106 E Garfield St · Madison, KS 66860

$17,000

2 bd · 1.0 ba · 1,193 sqft · SingleFamily public records · 23 Days on market

Built 1928

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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 +15.0/30.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• New plumbing
• New breaker box
• New wiring

Tags

• NEW PLUMBING
• NEW ROOF
• NEW SEWAGE LINE
• NEW BREAKER BOX
• NEW WIRING
• NEW INTERIOR INSULATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $17k.

Deal economics

• At list price, monthly cash flow is $689 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $17k).
• Recommended offer: $17k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#318 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools D, crime F, amenities F.
• Madison-Virgil (rural): math 45% / reading 45% proficiency, ranked #32 of 280 in KS (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 11 active listings in the ZIP; 3 units permitted in Greenwood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($118 loan paydown + $1k appreciation (6.9% local appreciation)).
• Greenwood County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.9% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($17k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1928 — 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 $16,745 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — 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 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?
4. 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?
5. 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.
6. 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.
7. 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: 6.00% ✓
• Cap rate: 54.92%
• Cash-on-cash: 173.65%
• DSCR: 8.73
• GRM: 1.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.44×
• Total profit: $49,677
• Equity at exit: $11,625

10-year hold

• IRR: —
• Equity multiple: 24.45×
• Total profit: $111,616
• Equity at exit: $21,943

Cash invested: $4,760 (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 66860

• Home prices YoY: 4.1%
• Active inventory: 11
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,021 medium
• Mortgage (P&I): −$89
• Tax est. 1.5%: −$21 /mo · $255/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $689

Break-even live

Break-even rent $149

Max offer price $17,000

Occupancy floor 28%

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: $4,250
• Closing costs: $510
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $17,000 Active 23 DOM
2. 2026-06-17
   days on market $17,000 Active 22 DOM
3. 2026-06-16
   days on market $17,000 Active 21 DOM
4. 2026-06-15
   days on market $17,000 Active 20 DOM
5. 2026-06-13
   days on market $17,000 Active 18 DOM
6. 2026-06-12
   days on market $17,000 Active 17 DOM
7. 2026-06-09
   days on market $17,000 Active 14 DOM
8. 2026-06-08
   days on market $17,000 Active 13 DOM
9. 2026-06-07
   days on market $17,000 Active 12 DOM
10. 2026-06-05
    days on market $17,000 Active 10 DOM
11. 2026-06-04
    days on market $17,000 Active 8 DOM
12. 2026-06-02
    days on market $17,000 Active 7 DOM
13. 2026-06-01
    days on market $17,000 Active 6 DOM
14. 2026-05-31
    days on market $17,000 Active 5 DOM
15. 2026-05-31
    days on market $17,000 Active 4 DOM
16. 2026-05-26
    listed $17,000 Active

ⓘ 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 FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,248
• − Mortgage interest: −$952
• − Property taxes: −$255
• − Insurance: −$85
• − Repairs & maintenance: −$980
• − Management: −$980
• − Depreciation: −$495
• Taxable income: $8,501
• Est. tax owed @ 24.0%: −$2,040
• After-tax cash flow: $6,226/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: Madison-Virgil
• NCES district ID: 2009090
• Math proficiency: 45% ▲ 5.00%
• Reading proficiency: 45% ▲ 5.00%
• Median HH income: $40,771
• Composite: 39.98/100
• National rank: #7896
• State rank: #32 of 280 in KS

Livability — Madison

• Score: 64/100
• State rank: #318
• US rank: #14619

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, KS
• Population (ZIP): 1,391

Population outlook (Greenwood County) Hauer SSP2

• Today (2025): 5,505 people
• By 2030: 5,103 · -7.3%
• By 2040: 4,287 · -22.1%
• By 2050: 3,576 · -35.0%
• By 2075: 2,370 · -56.9%
• By 2100: 1,459 · -73.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 3% Black 1%
• Common ancestry: Slovak 4% Italian 2% Lithuanian 1%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Greenwood

• 2024 margin: Solid R (+61.0) · D 18.8% · R 79.7% · Other 1.5%
• 2008→2024 swing: -17.2pp toward R · 2008: -43.8pp · 2024: -61.0pp
• All cycles: 2024: R+61.0 2020: R+60.8 2016: R+59.1 2012: R+49.3 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.86%
• Current HPI: 175.5345
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-26 Listed $17,000 FSBO.com