102 E 3rd St · Linwood, KS 66052

$599,000

27 bd · 2.0 ba · 4,310 sqft · MultiFamily public records · 17 Days on market

Built 1900 10,162 sqft 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
• Schools +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 9 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

AMAZING opportunity to own the perfect rental property!! 5 spacious and renovated units. All are rented and nicely kept by wonderful occupants. Sturdy 1900's building with 5 units that are updated with all the modern amenities and located in the perfect small town that has quick access to just about anywhere!

Key facts

• Renovated units
• Sturdy building
• Modern amenities

Tags

• SPACIOUS UNITS
• RENOVATED UNITS
• STURDY BUILDING
• MODERN AMENITIES

Property features AI

Finance

• Other: Total of 5 units with over 95% current occupancy
• Financial info: Gross income reported at $76,500; Operating expenses include maintenance, personal property tax, insurance, real estate tax, and water/sewer
• HOA & community: No association fees; Maintenance provided for building exterior, HVAC, lawn, roof repair and replacement

Exterior

• Parking: On-street parking with total parking for approximately 10 vehicles; Other parking features
• Utilities: Public water; Public sewer; Separate meters for units; High-speed internet available
• Home design: Residential income property (apartment); Two-story building; Zoned R
• Construction: Frame construction; Composition roof; Property age: over 100 years
• Exterior features: Private entrances for units; Corner property location

Interior

• Kitchen: Range/Oven; Refrigerator; Dishwasher; Disposal; Hot water heater in each unit
• Bedrooms: Multiple unit types including one 2-bedroom unit and several 1- and 2-bedroom units (total mix across property)
• Bathrooms: All units have 1 bathroom
• Heating & cooling: Electric heating; Electric cooling (central or unit-based cooling available)
• Interior features: Common entry
• Laundry & utility: Individual washer and dryer in each unit; Laundry located inside

What this means for you Summary

Snapshot

• This is a 9 × 3-bed/?-bath units multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $4k ($50k/yr) — positive. Per door: $459/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $599k).
• Recommended offer: $590k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#343 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime F, amenities F, commute F.
• Basehor-Linwood (rural): math 37% / reading 45% proficiency, ranked #23 of 169 in KS (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Linwood Elementary School (math 54% / reading 54%, grade C, #107 of 684 statewide, top 18%, 247 students, 14% FRL); Basehor-Linwood High School (math 26% / reading 33%, grade F, #60 of 327 statewide, top 24%, 857 students, 14% FRL) — zoned schools at 14% FRL track the district average.
• Market conditions: 40 active listings in the ZIP; 347 units permitted in Leavenworth County in 2024 (50 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Leavenworth County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $168k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($590k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $32k; list at $599k implies a 1772% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $590,015 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.65% ✓
• Cap rate: 14.57%
• Cash-on-cash: 29.56%
• DSCR: 2.32
• GRM: 5.1

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: 24.0%
• Equity multiple: 1.99×
• Total profit: $165,901
• Equity at exit: $89,313

10-year hold

• IRR: 31.9%
• Equity multiple: 3.88×
• Total profit: $482,677
• Equity at exit: $51,791

Cash invested: $167,720 (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 66052

• Home prices YoY: -5.6%
• Active inventory: 40
• Price-to-rent: 45.5×

Monthly cashflow live

• Estimated rent: $9,868 medium
• Mortgage (P&I): −$3,141
• Tax from tax record: −$274 /mo · $3,287/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,072
• Net cashflow: $4,131

Break-even live

Break-even rent $4,639

Max offer price $599,000

Occupancy floor 53%

9-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 9× units	3	—	$9,864
Total (9 units)			$9,868

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $599,000 Active 17 DOM
2. 2026-06-17
   days on market $599,000 Active 16 DOM
3. 2026-06-16
   days on market $599,000 Active 15 DOM
4. 2026-06-15
   days on market $599,000 Active 14 DOM
5. 2026-06-13
   days on market $599,000 Active 12 DOM
6. 2026-06-09
   days on market $599,000 Active 8 DOM
7. 2026-06-08
   days on market $599,000 Active 7 DOM
8. 2026-06-07
   days on market $599,000 Active 6 DOM
9. 2026-06-03
   days on market $599,000 Active 2 DOM
10. 2026-06-01
    remarks 310-char remark

    Show marketing remark (310 chars)

    AMAZING opportunity to own the perfect rental property!! 5 spacious and renovated units. All are rented and nicely kept by wonderful occupants. Sturdy 1900's building with 5 units that are updated with all the modern amenities and located in the perfect small town that has quick access to just about anywhere!

11. 2026-06-01
    listed $599,000 Active 1 DOM

    Show marketing remark (310 chars)

    AMAZING opportunity to own the perfect rental property!! 5 spacious and renovated units. All are rented and nicely kept by wonderful occupants. Sturdy 1900's building with 5 units that are updated with all the modern amenities and located in the perfect small town that has quick access to just about anywhere!

ⓘ 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: $3,287 · $274/mo
• Projected year-2 tax: $8,446 · $704/mo
• Expected delta: +$5,159/yr (+$430/mo · 157.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥110°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $118,416
• − Mortgage interest: −$33,553
• − Property taxes: −$3,287
• − Insurance: −$2,995
• − Repairs & maintenance: −$9,473
• − Management: −$9,473
• − Depreciation: −$17,425
• Taxable income: $42,209
• Est. tax owed @ 24.0%: −$10,130
• After-tax cash flow: $39,442/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: Basehor-Linwood
• NCES district ID: 2003780
• Math proficiency: 37% ▼ -6.00%
• Reading proficiency: 45% ▼ -3.00%
• Median HH income: $73,212
• Composite: 37.51/100
• National rank: #4397
• State rank: #23 of 169 in KS

Livability — Linwood

• Score: 63/100
• State rank: #343
• US rank: #15372

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Linwood, KS
• City population: 2,104
• Population (ZIP): 2,104

Population outlook (Leavenworth County) Hauer SSP2

• Today (2025): 85,138 people
• By 2030: 87,518 · +2.8%
• By 2040: 91,715 · +7.7%
• By 2050: 95,304 · +11.9%
• By 2075: 103,750 · +21.9%
• By 2100: 101,230 · +18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 22% Two or more races 13% Black 4%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 10% Romanian 4% Iranian 3%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 9%

Political lean MEDSL · Leavenworth

• 2024 margin: Strong R (+22.8) · D 37.6% · R 60.4% · Other 2.1%
• 2008→2024 swing: -11.2pp toward R · 2008: -11.6pp · 2024: -22.8pp
• All cycles: 2024: R+22.8 2020: R+21.1 2016: R+24.7 2012: R+20.2 2008: R+11.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -16.51%
• Current HPI: 276.6904
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+1397.5% since first listed

9 events — show timeline

• 2026-06-01 Listed $599,000 Lawrence MLS as distributed by MLS GRID
• 2026-06-01 Listed $599,000 Heartland MLS as Distributed by MLS Grid
• 2025-07-25 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-06-15 Price Changed $574,900 Heartland MLS as Distributed by MLS Grid
• 2025-04-30 Price Changed $599,900 Heartland MLS as Distributed by MLS Grid
• 2025-03-17 Listed $625,000 Heartland MLS as Distributed by MLS Grid
• 2019-09-20 Sold (Public Records) — Public Records
• 2001-03-01 Sold (Public Records) $32,000 Public Records
• 1991-05-01 Sold (Public Records) $40,000 Public Records

Property tax history

+11.0%/yr

Latest (2025): $3,287 · +25.8% YoY. Source: county tax records.