208 S Sedgwick Ave

Burrton, KS 67020

$60,000B

2 bd · 1.0 ba · 796 sqft · Built 1890 · SingleFamily · Active · 137 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $845/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$117
• HOA: −$0
• Vac / Maint / Mgmt: −$178
• Net cashflow: $236/mo
• Annual: $2,830/yr
• Cap rate: 11.01%
• Cash-on-cash: 16.84%
• DSCR: 1.75
• 1% rule: 1.41%
• Cash to close: $16,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($845 rent vs $60k).
• It's been on market 137 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($415 loan paydown + $2k appreciation (3.8% local appreciation)).
• Location reads 71/100 on livability (#134 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Burrton (rural): math 25% / reading 25% proficiency, ranked #214 of 280 in KS (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Burrton Elem (math 30% / reading 30%, grade F, #454 of 684 statewide, top 67%, 74 students, 55% FRL); Burrton Ms/Hs (math 8% / reading 15%, grade F, #287 of 327 statewide, top 88%, 89 students, 52% FRL).
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 13 active listings in the ZIP; 148 units permitted in Harvey County in 2024 (13 in 5+ unit buildings).
• 6 sale attempts since 18y ago; this cycle's ask has dropped $25k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• 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

• It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.