308 Spruce · Athol, KS 66932

$45,000

3 bd · 2.0 ba · 1,498 sqft · SingleFamily public records · 17 Days on market

Built 1987

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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
• Appreciation +5.0/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.2/5.0

Key facts

• Renovated in 1987
• Laundry room
• Covered patio

Tags

• RENOVATED IN 1987
• STEEL SIDING WITH BRICK VENEER
• COVERED PATIO
• BUILT IN DESK
• LAUNDRY ROOM
• ALL APPLIANCES INCLUDED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $652 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 45/100 on livability (#650 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Thunder Ridge Schools (rural): math 35% / reading 35% proficiency, ranked #120 of 280 in KS (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($311 loan paydown + $1k appreciation (3.0% local appreciation)).
• Smith County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Recommended offer $44,325 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 2.71% ✓
• Cap rate: 23.68%
• Cash-on-cash: 62.10%
• DSCR: 3.76
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 66.9%
• Equity multiple: 4.73×
• Total profit: $46,966
• Equity at exit: $20,234

10-year hold

• IRR: 66.4%
• Equity multiple: 9.65×
• Total profit: $109,029
• Equity at exit: $31,183

Cash invested: $12,600 (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 66932

• Active inventory: 1
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,219 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $652

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 42%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $45,000 Active 17 DOM
2. 2026-06-17
   days on market $45,000 Active 16 DOM
3. 2026-06-16
   days on market $45,000 Active 15 DOM
4. 2026-06-15
   days on market $45,000 Active 14 DOM
5. 2026-06-13
   days on market $45,000 Active 12 DOM
6. 2026-06-12
   days on market $45,000 Active 11 DOM
7. 2026-06-09
   days on market $45,000 Active 8 DOM
8. 2026-06-08
   days on market $45,000 Active 7 DOM
9. 2026-06-07
   days on market $45,000 Active 6 DOM
10. 2026-06-05
    days on market $45,000 Active 4 DOM
11. 2026-06-04
    days on market $45,000 Active 2 DOM
12. 2026-06-01
    listed $45,000 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 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 15 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: $14,628
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,170
• − Management: −$1,170
• − Depreciation: −$1,309
• Taxable income: $7,558
• Est. tax owed @ 24.0%: −$1,814
• After-tax cash flow: $6,010/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: Thunder Ridge Schools
• NCES district ID: 2000346
• Math proficiency: 35% ▲ 5.00%
• Reading proficiency: 35% ▬ 0.00%
• Median HH income: $43,692
• Composite: 32.38/100
• National rank: #10878
• State rank: #120 of 280 in KS

Livability — Athol

• Score: 45/100
• State rank: #650
• US rank: #26694

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Athol, KS
• Population (ZIP): 118

Population outlook (Smith County) Hauer SSP2

• Today (2025): 3,421 people
• By 2030: 3,302 · -3.5%
• By 2040: 3,081 · -9.9%
• By 2050: 2,805 · -18.0%
• By 2075: 2,521 · -26.3%
• By 2100: 1,978 · -42.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Portuguese 1%
• Foreign-born: 1% · Vietnam
• Languages at home: 99% English-only · Vietnamese 1%

Political lean MEDSL · Smith

• 2024 margin: Solid R (+68.5) · D 15.0% · R 83.5% · Other 1.6%
• 2008→2024 swing: -10.8pp toward R · 2008: -57.8pp · 2024: -68.5pp
• All cycles: 2024: R+68.5 2020: R+67.2 2016: R+66.5 2012: R+63.2 2008: R+57.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+32.4% since first listed

3 events — show timeline

• 2026-06-01 Listed $45,000 FSBO.com
• 2001-11-01 Sold (Public Records) $40,000 Public Records
• 1994-09-01 Sold (Public Records) $34,000 Public Records