412 Main St · Bison, KS 67520

$124,900

3 bd · 1.5 ba · 10,812 sqft · SingleFamily · 178 Days on market

Built 1920 0.79 ac lot

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Why this score? — see what drove the C- 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 +18.2/30.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• DSCR +5.7/10.0
• 1% rule +4.9/10.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Dedicated craft room
• Two large kitchens
• 0.79 acre lot

Tags

• TWO LARGE KITCHENS
• PRIME 3 4 ACRE CORNER LOT
• DEDICATED CRAFT ROOM

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential property
• Construction: Brick construction
• Exterior features: Lot roughly 137 x 250 (0.78 acre); Zoned NC.1 / R-1

Interior

• Kitchen: Range; Oven; Microwave; Refrigerator
• Bedrooms: 3 main level bedrooms
• Heating & cooling: Hot water heating; Window unit cooling
• Interior features: Window coverings; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $111 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (1.3% below list).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#486 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, schools F.
• Otis-Bison (rural): math 25% / reading 30% proficiency, ranked #200 of 280 in KS (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 2 active listings in the ZIP; 1 units permitted in Rush County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($864 loan paydown + $3k appreciation (2.7% local appreciation)).
• Rush County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 0.99% ✗
• Cap rate: 7.36%
• Cash-on-cash: 3.81%
• DSCR: 1.17
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.58×
• Total profit: $20,280
• Equity at exit: $54,183

10-year hold

• IRR: 12.8%
• Equity multiple: 2.85×
• Total profit: $64,664
• Equity at exit: $81,996

Cash invested: $34,972 (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 67520

• Home prices YoY: 1.3%
• Active inventory: 2
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,233 medium
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $111

Break-even live

Break-even rent $1,093

Max offer price $124,900

Occupancy floor 86%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-07
   status $124,900 Pending 178 DOM
2. 2026-06-05
   days on market $124,900 Active 178 DOM
3. 2026-06-03
   days on market $124,900 Active 176 DOM
4. 2026-06-02
   days on market $124,900 Active 175 DOM
5. 2026-06-01
   days on market $124,900 Active 174 DOM
6. 2026-05-31
   days on market $124,900 Active 173 DOM
7. 2026-05-30
   days on market $124,900 Active 172 DOM
8. 2025-12-09
   listed $124,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 16 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: $14,799
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$624
• − Repairs & maintenance: −$1,184
• − Management: −$1,184
• − Depreciation: −$3,633
• Taxable loss: −$697
• Est. tax savings @ 24.0%: +$167
• After-tax cash flow: $1,500/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: Otis-Bison
• NCES district ID: 2004020
• Math proficiency: 25% ▬ 0.00%
• Reading proficiency: 30% ▼ -5.00%
• Median HH income: $43,813
• Composite: 26.47/100
• National rank: #12636
• State rank: #200 of 280 in KS

Livability — Bison

• Score: 59/100
• State rank: #486
• US rank: #20473

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bison, KS
• Population (ZIP): 335

Population outlook (Rush County) Hauer SSP2

• Today (2025): 2,979 people
• By 2030: 2,889 · -3.0%
• By 2040: 2,706 · -9.2%
• By 2050: 2,568 · -13.8%
• By 2075: 2,417 · -18.9%
• By 2100: 2,127 · -28.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 12% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Scotch-Irish 16% Serbian 3% Italian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Rush

• 2024 margin: Solid R (+65.4) · D 16.4% · R 81.9% · Other 1.7%
• 2008→2024 swing: -25.0pp toward R · 2008: -40.5pp · 2024: -65.4pp
• All cycles: 2024: R+65.4 2020: R+64.9 2016: R+64.5 2012: R+51.0 2008: R+40.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.72%
• Current HPI: 206.4668
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2025-12-09 Listed $124,900 Hays MLS