122 S Billings St · Marion, KS 66861

$19,880

6 bd · 1.0 ba · 2,283 sqft · SingleFamily public records · 547 Days on market

Built 1900 0.26 ac lot ↓ 34% since listing

---

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 +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 0.26 acre lot
• Built 1900
• Listed 546 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Composition roof; Other construction materials; Above-grade finished area approximately 2,283
• Exterior features: Paved road access; 116' x 134' lot (0.26 acre)

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Window air conditioning units; No central heating listed
• Interior features: Crawl space basement; No built-in appliances

What this means for you Summary

Snapshot

• This is a 6-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $696 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $17k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#163 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Marion-Florence (rural): math 35% / reading 45% proficiency, ranked #37 of 169 in KS (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marion Elem (math 47% / reading 57%, grade C-, #131 of 684 statewide, top 23%, 244 students, 46% FRL); Marion Middle (math 32% / reading 37%, grade F, #49 of 219 statewide, top 24%, 127 students, 47% FRL); Marion High (math 15% / reading 24%, grade F, #198 of 327 statewide, top 66%, 142 students, 45% FRL).
• Market conditions: 23 active listings in the ZIP; 25 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($137 loan paydown + $2k appreciation (10.0% local appreciation)).
• Marion County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 547 days — a 12% lower offer ($17k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1900 — 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 $17,494 (12.0% below list)

Questions for the listing agent

1. It's been on market 547 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
7. 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.
8. 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.
9. 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: 5.41% ✓
• Cap rate: 48.28%
• Cash-on-cash: 149.97%
• DSCR: 7.67
• GRM: 1.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.91×
• Total profit: $55,161
• Equity at exit: $17,909

10-year hold

• IRR: —
• Equity multiple: 23.93×
• Total profit: $127,650
• Equity at exit: $38,622

Cash invested: $5,566 (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 66861

• Home prices YoY: 8.4%
• Active inventory: 23
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,076 medium
• Mortgage (P&I): −$104
• Tax from tax record: −$42 /mo · $505/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $696

Break-even live

Break-even rent $196

Max offer price $19,880

Occupancy floor 30%

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: $4,970
• Closing costs: $596
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $19,880 Active 547 DOM
2. 2026-06-17
   days on market $19,880 Active 546 DOM
3. 2026-06-16
   days on market $19,880 Active 545 DOM
4. 2026-06-15
   days on market $19,880 Active 544 DOM
5. 2026-06-13
   days on market $19,880 Active 542 DOM
6. 2026-06-12
   days on market $19,880 Active 541 DOM
7. 2026-06-09
   days on market $19,880 Active 538 DOM
8. 2026-06-08
   days on market $19,880 Active 537 DOM
9. 2026-06-07
   days on market $19,880 Active 536 DOM
10. 2026-06-05
    days on market $19,880 Active 534 DOM
11. 2026-06-04
    days on market $19,880 Active 532 DOM
12. 2026-06-02
    days on market $19,880 Active 531 DOM
13. 2026-06-01
    days on market $19,880 Active 530 DOM
14. 2026-05-31
    days on market $19,880 Active 529 DOM
15. 2026-05-31
    days on market $19,880 Active 528 DOM
16. 2026-03-13
    price $19,880
17. 2025-06-13
    price $25,000
18. 2024-12-18
    listed $29,900 Active

ⓘ 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: $505 · $42/mo
• Projected year-2 tax: $505 · $42/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 10% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,916
• − Mortgage interest: −$1,114
• − Property taxes: −$505
• − Insurance: −$99
• − Repairs & maintenance: −$1,033
• − Management: −$1,033
• − Depreciation: −$578
• Taxable income: $8,553
• Est. tax owed @ 24.0%: −$2,053
• After-tax cash flow: $6,295/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: Marion-Florence
• NCES district ID: 2009240
• Math proficiency: 35% ▼ -6.00%
• Reading proficiency: 45% ▲ 1.00%
• Median HH income: $41,826
• Composite: 33.67/100
• National rank: #5390
• State rank: #37 of 169 in KS

Livability — Marion

• Score: 70/100
• State rank: #163
• US rank: #7701

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, KS
• City population: 2,929
• Population (ZIP): 2,929

Population outlook (Marion County) Hauer SSP2

• Today (2025): 11,315 people
• By 2030: 10,852 · -4.1%
• By 2040: 9,989 · -11.7%
• By 2050: 9,375 · -17.1%
• By 2075: 8,969 · -20.7%
• By 2100: 9,019 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Serbian 3% Lithuanian 3% Italian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+49.1) · D 24.3% · R 73.5% · Other 2.2%
• 2008→2024 swing: -10.2pp toward R · 2008: -38.9pp · 2024: -49.1pp
• All cycles: 2024: R+49.1 2020: R+48.8 2016: R+50.3 2012: R+46.5 2008: R+38.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.73%
• Current HPI: 203.6912
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-33.5% since first listed

3 events — show timeline

• 2026-03-13 Price Changed $19,880 MKMLS as distributed by MLS GRID
• 2025-06-13 Price Changed $25,000 MKMLS as distributed by MLS GRID
• 2024-12-18 Listed $29,900 MKMLS as distributed by MLS GRID

Property tax history

-2.9%/yr

Latest (2025): $505 · +10.9% YoY. Source: county tax records.