104 Morton · Elkhart, KS 67950

$54,900

4 bd · 2.0 ba · 1,136 sqft · SingleFamily public records · 110 Days on market

Built 1947 9,147 sqft lot ↓ 5% since listing

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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
• Appreciation +7.1/10.0
• Livability +3.6/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 9,147 sq ft lot
• 2 garage spots
• Built 1947

Property features AI

Exterior

• Parking: 2-car garage
• Security: Smoke detector(s)
• Utilities: Public sewer available
• Home design: Single-family onsite built
• Construction: Composition roof; Full daylight foundation
• Exterior features: One-level home; Storm doors; Fencing (other)

Interior

• Kitchen: Garbage disposal
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning (electric); Forced air heating (natural gas)
• Interior features: Disposal; Finished basement; Living room fireplace; Smoke detectors
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#116 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: employment D+, amenities F, commute F.
• Elkhart (rural): math 25% / reading 42% proficiency, ranked #80 of 169 in KS (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Elkhart Elem (math 17% / reading 34%, grade F, #535 of 684 statewide, top 78%, 155 students, 66% FRL); Elkhart Middle School (math 17% / reading 27%, grade F, #134 of 219 statewide, top 63%, 120 students, 60% FRL); Elkhart High (math 10% / reading 10%, grade F, #289 of 327 statewide, top 93%, 112 students, 46% FRL) — zoned schools average 57% FRL vs 34% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 19% at this address vs 34% district-wide (-14 pts) — the specific schools serving this property underperform the Elkhart average; the district grade overstates school quality for this exact location.
• Market conditions: 12 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($380 loan paydown + $2k appreciation (4.2% local appreciation)).
• Morton County population projected at -40% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $49,959 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.91% ✓
• Cap rate: 16.08%
• Cash-on-cash: 34.95%
• DSCR: 2.56
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.16% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.4%
• Equity multiple: 3.51×
• Total profit: $38,586
• Equity at exit: $28,345

10-year hold

• IRR: 41.2%
• Equity multiple: 7.08×
• Total profit: $93,388
• Equity at exit: $46,772

Cash invested: $15,372 (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 67950

• Home prices YoY: 3.4%
• Active inventory: 12
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,047 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $824/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $448

Break-even live

Break-even rent $480

Max offer price $54,900

Occupancy floor 52%

Sensitivity live

Price	-10% $486	-5% $467	+0% $448	+5% $429	+10% $410
Rent	-10% $365	-5% $406	+0% $448	+5% $489	+10% $530
Rate	-1.0pp $475	-0.5pp $462	base $448	+0.5pp $434	+1.0pp $419

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-19
   status Pending
2. 2026-05-04
   price $54,900
3. 2026-04-01
   price $74,900
4. 2026-03-03
   price $84,900
5. 2026-01-29
   listed $94,900 Active
6. 2009-03-01
   soldstatus $80,000
7. 2007-06-01
   soldstatus $75,000
8. 2007-06-01
   soldstatus $75,000
9. 1993-12-01
   soldstatus $57,500
10. 1993-12-01
    soldstatus $57,500

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,564
• − Mortgage interest: −$3,075
• − Property taxes: −$824
• − Insurance: −$274
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − Depreciation: −$1,597
• Taxable income: $4,784
• Est. tax owed @ 24.0%: −$1,148
• After-tax cash flow: $4,225/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: Elkhart
• NCES district ID: 2005790
• Math proficiency: 25% ▼ -2.00%
• Reading proficiency: 42% ▲ 4.00%
• Median HH income: $42,271
• Composite: 28.3/100
• National rank: #6788
• State rank: #80 of 169 in KS

Livability — Elkhart

• Score: 72/100
• State rank: #116
• US rank: #6297

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elkhart, KS
• Population (ZIP): 1,786

Population outlook (Morton County) Hauer SSP2

• Today (2025): 2,576 people
• By 2030: 2,363 · -8.3%
• By 2040: 1,940 · -24.7%
• By 2050: 1,559 · -39.5%
• By 2075: 881 · -65.8%
• By 2100: 558 · -78.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 21% Two or more races 15% Asian 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Slovak 1% Italian 1% English 1%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 11% Tagalog/Filipino 2% Other Indo-European 1%

Political lean MEDSL · Morton

• 2024 margin: Solid R (+73.4) · D 12.4% · R 85.8% · Other 1.9%
• 2008→2024 swing: -7.5pp toward R · 2008: -65.9pp · 2024: -73.4pp
• All cycles: 2024: R+73.4 2020: R+73.7 2016: R+71.1 2012: R+69.8 2008: R+65.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.16%
• Current HPI: 128.3365
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-4.5% since first listed

10 events — show timeline

• 2026-05-19 Pending — SCKMLS as Distributed by MLS Grid
• 2026-05-04 Price Changed $54,900 SCKMLS as Distributed by MLS Grid
• 2026-04-01 Price Changed $74,900 SCKMLS as Distributed by MLS Grid
• 2026-03-03 Price Changed $84,900 SCKMLS as Distributed by MLS Grid
• 2026-01-29 Listed $94,900 SCKMLS as Distributed by MLS Grid
• 2009-03-01 Sold (Public Records) $80,000 Public Records
• 2007-06-01 Sold (Public Records) $75,000 Public Records
• 2007-06-01 Sold (Public Records) $75,000 Public Records
• 1993-12-01 Sold (Public Records) $57,500 Public Records
• 1993-12-01 Sold (Public Records) $57,500 Public Records