102 Cherry · Minneapolis, KS 67467

$135,000

3 bd · 3.0 ba · 2,310 sqft · SingleFamily public records · 70 Days on market

Built 1973 9,583 sqft lot

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Why this score? — see what drove the D 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 +9.1/30.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• Livability +3.9/5.0
• 1% rule +3.4/10.0
• Schools +3.0/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Small workshop
• Covered patio
• 9,583 sq ft lot

Tags

• PRIVATE ENSUITE BATHROOM
• DURABLE ALL BRICK VENEER
• SMALL WORKSHOP
• COVERED PATIO
• CLOSE TO ELEMENTARY SCHOOL
• CLOSE TO DOWNTOWN AMENITIES

Property features AI

Exterior

• Parking: Detached or attached 2-car garage
• Utilities: Public utilities; Sewer available; Natural gas available
• Home design: Single-family onsite-built home
• Construction: Gravel roof; No foundation details listed
• Exterior features: One-level layout; Covered patio/porch; On-site storage structure

Interior

• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric)
• Interior features: Main-floor laundry in a separate room with a utility sink; No basement
• Laundry & utility: Main-floor laundry room with sink

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-105 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (13.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (15.9% below list).
• Recommended offer: $114k (15.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#40 in KS, #3,169 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• North Ottawa County (rural): math 34% / reading 34% proficiency, ranked #62 of 169 in KS (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Minneapolis Elementary (math 37% / reading 37%, grade F, #358 of 684 statewide, top 56%, 327 students, 51% FRL); Minneapolis Jr-Sr High School (math 27% / reading 32%, grade F, #60 of 327 statewide, top 24%, 302 students, 45% FRL) — zoned schools average 48% FRL vs 29% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 24 active listings in the ZIP; 12 units permitted in Ottawa County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($933 loan paydown + $4k appreciation (2.8% local appreciation)).
• Ottawa County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $96k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,541 (15.9% below list)

Questions for the listing agent

1. 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?
2. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 0.84% ✗
• Cap rate: 5.36%
• Cash-on-cash: -3.33%
• DSCR: 0.85
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.8%
• Equity multiple: 1.22×
• Total profit: $8,208
• Equity at exit: $59,169

10-year hold

• IRR: 7.2%
• Equity multiple: 2.07×
• Total profit: $40,481
• Equity at exit: $90,013

Cash invested: $37,800 (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 67467

• Home prices YoY: 1.4%
• Active inventory: 24
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,135 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$238 /mo · $2,851/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $-105

Break-even live

Break-even rent $1,268

Max offer price $116,491

Occupancy floor —

Sensitivity live

Price	-10% $-28	-5% $-67	+0% $-105	+5% $-143	+10% $-181
Rent	-10% $-194	-5% $-150	+0% $-105	+5% $-60	+10% $-15
Rate	-1.0pp $-37	-0.5pp $-70	base $-105	+0.5pp $-140	+1.0pp $-175

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-11
   status Pending
2. 2026-04-03
   price $135,000
3. 2026-03-02
   listed $140,000 Active
4. 2000-08-01
   soldstatus $96,000
5. 1992-05-01
   soldstatus

ⓘ 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: $2,851 · $238/mo
• Projected year-2 tax: $2,851 · $238/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,625
• − Mortgage interest: −$7,562
• − Property taxes: −$2,851
• − Insurance: −$675
• − Repairs & maintenance: −$1,090
• − Management: −$1,090
• − Depreciation: −$3,927
• Taxable loss: −$3,570
• Est. tax savings @ 24.0%: +$857
• After-tax cash flow: $-401/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: North Ottawa County
• NCES district ID: 2009570
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 34% ▼ -9.00%
• Median HH income: $50,499
• Composite: 29.58/100
• National rank: #6483
• State rank: #62 of 169 in KS

Livability — Minneapolis

• Score: 77/100
• State rank: #40
• US rank: #3169

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Minneapolis, KS
• Population (ZIP): 2,701

Population outlook (Ottawa County) Hauer SSP2

• Today (2025): 5,796 people
• By 2030: 5,660 · -2.3%
• By 2040: 5,366 · -7.4%
• By 2050: 5,017 · -13.4%
• By 2075: 4,494 · -22.5%
• By 2100: 3,766 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Slovak 3% Iranian 3% Lithuanian 2%
• Foreign-born: 0%

Political lean MEDSL · Ottawa

• 2024 margin: Solid R (+66.6) · D 15.8% · R 82.4% · Other 1.7%
• 2008→2024 swing: -14.1pp toward R · 2008: -52.5pp · 2024: -66.6pp
• All cycles: 2024: R+66.6 2020: R+65.8 2016: R+64.1 2012: R+59.3 2008: R+52.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.80%
• Current HPI: 200.3448
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+40.6% since first listed

5 events — show timeline

• 2026-05-11 Pending — SCKMLS as Distributed by MLS Grid
• 2026-04-03 Price Changed $135,000 SCKMLS as Distributed by MLS Grid
• 2026-03-02 Listed $140,000 SCKMLS as Distributed by MLS Grid
• 2000-08-01 Sold (Public Records) $96,000 Public Records
• 1992-05-01 Sold (Public Records) — Public Records

Property tax history

+2.9%/yr

Latest (2025): $2,851 · +7.5% YoY. Source: county tax records.