601 N Woodland St

Pittsburg, KS 66762

$129,500F

2 bd · 1.0 ba · 1,216 sqft · Built 1930 · SingleFamily · Pending · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $938/mo
• Mortgage (P&I): −$679
• Tax + insurance: −$148
• HOA: −$0
• Vac / Maint / Mgmt: −$197
• Net cashflow: $-86/mo
• Annual: $-1,037/yr
• Cap rate: 5.49%
• Cash-on-cash: -2.86%
• DSCR: 0.87
• 1% rule: 0.72%
• Cash to close: $36,260

Investor read

• This is a 2-bed/1.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (11.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $94k (27.6% below list).
• It's been on market 59 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (27.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $895 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#270 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.
• Pittsburg (town): math 29% / reading 31% proficiency, ranked #111 of 169 in KS (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pittsburg Middle School (math 28% / reading 26%, grade F, #94 of 219 statewide, top 44%, 720 students, 67% FRL); Pittsburg High (math 27% / reading 32%, grade F, #60 of 327 statewide, top 24%, 1,017 students, 60% FRL).
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+13.8%/yr); 142 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 65 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• Current owner paid $49k; list at $130k implies a 165% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: 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 59 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• Built in 1930 — 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 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?
• 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?
• 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.