118 W 6th St. St

Quinter, KS 67752

$130,000D-

4 bd · 2.0 ba · 1,098 sqft · Built 1945 · SingleFamily · Active · 94 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $961/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$281
• HOA: −$0
• Vac / Maint / Mgmt: −$202
• Net cashflow: $-204/mo
• Annual: $-2,445/yr
• Cap rate: 4.41%
• Cash-on-cash: -6.72%
• DSCR: 0.70
• 1% rule: 0.74%
• Cash to close: $36,400

Investor read

• This is a 4-bed/2.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $-204 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $94k (27.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $96k (26.1% below list).
• It's been on market 94 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (27.7% below list) — sets the bar for cash-flow.
• In year one you build about $4k of equity ($899 loan paydown + $3k appreciation (2.2% local appreciation)).
• Location reads 73/100 on livability (#98 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, amenities F, commute F.
• Quinter Public Schools (rural): math 40% / reading 50% proficiency, ranked #30 of 280 in KS (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Quinter Elem (math 27% / reading 37%, grade F, #423 of 684 statewide, top 66%, 188 students, 37% FRL); Quinter Jr-Sr High (math 17% / reading 32%, grade F, #105 of 327 statewide, top 49%, 136 students, 29% FRL).
• Zoned-school proficiency averages 28% at this address vs 45% district-wide (-17 pts) — the specific schools serving this property underperform the Quinter Public Schools average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP.
• Gove County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 3y 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 $64k; list at $130k implies a 103% gain — meaningful room to come down on a strong offer.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 94 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• Built in 1945 — 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.
• Crime grade is D 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?
• 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.