410 S Chestnut St · Iola, KS 66749

$120,000

3 bd · 1.0 ba · 2,146 sqft · SingleFamily public records · 43 Days on market

Built 1920 9,000 sqft lot Est $124k · at est. ↓ 11% since listing

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Why this score? — see what drove the C+ 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 +26.1/30.0
• ARV discount +9.1/15.0
• DSCR +8.8/10.0
• 1% rule +6.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Key facts

• Large level yard
• Two generous lots
• Updated kitchen

Tags

• MOVE IN READY
• TWO GENEROUS LOTS
• BRIGHT SPACIOUS LIVING AREAS
• UPDATED KITCHEN
• LARGE LEVEL YARD
• DETACHED TWO CAR GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 5.8% in Iola — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 71/100 on livability (#150 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.
• Iola (town): math 18% / reading 31% proficiency, ranked #140 of 169 in KS (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 63 active listings in the ZIP; 18 units permitted in Allen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Allen County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.19% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.83%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $124,468
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 S Chestnut St	0.00mi	4/2.0 (+1)	2,146 (0%)	1mo	$120,000	$56	90
112 W Neosho St	0.10mi	3/1.0	2,151 (+0%)	8mo	$100,000	$46	89
705 E Madison Ave	0.69mi	4/2.0 (+1)	2,207 (+3%)	2mo	$99,900	$45	52
410 E Madison Ave	0.53mi	4/2.5 (+1)	2,204 (+3%)	12mo	$235,000	$107	50
212 S Colborn St	0.53mi	4/1.5 (+1)	2,299 (+7%)	8mo	$78,500	$34	50
412 S Cottonwood N/A	0.43mi	3/2.0	1,995 (-7%)	19mo	$159,000	$80	48
304 N Buckeye St	0.57mi	3/2.0	1,952 (-9%)	11mo	$184,000	$94	45
706 E Jackson Ave	0.72mi	3/2.0	2,404 (+12%)	12mo	$139,900	$58	32
414 S Elm St	0.62mi	3/2.0	1,880 (-12%)	22mo	$131,500	$70	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-116
• Equity at exit: $17,892

10-year hold

• IRR: 9.6%
• Equity multiple: 1.74×
• Total profit: $24,848
• Equity at exit: $10,375

Cash invested: $33,600 (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 66749

• Home prices YoY: -32.6%
• Active inventory: 63
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,433 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $303

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 74%

Sensitivity live

Price	-10% $386	-5% $345	+0% $303	+5% $262	+10% $220
Rent	-10% $190	-5% $247	+0% $303	+5% $360	+10% $416
Rate	-1.0pp $364	-0.5pp $334	base $303	+0.5pp $272	+1.0pp $240

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-03-12
   status Pending
2. 2026-02-24
   price $120,000
3. 2026-01-28
   listed $135,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,202
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,376
• − Management: −$1,376
• − Depreciation: −$3,491
• Taxable income: $1,837
• Est. tax owed @ 24.0%: −$441
• After-tax cash flow: $3,197/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: Iola
• NCES district ID: 2007740
• Math proficiency: 18% ▼ -5.00%
• Reading proficiency: 31% ▼ -3.00%
• Median HH income: $38,749
• Composite: 20.52/100
• National rank: #8567
• State rank: #140 of 169 in KS

Livability — Iola

• Score: 71/100
• State rank: #150
• US rank: #7275

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iola, KS
• Population (ZIP): 7,452

Population outlook (Allen County) Hauer SSP2

• Today (2025): 11,885 people
• By 2030: 11,352 · -4.5%
• By 2040: 10,285 · -13.5%
• By 2050: 9,342 · -21.4%
• By 2075: 7,482 · -37.0%
• By 2100: 5,871 · -50.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 4% Two or more races 4% Black 3% Native American 1% Pacific Islander 1%
• Common ancestry: Italian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Allen

• 2024 margin: Solid R (+46.1) · D 25.8% · R 72.0% · Other 2.2%
• 2008→2024 swing: -22.9pp toward R · 2008: -23.3pp · 2024: -46.1pp
• All cycles: 2024: R+46.1 2020: R+44.4 2016: R+41.0 2012: R+27.2 2008: R+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.20%
• Current HPI: 151.1778
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-11.1% since first listed

3 events — show timeline

• 2026-03-12 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-02-24 Price Changed $120,000 Heartland MLS as Distributed by MLS Grid
• 2026-01-28 Listed $135,000 Heartland MLS as Distributed by MLS Grid