328 N Ericson Ave · Sharon Springs, KS 67758

$99,900

3 bd · 1.0 ba · 1,276 sqft · SingleFamily public records · 103 Days on market

Built 1930 6,534 sqft lot ↓ 6% since listing

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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 +23.1/30.0
• Appreciation +9.6/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Very nice 1 1/2 story home with 3 bedrooms and 2 full bathrooms in Sharon Springs KS. Two of the bedrooms are upstairs and a master with full bath downstairs. Functional galley kitchen with a living room/dining room/ laundry room open concept area. There is a fully fenced backyard and a detached garage on a nice size corner lot.

Key facts

• Galley kitchen
• Corner lot
• 6,534 sq ft lot

Tags

• GALLEY KITCHEN
• FULLY FENCED BACKYARD
• CORNER LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $180 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#194 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, crime F, amenities F.
• Wallace County Schools (rural): math 35% / reading 40% proficiency, ranked #96 of 280 in KS (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP.

Forward outlook

• In year one you build about $10k of equity ($691 loan paydown + $9k appreciation (9.1% local appreciation)).
• Wallace County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (9.1% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, 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 103 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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?
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. 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.
8. 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.
9. 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: 1.10% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.72%
• DSCR: 1.34
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.12% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.2%
• Equity multiple: 3.14×
• Total profit: $59,898
• Equity at exit: $83,631

10-year hold

• IRR: 24.8%
• Equity multiple: 6.94×
• Total profit: $166,141
• Equity at exit: $173,982

Cash invested: $27,972 (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 67758

• Home prices YoY: 4.9%
• Active inventory: 2
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,102 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $180

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 79%

Sensitivity live

Price	-10% $249	-5% $214	+0% $180	+5% $145	+10% $111
Rent	-10% $93	-5% $136	+0% $180	+5% $223	+10% $267
Rate	-1.0pp $230	-0.5pp $205	base $180	+0.5pp $154	+1.0pp $128

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $99,900 Active 103 DOM
2. 2026-06-18
   days on market $99,900 Active 102 DOM
3. 2026-06-17
   days on market $99,900 Active 101 DOM
4. 2026-06-16
   days on market $99,900 Active 100 DOM
5. 2026-06-15
   days on market $99,900 Active 99 DOM
6. 2026-06-14
   days on market $99,900 Active 97 DOM
7. 2026-06-12
   days on market $99,900 Active 96 DOM
8. 2026-06-09
   days on market $99,900 Active 93 DOM
9. 2026-06-08
   days on market $99,900 Active 92 DOM
10. 2026-06-07
    days on market $99,900 Active 91 DOM
11. 2026-06-05
    days on market $99,900 Active 89 DOM
12. 2026-06-04
    pricedays on market $99,900 Active 87 DOM
13. 2026-06-02
    days on market $108,000 Active 86 DOM
14. 2026-06-01
    days on market $108,000 Active 85 DOM
15. 2026-05-31
    days on market $108,000 Active 84 DOM
16. 2026-05-31
    days on market $108,000 Active 83 DOM
17. 2026-05-18
    price $108,000 330-char remark

    Show marketing remark (330 chars)

    Very nice 1 1/2 story home with 3 bedrooms and 2 full bathrooms in Sharon Springs KS. Two of the bedrooms are upstairs and a master with full bath downstairs. Functional galley kitchen with a living room/dining room/ laundry room open concept area. There is a fully fenced backyard and a detached garage on a nice size corner lot.

18. 2026-04-06
    status Active 330-char remark

    Show marketing remark (330 chars)

    Very nice 1 1/2 story home with 3 bedrooms and 2 full bathrooms in Sharon Springs KS. Two of the bedrooms are upstairs and a master with full bath downstairs. Functional galley kitchen with a living room/dining room/ laundry room open concept area. There is a fully fenced backyard and a detached garage on a nice size corner lot.

19. 2026-04-06
    price $110,000 330-char remark

    Show marketing remark (330 chars)

    Very nice 1 1/2 story home with 3 bedrooms and 2 full bathrooms in Sharon Springs KS. Two of the bedrooms are upstairs and a master with full bath downstairs. Functional galley kitchen with a living room/dining room/ laundry room open concept area. There is a fully fenced backyard and a detached garage on a nice size corner lot.

20. 2026-03-24
    status Pending 330-char remark

    Show marketing remark (330 chars)

    Very nice 1 1/2 story home with 3 bedrooms and 2 full bathrooms in Sharon Springs KS. Two of the bedrooms are upstairs and a master with full bath downstairs. Functional galley kitchen with a living room/dining room/ laundry room open concept area. There is a fully fenced backyard and a detached garage on a nice size corner lot.

21. 2026-02-23
    listed $115,000 Active 330-char remark

    Show marketing remark (330 chars)

    Very nice 1 1/2 story home with 3 bedrooms and 2 full bathrooms in Sharon Springs KS. Two of the bedrooms are upstairs and a master with full bath downstairs. Functional galley kitchen with a living room/dining room/ laundry room open concept area. There is a fully fenced backyard and a detached garage on a nice size corner lot.

ⓘ 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 6 d/yr ≥99°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: $13,220
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,058
• − Management: −$1,058
• − Depreciation: −$2,906
• Taxable income: $604
• Est. tax owed @ 24.0%: −$145
• After-tax cash flow: $2,014/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: Wallace County Schools
• NCES district ID: 2011610
• Math proficiency: 35% ▼ -15.00%
• Reading proficiency: 40% ▼ -10.00%
• Median HH income: $46,451
• Composite: 34.6/100
• National rank: #10086
• State rank: #96 of 280 in KS

Livability — Sharon Springs

• Score: 69/100
• State rank: #194
• US rank: #8845

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: Sharon Springs, KS
• Population (ZIP): 1,059

Population outlook (Wallace County) Hauer SSP2

• Today (2025): 1,573 people
• By 2030: 1,598 · +1.6%
• By 2040: 1,647 · +4.7%
• By 2050: 1,682 · +6.9%
• By 2075: 1,918 · +21.9%
• By 2100: 2,007 · +27.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 2% Iranian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Wallace

• 2024 margin: Solid R (+84.8) · D 7.0% · R 91.7% · Other 1.3%
• 2008→2024 swing: -10.9pp toward R · 2008: -73.9pp · 2024: -84.8pp
• All cycles: 2024: R+84.8 2020: R+87.9 2016: R+85.5 2012: R+81.2 2008: R+73.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.12%
• Current HPI: 195.7645
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-6.1% since first listed

5 events — show timeline

• 2026-05-18 Price Changed $108,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-06 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-04-06 Price Changed $110,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-24 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-02-23 Listed $115,000 Heartland MLS as Distributed by MLS Grid