811 E 3rd St St

Kinsley, KS 67547

$98,000C

3 bd · 1.5 ba · 1,169 sqft · Built 1969 · SingleFamily · Active · 258 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,004/mo
• Mortgage (P&I): −$514
• Tax + insurance: −$163
• HOA: −$0
• Vac / Maint / Mgmt: −$211
• Net cashflow: $116/mo
• Annual: $1,395/yr
• Cap rate: 7.72%
• Cash-on-cash: 5.08%
• DSCR: 1.23
• 1% rule: 1.02%
• Cash to close: $27,440

Investor read

• This is a 3-bed/1.5-bath single-family listed at $98k.
• At list price, monthly cash flow is $116 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• It's been on market 258 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($678 loan paydown + $2k appreciation (1.7% local appreciation)).
• Location reads 69/100 on livability (#183 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools F, amenities F, commute F.
• Kinsley-Offerle (rural): math 30% / reading 30% proficiency, ranked #172 of 280 in KS (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 20 active listings in the ZIP.
• Edwards County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $46k; list at $98k implies a 114% gain — meaningful room to come down on a strong offer.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 258 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.