103 W 3rd St · Hope, KS 67451

$120,000

3 bd · 1.0 ba · 1,428 sqft · SingleFamily public records

Built 1893

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Why this score? — see what drove the C- 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 +18.8/30.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• DSCR +5.9/10.0
• 1% rule +4.2/10.0
• Livability +3.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Built 1893

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (7.6% below list).
• Recommended offer: $111k (7.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#462 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools C-, health & safety D+, crime F.
• Rural Vista (rural): math 30% / reading 30% proficiency, ranked #160 of 280 in KS (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 active listings in the ZIP; 26 units permitted in Dickinson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($830 loan paydown + $6k appreciation (5.0% local appreciation)).
• Dickinson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,857 (7.6% below list)

Questions for the listing agent

1. Built in 1893 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.92% ✗
• Cap rate: 7.50%
• Cash-on-cash: 4.30%
• DSCR: 1.19
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.4%
• Equity multiple: 2.04×
• Total profit: $34,937
• Equity at exit: $67,621

10-year hold

• IRR: 16.8%
• Equity multiple: 3.95×
• Total profit: $99,127
• Equity at exit: $116,390

Cash invested: $33,600 (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 67451

• Home prices YoY: 2.5%
• Active inventory: 4
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,109 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$76 /mo · $913/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $120

Break-even live

Break-even rent $956

Max offer price $120,000

Occupancy floor 84%

Sensitivity live

Price	-10% $188	-5% $154	+0% $120	+5% $86	+10% $52
Rent	-10% $33	-5% $77	+0% $120	+5% $164	+10% $208
Rate	-1.0pp $181	-0.5pp $151	base $120	+0.5pp $89	+1.0pp $58

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-26
   listed $120,000

ⓘ 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: $913 · $76/mo
• Projected year-2 tax: $1,692 · $141/mo
• Expected delta: +$779/yr (+$65/mo · 85.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,303
• − Mortgage interest: −$6,722
• − Property taxes: −$913
• − Insurance: −$600
• − Repairs & maintenance: −$1,064
• − Management: −$1,064
• − Depreciation: −$3,491
• Taxable loss: −$552
• Est. tax savings @ 24.0%: +$132
• After-tax cash flow: $1,577/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: Rural Vista
• NCES district ID: 2007440
• Math proficiency: 30% ▼ -5.00%
• Reading proficiency: 30% ▼ -15.00%
• Median HH income: $50,191
• Composite: 29.06/100
• National rank: #11901
• State rank: #160 of 280 in KS

Livability — Hope

• Score: 59/100
• State rank: #462
• US rank: #19795

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hope, KS
• Population (ZIP): 915

Population outlook (Dickinson County) Hauer SSP2

• Today (2025): 18,727 people
• By 2030: 18,312 · -2.2%
• By 2040: 17,433 · -6.9%
• By 2050: 16,493 · -11.9%
• By 2075: 14,441 · -22.9%
• By 2100: 11,707 · -37.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 4% Native American 2%
• Common ancestry: Slovak 7% Serbian 4% Lithuanian 3%

Political lean MEDSL · Dickinson

• 2024 margin: Solid R (+55.0) · D 21.8% · R 76.7% · Other 1.5%
• 2008→2024 swing: -12.8pp toward R · 2008: -42.2pp · 2024: -55.0pp
• All cycles: 2024: R+55.0 2020: R+54.1 2016: R+54.0 2012: R+47.7 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.95%
• Current HPI: 204.6651
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-26 Listed $120,000 FSBO.com

Property tax history

+2.6%/yr

Latest (2025): $913 · +2.8% YoY. Source: county tax records.