tax est. 1.5%: −$159 /mo · $1,912/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $-127

Break-even live

Break-even rent $1,115

Max offer price $109,082

Occupancy floor —

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: $31,875
• Closing costs: $3,825
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-19
   days on market $127,500 Active 2 DOM
2. 2026-06-18
   listed $127,500 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 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,451
• − Mortgage interest: −$7,142
• − Property taxes: −$1,912
• − Insurance: −$638
• − Repairs & maintenance: −$916
• − Management: −$916
• − Depreciation: −$3,709
• Taxable loss: −$3,782
• Est. tax savings @ 24.0%: +$908
• After-tax cash flow: $-620/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: Morris County
• NCES district ID: 2005280
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $44,531
• Composite: 33.97/100
• National rank: #5325
• State rank: #34 of 169 in KS

Livability — Council Grove

• Score: 79/100
• State rank: #22
• US rank: #2091

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Council Grove, KS
• Population (ZIP): 3,331

Population outlook (Morris County) Hauer SSP2

• Today (2025): 5,249 people
• By 2030: 5,035 · -4.1%
• By 2040: 4,640 · -11.6%
• By 2050: 4,331 · -17.5%
• By 2075: 3,990 · -24.0%
• By 2100: 3,696 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Morris

• 2024 margin: Solid R (+46.6) · D 25.8% · R 72.4% · Other 1.8%
• 2008→2024 swing: -12.5pp toward R · 2008: -34.1pp · 2024: -46.6pp
• All cycles: 2024: R+46.6 2020: R+47.9 2016: R+46.9 2012: R+41.4 2008: R+34.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.13%
• Current HPI: 197.7492
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-4.9% since first listed

5 events — show timeline

• 2026-06-17 Listed $127,500 FHAOR as distributed by MLS GRID
• 2025-03-10 Price Changed $132,000 Sunflower MLS as distributed by MLS GRID
• 2024-11-18 Price Changed $134,000 Sunflower MLS as distributed by MLS GRID
• 1999-05-01 Sold (Public Records) — Public Records
• 1993-08-01 Sold (Public Records) — Public Records