406 S Maple St · McPherson, KS 67460

$73,000

4 bd · 1.5 ba · 2,448 sqft · SingleFamily public records · 64 Days on market

Built 1887 6,970 sqft lot

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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
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 6,970 sq ft lot
• Garage
• Built 1887

Property features AI

Finance

• Other: Residential property

Exterior

• Parking: Detached garage (1-car); Alley access; One parking space total
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-one-half story
• Construction: Frame construction with vinyl and wood siding; Shingle roof; Built with a foundation and partial basement
• Exterior features: Covered patio/porch; Partial chain link fencing; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Refrigerator; Gas water heater
• Flooring: Carpet; Tile; Vinyl; Wood
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Natural gas heating; Central electric air conditioning
• Interior features: One fireplace; Basement with partial finish and exterior entry; Covered porch
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $73k.

Deal economics

• At list price, monthly cash flow is $675 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• Recommended offer: $69k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 81/100 on livability (#12 in KS, #1,567 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Mcpherson (town): math 25% / reading 32% proficiency, ranked #103 of 169 in KS (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Roosevelt Elem (math 27% / reading 42%, grade F, #388 of 684 statewide, top 61%, 266 students, 65% FRL); Mcpherson Middle School (math 21% / reading 27%, grade F, #121 of 219 statewide, top 56%, 492 students, 42% FRL); Mcpherson High (math 22% / reading 22%, grade F, #165 of 327 statewide, top 55%, 709 students, 36% FRL) — zoned schools average 48% FRL vs 32% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 149 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 102 units permitted in McPherson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $505 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• McPherson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,620 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1887 — 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: 2.04% ✓
• Cap rate: 17.39%
• Cash-on-cash: 39.64%
• DSCR: 2.76
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 36.0%
• Equity multiple: 2.53×
• Total profit: $31,193
• Equity at exit: $10,885

10-year hold

• IRR: 42.7%
• Equity multiple: 5.04×
• Total profit: $82,621
• Equity at exit: $6,312

Cash invested: $20,440 (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 67460

• Active inventory: 149
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,493 medium
• Mortgage (P&I): −$383
• Tax from tax record: −$91 /mo · $1,089/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $675

Break-even live

Break-even rent $638

Max offer price $73,000

Occupancy floor 50%

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: $18,250
• Closing costs: $2,190
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 Laurel Ct McPherson, KS	3.0	2.0	1596	$1,475	$0.92	14d	1	1.03mi

Listing history 19 events

1. 2026-06-19
   days on market $73,000 Active 64 DOM
2. 2026-06-18
   days on market $73,000 Active 63 DOM
3. 2026-06-17
   days on market $73,000 Active 62 DOM
4. 2026-06-16
   days on market $73,000 Active 61 DOM
5. 2026-06-15
   days on market $73,000 Active 60 DOM
6. 2026-06-14
   days on market $73,000 Active 58 DOM
7. 2026-06-12
   days on market $73,000 Active 57 DOM
8. 2026-06-09
   days on market $73,000 Active 54 DOM
9. 2026-06-08
   days on market $73,000 Active 53 DOM
10. 2026-06-07
    days on market $73,000 Active 52 DOM
11. 2026-06-05
    days on market $73,000 Active 50 DOM
12. 2026-06-04
    days on market $73,000 Active 48 DOM
13. 2026-06-02
    days on market $73,000 Active 47 DOM
14. 2026-06-01
    days on market $73,000 Active 46 DOM
15. 2026-05-31
    days on market $73,000 Active 45 DOM
16. 2026-05-31
    days on market $73,000 Active 44 DOM
17. 2026-05-22
    status Active
18. 2026-05-12
    historical Active Under Contract
19. 2026-04-16
    listed $73,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast KS · Resets to sale price

• Current annual tax: $1,089 · $91/mo
• Projected year-2 tax: $1,089 · $91/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,911
• − Mortgage interest: −$4,089
• − Property taxes: −$1,089
• − Insurance: −$365
• − Repairs & maintenance: −$1,433
• − Management: −$1,433
• − Depreciation: −$2,124
• Taxable income: $7,378
• Est. tax owed @ 24.0%: −$1,771
• After-tax cash flow: $6,331/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: Mcpherson
• NCES district ID: 2009390
• Math proficiency: 25% ▼ -3.00%
• Reading proficiency: 32% ▲ 1.00%
• Median HH income: $54,750
• Composite: 25.39/100
• National rank: #7468
• State rank: #103 of 169 in KS

Livability — McPherson

• Score: 81/100
• State rank: #12
• US rank: #1567

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McPherson, KS
• County: McPherson County · 16,348 people
• City population: 16,348
• Metro: McPherson, KS
• Population (ZIP): 16,348
• Household income: $80,720
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 492.0

Population outlook (McPherson County) Hauer SSP2

• Today (2025): 28,958 people
• By 2030: 28,735 · -0.8%
• By 2040: 28,020 · -3.2%
• By 2050: 27,276 · -5.8%
• By 2075: 26,211 · -9.5%
• By 2100: 23,976 · -17.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 4% Iranian 3% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · McPherson

• 2024 margin: Solid R (+41.1) · D 28.5% · R 69.6% · Other 1.9%
• 2008→2024 swing: -5.8pp toward R · 2008: -35.3pp · 2024: -41.1pp
• All cycles: 2024: R+41.1 2020: R+40.3 2016: R+42.0 2012: R+41.6 2008: R+35.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -216.18%
• Current HPI: 155.3302
• Rent YoY: —
• Metro: McPherson, KS
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-05-22 Relisted — MKMLS as distributed by MLS GRID
• 2026-05-12 Contingent — MKMLS as distributed by MLS GRID
• 2026-04-16 Listed $73,000 MKMLS as distributed by MLS GRID

Property tax history

-1.1%/yr

Latest (2025): $1,089 · +2.4% YoY. Source: county tax records.