321 W Violet Ave

Potwin, KS 67123

$67,000B-

1 bd · 1.0 ba · 623 sqft · Built 1918 · SingleFamily · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $778/mo
• Mortgage (P&I): −$351
• Tax + insurance: −$96
• HOA: −$0
• Vac / Maint / Mgmt: −$163
• Net cashflow: $168/mo
• Annual: $2,012/yr
• Cap rate: 9.30%
• Cash-on-cash: 10.73%
• DSCR: 1.48
• 1% rule: 1.16%
• Cash to close: $18,760

Investor read

• This is a 1-bed/1.0-bath single-family listed at $67k.
• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($778 rent vs $67k).
• It's been on market 28 days — a 2% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (1.5% below list) — sets the bar for market timing.
• In year one you build about $868 of equity ($463 loan paydown + $405 appreciation (0.6% local appreciation)).
• Location reads 56/100 on livability (#555 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: employment D, crime F, amenities F.
• Remington-Whitewater (rural): math 36% / reading 42% proficiency, ranked #31 of 169 in KS (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Remington Elementary At Potwin (math 54% / reading 54%, grade C, #107 of 684 statewide, top 18%, 198 students, 38% FRL); Remington Middle School (math 32% / reading 42%, grade F, #37 of 219 statewide, top 19%, 142 students, 43% FRL); Frederic Remington High (math 10% / reading 10%, grade F, #289 of 327 statewide, top 93%, 148 students, 32% FRL).
• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 235 units permitted in Butler County in 2024 (0 in 5+ unit buildings).
• At projected returns (0.6% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1918 — 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.
• 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.
• 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.