208 S Chestnut St

Minneola, KS 67865

$15,000D+

2 bd · 1.0 ba · 868 sqft · Built 1920 · SingleFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $856/mo
• Mortgage (P&I): −$79
• Tax + insurance: −$25
• HOA: −$0
• Vac / Maint / Mgmt: −$180
• Net cashflow: $573/mo
• Annual: $6,872/yr
• Cap rate: 52.10%
• Cash-on-cash: 163.61%
• DSCR: 8.28
• 1% rule: 5.71%
• Cash to close: $4,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $15k.
• At list price, monthly cash flow is $573 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($856 rent vs $15k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $171 of equity ($104 loan paydown + $67 appreciation (0.4% local appreciation)).
• Location reads 68/100 on livability (#215 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, crime F, amenities F.
• Minneola (rural): math 40% / reading 40% proficiency, ranked #69 of 280 in KS (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP.
• Clark County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $8k; list at $15k implies a 88% gain — meaningful room to come down on a strong offer.
• At projected returns (0.4% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.
• 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.

Questions for listing agent

• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.