1011 1st St · Cherryvale, KS 67335

$39,900

2 bd · 1.0 ba · 1,420 sqft · SingleFamily public records · 3 Days on market

Built 1900 0.54 ac lot

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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 +7.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Key facts

• 0.54 acre lot
• 2 garage spots
• Built 1900

Property features AI

Finance

• Other: Not in a flood plain
• HOA & community: No association fees

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property; One-story bungalow
• Construction: Frame construction; Composition roof; Approximately 101+ years old
• Exterior features: City lot; Lot roughly 116.7 x 200 feet

Interior

• Kitchen: Gas range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bath
• Heating & cooling: Natural gas heating; Wall furnace; Window air conditioning units
• Interior features: Bungalow floor plan; Crawl space basement
• Laundry & utility: Washer; Dryer; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $574 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).

Location & tenants

• Location reads 68/100 on livability (#214 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, schools F, amenities F.
• Cherryvale (rural): math 24% / reading 35% proficiency, ranked #108 of 169 in KS (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 16 active listings in the ZIP; 10 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($276 loan paydown + $2k appreciation (4.3% local appreciation)).
• Montgomery County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,900

Questions for the listing agent

1. Built in 1900 — 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. Crime grade is D 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: 2.62% ✓
• Cap rate: 23.57%
• Cash-on-cash: 61.70%
• DSCR: 3.75
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $105,080
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
904 W 4th St	0.26mi	3/2.0 (+1)	1,293 (-9%)	6mo	$160,000	$124	59
409 S May St	0.48mi	3/2.0 (+1)	1,362 (-4%)	4mo	$120,000	$88	58
415 W 2nd St	0.56mi	3/2.0 (+1)	1,399 (-2%)	8mo	$69,000	$49	56
413 W 2nd St	0.53mi	2/1.0	1,480 (+4%)	21mo	$50,000	$34	50
638 W 3rd St	0.32mi	3/2.0 (+1)	1,554 (+9%)	15mo	$115,000	$74	48
520 Park St	0.56mi	3/1.0 (+1)	1,260 (-11%)	5mo	$95,000	$75	46
510 W Walnut St Unit S	0.61mi	3/2.0 (+1)	1,293 (-9%)	7mo	$160,000	$124	42
405 May St	0.46mi	3/2.0 (+1)	1,334 (-6%)	21mo	$120,000	$90	42
120 N Liberty St	0.58mi	3/2.0 (+1)	1,468 (+3%)	22mo	$60,000	$41	40
524 W 2nd St	0.44mi	3/2.0 (+1)	1,632 (+15%)	8mo	$109,000	$67	38
320 N Liberty St	0.55mi	3/1.0 (+1)	1,216 (-14%)	13mo	$52,000	$43	34

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

Projected returns pro-forma

4.31% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 67.8%
• Equity multiple: 4.96×
• Total profit: $44,237
• Equity at exit: $20,967

10-year hold

• IRR: 66.3%
• Equity multiple: 10.21×
• Total profit: $102,900
• Equity at exit: $34,894

Cash invested: $11,172 (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 67335

• Home prices YoY: 3.5%
• Active inventory: 16
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,047 medium
• Mortgage (P&I): −$209
• Tax from tax record: −$27 /mo · $319/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $574

Break-even live

Break-even rent $320

Max offer price $39,900

Occupancy floor 40%

Sensitivity live

Price	-10% $597	-5% $586	+0% $574	+5% $563	+10% $552
Rent	-10% $492	-5% $533	+0% $574	+5% $616	+10% $657
Rate	-1.0pp $595	-0.5pp $585	base $574	+0.5pp $564	+1.0pp $554

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-21
   days on market $39,900 Active 3 DOM
2. 2026-06-18
   listed $39,900 Active 1 DOM

ⓘ 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: $319 · $27/mo
• Projected year-2 tax: $563 · $47/mo
• Expected delta: +$244/yr (+$20/mo · 76.6%)

ⓘ 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 7/10 Severe
• 🌡 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,559
• − Mortgage interest: −$2,235
• − Property taxes: −$319
• − Insurance: −$200
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − Depreciation: −$1,161
• Taxable income: $6,636
• Est. tax owed @ 24.0%: −$1,593
• After-tax cash flow: $5,300/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: Cherryvale
• NCES district ID: 2004740
• Math proficiency: 24% ▲ 1.00%
• Reading proficiency: 35% ▲ 6.00%
• Median HH income: $43,161
• Composite: 25.1/100
• National rank: #7531
• State rank: #108 of 169 in KS

Livability — Cherryvale

• Score: 68/100
• State rank: #214
• US rank: #9510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cherryvale, KS
• Population (ZIP): 3,300

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 29,729 people
• By 2030: 27,786 · -6.5%
• By 2040: 24,201 · -18.6%
• By 2050: 21,280 · -28.4%
• By 2075: 16,754 · -43.6%
• By 2100: 14,088 · -52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2% Native American 1%
• Common ancestry: Slovak 2% Iranian 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Arabic 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+51.1) · D 23.6% · R 74.7% · Other 1.8%
• 2008→2024 swing: -15.3pp toward R · 2008: -35.8pp · 2024: -51.1pp
• All cycles: 2024: R+51.1 2020: R+50.2 2016: R+50.8 2012: R+41.4 2008: R+35.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.31%
• Current HPI: 128.0231
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-06-17 Listed $39,900 Heartland MLS as Distributed by MLS Grid
• 2018-12-26 Sold (Public Records) — Public Records

Property tax history

-3.7%/yr

Latest (2025): $319 · +2.0% YoY. Source: county tax records.