503 Elm St · Burden, KS 67019

$85,500

2 bd · 1.0 ba · 1,863 sqft · SingleFamily public records · 63 Days on market

Built 1900 0.32 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 +27.8/30.0
• DSCR +9.8/10.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Morton building
• Move in ready
• Dormer closet

Tags

• MOVE IN READY
• DORMER CLOSET
• LIGHTED DORMER STORAGE CLOSETS
• MORTON BUILDING
• LARGE WORKSHOP AREA
• COVERED PORCH SPACE

Property features AI

Exterior

• Parking: 2-car garage; RV access/parking
• Utilities: Public water; Sewer available; Natural gas available
• Home design: Single-family onsite-built home; One-and-a-half story
• Construction: Metal roof; Crawl space foundation
• Exterior features: Covered porch; Exterior storage structure; Storm doors and storm windows

Interior

• Kitchen: Dishwasher not listed; appliances include disposal, microwave, refrigerator
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air (electric); Forced air heating (natural gas)
• Interior features: Disposal, microwave, and refrigerator included; Main-floor laundry in a separate room with 220V equipment
• Laundry & utility: Laundry on the main floor in a separate room with 220V hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $86k.

Deal economics

• At list price, monthly cash flow is $260 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#288 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.
• Central (rural): math 25% / reading 30% proficiency, ranked #199 of 280 in KS (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Central Elem (math 32% / reading 42%, grade F, #358 of 684 statewide, top 56%, 157 students, 57% FRL); Central Jr-Sr High (math 17% / reading 17%, grade F, #235 of 327 statewide, top 74%, 136 students, 63% FRL) — zoned schools average 60% FRL vs 45% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 5 active listings in the ZIP; 41 units permitted in Cowley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($591 loan paydown + $5k appreciation (6.3% local appreciation)).
• Cowley County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $14k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $86k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,370 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.23% ✓
• Cap rate: 9.94%
• Cash-on-cash: 13.04%
• DSCR: 1.58
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.29% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.8%
• Equity multiple: 2.79×
• Total profit: $42,734
• Equity at exit: $55,317

10-year hold

• IRR: 24.9%
• Equity multiple: 5.69×
• Total profit: $112,367
• Equity at exit: $101,697

Cash invested: $23,940 (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 67019

• Home prices YoY: 2.6%
• Active inventory: 5
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,053 medium
• Mortgage (P&I): −$448
• Tax from tax record: −$88 /mo · $1,056/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $260

Break-even live

Break-even rent $724

Max offer price $85,500

Occupancy floor 70%

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: $21,375
• Closing costs: $2,565
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $85,500 Active 63 DOM
2. 2026-06-17
   days on market $85,500 Active 62 DOM
3. 2026-06-16
   days on market $85,500 Active 61 DOM
4. 2026-06-15
   days on market $85,500 Active 60 DOM
5. 2026-06-13
   days on market $85,500 Active 58 DOM
6. 2026-06-12
   days on market $85,500 Active 57 DOM
7. 2026-06-09
   days on market $85,500 Active 54 DOM
8. 2026-06-08
   days on market $85,500 Active 53 DOM
9. 2026-06-07
   days on market $85,500 Active 52 DOM
10. 2026-06-05
    days on market $85,500 Active 50 DOM
11. 2026-06-04
    days on market $85,500 Active 48 DOM
12. 2026-06-02
    days on market $85,500 Active 47 DOM
13. 2026-06-01
    days on market $85,500 Active 46 DOM
14. 2026-05-31
    days on market $85,500 Active 45 DOM
15. 2026-05-31
    days on market $85,500 Active 44 DOM
16. 2026-05-11
    price $85,500
17. 2026-04-27
    price $96,500
18. 2026-04-16
    listed $99,500 Active
19. 2024-08-02
    historical
20. 2024-05-01
    listed $98,000 Active
21. 2019-11-20
    listed $45,900
22. 2019-07-22
    historical
23. 2019-02-19
    listed $87,400
24. 2015-07-11
    historical
25. 2014-12-09
    listed $99,000
26. 2003-10-01
    soldstatus $40,000
27. 1998-04-01
    soldstatus $40,000

ⓘ 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: $1,056 · $88/mo
• Projected year-2 tax: $1,206 · $100/mo
• Expected delta: +$150/yr (+$12/mo · 14.2%)

ⓘ 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 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,640
• − Mortgage interest: −$4,789
• − Property taxes: −$1,056
• − Insurance: −$428
• − Repairs & maintenance: −$1,011
• − Management: −$1,011
• − Depreciation: −$2,487
• Taxable income: $1,858
• Est. tax owed @ 24.0%: −$446
• After-tax cash flow: $2,676/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: Central
• NCES district ID: 2004230
• Math proficiency: 25% ▬ 0.00%
• Reading proficiency: 30% ▬ 0.00%
• Median HH income: $44,136
• Composite: 26.5/100
• National rank: #12630
• State rank: #199 of 280 in KS

Livability — Burden

• Score: 65/100
• State rank: #288
• US rank: #12882

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burden, KS
• Population (ZIP): 962

Population outlook (Cowley County) Hauer SSP2

• Today (2025): 34,984 people
• By 2030: 34,410 · -1.6%
• By 2040: 33,265 · -4.9%
• By 2050: 32,421 · -7.3%
• By 2075: 31,488 · -10.0%
• By 2100: 30,276 · -13.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6% Hispanic / Latino 1%
• Common ancestry: Slovak 3% Iranian 2% Lithuanian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Cowley

• 2024 margin: Solid R (+40.3) · D 29.0% · R 69.3% · Other 1.7%
• 2008→2024 swing: -15.1pp toward R · 2008: -25.2pp · 2024: -40.3pp
• All cycles: 2024: R+40.3 2020: R+37.9 2016: R+37.6 2012: R+29.8 2008: R+25.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.29%
• Current HPI: 249.899
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+113.8% since first listed

12 events — show timeline

• 2026-05-11 Price Changed $85,500 SCKMLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $96,500 SCKMLS as Distributed by MLS Grid
• 2026-04-16 Listed $99,500 SCKMLS as Distributed by MLS Grid
• 2024-08-02 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2024-05-01 Listed $98,000 SCKMLS as Distributed by MLS Grid
• 2019-11-20 Listed $45,900 SCKMLS as Distributed by MLS Grid
• 2019-07-22 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2019-02-19 Listed $87,400 SCKMLS as Distributed by MLS Grid
• 2015-07-11 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2014-12-09 Listed $99,000 SCKMLS as Distributed by MLS Grid
• 2003-10-01 Sold (Public Records) $40,000 Public Records
• 1998-04-01 Sold (Public Records) $40,000 Public Records