2122 Madison St · Great Bend, KS 67530

$134,900

5 bd · 2.0 ba · 1,929 sqft · SingleFamily public records · 20 Days on market

Built 1947 8,276 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +4.6/10.0
• DSCR +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Key facts

• Natural light
• Hardwood floors
• Concrete driveway

Tags

• HARDWOOD FLOORS
• NATURAL LIGHT
• DEDICATED LAUNDRY AREA
• ATTACHED TWO CAR GARAGE
• CONCRETE DRIVEWAY
• DETACHED STORAGE SHED

Property features AI

Exterior

• Parking: Attached 2-car garage; Two parking spaces total
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Brick construction; Composition roof; Below-grade finished area (partial)
• Exterior features: Corner lot; Paved road access; Workshop and shed(s) on property

Interior

• Flooring: Laminate; Tile; Vinyl; Wood
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating; Central electric air conditioning
• Interior features: Gas water heater; Two fireplaces; Partial, partially finished basement
• Laundry & utility: Laundry on lower level

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $41 ($496/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 $130k (3.9% below list).
• Recommended offer: $130k (3.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#138 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Great Bend (town): math 25% / reading 30% proficiency, ranked #124 of 169 in KS (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Jefferson Elem (math 42% / reading 42%, grade F, #273 of 684 statewide, top 45%, 301 students, 49% FRL); Great Bend Middle School (math 19% / reading 27%, grade F, #125 of 219 statewide, top 59%, 460 students, 68% FRL); Great Bend High School (math 17% / reading 22%, grade F, #216 of 327 statewide, top 70%, 913 students, 58% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: 153 active listings in the ZIP; 19 units permitted in Barton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Barton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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.
• Current owner paid $66k; list at $135k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,670 (3.9% below list)

Questions for the listing agent

1. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.96% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.31%
• DSCR: 1.06
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.2%
• Equity multiple: 0.49×
• Total profit: $-19,177
• Equity at exit: $20,114

10-year hold

• IRR: -5.3%
• Equity multiple: 0.65×
• Total profit: $-13,105
• Equity at exit: $11,664

Cash invested: $37,772 (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 67530

• Active inventory: 153
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,297 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$219 /mo · $2,633/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $41

Break-even live

Break-even rent $1,244

Max offer price $134,900

Occupancy floor 92%

Sensitivity live

Price	-10% $118	-5% $79	+0% $41	+5% $3	+10% $-35
Rent	-10% $-61	-5% $-10	+0% $41	+5% $93	+10% $144
Rate	-1.0pp $109	-0.5pp $76	base $41	+0.5pp $6	+1.0pp $-29

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-22
   days on market $134,900 Active 20 DOM
2. 2026-06-21
   days on market $134,900 Active 19 DOM
3. 2026-06-21
   days on market $134,900 Active 18 DOM
4. 2026-06-18
   days on market $134,900 Active 16 DOM
5. 2026-06-17
   days on market $134,900 Active 15 DOM
6. 2026-06-16
   days on market $134,900 Active 14 DOM
7. 2026-06-15
   days on market $134,900 Active 13 DOM
8. 2026-06-13
   days on market $134,900 Active 11 DOM
9. 2026-06-12
   days on market $134,900 Active 10 DOM
10. 2026-06-09
    days on market $134,900 Active 7 DOM
11. 2026-06-08
    days on market $134,900 Active 6 DOM
12. 2026-06-07
    days on market $134,900 Active 5 DOM
13. 2026-06-05
    days on market $134,900 Active 3 DOM
14. 2026-06-03
    listed $134,900 Active 1 DOM

ⓘ 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: $2,633 · $219/mo
• Projected year-2 tax: $2,633 · $219/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 17 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: $15,560
• − Mortgage interest: −$7,556
• − Property taxes: −$2,633
• − Insurance: −$674
• − Repairs & maintenance: −$1,245
• − Management: −$1,245
• − Depreciation: −$3,924
• Taxable loss: −$1,718
• Est. tax savings @ 24.0%: +$412
• After-tax cash flow: $908/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: Great Bend
• NCES district ID: 2006660
• Math proficiency: 25% ▼ -7.00%
• Reading proficiency: 30% ▲ 1.00%
• Median HH income: $43,027
• Composite: 23.45/100
• National rank: #7883
• State rank: #124 of 169 in KS

Livability — Great Bend

• Score: 71/100
• State rank: #138
• US rank: #6794

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Great Bend, KS
• City population: 17,979
• Population (ZIP): 17,979

Population outlook (Barton County) Hauer SSP2

• Today (2025): 26,088 people
• By 2030: 25,418 · -2.6%
• By 2040: 24,010 · -8.0%
• By 2050: 22,719 · -12.9%
• By 2075: 20,690 · -20.7%
• By 2100: 18,869 · -27.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 21% Two or more races 14% Native American 1%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Italian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 88% English-only · Spanish 12%

Political lean MEDSL · Barton

• 2024 margin: Solid R (+56.8) · D 20.9% · R 77.6% · Other 1.5%
• 2008→2024 swing: -13.4pp toward R · 2008: -43.3pp · 2024: -56.8pp
• All cycles: 2024: R+56.8 2020: R+56.4 2016: R+58.9 2012: R+53.6 2008: R+43.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.50%
• Current HPI: 151.6054
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+104.4% since first listed

4 events — show timeline

• 2026-06-02 Listed $134,900 MKMLS as distributed by MLS GRID
• 2015-03-04 Listing Removed — SCKMLS as Distributed by MLS Grid
• 2014-09-04 Listed $145,500 SCKMLS as Distributed by MLS Grid
• 2008-05-01 Sold (Public Records) $66,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,633 · +0.9% YoY. Source: county tax records.