301 E Main St · Council Grove, KS 66846

$164,900

4 bd · 2.0 ba · 1,586 sqft · SingleFamily public records · 126 Days on market

Built 1900 4,200 sqft lot ↓ 15% 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).

• Cash flow +8.5/30.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.4/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0

Key facts

• Hvac
• Updated windows
• New flooring

Tags

• NEW ROOF
• HVAC
• UPDATED WINDOWS
• NEW FLOORING
• REMODELED BATHROOMS
• NEW KITCHEN APPLIANCES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-146 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (23.7% below list).
• Recommended offer: $126k (23.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#22 in KS, #2,091 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, employment C-, commute F.
• Morris County (rural): math 39% / reading 41% proficiency, ranked #34 of 169 in KS (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Council Grove Elementary School (math 37% / reading 47%, grade F, #273 of 684 statewide, top 45%, 352 students, 56% FRL); Council Grove Junior Senior High School (math 37% / reading 32%, grade F, #32 of 327 statewide, top 13%, 350 students, 50% FRL) — zoned schools average 53% FRL vs 35% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 28 active listings in the ZIP; 1 units permitted in Morris County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($1k loan paydown + $8k appreciation (5.1% local appreciation)).
• Morris County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,768 (23.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 5.23%
• Cash-on-cash: -3.80%
• DSCR: 0.83
• GRM: 10.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.0%
• Equity multiple: 1.65×
• Total profit: $29,918
• Equity at exit: $94,715

10-year hold

• IRR: 11.5%
• Equity multiple: 3.12×
• Total profit: $98,001
• Equity at exit: $164,522

Cash invested: $46,172 (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 66846

• Home prices YoY: 2.7%
• Active inventory: 28
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,258 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,474/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $-146

Break-even live

Break-even rent $1,443

Max offer price $143,771

Occupancy floor —

Sensitivity live

Price	-10% $-32	-5% $-89	+0% $-146	+5% $-203	+10% $-260
Rent	-10% $-245	-5% $-196	+0% $-146	+5% $-96	+10% $-47
Rate	-1.0pp $-63	-0.5pp $-104	base $-146	+0.5pp $-189	+1.0pp $-232

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-03-16
   status Pending
2. 2026-02-26
   price $164,900
3. 2025-12-19
   status Active
4. 2025-12-09
   status Pending
5. 2025-10-30
   listed $179,900 Active
6. 2025-10-22
   price $179,900
7. 2025-06-17
   price $194,900

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,092
• − Mortgage interest: −$9,237
• − Property taxes: −$2,474
• − Insurance: −$824
• − Repairs & maintenance: −$1,207
• − Management: −$1,207
• − Depreciation: −$4,797
• Taxable loss: −$4,655
• Est. tax savings @ 24.0%: +$1,117
• After-tax cash flow: $-635/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: Morris County
• NCES district ID: 2005280
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $44,531
• Composite: 33.97/100
• National rank: #5325
• State rank: #34 of 169 in KS

Livability — Council Grove

• Score: 79/100
• State rank: #22
• US rank: #2091

Category grades

Amenities C- 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: Council Grove, KS
• Population (ZIP): 3,331

Population outlook (Morris County) Hauer SSP2

• Today (2025): 5,249 people
• By 2030: 5,035 · -4.1%
• By 2040: 4,640 · -11.6%
• By 2050: 4,331 · -17.5%
• By 2075: 3,990 · -24.0%
• By 2100: 3,696 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Morris

• 2024 margin: Solid R (+46.6) · D 25.8% · R 72.4% · Other 1.8%
• 2008→2024 swing: -12.5pp toward R · 2008: -34.1pp · 2024: -46.6pp
• All cycles: 2024: R+46.6 2020: R+47.9 2016: R+46.9 2012: R+41.4 2008: R+34.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.13%
• Current HPI: 197.7492
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-15.4% since first listed

7 events — show timeline

• 2026-03-16 Pending — FHAOR as distributed by MLS GRID
• 2026-02-26 Price Changed $164,900 FHAOR as distributed by MLS GRID
• 2025-12-19 Relisted — FHAOR as distributed by MLS GRID
• 2025-12-09 Pending — FHAOR as distributed by MLS GRID
• 2025-10-30 Listed $179,900 FHAOR as distributed by MLS GRID
• 2025-10-22 Price Changed $179,900 FHAOR as distributed by MLS GRID
• 2025-06-17 Price Changed $194,900 FHAOR as distributed by MLS GRID