205 W Market St · McFarland, KS 66501

$75,000

3 bd · 1.0 ba · 1,404 sqft · SingleFamily public records · 35 Days on market

Built 1910 0.32 ac lot

---

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 +5.0/10.0
• Schools +3.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Home has been remodeled and ready for new owners. This 3 bedroom, 1 bath, appliances stay, doggy door has a automatic door. You will enjoy the large room sizes, modern kitchen, partially fenced yard, all on 4 lots 100 x 140. New stove and new carpet. Easy commute to Manhattan, Junction City, and Topeka Shop 42 x 35 with lift to the west is also for sale for an additional price

Key facts

• Large lot
• Separate carport
• Vehicle shed

Tags

• LARGE LOT
• VEHICLE SHED
• SEPARATE CARPORT
• QUIET COMMUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#370 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D+, crime F, amenities F.
• Wabaunsee (rural): math 43% / reading 41% proficiency, ranked #42 of 280 in KS (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Alma Elementary School (math 34% / reading 44%, grade F, #321 of 684 statewide, top 52%, 122 students, 26% FRL); Wabaunsee Sr High (math 34% / reading 15%, grade F, #101 of 327 statewide, top 32%, 131 students, 24% FRL) — zoned schools at 25% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 30 units permitted in Wabaunsee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($519 loan paydown + $2k appreciation (3.0% local appreciation)).
• Wabaunsee County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $21k; list at $75k implies a 257% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.61% ✓
• Cap rate: 13.23%
• Cash-on-cash: 24.78%
• DSCR: 2.10
• GRM: 5.2

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: 30.9%
• Equity multiple: 2.75×
• Total profit: $36,673
• Equity at exit: $33,723

10-year hold

• IRR: 31.2%
• Equity multiple: 5.38×
• Total profit: $91,882
• Equity at exit: $51,972

Cash invested: $21,000 (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 66501

• Active inventory: 1
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,205 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $434

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 59%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-13
   status Pending
2. 2026-03-09
   listed $75,000 Active
3. 2020-10-27
   soldstatus
4. 2020-10-26
   soldstatus 379-char remark

   Show marketing remark (379 chars)

   Home has been remodeled and ready for new owners. This 3 bedroom, 1 bath, appliances stay, doggy door has a automatic door. You will enjoy the large room sizes, modern kitchen, partially fenced yard, all on 4 lots 100 x 140. New stove and new carpet. Easy commute to Manhattan, Junction City, and Topeka Shop 42 x 35 with lift to the west is also for sale for an additional price

5. 2020-09-07
   listed $95,000 379-char remark

   Show marketing remark (379 chars)

   Home has been remodeled and ready for new owners. This 3 bedroom, 1 bath, appliances stay, doggy door has a automatic door. You will enjoy the large room sizes, modern kitchen, partially fenced yard, all on 4 lots 100 x 140. New stove and new carpet. Easy commute to Manhattan, Junction City, and Topeka Shop 42 x 35 with lift to the west is also for sale for an additional price

6. 2005-02-01
   soldstatus $21,000
7. 1994-12-01
   soldstatus $26,500

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,460
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$2,182
• Taxable income: $4,264
• Est. tax owed @ 24.0%: −$1,023
• After-tax cash flow: $4,181/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: Wabaunsee
• NCES district ID: 2003240
• Math proficiency: 43% ▲ 3.00%
• Reading proficiency: 41% ▲ 2.00%
• Median HH income: $56,193
• Composite: 39.09/100
• National rank: #8258
• State rank: #42 of 280 in KS

Livability — McFarland

• Score: 62/100
• State rank: #370
• US rank: #16629

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McFarland, KS
• City population: 356
• Population (ZIP): 356

Population outlook (Wabaunsee County) Hauer SSP2

• Today (2025): 6,569 people
• By 2030: 6,342 · -3.5%
• By 2040: 5,867 · -10.7%
• By 2050: 5,401 · -17.8%
• By 2075: 4,520 · -31.2%
• By 2100: 3,569 · -45.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 8% Two or more races 3% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 31% Serbian 1% German 1%

Political lean MEDSL · Wabaunsee

• 2024 margin: Solid R (+48.8) · D 24.6% · R 73.4% · Other 2.0%
• 2008→2024 swing: -10.2pp toward R · 2008: -38.6pp · 2024: -48.8pp
• All cycles: 2024: R+48.8 2020: R+48.1 2016: R+47.5 2012: R+40.9 2008: R+38.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+183.0% since first listed

7 events — show timeline

• 2026-04-13 Pending — FHAOR as distributed by MLS GRID
• 2026-03-09 Listed $75,000 FHAOR as distributed by MLS GRID
• 2020-10-27 Sold (Public Records) — Public Records
• 2020-10-26 Sold (MLS) — FHAOR as distributed by MLS GRID
• 2020-09-07 Listed $95,000 FHAOR as distributed by MLS GRID
• 2005-02-01 Sold (Public Records) $21,000 Public Records
• 1994-12-01 Sold (Public Records) $26,500 Public Records