817 W Park St · Cherryvale, KS 67335

$120,000

3 bd · 2.0 ba · 1,334 sqft · SingleFamily public records · 23 Days on market

Built 1999 Fair condition 10,307 sqft lot Est $103k · 17% over

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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 +14.4/30.0
• Appreciation +7.2/10.0
• DSCR +4.4/10.0
• 1% rule +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

For sale in Cherryvale is a three bedroom two bathroom home on a corner lot! New carpet assures the house is fresh and clean for the new owners and the attached garage makes parking hassle free. Check it out today.

Key facts

• Master suite
• Large corner lot
• Dining area

Tags

• LARGE CORNER LOT
• MASTER SUITE
• DINING AREA
• SPACIOUS LIVING ROOM
• INCREDIBLE OVERSIZED GARAGE
• ACCESS DOOR TO BACK YARD

Property features AI

Finance

• Other: Located inside city limits
• HOA & community: No association fees

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Ranch style; One story
• Construction: Frame construction; Composition roof; Built approximately 21–30 years ago
• Exterior features: City lot; Paved road with public maintenance; Not in a flood plain

Interior

• Bedrooms: 3 bedrooms (bedroom-level laundry)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Electric cooling (central cooling present)
• Interior features: Ranch floor plan; Crawl space basement
• Laundry & utility: Laundry closet on bedroom level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $23 ($278/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (10.0% below list).
• Recommended offer: $108k (10.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#214 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, schools F, amenities F.
• Cherryvale (rural): math 24% / reading 35% proficiency, ranked #108 of 169 in KS (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 16 active listings in the ZIP; 10 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($830 loan paydown + $5k appreciation (4.3% local appreciation)).
• Montgomery County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y 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.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,043 (10.0% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 D 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. 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?
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: 0.90% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.83%
• DSCR: 1.04
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $102,718
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
409 S May St	0.04mi	3/2.0	1,362 (+2%)	4mo	$120,000	$88	91
510 W Walnut St Unit S	0.16mi	3/2.0	1,293 (-3%)	7mo	$160,000	$124	82
405 May St	0.02mi	3/2.0	1,334 (0%)	21mo	$120,000	$90	81
904 W 4th St	0.20mi	3/2.0	1,293 (-3%)	6mo	$160,000	$124	80
520 Park St	0.20mi	3/1.0	1,260 (-6%)	5mo	$95,000	$75	73
415 W 2nd St	0.45mi	3/2.0	1,399 (+5%)	8mo	$69,000	$49	65
300 E 3rd St	0.75mi	3/1.0	1,270 (-5%)	2mo	$98,000	$77	52
320 N Liberty St	0.50mi	3/1.0	1,216 (-9%)	13mo	$52,000	$43	47
120 N Liberty St	0.41mi	3/2.0	1,468 (+10%)	22mo	$60,000	$41	46
413 W 2nd St	0.43mi	2/1.0 (-1)	1,480 (+11%)	21mo	$50,000	$34	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.31% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.73×
• Total profit: $24,504
• Equity at exit: $63,057

10-year hold

• IRR: 13.2%
• Equity multiple: 3.24×
• Total profit: $75,233
• Equity at exit: $104,943

Cash invested: $33,600 (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 67335

• Home prices YoY: 3.5%
• Active inventory: 16
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,080 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$151 /mo · $1,813/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $23

Break-even live

Break-even rent $1,051

Max offer price $120,000

Occupancy floor 93%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $120,000 Active 23 DOM
2. 2026-06-17
   days on market $120,000 Active 22 DOM
3. 2026-06-16
   days on market $120,000 Active 21 DOM
4. 2026-06-15
   days on market $120,000 Active 20 DOM
5. 2026-06-13
   days on market $120,000 Active 18 DOM
6. 2026-06-12
   days on market $120,000 Active 17 DOM
7. 2026-06-09
   days on market $120,000 Active 14 DOM
8. 2026-06-08
   days on market $120,000 Active 13 DOM
9. 2026-06-07
   days on market $120,000 Active 12 DOM
10. 2026-06-05
    days on market $120,000 Active 10 DOM
11. 2026-06-04
    days on market $120,000 Active 8 DOM
12. 2026-06-02
    days on market $120,000 Active 7 DOM
13. 2026-06-01
    days on market $120,000 Active 6 DOM
14. 2026-05-31
    days on market $120,000 Active 5 DOM
15. 2026-05-31
    days on market $120,000 Active 4 DOM
16. 2026-05-27
    listed $120,000 Active
17. 2026-02-12
    soldstatus Closed 214-char remark

