2015 Frazier Ave · Galena, KS 66739

$114,000

3 bd · 2.0 ba · 1,431 sqft · Manufactured public records · 95 Days on market

Built 1996 $80/sqft · 23% below area Est $148k · 23% under ↓ 12% since listing

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.4/30.0
• DSCR +4.4/10.0
• 1% rule +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Clean home with 3 bedroom, 2 bath, large living room. Split bedroom plan. 2 car attached garage. Just under 1/2 acre beautiful lot on a cul-de-sac.

Key facts

• 2 garage spots
• Built 1996
• Listed 94 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $114k.

Deal economics

• At list price, monthly cash flow is $24 ($287/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 $96k (15.8% below list).
• Recommended offer: $96k (15.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#239 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools F, crime F, amenities F.
• Galena (town): math 23% / reading 35% proficiency, ranked #118 of 169 in KS (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 55 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 17 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $788 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cherokee County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($104k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,995 (15.8% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.84% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.90%
• DSCR: 1.04
• GRM: 9.9

CMA / ARV

• ARV (median comp): $147,522
• List price: $114,000
• Delta: -22.72%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.9%
• Equity multiple: 0.47×
• Total profit: $-16,970
• Equity at exit: $16,998

10-year hold

• IRR: -6.3%
• Equity multiple: 0.60×
• Total profit: $-12,893
• Equity at exit: $9,857

Cash invested: $31,920 (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 66739

• Home prices YoY: -15.5%
• Active inventory: 55
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $960 medium
• Mortgage (P&I): −$598
• Tax from tax record: −$89 /mo · $1,070/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $24

Break-even live

Break-even rent $930

Max offer price $114,000

Occupancy floor 93%

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1113 Chica Ln Unit 1 Galena, KS	2.0	1.0	1000	$965	$0.96	44d	1	0.74mi
1001 E 5th St Unit B Galena, KS	2.0	1.0	900	$950	$1.06	44d	1	1.32mi

Listing history 20 events

1. 2026-06-19
   days on market $114,000 Active 95 DOM
2. 2026-06-18
   days on market $114,000 Active 94 DOM
3. 2026-06-17
   days on market $114,000 Active 93 DOM
4. 2026-06-16
   days on market $114,000 Active 92 DOM
5. 2026-06-15
   days on market $114,000 Active 91 DOM
6. 2026-06-14
   days on market $114,000 Active 89 DOM
7. 2026-06-13
   days on market $114,000 Active 88 DOM
8. 2026-06-10
   days on market $114,000 Active 86 DOM
9. 2026-06-09
   days on market $114,000 Active 85 DOM
10. 2026-06-08
    days on market $114,000 Active 84 DOM
11. 2026-06-07
    days on market $114,000 Active 83 DOM
12. 2026-06-05
    days on market $114,000 Active 80 DOM
13. 2026-06-03
    days on market $114,000 Active 79 DOM
14. 2026-06-02
    days on market $114,000 Active 78 DOM
15. 2026-06-01
    days on market $114,000 Active 77 DOM
16. 2026-05-31
    days on market $114,000 Active 76 DOM
17. 2026-05-30
    days on market $114,000 Active 75 DOM
18. 2026-05-08
    price $114,000 147-char remark

    Show marketing remark (147 chars)

    Clean home with 3 bedroom, 2 bath, large living room. Split bedroom plan. 2 car attached garage. Just under 1/2 acre beautiful lot on a cul-de-sac.

19. 2026-03-16
    listed $129,500 Active 147-char remark

    Show marketing remark (147 chars)

    Clean home with 3 bedroom, 2 bath, large living room. Split bedroom plan. 2 car attached garage. Just under 1/2 acre beautiful lot on a cul-de-sac.

20. 1996-01-01
    soldstatus

ⓘ 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: $1,070 · $89/mo
• Projected year-2 tax: $1,607 · $134/mo
• Expected delta: +$538/yr (+$45/mo · 50.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,519
• − Mortgage interest: −$6,386
• − Property taxes: −$1,070
• − Insurance: −$570
• − Repairs & maintenance: −$922
• − Management: −$922
• − Depreciation: −$3,316
• Taxable loss: −$1,666
• Est. tax savings @ 24.0%: +$400
• After-tax cash flow: $686/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: Galena
• NCES district ID: 2006360
• Math proficiency: 23% ▼ -1.00%
• Reading proficiency: 35% ▲ 6.00%
• Median HH income: $38,223
• Composite: 24.21/100
• National rank: #7727
• State rank: #118 of 169 in KS

Livability — Galena

• Score: 67/100
• State rank: #239
• US rank: #10647

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Galena, KS
• Population (ZIP): 5,240

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 18,848 people
• By 2030: 17,862 · -5.2%
• By 2040: 15,850 · -15.9%
• By 2050: 13,915 · -26.2%
• By 2075: 10,102 · -46.4%
• By 2100: 6,977 · -63.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 11% Native American 2% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Italian 2% Swedish 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 99% English-only · Chinese 1%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+52.9) · D 22.6% · R 75.5% · Other 1.9%
• 2008→2024 swing: -29.2pp toward R · 2008: -23.7pp · 2024: -52.9pp
• All cycles: 2024: R+52.9 2020: R+49.9 2016: R+48.4 2012: R+29.5 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.57%
• Current HPI: 172.0001
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-12.0% since first listed

3 events — show timeline

• 2026-05-08 Price Changed $114,000 OGAR
• 2026-03-16 Listed $129,500 OGAR
• 1996-01-01 Sold (Public Records) — Public Records

Property tax history

+2.0%/yr

Latest (2025): $1,070 · +7.9% YoY. Source: county tax records.