218 S 4th St · Lincoln Center, KS 67455

$109,900

4 bd · 1.0 ba · 1,930 sqft · SingleFamily public records · 22 Days on market

Built 1927

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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 +26.2/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Appreciation +6.3/10.0
• Livability +3.6/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Open loft
• Plumbing upgrades
• Separate prep room

Tags

• HARDWOOD FLOORS
• OPEN LOFT
• ELECTRICAL UPGRADES
• PLUMBING UPGRADES
• SEPARATE PREP ROOM
• SEPARATE FOOD PANTRY

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#108 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: employment D, schools F, amenities F.
• Lincoln (rural): math 30% / reading 30% proficiency, ranked #170 of 280 in KS (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP.

Forward outlook

• In year one you build about $4k of equity ($760 loan paydown + $3k appreciation (2.7% local appreciation)).
• Lincoln County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, 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 22 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $44k; list at $110k implies a 147% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,251 (1.5% below list)

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
5. 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.
6. 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: 1.20% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.90%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.0%
• Equity multiple: 1.95×
• Total profit: $29,281
• Equity at exit: $47,526

10-year hold

• IRR: 18.7%
• Equity multiple: 3.65×
• Total profit: $81,573
• Equity at exit: $71,806

Cash invested: $30,772 (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 67455

• Home prices YoY: 1.4%
• Active inventory: 5
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,315 medium
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $279

Break-even live

Break-even rent $961

Max offer price $109,900

Occupancy floor 74%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-15
   days on market $109,900 Active 22 DOM
2. 2026-06-13
   days on market $109,900 Active 20 DOM
3. 2026-06-12
   days on market $109,900 Active 19 DOM
4. 2026-06-09
   days on market $109,900 Active 16 DOM
5. 2026-06-08
   days on market $109,900 Active 15 DOM
6. 2026-06-07
   days on market $109,900 Active 14 DOM
7. 2026-06-05
   days on market $109,900 Active 12 DOM
8. 2026-06-04
   days on market $109,900 Active 10 DOM
9. 2026-06-02
   days on market $109,900 Active 9 DOM
10. 2026-06-01
    days on market $109,900 Active 8 DOM
11. 2026-05-31
    days on market $109,900 Active 7 DOM
12. 2026-05-31
    days on market $109,900 Active 6 DOM
13. 2026-05-25
    listed $109,900 Active
14. 2006-06-01
    soldstatus $44,500
15. 2000-08-01
    soldstatus $38,000
16. 1993-07-01
    soldstatus $20,000

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,781
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$1,263
• − Management: −$1,263
• − Depreciation: −$3,197
• Taxable income: $1,705
• Est. tax owed @ 24.0%: −$409
• After-tax cash flow: $2,944/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: Lincoln
• NCES district ID: 2008790
• Math proficiency: 30% ▲ 5.00%
• Reading proficiency: 30% ▲ 5.00%
• Median HH income: $44,050
• Composite: 28.47/100
• National rank: #12098
• State rank: #170 of 280 in KS

Livability — Lincoln Center

• Score: 72/100
• State rank: #108
• US rank: #6112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln Center, KS
• Population (ZIP): 1,609

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 3,008 people
• By 2030: 2,967 · -1.4%
• By 2040: 2,880 · -4.3%
• By 2050: 2,823 · -6.2%
• By 2075: 2,956 · -1.7%
• By 2100: 2,911 · -3.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 5% Portuguese 3% Italian 2%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+65.2) · D 16.6% · R 81.8% · Other 1.6%
• 2008→2024 swing: -11.2pp toward R · 2008: -54.0pp · 2024: -65.2pp
• All cycles: 2024: R+65.2 2020: R+64.1 2016: R+65.9 2012: R+59.2 2008: R+54.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.69%
• Current HPI: 192.3371
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+449.5% since first listed

4 events — show timeline

• 2026-05-25 Listed $109,900 FSBO.com
• 2006-06-01 Sold (Public Records) $44,500 Public Records
• 2000-08-01 Sold (Public Records) $38,000 Public Records
• 1993-07-01 Sold (Public Records) $20,000 Public Records