604 E 2nd St · Oakley, KS 67748

$79,000

2 bd · 1.5 ba · 698 sqft · SingleFamily public records · 355 Days on market

Built 1938

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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 +19.5/30.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Key facts

• Move-in ready
• Remodeled
• Corner lot

Tags

• CORNER LOT
• REMODELED
• MOVE-IN READY

Property features AI

Finance

• Other: Listing provided by Southwest Kansas MLS

Exterior

• Parking: Detached or attached garage with 1 car space
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence (Residential property); Zoned residential subdivision
• Construction: Frame construction
• Exterior features: Deck; Composition roof

Interior

• Kitchen: Range; Cooktop; Refrigerator; Gas water heater
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas central heating
• Interior features: Window coverings; Partial basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $90 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($804 rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#38 in KS, #2,950 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Oakley (rural): math 20% / reading 28% proficiency, ranked #139 of 169 in KS (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 10 active listings in the ZIP.

Forward outlook

• In year one you build about $4k of equity ($546 loan paydown + $4k appreciation (4.8% local appreciation)).
• Logan County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 355 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $8k; list at $79k implies a 888% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 355 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — 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. 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.
6. 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.
7. 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: 1.02% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.86%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.78% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 2.04×
• Total profit: $22,921
• Equity at exit: $43,700

10-year hold

• IRR: 16.9%
• Equity multiple: 3.93×
• Total profit: $64,884
• Equity at exit: $74,552

Cash invested: $22,120 (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 67748

• Home prices YoY: 2.6%
• Active inventory: 10
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $804 medium
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$169
• Net cashflow: $90

Break-even live

Break-even rent $691

Max offer price $79,000

Occupancy floor 84%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $79,000 Active 355 DOM
2. 2026-06-17
   days on market $79,000 Active 354 DOM
3. 2026-06-16
   days on market $79,000 Active 353 DOM
4. 2026-06-15
   days on market $79,000 Active 352 DOM
5. 2026-06-13
   days on market $79,000 Active 350 DOM
6. 2026-06-12
   days on market $79,000 Active 349 DOM
7. 2026-06-09
   days on market $79,000 Active 346 DOM
8. 2026-06-08
   days on market $79,000 Active 345 DOM
9. 2026-06-07
   days on market $79,000 Active 344 DOM
10. 2026-06-05
    days on market $79,000 Active 342 DOM
11. 2026-06-04
    days on market $79,000 Active 340 DOM
12. 2026-06-02
    days on market $79,000 Active 339 DOM
13. 2026-06-01
    days on market $79,000 Active 338 DOM
14. 2026-05-31
    days on market $79,000 Active 337 DOM
15. 2026-05-31
    days on market $79,000 Active 336 DOM
16. 2023-08-27
    listed $79,000 Active
17. 1998-03-01
    soldstatus $8,000
18. 1994-08-01
    soldstatus $5,500
19. 1993-09-01
    soldstatus $5,000

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 6 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,653
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$395
• − Repairs & maintenance: −$772
• − Management: −$772
• − Depreciation: −$2,298
• Taxable loss: −$195
• Est. tax savings @ 24.0%: +$47
• After-tax cash flow: $1,121/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: Oakley
• NCES district ID: 2010050
• Math proficiency: 20% ▼ -10.00%
• Reading proficiency: 28% ▼ -7.00%
• Median HH income: $45,077
• Composite: 20.73/100
• National rank: #8521
• State rank: #139 of 169 in KS

Livability — Oakley

• Score: 77/100
• State rank: #38
• US rank: #2950

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: Oakley, KS
• Population (ZIP): 2,695

Population outlook (Logan County) Hauer SSP2

• Today (2025): 3,054 people
• By 2030: 3,164 · +3.6%
• By 2040: 3,376 · +10.5%
• By 2050: 3,660 · +19.8%
• By 2075: 4,503 · +47.4%
• By 2100: 5,039 · +65.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 4% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 5% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+71.6) · D 13.1% · R 84.7% · Other 2.2%
• 2008→2024 swing: -4.8pp toward R · 2008: -66.8pp · 2024: -71.6pp
• All cycles: 2024: R+71.6 2020: R+72.8 2016: R+72.3 2012: R+68.4 2008: R+66.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.78%
• Current HPI: 191.2601
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+1480.0% since first listed

4 events — show timeline

• 2023-08-27 Listed $79,000 SWKSBOR
• 1998-03-01 Sold (Public Records) $8,000 Public Records
• 1994-08-01 Sold (Public Records) $5,500 Public Records
• 1993-09-01 Sold (Public Records) $5,000 Public Records