825 E Sherman St · Hutchinson, KS 67501

$115,000

3 bd · 1.0 ba · 720 sqft · SingleFamily public records · 23 Days on market

Built 1900 0.32 ac lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.9/30.0
• Livability +3.5/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Schools +1.7/10.0
• DSCR +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turn of the century charm with rental potential in your back yard! This 3 bedroom, 1 bathroom historic home has an additional 2 bedroom, 1 bathroom cottage on the property. Separately metered for gas and electric. This property offers the income potential with the living space for a family. The historic features are unique and one of a kind. Both the main house and mother-in-law cottage have full kitchens, bathrooms and living spaces. This property has a lot of potential for anyone looking for a family home or a rental property!

Key facts

• Bright living space
• Full kitchen
• 0.32 acre lot

Tags

• HISTORICAL MAIN HOUSE
• UNIQUE ARCHITECTURAL FEATURES
• FULL KITCHEN
• BRIGHT LIVING SPACE
• DEDICATED HOME OFFICE
• HIGH-POTENTIAL RENTAL UNIT

Property features AI

Exterior

• Parking: One parking space; Alley access
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding; Composition roof; Full block basement
• Exterior features: Covered patio/porch; Vinyl fencing; Paved road access

Interior

• Kitchen: Includes standard appliances (gas water heater noted)
• Bedrooms: One bedroom on the main level
• Flooring: Carpet; Laminate; Wood
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Natural gas heating; Central air; Ceiling fans; Window air conditioning units
• Interior features: Gas water heater; No fireplace
• Laundry & utility: Laundry located on the lower level; Basement with exterior entry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $-175 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $84k (26.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $84k (27.3% below list).
• Recommended offer: $84k (27.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#199 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime D+, employment D+, amenities F.
• Hutchinson Public Schools (town): math 15% / reading 25% proficiency, ranked #157 of 169 in KS (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mccandless Elementary (math 8% / reading 22%, grade F, #624 of 684 statewide, top 92%, 206 students, 93% FRL); Hutchinson Middle School 8 (math 11% / reading 22%, grade F, #172 of 219 statewide, top 79%, 295 students, 70% FRL); Hutchinson High School (math 11% / reading 19%, grade F, #249 of 327 statewide, top 79%, 1,299 students, 62% FRL) — zoned schools average 75% FRL vs 56% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.5%/yr); 68 active listings in the ZIP; 40 units permitted in Reno County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Reno County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago 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 $60k; list at $115k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $83,566 (27.3% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. 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?
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: 0.73% ✗
• Cap rate: 4.46%
• Cash-on-cash: -6.54%
• DSCR: 0.71
• GRM: 11.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.46% rent growth · sell at horizon

5-year hold

• IRR: -28.2%
• Equity multiple: 0.06×
• Total profit: $-30,219
• Equity at exit: $17,147

10-year hold

• IRR: -29.3%
• Equity multiple: -0.32×
• Total profit: $-42,378
• Equity at exit: $9,943

Cash invested: $32,200 (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 67501

• Rents YoY: 2.5%
• Active inventory: 68
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $836 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$185 /mo · $2,215/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$175
• Net cashflow: $-175

Break-even live

Break-even rent $1,058

Max offer price $84,018

Occupancy floor —

Sensitivity live

Price	-10% $-110	-5% $-143	+0% $-175	+5% $-208	+10% $-240
Rent	-10% $-241	-5% $-208	+0% $-175	+5% $-142	+10% $-109
Rate	-1.0pp $-117	-0.5pp $-146	base $-175	+0.5pp $-205	+1.0pp $-235

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-05
   pricestatusdays on market $115,000 Pending 23 DOM
2. 2026-06-02
   days on market $120,000 Active 21 DOM
3. 2026-06-01
   days on market $120,000 Active 20 DOM
4. 2026-05-31
   days on market $120,000 Active 19 DOM
5. 2026-05-30
   days on market $120,000 Active 18 DOM
6. 2026-05-12
   listed $120,000 Active
7. 2022-01-31
   soldstatus 534-char remark

   Show marketing remark (534 chars)

   Turn of the century charm with rental potential in your back yard! This 3 bedroom, 1 bathroom historic home has an additional 2 bedroom, 1 bathroom cottage on the property. Separately metered for gas and electric. This property offers the income potential with the living space for a family. The historic features are unique and one of a kind. Both the main house and mother-in-law cottage have full kitchens, bathrooms and living spaces. This property has a lot of potential for anyone looking for a family home or a rental property!

8. 2021-07-15
   listed $89,900 534-char remark

   Show marketing remark (534 chars)

   Turn of the century charm with rental potential in your back yard! This 3 bedroom, 1 bathroom historic home has an additional 2 bedroom, 1 bathroom cottage on the property. Separately metered for gas and electric. This property offers the income potential with the living space for a family. The historic features are unique and one of a kind. Both the main house and mother-in-law cottage have full kitchens, bathrooms and living spaces. This property has a lot of potential for anyone looking for a family home or a rental property!

9. 2011-12-11
   listed $69,900
10. 1998-10-01
    soldstatus $59,900

ⓘ 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: $2,215 · $185/mo
• Projected year-2 tax: $2,215 · $185/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 18 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: $10,028
• − Mortgage interest: −$6,442
• − Property taxes: −$2,215
• − Insurance: −$575
• − Repairs & maintenance: −$802
• − Management: −$802
• − Depreciation: −$3,345
• Taxable loss: −$4,154
• Est. tax savings @ 24.0%: +$997
• After-tax cash flow: $-1,108/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: Hutchinson Public Schools
• NCES district ID: 2007620
• Math proficiency: 15% ▼ -9.00%
• Reading proficiency: 25% ▼ -2.00%
• Median HH income: $39,264
• Composite: 16.85/100
• National rank: #9145
• State rank: #157 of 169 in KS

Livability — Hutchinson

• Score: 69/100
• State rank: #199
• US rank: #8963

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hutchinson, KS
• County: Reno County · 47,704 people
• City population: 47,704
• Metro: Hutchinson, KS
• Population (ZIP): 24,605
• Household income: $50,859
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 724.0

Population outlook (Reno County) Hauer SSP2

• Today (2025): 63,149 people
• By 2030: 62,477 · -1.1%
• By 2040: 60,901 · -3.6%
• By 2050: 59,679 · -5.5%
• By 2075: 58,792 · -6.9%
• By 2100: 56,900 · -9.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 15% Two or more races 10% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Lithuanian 2% Slovak 2% Scotch-Irish 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 4% German/W. Germanic 2% French/Haitian/Cajun 1%

Political lean MEDSL · Reno

• 2024 margin: Solid R (+34.5) · D 31.8% · R 66.2% · Other 2.0%
• 2008→2024 swing: -11.1pp toward R · 2008: -23.4pp · 2024: -34.5pp
• All cycles: 2024: R+34.5 2020: R+34.3 2016: R+36.0 2012: R+31.5 2008: R+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -132.71%
• Current HPI: 203.1673
• Rent YoY: ▲ 2.46%
• Metro: Hutchinson, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+100.3% since first listed

5 events — show timeline

• 2026-05-12 Listed $120,000 MKMLS as distributed by MLS GRID
• 2022-01-31 Sold (MLS) — MKMLS as distributed by MLS GRID
• 2021-07-15 Listed $89,900 MKMLS as distributed by MLS GRID
• 2011-12-11 Listed $69,900 MKMLS as distributed by MLS GRID
• 1998-10-01 Sold (Public Records) $59,900 Public Records

Property tax history

+2.6%/yr

Latest (2025): $2,215 · +6.2% YoY. Source: county tax records.