109 W 22nd St · Pittsburg, KS 66762

$50,000

1 bd · 1.0 ba · 816 sqft · SingleFamily public records · 28 Days on market

Built 1930 5,680 sqft lot $61/sqft · 47% below area Est $95k · 47% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Livability +3.3/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

his 2-bedroom, 1-bath home offers plenty of opportunity for the right buyer. Featuring a bonus room that could serve as an office or hobby space, a separate laundry room, and a decent-sized kitchen, the layout provides flexibility and functionality. With some updates and vision, this property could make a great first home or an excellent investment. SOLD AS IS

Key facts

• Decent-sized kitchen
• Bonus room
• 5,680 sq ft lot

Tags

• BONUS ROOM
• SEPARATE LAUNDRY ROOM
• DECENT-SIZED KITCHEN

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($757 rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.6% 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: crime F, amenities F, commute 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.
• Zoned schools: Pittsburg Middle School (math 28% / reading 26%, grade F, #94 of 219 statewide, top 44%, 720 students, 67% FRL); Pittsburg High (math 27% / reading 32%, grade F, #60 of 327 statewide, top 24%, 1,017 students, 60% FRL).
• Market conditions: Rents rising fast (+13.8%/yr); 142 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 65 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• This rent is only 18% of the median local income ($51k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $14k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $21k; list at $50k implies a 140% 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 $49,250 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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 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?
4. 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?
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: 1.51% ✓
• Cap rate: 12.55%
• Cash-on-cash: 22.36%
• DSCR: 1.99
• GRM: 5.5

CMA / ARV

• ARV (median comp): $95,030
• List price: $50,000
• Delta: -47.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 W 22nd St	0.00mi	2/1.0 (+1)	816 (0%)	1mo	$50,000	$61	94
102 W 21st St	0.05mi	2/1.0 (+1)	800 (-2%)	11mo	$89,000	$111	80
208 W 24th St	0.21mi	1/1.0	780 (-4%)	10mo	$79,500	$102	74
509 E 24th St	0.50mi	2/1.0 (+1)	812 (-0%)	14mo	$50,000	$62	59
401 E 22 St	0.34mi	2/1.0 (+1)	888 (+9%)	7mo	$72,500	$82	59
211 E 22nd St	0.27mi	2/1.0 (+1)	896 (+10%)	13mo	$105,000	$117	56
124 W 10th St	0.71mi	2/1.0 (+1)	844 (+3%)	4mo	$78,500	$93	53
210 W 18th St	0.25mi	2/1.0 (+1)	924 (+13%)	10mo	$93,000	$101	53
424 E 21st St	0.40mi	2/1.0 (+1)	704 (-14%)	1mo	$46,000	$65	52
1503 N Joplin St	0.52mi	2/1.0 (+1)	912 (+12%)	8mo	$93,000	$102	44

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: 20.6%
• Equity multiple: 1.89×
• Total profit: $12,518
• Equity at exit: $7,455

10-year hold

• IRR: 32.0%
• Equity multiple: 4.61×
• Total profit: $50,531
• Equity at exit: $4,323

Cash invested: $14,000 (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: 142
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $757 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$54 /mo · $652/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$159
• Net cashflow: $261

Break-even live

Break-even rent $427

Max offer price $50,000

Occupancy floor 61%

Sensitivity live

Price	-10% $289	-5% $275	+0% $261	+5% $247	+10% $233
Rent	-10% $201	-5% $231	+0% $261	+5% $291	+10% $321
Rate	-1.0pp $286	-0.5pp $274	base $261	+0.5pp $248	+1.0pp $235

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
511 W 2nd St Pittsburg, KS	2.0	1.0	846	$850	$1.00	45d	1	1.36mi
101 S Elm St Pittsburg, KS	1.0	1.0	800	$600	$0.75	45d	1	1.40mi

Listing history 12 events

1. 2026-05-08
   status Pending 362-char remark

   Show marketing remark (362 chars)

   his 2-bedroom, 1-bath home offers plenty of opportunity for the right buyer. Featuring a bonus room that could serve as an office or hobby space, a separate laundry room, and a decent-sized kitchen, the layout provides flexibility and functionality. With some updates and vision, this property could make a great first home or an excellent investment. SOLD AS IS

2. 2026-05-03
   price $50,000 362-char remark

   Show marketing remark (362 chars)

   his 2-bedroom, 1-bath home offers plenty of opportunity for the right buyer. Featuring a bonus room that could serve as an office or hobby space, a separate laundry room, and a decent-sized kitchen, the layout provides flexibility and functionality. With some updates and vision, this property could make a great first home or an excellent investment. SOLD AS IS

3. 2026-04-10
   listed $60,000 Active 362-char remark

   Show marketing remark (362 chars)

   his 2-bedroom, 1-bath home offers plenty of opportunity for the right buyer. Featuring a bonus room that could serve as an office or hobby space, a separate laundry room, and a decent-sized kitchen, the layout provides flexibility and functionality. With some updates and vision, this property could make a great first home or an excellent investment. SOLD AS IS

4. 2026-02-28
   historical
5. 2025-09-03
   listed $65,000 Active
6. 2025-03-02
   historical $775
7. 2025-02-04
   listed $775
8. 2023-10-22
   historical $775
9. 2023-10-07
   listed $775
10. 2023-07-06
    soldstatus
11. 2017-08-31
    soldstatus
12. 1999-04-01
    soldstatus $20,800

ⓘ 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: $652 · $54/mo
• Projected year-2 tax: $705 · $59/mo
• Expected delta: +$53/yr (+$4/mo · 8.2%)

ⓘ 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: $9,086
• − Mortgage interest: −$2,801
• − Property taxes: −$652
• − Insurance: −$250
• − Repairs & maintenance: −$727
• − Management: −$727
• − Depreciation: −$1,455
• Taxable income: $2,475
• Est. tax owed @ 24.0%: −$594
• After-tax cash flow: $2,536/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

+140.4% since first listed

12 events — show timeline

• 2026-05-08 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-03 Price Changed $50,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-10 Listed $60,000 Heartland MLS as Distributed by MLS Grid
• 2026-02-28 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-09-03 Listed $65,000 Heartland MLS as Distributed by MLS Grid
• 2025-03-02 Rental Removed $775 APPFOLIO
• 2025-02-04 Listed for Rent $775 APPFOLIO
• 2023-10-22 Rental Removed $775 APPFOLIO
• 2023-10-07 Listed for Rent $775 APPFOLIO
• 2023-07-06 Sold (Public Records) — Public Records
• 2017-08-31 Sold (Public Records) — Public Records
• 1999-04-01 Sold (Public Records) $20,800 Public Records

Property tax history

+6.5%/yr

Latest (2025): $652 · +119.3% YoY. Source: county tax records.