406 E Old Hwy 4 · Ransom, KS 67572

$135,000

4 bd · 3.0 ba · 1,383 sqft · SingleFamily · 198 Days on market

Built 1935 1.00 ac lot

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Why this score? — see what drove the D 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 +10.8/30.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• Livability +3.6/5.0
• 1% rule +3.2/10.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Key facts

• Covered porch
• Galley kitchen
• Spacious dining room

Tags

• FULL ACRE
• COVERED PORCH
• WOOD BURNING FIREPLACE
• GALLEY KITCHEN
• SPACIOUS DINING ROOM
• OPEN LOFT

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story residential property
• Construction: Brick and stucco construction
• Exterior features: 1-acre lot (approximate) with 208 x 208 dimensions; Zoned NC.1 / R-1

Interior

• Bedrooms: 1 main-level bedroom
• Heating & cooling: Central air conditioning
• Interior features: Window coverings

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-62 ($-748/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (6.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (18.4% below list).
• Recommended offer: $110k (18.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#141 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Western Plains (rural): math 11% / reading 30% proficiency, ranked #263 of 280 in KS (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 1 active listings in the ZIP; 2 units permitted in Ness County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($933 loan paydown + $3k appreciation (2.2% local appreciation)).
• Ness County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 198 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 8% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,203 (18.4% below list)

Questions for the listing agent

1. 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?
2. It's been on market 198 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.98%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.25% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.19×
• Total profit: $7,005
• Equity at exit: $55,061

10-year hold

• IRR: 7.1%
• Equity multiple: 1.99×
• Total profit: $37,352
• Equity at exit: $80,705

Cash invested: $37,800 (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 67572

• Home prices YoY: 1.4%
• Active inventory: 1
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,102 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $-62

Break-even live

Break-even rent $1,181

Max offer price $125,978

Occupancy floor —

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $135,000 Active 198 DOM
2. 2026-06-17
   days on market $135,000 Active 197 DOM
3. 2026-06-16
   days on market $135,000 Active 196 DOM
4. 2026-06-15
   days on market $135,000 Active 195 DOM
5. 2026-06-13
   days on market $135,000 Active 193 DOM
6. 2026-06-12
   days on market $135,000 Active 192 DOM
7. 2026-06-09
   days on market $135,000 Active 189 DOM
8. 2026-06-08
   days on market $135,000 Active 188 DOM
9. 2026-06-07
   days on market $135,000 Active 187 DOM
10. 2026-06-05
    days on market $135,000 Active 185 DOM
11. 2026-06-04
    days on market $135,000 Active 183 DOM
12. 2026-06-02
    days on market $135,000 Active 182 DOM
13. 2026-06-01
    days on market $135,000 Active 181 DOM
14. 2026-05-31
    days on market $135,000 Active 180 DOM
15. 2026-05-31
    days on market $135,000 Active 179 DOM
16. 2026-04-15
    status Active
17. 2026-04-15
    price $135,000
18. 2025-11-26
    status Pending
19. 2025-07-10
    listed $125,000 Active

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 17 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: $13,224
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,058
• − Management: −$1,058
• − Depreciation: −$3,927
• Taxable loss: −$3,081
• Est. tax savings @ 24.0%: +$739
• After-tax cash flow: $-9/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: Western Plains
• NCES district ID: 2000020
• Math proficiency: 11% ▬ 0.00%
• Reading proficiency: 30% ▲ 19.00%
• Median HH income: $44,167
• Composite: 20.96/100
• National rank: #13715
• State rank: #263 of 280 in KS

Livability — Ransom

• Score: 71/100
• State rank: #141
• US rank: #6937

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ransom, KS
• Population (ZIP): 403

Population outlook (Ness County) Hauer SSP2

• Today (2025): 2,917 people
• By 2030: 2,867 · -1.7%
• By 2040: 2,757 · -5.5%
• By 2050: 2,724 · -6.6%
• By 2075: 2,875 · -1.4%
• By 2100: 2,943 · +0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3%
• Common ancestry: Italian 4% Hungarian 2% Norwegian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Russian/Polish/Slavic 1% Tagalog/Filipino 0%

Political lean MEDSL · Ness

• 2024 margin: Solid R (+79.0) · D 9.5% · R 88.4% · Other 2.1%
• 2008→2024 swing: -18.8pp toward R · 2008: -60.2pp · 2024: -79.0pp
• All cycles: 2024: R+79.0 2020: R+78.5 2016: R+73.6 2012: R+69.1 2008: R+60.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.25%
• Current HPI: 166.0448
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+8.0% since first listed

4 events — show timeline

• 2026-04-15 Relisted — Hays MLS
• 2026-04-15 Price Changed $135,000 Hays MLS
• 2025-11-26 Pending — Hays MLS
• 2025-07-10 Listed $125,000 Hays MLS