515 Rock St · Pawnee Rock, KS 67567

$25,000

2 bd · 1.0 ba · 934 sqft · SingleFamily public records · 240 Days on market

Built 1900 3,500 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
• Appreciation +7.0/10.0
• Schools +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Reap from cheap!! Must see this fixer upper property. Perfect for investors, contractors, or hunter hang out. ..

Key facts

• New inside stairway
• New wiring
• Newer windows

Tags

• NEW WIRING
• NEW ROOF
• NEW INSIDE STAIRWAY
• NEWER WINDOWS
• ONE BLOCK FROM THE CITY PARK
• ONE BLOCK FROM POST OFFICE

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story residential property; Zoned NC.1 / R-1
• Exterior features: Composition roof; Lot approximately 70' x 50'

Interior

• Interior features: Window coverings

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($876 rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#407 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, schools F.
• Ft Larned (town): math 32% / reading 43% proficiency, ranked #49 of 169 in KS (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP; 19 units permitted in Barton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($173 loan paydown + $1k appreciation (4.0% local appreciation)).
• Barton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 240 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $5k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $6k; list at $25k implies a 303% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 240 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
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: 3.50% ✓
• Cap rate: 31.96%
• Cash-on-cash: 91.66%
• DSCR: 5.08
• GRM: 2.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 71.4%
• Equity multiple: 5.13×
• Total profit: $28,891
• Equity at exit: $12,745

10-year hold

• IRR: 70.2%
• Equity multiple: 10.60×
• Total profit: $67,166
• Equity at exit: $20,901

Cash invested: $7,000 (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 67567

• Home prices YoY: 3.2%
• Active inventory: 3
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $876 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$16 /mo · $186/yr
• Insurance: −$10
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $383

Break-even live

Break-even rent $391

Max offer price $25,000

Occupancy floor 51%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $25,000 Active 240 DOM
2. 2026-06-17
   days on market $25,000 Active 239 DOM
3. 2026-06-16
   days on market $25,000 Active 238 DOM
4. 2026-06-15
   days on market $25,000 Active 237 DOM
5. 2026-06-13
   days on market $25,000 Active 235 DOM
6. 2026-06-12
   days on market $25,000 Active 234 DOM
7. 2026-06-09
   days on market $25,000 Active 231 DOM
8. 2026-06-08
   days on market $25,000 Active 230 DOM
9. 2026-06-07
   days on market $25,000 Active 229 DOM
10. 2026-06-05
    days on market $25,000 Active 227 DOM
11. 2026-06-04
    days on market $25,000 Active 225 DOM
12. 2026-06-02
    days on market $25,000 Active 224 DOM
13. 2026-06-01
    days on market $25,000 Active 223 DOM
14. 2026-05-31
    days on market $25,000 Active 222 DOM
15. 2026-05-31
    days on market $25,000 Active 221 DOM
16. 2026-04-01
    price $25,000
17. 2025-10-17
    listed $29,900 Active
18. 2024-02-22
    soldstatus Closed 112-char remark

    Show marketing remark (112 chars)

    Reap from cheap!! Must see this fixer upper property. Perfect for investors, contractors, or hunter hang out. ..

19. 2024-01-17
    status Pending 112-char remark

    Show marketing remark (112 chars)

    Reap from cheap!! Must see this fixer upper property. Perfect for investors, contractors, or hunter hang out. ..

20. 2023-11-27
    listed $12,900 Active 112-char remark

    Show marketing remark (112 chars)

    Reap from cheap!! Must see this fixer upper property. Perfect for investors, contractors, or hunter hang out. ..

21. 2023-11-27
    listed $12,900

    Show marketing remark (112 chars)

    Reap from cheap!! Must see this fixer upper property. Perfect for investors, contractors, or hunter hang out. ..

22. 2000-04-01
    soldstatus $6,200
23. 1993-01-01
    soldstatus $3,500

ⓘ 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: $186 · $16/mo
• Projected year-2 tax: $352 · $29/mo
• Expected delta: +$166/yr (+$14/mo · 89.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AH · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,507
• − Mortgage interest: −$1,400
• − Property taxes: −$186
• − Insurance: −$1,949
• − Repairs & maintenance: −$841
• − Management: −$841
• − Depreciation: −$727
• Taxable income: $4,562
• Est. tax owed @ 24.0%: −$1,095
• After-tax cash flow: $3,496/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: Ft Larned
• NCES district ID: 2008370
• Math proficiency: 32% ▬ 0.00%
• Reading proficiency: 43% ▲ 8.00%
• Median HH income: $42,806
• Composite: 31.69/100
• National rank: #5919
• State rank: #49 of 169 in KS

Livability — Pawnee Rock

• Score: 61/100
• State rank: #407
• US rank: #17969

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pawnee Rock, KS
• Population (ZIP): 755

Population outlook (Barton County) Hauer SSP2

• Today (2025): 26,088 people
• By 2030: 25,418 · -2.6%
• By 2040: 24,010 · -8.0%
• By 2050: 22,719 · -12.9%
• By 2075: 20,690 · -20.7%
• By 2100: 18,869 · -27.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 14% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 4% Italian 4% Iranian 3%
• Foreign-born: 1% · Canada

Political lean MEDSL · Barton

• 2024 margin: Solid R (+56.8) · D 20.9% · R 77.6% · Other 1.5%
• 2008→2024 swing: -13.4pp toward R · 2008: -43.3pp · 2024: -56.8pp
• All cycles: 2024: R+56.8 2020: R+56.4 2016: R+58.9 2012: R+53.6 2008: R+43.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.05%
• Current HPI: 129.6833
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+614.3% since first listed

8 events — show timeline

• 2026-04-01 Price Changed $25,000 Hays MLS
• 2025-10-17 Listed $29,900 Hays MLS
• 2024-02-22 Sold (MLS) — Hays MLS
• 2024-01-17 Pending — Hays MLS
• 2023-11-27 Listed $12,900 SCKMLS as Distributed by MLS Grid
• 2023-11-27 Listed $12,900 Hays MLS
• 2000-04-01 Sold (Public Records) $6,200 Public Records
• 1993-01-01 Sold (Public Records) $3,500 Public Records

Property tax history

+7.2%/yr

Latest (2025): $186 · +7.6% YoY. Source: county tax records.