715 Boone St · Madison, KS 66801

$27,500

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 45 Days on market

Built 1935 0.34 ac lot

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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
• Schools +4.0/10.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Larger yard
• Main floor laundry
• Central air

Tags

• GENEROUS SIZED KITCHEN
• DOUBLE CAR DETACHED GARAGE
• LARGER YARD
• MAIN FLOOR LAUNDRY
• HIGH EFFICIENCY FURNACE
• CENTRAL AIR

Property features AI

Finance

• Financial info: Annual tax amount listed

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Composition roof; Other construction materials; Above-grade finished area: 1,000
• Exterior features: Deck

Interior

• Flooring: Hardwood; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Ductless heating; Gas cooling
• Interior features: Storm windows; Block and crawl space basement
• Laundry & utility: Laundry on main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $28k.

Deal economics

• At list price, monthly cash flow is $585 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($981 rent vs $28k).
• Recommended offer: $27k (3.0% 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: crime F, amenities F, commute 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.
• Zoned schools: Madison High (math 24% / reading 15%, grade F, #198 of 327 statewide, top 66%, 95 students, 48% FRL).
• Zoned-school proficiency averages 20% at this address vs 45% district-wide (-25 pts) — the specific schools serving this property underperform the Madison-Virgil average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.8%/yr); 162 active listings in the ZIP; 3 units permitted in Greenwood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $190 of loan paydown is wiped out by about $825 of value loss. Plan a longer hold.
• Greenwood County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 2.8% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($27k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $10k; list at $28k implies a 175% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $26,675 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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. 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.
7. 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.
8. 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: 3.57% ✓
• Cap rate: 31.81%
• Cash-on-cash: 91.13%
• DSCR: 5.05
• GRM: 2.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.78% rent growth · sell at horizon

5-year hold

• IRR: 91.6%
• Equity multiple: 5.23×
• Total profit: $32,586
• Equity at exit: $4,100

10-year hold

• IRR: 94.4%
• Equity multiple: 10.81×
• Total profit: $75,509
• Equity at exit: $2,378

Cash invested: $7,700 (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 66801

• Rents YoY: 2.8%
• Active inventory: 162
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $981 medium
• Mortgage (P&I): −$144
• Tax est. 1.5%: −$34 /mo · $412/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $585

Break-even live

Break-even rent $241

Max offer price $27,500

Occupancy floor 35%

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: $6,875
• Closing costs: $825
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $27,500 Active 45 DOM
2. 2026-06-17
   days on market $27,500 Active 44 DOM
3. 2026-06-16
   days on market $27,500 Active 43 DOM
4. 2026-06-15
   days on market $27,500 Active 42 DOM
5. 2026-06-13
   days on market $27,500 Active 40 DOM
6. 2026-06-12
   days on market $27,500 Active 39 DOM
7. 2026-06-09
   days on market $27,500 Active 36 DOM
8. 2026-06-08
   days on market $27,500 Active 35 DOM
9. 2026-06-07
   days on market $27,500 Active 34 DOM
10. 2026-06-05
    days on market $27,500 Active 32 DOM
11. 2026-06-04
    days on market $27,500 Active 30 DOM
12. 2026-06-02
    days on market $27,500 Active 29 DOM
13. 2026-06-01
    days on market $27,500 Active 28 DOM
14. 2026-05-31
    days on market $27,500 Active 27 DOM
15. 2026-05-31
    days on market $27,500 Active 26 DOM
16. 2026-05-04
    listed $29,500 Active
17. 2009-09-01
    soldstatus $10,000
18. 2008-02-01
    soldstatus $18,500
19. 2002-08-01
    soldstatus $18,500

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $11,769
• − Mortgage interest: −$1,540
• − Property taxes: −$412
• − Insurance: −$138
• − Repairs & maintenance: −$942
• − Management: −$942
• − Depreciation: −$800
• Taxable income: $6,996
• Est. tax owed @ 24.0%: −$1,679
• After-tax cash flow: $5,338/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
• County: Lyon County · 27,585 people
• Metro: Emporia, KS
• Population (ZIP): 27,585
• Household income: $56,794
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1054.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 27% Two or more races 20% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Italian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 17%

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: ▼ -186.93%
• Current HPI: 186.0786
• Rent YoY: ▲ 2.78%
• Metro: Emporia, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+59.5% since first listed

4 events — show timeline

• 2026-05-04 Listed $29,500 Sunflower MLS as distributed by MLS GRID
• 2009-09-01 Sold (Public Records) $10,000 Public Records
• 2008-02-01 Sold (Public Records) $18,500 Public Records
• 2002-08-01 Sold (Public Records) $18,500 Public Records