    Show marketing remark (214 chars)

    For sale in Cherryvale is a three bedroom two bathroom home on a corner lot! New carpet assures the house is fresh and clean for the new owners and the attached garage makes parking hassle free. Check it out today.

18. 2026-01-06
    status Pending 214-char remark

    Show marketing remark (214 chars)

    For sale in Cherryvale is a three bedroom two bathroom home on a corner lot! New carpet assures the house is fresh and clean for the new owners and the attached garage makes parking hassle free. Check it out today.

19. 2025-10-24
    listed $120,000 Active 214-char remark

    Show marketing remark (214 chars)

    For sale in Cherryvale is a three bedroom two bathroom home on a corner lot! New carpet assures the house is fresh and clean for the new owners and the attached garage makes parking hassle free. Check it out today.

20. 2023-10-25
    historical
21. 2008-11-11
    listed $72,900

ⓘ 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: $1,813 · $151/mo
• Projected year-2 tax: $1,813 · $151/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 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,965
• − Mortgage interest: −$6,722
• − Property taxes: −$1,813
• − Insurance: −$600
• − Repairs & maintenance: −$1,037
• − Management: −$1,037
• − Depreciation: −$3,491
• Taxable loss: −$1,735
• Est. tax savings @ 24.0%: +$416
• After-tax cash flow: $695/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate repairs and updates to its exterior and interior, but presents a good opportunity for renovation to increase its value.

Repairs flagged

• Moderate Exterior siding — Weathered and in need of replacement
• Moderate Roof — Aged and may need replacement

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace carpet in living areas — New carpet improves comfort and appearance
• Both Update kitchen cabinets and appliances — Modern kitchen enhances functionality and appeal
• Both Update bathrooms — Fresh bathrooms improve functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and in need of replacement	Moderate	$3,000–15,000
Roof · Aged and may need replacement	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$6,000–30,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace carpet in living areas — New carpet improves comfort and appearance ↑
• Both Update kitchen cabinets and appliances — Modern kitchen enhances functionality and appeal ↑
• Both Update bathrooms — Fresh bathrooms improve functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Cherryvale
• NCES district ID: 2004740
• Math proficiency: 24% ▲ 1.00%
• Reading proficiency: 35% ▲ 6.00%
• Median HH income: $43,161
• Composite: 25.1/100
• National rank: #7531
• State rank: #108 of 169 in KS

Livability — Cherryvale

• Score: 68/100
• State rank: #214
• US rank: #9510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cherryvale, KS
• Population (ZIP): 3,300

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 29,729 people
• By 2030: 27,786 · -6.5%
• By 2040: 24,201 · -18.6%
• By 2050: 21,280 · -28.4%
• By 2075: 16,754 · -43.6%
• By 2100: 14,088 · -52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2% Native American 1%
• Common ancestry: Slovak 2% Iranian 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Arabic 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+51.1) · D 23.6% · R 74.7% · Other 1.8%
• 2008→2024 swing: -15.3pp toward R · 2008: -35.8pp · 2024: -51.1pp
• All cycles: 2024: R+51.1 2020: R+50.2 2016: R+50.8 2012: R+41.4 2008: R+35.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.31%
• Current HPI: 128.0231
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+64.6% since first listed

6 events — show timeline

• 2026-05-27 Listed $120,000 Heartland MLS as Distributed by MLS Grid
• 2026-02-12 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2026-01-06 Pending — Heartland MLS as Distributed by MLS Grid
• 2025-10-24 Listed $120,000 Heartland MLS as Distributed by MLS Grid
• 2023-10-25 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2008-11-11 Listed $72,900 Heartland MLS as Distributed by MLS Grid