109 Carrie St St · Gorham, KS 67640

$165,000

6 bd · 2.0 ba · 2,475 sqft · SingleFamily public records · 363 Days on market

Built 1982 9,120 sqft lot

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Why this score? — see what drove the D 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 +9.7/30.0
• Appreciation +8.6/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• 1% rule +2.9/10.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Key facts

• All-brick duplex
• Off-street parking
• Shared deck

Tags

• ALL-BRICK DUPLEX
• SHARED DECK
• OFF-STREET PARKING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential property; Zoned NC.1 / R-1
• Construction: Brick construction
• Exterior features: Deck; Patio; Composition roof

Interior

• Kitchen: Disposal
• Bedrooms: 12 total rooms (bedrooms and other rooms included)
• Heating & cooling: Central air; Has cooling
• Interior features: Eat-in kitchen; Full basement

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-109 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (9.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (20.8% below list).
• Recommended offer: $131k (20.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#344 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime F.
• Russell County (town): math 22% / reading 26% proficiency, ranked #144 of 169 in KS (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bickerdyke Elem (math 34% / reading 37%, grade F, #386 of 684 statewide, top 56%, 228 students, 55% FRL); Ruppenthal Middle (math 12% / reading 17%, grade F, #180 of 219 statewide, top 83%, 186 students, 59% FRL); Russell High (math 15% / reading 15%, grade F, #249 of 327 statewide, top 79%, 207 students, 55% FRL) — zoned schools average 56% FRL vs 41% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 3 active listings in the ZIP; 6 units permitted in Russell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (7.2% local appreciation)).
• Russell County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, 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 363 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $165k implies a 633% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,601 (20.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 363 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
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 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.79% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.82%
• DSCR: 0.87
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 2.14×
• Total profit: $52,740
• Equity at exit: $116,484

10-year hold

• IRR: 15.7%
• Equity multiple: 4.43×
• Total profit: $158,328
• Equity at exit: $223,237

Cash invested: $46,200 (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 67640

• Home prices YoY: 3.5%
• Active inventory: 3
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,306 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $-109

Break-even live

Break-even rent $1,443

Max offer price $149,296

Occupancy floor —

Sensitivity live

Price	-10% $5	-5% $-52	+0% $-109	+5% $-166	+10% $-223
Rent	-10% $-212	-5% $-160	+0% $-109	+5% $-57	+10% $-5
Rate	-1.0pp $-25	-0.5pp $-67	base $-109	+0.5pp $-151	+1.0pp $-195

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2025-05-26
   listed $165,000 Active
2. 2024-03-12
   price $165,000
3. 1993-11-01
   soldstatus $22,500

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°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: $15,672
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,254
• − Management: −$1,254
• − Depreciation: −$4,800
• Taxable loss: −$4,178
• Est. tax savings @ 24.0%: +$1,003
• After-tax cash flow: $-300/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: Russell County
• NCES district ID: 2011310
• Math proficiency: 22% ▲ 1.00%
• Reading proficiency: 26% ▲ 2.00%
• Median HH income: $41,397
• Composite: 20.4/100
• National rank: #8591
• State rank: #144 of 169 in KS

Livability — Gorham

• Score: 63/100
• State rank: #344
• US rank: #15425

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gorham, KS
• Population (ZIP): 532

Population outlook (Russell County) Hauer SSP2

• Today (2025): 7,010 people
• By 2030: 7,035 · +0.4%
• By 2040: 7,181 · +2.4%
• By 2050: 7,290 · +4.0%
• By 2075: 8,229 · +17.4%
• By 2100: 8,868 · +26.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Scotch-Irish 2% Norwegian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Russell

• 2024 margin: Solid R (+61.3) · D 18.4% · R 79.7% · Other 1.9%
• 2008→2024 swing: -7.5pp toward R · 2008: -53.8pp · 2024: -61.3pp
• All cycles: 2024: R+61.3 2020: R+63.4 2016: R+66.4 2012: R+61.2 2008: R+53.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.20%
• Current HPI: 211.3188
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+633.3% since first listed

3 events — show timeline

• 2025-05-26 Listed $165,000 Hays MLS
• 2024-03-12 Price Changed $165,000 Hays MLS
• 1993-11-01 Sold (Public Records) $22,500 Public Records