10 Lucky 1 Cir

Mound City, KS 66056

$90,000D+

1 bd · 1.0 ba · 603 sqft · Built 2022 · SingleFamily · Active · 245 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $789/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$150
• HOA: −$19
• Vac / Maint / Mgmt: −$166
• Net cashflow: $-18/mo
• Annual: $-215/yr
• Cap rate: 6.05%
• Cash-on-cash: -0.85%
• DSCR: 0.96
• 1% rule: 0.88%
• Cash to close: $25,200

Investor read

• This is a 1-bed/1.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $-18 ($-215/yr) — negative.
• To cash-flow at today's rent, offer at most $87k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $79k (12.4% below list).
• It's been on market 245 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (12.4% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($622 loan paydown + $8k appreciation (9.2% local appreciation)).
• Location reads 63/100 on livability (#339 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime F, amenities F, commute F.
• Jayhawk (rural): math 32% / reading 30% proficiency, ranked #95 of 169 in KS (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jayhawk Elementary (math 37% / reading 37%, grade F, #358 of 684 statewide, top 56%, 316 students, 62% FRL); Jayhawk-Linn High (math 22% / reading 17%, grade F, #216 of 327 statewide, top 70%, 259 students, 55% FRL).
• Market conditions: 53 active listings in the ZIP; 97 units permitted in Linn County in 2024 (0 in 5+ unit buildings).
• At projected returns (9.2% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 245 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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?