504 2nd St

Whiting, KS 66552

$70,000B

3 bd · 1.0 ba · 1,040 sqft · Built 1919 · SingleFamily · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $962/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$93
• HOA: −$0
• Vac / Maint / Mgmt: −$202
• Net cashflow: $300/mo
• Annual: $3,602/yr
• Cap rate: 11.44%
• Cash-on-cash: 18.38%
• DSCR: 1.82
• 1% rule: 1.37%
• Cash to close: $19,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($962 rent vs $70k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-0.7%/yr); year-one equity from $484 of loan paydown is wiped out by about $494 of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#495 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• North Jackson (rural): math 40% / reading 50% proficiency, ranked #28 of 280 in KS (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jackson Heights Elementary School (math 52% / reading 52%, grade C-, #131 of 684 statewide, top 23%, 228 students, 40% FRL); Jackson Heights High School And Middle School (math 17% / reading 32%, grade F, #105 of 327 statewide, top 49%, 176 students, 42% FRL).
• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 28 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).
• Jackson County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.7% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1919 — 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 F-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.