108 E 23rd N/A · Pittsburg, KS 66762

$125,000

3 bd · 1.0 ba · 1,107 sqft · SingleFamily public records · 212 Days on market

Built 1930 5,681 sqft lot $113/sqft · 25% above area Est $100k · 25% over

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Why this score? — see what drove the C- 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 +26.2/30.0
• DSCR +8.8/10.0
• 1% rule +6.2/10.0
• Rent growth +5.0/5.0
• Livability +3.3/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy 3 bedroom home with an additional bonus room that could be a 4th bedroom or family room. Home has insulated windows, vinyl siding and a detached one car garage.

Key facts

• 5,681 sq ft lot
• Garage
• Built 1930

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 5.4% in Pittsburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#270 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A; Watch: schools D, crime F, amenities F.
• Pittsburg (town): math 29% / reading 31% proficiency, ranked #111 of 169 in KS (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+13.8%/yr); 139 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 65 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $41k; list at $125k implies a 205% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 212 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.12% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.89%
• DSCR: 1.48
• GRM: 7.5

CMA / ARV

• ARV (median comp): $100,338
• List price: $125,000
• Delta: 24.58%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 E 22nd St	0.04mi	3/2.0	1,085 (-2%)	7mo	$68,000	$63	85
211 E 21st St	0.17mi	2/1.0 (-1)	1,104 (-0%)	4mo	$45,000	$41	83
1906 N Smelter St	0.41mi	3/1.0	1,120 (+1%)	1mo	$117,500	$105	78
205 W 18th St	0.38mi	3/1.0	1,080 (-2%)	1mo	$125,000	$116	77
1811 N Michigan N/A	0.47mi	3/1.5	1,152 (+4%)	2mo	$139,900	$121	68
218 E 23rd St	0.14mi	2/1.0 (-1)	1,210 (+9%)	13mo	$97,500	$81	62
210 E 21st St	0.19mi	2/2.0 (-1)	1,237 (+12%)	5mo	$93,000	$75	58
1814 N Joplin St	0.32mi	3/1.0	1,248 (+13%)	8mo	$125,500	$101	58
1805 N Joplin N/A	0.32mi	3/1.0	1,268 (+14%)	10mo	$59,500	$47	52
611 E 21st St	0.48mi	3/1.0	984 (-11%)	11mo	$35,000	$36	50
610 E 29th St	0.64mi	2/1.0 (-1)	1,009 (-9%)	2mo	$43,900	$44	48
605 E 27th St	0.49mi	3/1.5	1,268 (+14%)	6mo	$164,900	$130	46

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 5.1%
• Equity multiple: 1.21×
• Total profit: $7,329
• Equity at exit: $18,638

10-year hold

• IRR: 18.5%
• Equity multiple: 2.88×
• Total profit: $65,933
• Equity at exit: $10,808

Cash invested: $35,000 (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 66762

• Rents YoY: 13.8%
• Active inventory: 139
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,398 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$79 /mo · $946/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $318

Break-even live

Break-even rent $996

Max offer price $125,000

Occupancy floor 72%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
544 E 23rd St Pittsburg, KS	3.0	2.0	1190	$1,800	$1.51	43d	1	0.43mi
1019 E 15th St Pittsburg, KS	3.0	1.0	1222	$1,050	$0.86	43d	1	1.03mi
511 W 2nd St Pittsburg, KS	2.0	1.0	846	$850	$1.00	43d	1	1.39mi

Listing history 7 events

1. 2026-05-31
   days on market $125,000 Active 212 DOM
2. 2026-05-30
   days on market $125,000 Active 211 DOM
3. 2025-12-10
   price $125,000 165-char remark

   Show marketing remark (165 chars)

   Cozy 3 bedroom home with an additional bonus room that could be a 4th bedroom or family room. Home has insulated windows, vinyl siding and a detached one car garage.

4. 2025-10-31
   listed $130,000 Active 165-char remark

   Show marketing remark (165 chars)

   Cozy 3 bedroom home with an additional bonus room that could be a 4th bedroom or family room. Home has insulated windows, vinyl siding and a detached one car garage.

5. 2025-01-27
   soldstatus
6. 2003-10-01
   soldstatus $41,000
7. 1999-11-01
   soldstatus $43,500

ⓘ 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: $946 · $79/mo
• Projected year-2 tax: $1,762 · $147/mo
• Expected delta: +$816/yr (+$68/mo · 86.2%)

ⓘ 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 4/10 Moderate
• 🌡 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,770
• − Mortgage interest: −$7,002
• − Property taxes: −$946
• − Insurance: −$625
• − Repairs & maintenance: −$1,342
• − Management: −$1,342
• − Depreciation: −$3,636
• Taxable income: $1,877
• Est. tax owed @ 24.0%: −$451
• After-tax cash flow: $3,360/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: Pittsburg
• NCES district ID: 2010710
• Math proficiency: 29% ▼ -5.00%
• Reading proficiency: 31% ▼ -4.00%
• Median HH income: $33,608
• Composite: 24.63/100
• National rank: #7629
• State rank: #111 of 169 in KS

Livability — Pittsburg

• Score: 66/100
• State rank: #270
• US rank: #12149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsburg, KS
• County: Crawford County · 24,907 people
• City population: 24,907
• Metro: Pittsburg, KS
• Population (ZIP): 24,907
• Household income: $50,511
• Rent vs Own: 46.7% rent · 53.3% own
• Severe rent burden: 1186.0

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 39,393 people
• By 2030: 39,540 · +0.4%
• By 2040: 39,452 · +0.1%
• By 2050: 39,188 · -0.5%
• By 2075: 39,038 · -0.9%
• By 2100: 38,219 · -3.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 10% Two or more races 5% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 6% Other Asian/Pacific 1%

Political lean MEDSL · Crawford

• 2024 margin: Strong R (+25.3) · D 36.5% · R 61.7% · Other 1.8%
• 2008→2024 swing: -26.7pp toward R · 2008: 1.4pp · 2024: -25.3pp
• All cycles: 2024: R+25.3 2020: R+23.1 2016: R+23.1 2012: R+6.5 2008: D+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.14%
• Current HPI: 158.7878
• Rent YoY: ▲ 13.80%
• Metro: Pittsburg, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+187.4% since first listed

5 events — show timeline

• 2025-12-10 Price Changed $125,000 Heartland MLS as Distributed by MLS Grid
• 2025-10-31 Listed $130,000 Heartland MLS as Distributed by MLS Grid
• 2025-01-27 Sold (Public Records) — Public Records
• 2003-10-01 Sold (Public Records) $41,000 Public Records
• 1999-11-01 Sold (Public Records) $43,500 Public Records

Property tax history

+1.4%/yr

Latest (2025): $946 · +11.4% YoY. Source: county tax records.