906 N Cedar St

Medicine Lodge, KS 67104

$153,000D

4 bd · 2.0 ba · 1,229 sqft · Built 1953 · SingleFamily · Active · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,191/mo
• Mortgage (P&I): −$802
• Tax + insurance: −$255
• HOA: −$0
• Vac / Maint / Mgmt: −$250
• Net cashflow: $-117/mo
• Annual: $-1,400/yr
• Cap rate: 5.38%
• Cash-on-cash: -3.27%
• DSCR: 0.85
• 1% rule: 0.78%
• Cash to close: $42,840

Investor read

• This is a 4-bed/2.0-bath single-family listed at $153k.
• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $136k (11.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (22.2% below list).
• It's been on market 72 days — a 6% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (22.2% below list) — sets the bar for 1% rule.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#204 in KS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Barber County North (rural): math 28% / reading 33% proficiency, ranked #96 of 169 in KS (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Medicine Lodge Grade School (math 32% / reading 37%, grade F, #388 of 684 statewide, top 61%, 260 students, 56% FRL); Medicine Lodge Jr/Sr High School (math 22% / reading 27%, grade F, #105 of 327 statewide, top 49%, 218 students, 50% FRL) — zoned schools average 53% FRL vs 31% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP.
• Barber County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $50k; list at $153k implies a 206% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 72 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Built in 1953 — 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.