411 W 4th St

Junction City, KS 66441

$100,000C+

2 bd · 1.0 ba · 876 sqft · Built 1950 · SingleFamily · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,164/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$174
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $220/mo
• Annual: $2,644/yr
• Cap rate: 8.94%
• Cash-on-cash: 9.44%
• DSCR: 1.42
• 1% rule: 1.16%
• Cash to close: $28,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#266 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.
• Geary County Schools (town): math 32% / reading 39% proficiency, ranked #60 of 169 in KS (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.0%/yr); 260 active listings in the ZIP; 93 units permitted in Geary County in 2024 (0 in 5+ unit buildings).
• Geary County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 7y ago; this cycle's ask is 10711% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $24k; list at $100k implies a 326% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1950 — 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?
• 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.