137 S Pennsylvania Ave · Jennings, KS 67643

$35,000

4 bd · 2.0 ba · 1,191 sqft · SingleFamily public records · 5 Days on market

Built 1916

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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 +5.0/10.0
• Schools +2.9/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Built 1916
• Listed 4 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $644 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).

Location & tenants

• Location reads 53/100 on livability (#599 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Hoxie Community Schools (rural): math 31% / reading 35% proficiency, ranked #70 of 169 in KS (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 2 units permitted in Decatur County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($242 loan paydown + $1k appreciation (3.0% local appreciation)).
• Decatur County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,000

Questions for the listing agent

1. Built in 1916 — 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. 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?
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: 3.20% ✓
• Cap rate: 28.38%
• Cash-on-cash: 78.87%
• DSCR: 4.51
• GRM: 2.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 83.4%
• Equity multiple: 5.62×
• Total profit: $45,258
• Equity at exit: $15,738

10-year hold

• IRR: 82.9%
• Equity multiple: 11.58×
• Total profit: $103,649
• Equity at exit: $24,253

Cash invested: $9,800 (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 67643

• Active inventory: 1
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,122 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $644

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 38%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-18
   days on market $35,000 Active 5 DOM
2. 2026-06-17
   days on market $35,000 Active 4 DOM
3. 2026-06-16
   days on market $35,000 Active 3 DOM
4. 2026-06-15
   days on market $35,000 Active 2 DOM
5. 2026-06-14
   listed $35,000 Active 1 DOM

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°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: $13,458
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,077
• − Management: −$1,077
• − Depreciation: −$1,018
• Taxable income: $7,626
• Est. tax owed @ 24.0%: −$1,830
• After-tax cash flow: $5,899/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: Hoxie Community Schools
• NCES district ID: 2007530
• Math proficiency: 31% ▼ -6.00%
• Reading proficiency: 35% ▼ -3.00%
• Median HH income: $50,577
• Composite: 28.74/100
• National rank: #6675
• State rank: #70 of 169 in KS

Livability — Jennings

• Score: 53/100
• State rank: #599
• US rank: #24467

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jennings, KS
• Population (ZIP): 197

Population outlook (Decatur County) Hauer SSP2

• Today (2025): 2,798 people
• By 2030: 2,738 · -2.1%
• By 2040: 2,643 · -5.5%
• By 2050: 2,583 · -7.7%
• By 2075: 2,841 · +1.5%
• By 2100: 2,662 · -4.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Black 3%
• Common ancestry: Portuguese 6% Lithuanian 4% Albanian 3%
• Foreign-born: 4%
• Languages at home: 98% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Decatur

• 2024 margin: Solid R (+69.0) · D 14.8% · R 83.8% · Other 1.4%
• 2008→2024 swing: -14.4pp toward R · 2008: -54.6pp · 2024: -69.0pp
• All cycles: 2024: R+69.0 2020: R+70.2 2016: R+71.4 2012: R+62.2 2008: R+54.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-14 Listed $35,000 FSBO.com