207 N Maple St

Damar, KS 67632

$85,000B

4 bd · 1.0 ba · 1,316 sqft · Built 1920 · SingleFamily · Pending · 370 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,130/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$142
• HOA: −$0
• Vac / Maint / Mgmt: −$237
• Net cashflow: $305/mo
• Annual: $3,659/yr
• Cap rate: 10.60%
• Cash-on-cash: 15.37%
• DSCR: 1.68
• 1% rule: 1.33%
• Cash to close: $23,800

Investor read

• This is a 4-bed/1.0-bath single-family listed at $85k.
• At list price, monthly cash flow is $305 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 370 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($588 loan paydown + $4k appreciation (4.7% local appreciation)).
• Location reads 56/100 on livability (#546 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, health & safety C-, crime F.
• Palco (rural): math 20% / reading 30% proficiency, ranked #232 of 280 in KS (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Damar Elementary School (math 30% / reading 75%, grade C-, #128 of 684 statewide, top 19%, 53 students, 55% FRL); Palco Jr. High (math 24% / reading 75%, 14 students, 57% FRL); Palco High (math 24% / reading 24%, grade F, #105 of 327 statewide, top 49%, 30 students, 50% FRL) — zoned schools average 54% FRL vs 33% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 42% at this address vs 25% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Palco average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 3 units permitted in Rooks County in 2024 (0 in 5+ unit buildings).
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (4.7% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→17/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 370 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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 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?
• 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.