202 Grasshopper Rd · Winchester, KS 66097

$105,000

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 84 Days on market

Built 1980 9,583 sqft lot Est $148k · 29% under

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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 +16.1/30.0
• ARV discount +15.0/15.0
• Appreciation +8.7/10.0
• DSCR +5.0/10.0
• 1% rule +4.9/10.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to small-town charm in the heart of Winchester! This inviting home at 202 Grasshopper Road offers the perfect blend of comfort, functionality, and peaceful living. Step inside to find a warm and welcoming interior with spacious living areas, ideal both for relaxing and entertaining. The home features natural light, a practical layout, and comfortable bedrooms designed to suit a variety of lifestyles. Outside, enjoy a sizable yard with plenty of room for outdoor activities, gardening, or simply soaking in the quiet surroundings. Whether you're a first-time homebuyer, downsizing, or looking for an investment opportunity, this property offers incredible potential. Located in a friendly

Key facts

• Sizable yard
• Convenient access
• 9,583 sq ft lot

Tags

• SIZABLE YARD
• CONVENIENT ACCESS

Property features AI

Finance

• Other: Property inside city limits
• HOA & community: No association; no HOA fees

Exterior

• Parking: Attached garage (1 car)
• Utilities: City/Public water (verify); Public sewer; Cable, fiber, high-speed internet available
• Home design: Single-family residence; Ranch floor plan/model; 1 story (ranch)
• Construction: Board & batten siding; Composition roof; Crawl space foundation; Built approximately 41–50 years ago
• Exterior features: Metal fencing; Level city lot; Paved road with public maintenance

Interior

• Bedrooms: 3 bedrooms
• Flooring: Carpet; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; No central cooling
• Interior features: Ceiling fan(s); Storm windows
• Laundry & utility: Laundry closet on bedroom level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $54 ($642/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 $104k (1.0% below list).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#169 in KS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Jefferson County North (rural): math 42% / reading 44% proficiency, ranked #34 of 280 in KS (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jefferson County North Elem/Middle (math 37% / reading 32%, grade F, #388 of 684 statewide, top 61%, 325 students, 34% FRL); Jefferson Co North High (math 30% / reading 50%, grade F, #20 of 327 statewide, top 6%, 115 students, 35% FRL).
• Market conditions: 5 active listings in the ZIP; 61 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($726 loan paydown + $8k appreciation (7.3% local appreciation)).
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.3% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $73k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $98,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.99% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.18%
• DSCR: 1.10
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $148,176
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
81 Winchester St	0.17mi	3/2.0	1,120 (+11%)	12mo	$165,000	$147	59
403 Osage St	0.44mi	2/1.0 (-1)	896 (-11%)	12mo	$144,000	$161	46
516 Sixth St	0.39mi	2/1.0 (-1)	1,148 (+14%)	17mo	$139,000	$121	39

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

Projected returns pro-forma

7.32% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.2%
• Equity multiple: 2.44×
• Total profit: $42,200
• Equity at exit: $74,979

10-year hold

• IRR: 18.9%
• Equity multiple: 5.08×
• Total profit: $120,025
• Equity at exit: $144,481

Cash invested: $29,400 (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 66097

• Home prices YoY: 2.7%
• Active inventory: 5
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,040 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$173 /mo · $2,080/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $54

Break-even live

Break-even rent $972

Max offer price $105,000

Occupancy floor 90%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $105,000 Active 84 DOM
2. 2026-06-18
   days on market $105,000 Active 83 DOM
3. 2026-06-17
   days on market $105,000 Active 82 DOM
4. 2026-06-16
   days on market $105,000 Active 81 DOM
5. 2026-06-15
   days on market $105,000 Active 80 DOM
6. 2026-06-14
   days on market $105,000 Active 78 DOM
7. 2026-06-12
   days on market $105,000 Active 77 DOM
8. 2026-06-09
   days on market $105,000 Active 74 DOM
9. 2026-06-08
   days on market $105,000 Active 73 DOM
10. 2026-06-07
    days on market $105,000 Active 72 DOM
11. 2026-06-05
    days on market $105,000 Active 70 DOM
12. 2026-06-04
    days on market $105,000 Active 68 DOM
13. 2026-06-02
    days on market $105,000 Active 67 DOM
14. 2026-06-01
    days on market $105,000 Active 66 DOM
15. 2026-05-31
    days on market $105,000 Active 65 DOM
16. 2026-05-31
    days on market $105,000 Active 64 DOM
17. 2026-03-27
    listed $105,000 Active
18. 2008-01-01
    soldstatus $73,000
19. 1993-03-01
    soldstatus $34,000

ⓘ 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: $2,080 · $173/mo
• Projected year-2 tax: $2,080 · $173/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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,475
• − Mortgage interest: −$5,882
• − Property taxes: −$2,080
• − Insurance: −$525
• − Repairs & maintenance: −$998
• − Management: −$998
• − Depreciation: −$3,055
• Taxable loss: −$1,063
• Est. tax savings @ 24.0%: +$255
• After-tax cash flow: $897/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: Jefferson County North
• NCES district ID: 2013020
• Math proficiency: 42% ▼ -4.00%
• Reading proficiency: 44% ▬ 0.00%
• Median HH income: $54,710
• Composite: 39.73/100
• National rank: #8001
• State rank: #34 of 280 in KS

Livability — Winchester

• Score: 70/100
• State rank: #169
• US rank: #7943

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winchester, KS
• Population (ZIP): 939

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 18,534 people
• By 2030: 18,165 · -2.0%
• By 2040: 17,247 · -6.9%
• By 2050: 16,257 · -12.3%
• By 2075: 14,493 · -21.8%
• By 2100: 12,298 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Italian 4% Portuguese 3% Lithuanian 2%

Political lean MEDSL · Jefferson

• 2024 margin: Solid R (+36.9) · D 30.5% · R 67.4% · Other 2.0%
• 2008→2024 swing: -18.2pp toward R · 2008: -18.7pp · 2024: -36.9pp
• All cycles: 2024: R+36.9 2020: R+32.2 2016: R+32.3 2012: R+22.8 2008: R+18.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.32%
• Current HPI: 275.6528
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+208.8% since first listed

3 events — show timeline

• 2026-03-27 Listed $105,000 Heartland MLS as Distributed by MLS Grid
• 2008-01-01 Sold (Public Records) $73,000 Public Records
• 1993-03-01 Sold (Public Records) $34,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $2,080 · +0.1% YoY. Source: county tax records.