908 Maple St

Gypsum, KS 67448

$102,900C-

2 bd · 1.0 ba · 1,032 sqft · Built 1911 · SingleFamily · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $954/mo
• Mortgage (P&I): −$540
• Tax + insurance: −$135
• HOA: −$0
• Vac / Maint / Mgmt: −$200
• Net cashflow: $79/mo
• Annual: $946/yr
• Cap rate: 7.21%
• Cash-on-cash: 3.28%
• DSCR: 1.15
• 1% rule: 0.93%
• Cash to close: $28,812

Investor read

• This is a 2-bed/1.0-bath single-family listed at $103k.
• At list price, monthly cash flow is $79 ($946/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (7.3% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $95k (7.3% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($711 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 67/100 on livability (#246 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.
• Southeast Of Saline (rural): math 32% / reading 46% proficiency, ranked #30 of 169 in KS (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Southeast Saline Elem (math 32% / reading 52%, grade F, #273 of 684 statewide, top 45%, 352 students, 26% FRL); Southeast Saline High (math 32% / reading 37%, grade F, #32 of 327 statewide, top 13%, 339 students, 28% FRL).
• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 293 units permitted in Saline County in 2024 (186 in 5+ unit buildings).
• Saline County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1911 — 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.