402 N Springlake St · Meade, KS 67864

$59,000

3 bd · 1.0 ba · 3,126 sqft · SingleFamily public records · 106 Days on market

Built 1900 0.48 ac lot ↓ 9% since listing

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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 +4.6/10.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Close to schools
• Spacious lot
• Close to shopping

Tags

• HISTORIC HOME
• UPPER LEVEL BALLROOM
• SPACIOUS LOT
• REDEVELOPMENT POTENTIAL
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electricity connected
• Home design: Single-family residence; One-and-a-half story
• Construction: Frame construction with shake siding; Asphalt roof; Concrete perimeter foundation; Built on a 0.479-acre lot
• Exterior features: Covered porch/patio

Interior

• Flooring: Carpet; Hardwood
• Bathrooms: Three 3/4 bathrooms
• Heating & cooling: Has heating (other); No central cooling
• Interior features: Wood-framed windows; Wood-burning fireplace (1)
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $558 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $54k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#76 in KS, #4,403 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Meade (rural): math 35% / reading 40% proficiency, ranked #88 of 280 in KS (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 5 units permitted in Meade County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.8%/yr); year-one equity from $408 of loan paydown is wiped out by about $482 of value loss. Plan a longer hold.
• Meade County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.8% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($54k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $53,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 1.95% ✓
• Cap rate: 17.64%
• Cash-on-cash: 40.51%
• DSCR: 2.80
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.3%
• Equity multiple: 2.91×
• Total profit: $31,553
• Equity at exit: $14,761

10-year hold

• IRR: 44.2%
• Equity multiple: 5.75×
• Total profit: $78,466
• Equity at exit: $15,947

Cash invested: $16,520 (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 67864

• Home prices YoY: -0.5%
• Active inventory: 14
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,153 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$19 /mo · $227/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $558

Break-even live

Break-even rent $447

Max offer price $59,000

Occupancy floor 47%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $59,000 Active 106 DOM
2. 2026-06-17
   days on market $59,000 Active 105 DOM
3. 2026-06-16
   days on market $59,000 Active 104 DOM
4. 2026-06-15
   days on market $59,000 Active 103 DOM
5. 2026-06-13
   days on market $59,000 Active 101 DOM
6. 2026-06-12
   days on market $59,000 Active 100 DOM
7. 2026-06-09
   days on market $59,000 Active 97 DOM
8. 2026-06-08
   days on market $59,000 Active 96 DOM
9. 2026-06-07
   days on market $59,000 Active 95 DOM
10. 2026-06-05
    days on market $59,000 Active 93 DOM
11. 2026-06-04
    days on market $59,000 Active 91 DOM
12. 2026-06-02
    days on market $59,000 Active 90 DOM
13. 2026-06-01
    price $59,000 Active 89 DOM
14. 2026-06-01
    days on market $63,000 Active 89 DOM
15. 2026-05-31
    days on market $63,000 Active 88 DOM
16. 2026-05-31
    days on market $63,000 Active 87 DOM
17. 2026-04-17
    price $63,000
18. 2026-03-03
    listed $69,000 Active

ⓘ 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: $227 · $19/mo
• Projected year-2 tax: $832 · $69/mo
• Expected delta: +$605/yr (+$50/mo · 265.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 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: $13,833
• − Mortgage interest: −$3,305
• − Property taxes: −$227
• − Insurance: −$295
• − Repairs & maintenance: −$1,107
• − Management: −$1,107
• − Depreciation: −$1,716
• Taxable income: $6,076
• Est. tax owed @ 24.0%: −$1,458
• After-tax cash flow: $5,235/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: Meade
• NCES district ID: 2009420
• Math proficiency: 35% ▲ 5.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $52,136
• Composite: 35.14/100
• National rank: #9887
• State rank: #88 of 280 in KS

Livability — Meade

• Score: 74/100
• State rank: #76
• US rank: #4403

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Meade, KS
• Population (ZIP): 1,701

Population outlook (Meade County) Hauer SSP2

• Today (2025): 3,775 people
• By 2030: 3,511 · -7.0%
• By 2040: 2,980 · -21.1%
• By 2050: 2,460 · -34.8%
• By 2075: 1,685 · -55.4%
• By 2100: 1,235 · -67.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Iranian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · Meade

• 2024 margin: Solid R (+69.6) · D 14.6% · R 84.2% · Other 1.2%
• 2008→2024 swing: -8.4pp toward R · 2008: -61.3pp · 2024: -69.6pp
• All cycles: 2024: R+69.6 2020: R+69.0 2016: R+70.7 2012: R+69.2 2008: R+61.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.82%
• Current HPI: 177.3355
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-8.7% since first listed

2 events — show timeline

• 2026-04-17 Price Changed $63,000 GardenMLS
• 2026-03-03 Listed $69,000 GardenMLS

Property tax history

+3.2%/yr

Latest (2025): $227 · -1.9% YoY. Source: county tax records.