21 Cedar Crest Dr

Mound City, KS 66056

$20,000C-

2 bd · 1.0 ba · 800 sqft · Built 1972 · SingleFamily · Active · 249 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $837/mo
• Mortgage (P&I): −$105
• Tax + insurance: −$33
• HOA: −$19
• Vac / Maint / Mgmt: −$176
• Net cashflow: $504/mo
• Annual: $6,047/yr
• Cap rate: 36.53%
• Cash-on-cash: 107.99%
• DSCR: 5.80
• 1% rule: 4.18%
• Cash to close: $5,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $20k.
• At list price, monthly cash flow is $504 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($837 rent vs $20k).
• It's been on market 249 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($138 loan paydown + $2k appreciation (9.2% local appreciation)).
• Location reads 63/100 on livability (#339 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.
• Jayhawk (rural): math 32% / reading 30% proficiency, ranked #95 of 169 in KS (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jayhawk Elementary (math 37% / reading 37%, grade F, #358 of 684 statewide, top 56%, 316 students, 62% FRL); Jayhawk-Linn High (math 22% / reading 17%, grade F, #216 of 327 statewide, top 70%, 259 students, 55% FRL).
• Market conditions: 53 active listings in the ZIP; 97 units permitted in Linn County in 2024 (0 in 5+ unit buildings).
• 4 sale attempts since 19y 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.
• At projected returns (9.2% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 249 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.