428 E 5th Ave · Garnett, KS 66032

$85,000

3 bd · 1.0 ba · 1,586 sqft · SingleFamily public records · 36 Days on market

Built 1973 0.65 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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.4/10.0

Key facts

• Newer electric panel
• Newer flooring
• Large front porch

Tags

• NEWER FLOORING
• NEWER PLUMBING
• NEWER ELECTRIC PANEL
• NEWER METAL ROOF
• HUGE LAUNDRY ROOM
• LARGE FRONT PORCH

Property features AI

Finance

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

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Bungalow style; Living area approximately 1,586 above-grade
• Construction: Metal siding; Composition roof; Crawl space foundation; Home built approximately 51–75 years ago
• Exterior features: Front porch; Shed(s); City lot

Interior

• Kitchen: Dishwasher; Vinyl flooring in kitchen
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet in living, dining and bedrooms; Vinyl in kitchen, laundry and bathroom
• Bathrooms: 1 full bathroom with shower (main level)
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: Ceiling fans; Enclosed porch; Bungalow floor plan
• Laundry & utility: Dedicated laundry room with vinyl flooring (main level)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 2.9% in Garnett — 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 70/100 on livability (#154 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Garnett (rural): math 34% / reading 32% proficiency, ranked #85 of 169 in KS (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Garnett Elementary School (math 38% / reading 43%, grade F, #309 of 684 statewide, top 45%, 433 students, 63% FRL); Anderson County Jr/Sr High School (math 32% / reading 22%, grade F, #85 of 327 statewide, top 29%, 426 students, 47% FRL) — zoned schools average 55% FRL vs 37% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 33 active listings in the ZIP; 23 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Anderson County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $85k implies a 183% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.33% ✓
• Cap rate: 11.35%
• Cash-on-cash: 18.07%
• DSCR: 1.80
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $222,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 E 6th Ave	0.07mi	3/2.0	1,480 (-7%)	2mo	$225,000	$152	80
505 E 2nd Ave	0.27mi	3/1.0	1,533 (-3%)	7mo	$169,000	$110	76
532 E 2nd Ave	0.26mi	3/2.0	1,608 (+1%)	10mo	$175,000	$109	74
623 E Monroe Ave	0.53mi	3/1.0	1,553 (-2%)	10mo	$197,000	$127	64
618 E 7th Ave	0.23mi	2/2.0 (-1)	1,737 (+10%)	3mo	$110,000	$63	62
315 Spruce St	0.48mi	3/2.5	1,568 (-1%)	11mo	$219,000	$140	61
505 N Pine St	0.62mi	3/2.0	1,612 (+2%)	8mo	$228,000	$141	57
200 N Cedar St	0.40mi	2/3.0 (-1)	1,664 (+5%)	5mo	$270,000	$162	56
510 N Cedar St	0.57mi	4/2.0 (+1)	1,680 (+6%)	1mo	$228,000	$136	54
227 W 2nd St	0.63mi	3/2.5	1,729 (+9%)	1mo	$274,750	$159	49
315 E Monroe Ave	0.47mi	3/1.5	1,768 (+12%)	11mo	$150,000	$85	48
424 N Cedar St	0.52mi	3/2.0	1,822 (+15%)	2mo	$284,500	$156	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.6%
• Equity multiple: 1.38×
• Total profit: $9,036
• Equity at exit: $12,674

10-year hold

• IRR: 18.8%
• Equity multiple: 2.56×
• Total profit: $37,202
• Equity at exit: $7,349

Cash invested: $23,800 (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 66032

• Home prices YoY: -2.6%
• Active inventory: 33
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,134 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$57 /mo · $678/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $358

Break-even live

Break-even rent $681

Max offer price $85,000

Occupancy floor 63%

Sensitivity live

Price	-10% $406	-5% $382	+0% $358	+5% $334	+10% $310
Rent	-10% $269	-5% $314	+0% $358	+5% $403	+10% $448
Rate	-1.0pp $401	-0.5pp $380	base $358	+0.5pp $336	+1.0pp $314

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $85,000 Active Under Contract 36 DOM
2. 2026-06-21
   statusdays on market $85,000 Active Under Contract 35 DOM
3. 2026-06-18
   days on market $85,000 Active 33 DOM
4. 2026-06-17
   days on market $85,000 Active 32 DOM
5. 2026-06-16
   days on market $85,000 Active 31 DOM
6. 2026-06-15
   days on market $85,000 Active 30 DOM
7. 2026-06-14
   price $85,000 Active 28 DOM
8. 2026-06-13
   days on market $90,000 Active 28 DOM
9. 2026-06-12
   days on market $90,000 Active 27 DOM
10. 2026-06-09
    days on market $90,000 Active 24 DOM
11. 2026-06-08
    days on market $90,000 Active 23 DOM
12. 2026-06-07
    days on market $90,000 Active 22 DOM
13. 2026-06-05
    days on market $90,000 Active 20 DOM
14. 2026-06-04
    days on market $90,000 Active 18 DOM
15. 2026-06-02
    days on market $90,000 Active 17 DOM
16. 2026-06-01
    days on market $90,000 Active 16 DOM
17. 2026-05-31
    days on market $90,000 Active 15 DOM
18. 2026-05-31
    days on market $90,000 Active 14 DOM
19. 2026-05-16
    listed $90,000 Active
20. 2008-04-01
    soldstatus $30,000

ⓘ 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: $678 · $57/mo
• Projected year-2 tax: $1,198 · $100/mo
• Expected delta: +$520/yr (+$43/mo · 76.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥109°F today · 18 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: $13,611
• − Mortgage interest: −$4,761
• − Property taxes: −$678
• − Insurance: −$425
• − Repairs & maintenance: −$1,089
• − Management: −$1,089
• − Depreciation: −$2,473
• Taxable income: $3,096
• Est. tax owed @ 24.0%: −$743
• After-tax cash flow: $3,557/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: Garnett
• NCES district ID: 2006450
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 32% ▼ -6.00%
• Median HH income: $41,150
• Composite: 27.86/100
• National rank: #6876
• State rank: #85 of 169 in KS

Livability — Garnett

• Score: 70/100
• State rank: #154
• US rank: #7405

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garnett, KS
• Population (ZIP): 5,133

Population outlook (Anderson County) Hauer SSP2

• Today (2025): 7,231 people
• By 2030: 6,890 · -4.7%
• By 2040: 6,171 · -14.7%
• By 2050: 5,446 · -24.7%
• By 2075: 4,078 · -43.6%
• By 2100: 2,817 · -61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 8% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Polish 2% Serbian 1%
• Languages at home: 91% English-only · German/W. Germanic 7% Spanish 1%

Political lean MEDSL · Anderson

• 2024 margin: Solid R (+59.8) · D 19.3% · R 79.1% · Other 1.6%
• 2008→2024 swing: -27.0pp toward R · 2008: -32.7pp · 2024: -59.8pp
• All cycles: 2024: R+59.8 2020: R+56.7 2016: R+52.5 2012: R+40.0 2008: R+32.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.17%
• Current HPI: 272.75
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+200.0% since first listed

2 events — show timeline

• 2026-05-16 Listed $90,000 Heartland MLS as Distributed by MLS Grid
• 2008-04-01 Sold (Public Records) $30,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $678 · +3.1% YoY. Source: county tax records.