519 S E St · Herington, KS 67449

$79,900

2 bd · 1.0 ba · 1,724 sqft · SingleFamily · 36 Days on market

Built 1940 Average condition 7,100 sqft 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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Appreciation +5.1/10.0
• Livability +3.5/5.0
• Condition / age +2.8/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0

Key facts

• Ample cabinetry
• Unfinished basement
• Back deck

Tags

• HARDWOOD FLOORS
• AMPLE CABINETRY
• UNFINISHED BASEMENT
• BACK DECK
• WASHER AND DRYER HOOKUPS
• ADDITIONAL STORAGE SPACE

Property features AI

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Lot size approximately 0.16 acres
• Home design: Single-family residence; Residential property
• Construction: Wood siding construction
• Exterior features: Deck; Concrete road access

Interior

• Kitchen: Includes oven, range and refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Oven, Range, Refrigerator; Unfinished basement; No fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#170 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools F, amenities F.
• Herington (rural): math 28% / reading 33% proficiency, ranked #100 of 169 in KS (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 29 active listings in the ZIP; 26 units permitted in Dickinson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $706 of equity ($552 loan paydown + $154 appreciation (0.2% local appreciation)).
• Dickinson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.2% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1940 — 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 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. 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: 1.33% ✓
• Cap rate: 10.58%
• Cash-on-cash: 15.31%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.19% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 1.74×
• Total profit: $16,588
• Equity at exit: $23,974

10-year hold

• IRR: 19.6%
• Equity multiple: 3.20×
• Total profit: $49,232
• Equity at exit: $29,443

Cash invested: $22,372 (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 67449

• Home prices YoY: 0.1%
• Active inventory: 29
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,060 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $285

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 68%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $79,900 Active 36 DOM
2. 2026-06-17
   days on market $79,900 Active 35 DOM
3. 2026-06-16
   days on market $79,900 Active 34 DOM
4. 2026-06-15
   days on market $79,900 Active 33 DOM
5. 2026-06-13
   days on market $79,900 Active 31 DOM
6. 2026-06-12
   days on market $79,900 Active 30 DOM
7. 2026-06-09
   days on market $79,900 Active 27 DOM
8. 2026-06-08
   days on market $79,900 Active 26 DOM
9. 2026-06-07
   days on market $79,900 Active 25 DOM
10. 2026-06-05
    days on market $79,900 Active 23 DOM
11. 2026-06-04
    days on market $79,900 Active 21 DOM
12. 2026-06-02
    days on market $79,900 Active 20 DOM
13. 2026-06-01
    days on market $79,900 Active 19 DOM
14. 2026-05-31
    days on market $79,900 Active 18 DOM
15. 2026-05-31
    days on market $79,900 Active 17 DOM
16. 2026-05-12
    listed $79,900 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 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,724
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,018
• − Management: −$1,018
• − Depreciation: −$2,324
• Taxable income: $2,290
• Est. tax owed @ 24.0%: −$550
• After-tax cash flow: $2,876/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.

Condition & rehab AI · 13 photos

Average 55/100 Cosmetic rehab

This home is in average condition with some cosmetic updates needed to enhance its resale and rental value. The interior walls, flooring, and bathroom could all benefit from freshening up.

Repairs flagged

• Minor Kitchen backsplash — Worn appearance
• Minor Bathroom wallpaper — Dated appearance
• Minor Flooring — Worn appearance
• Minor Interior wall paint — Worn appearance

Value-add opportunities

• Both Paint the interior walls — Fresh paint can make the home more appealing and increase both resale and rental value.
• Both Refinish the hardwood flooring — Refinished flooring can add value and make the home more attractive to potential buyers or renters.
• Both Replace the dated wallpaper in the bathroom — A fresh bathroom can significantly boost the home's appeal and value.
• Both Landscaping improvements — A well-maintained yard can enhance curb appeal and add value to the home.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen backsplash · Worn appearance	Minor	$500–3,000
Bathroom wallpaper · Dated appearance	Minor	$500–3,000
Flooring · Worn appearance	Minor	$500–3,000
Interior wall paint · Worn appearance	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Both Paint the interior walls — Fresh paint can make the home more appealing and increase both resale and rental value. ↑
• Both Refinish the hardwood flooring — Refinished flooring can add value and make the home more attractive to potential buyers or renters. ↑
• Both Replace the dated wallpaper in the bathroom — A fresh bathroom can significantly boost the home's appeal and value. ↑
• Both Landscaping improvements — A well-maintained yard can enhance curb appeal and add value to the home. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Herington
• NCES district ID: 2007110
• Math proficiency: 28% ▼ -1.00%
• Reading proficiency: 33% ▼ -2.00%
• Median HH income: $39,012
• Composite: 25.55/100
• National rank: #7429
• State rank: #100 of 169 in KS

Livability — Herington

• Score: 70/100
• State rank: #170
• US rank: #8052

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Herington, KS
• Population (ZIP): 2,756

Population outlook (Dickinson County) Hauer SSP2

• Today (2025): 18,727 people
• By 2030: 18,312 · -2.2%
• By 2040: 17,433 · -6.9%
• By 2050: 16,493 · -11.9%
• By 2075: 14,441 · -22.9%
• By 2100: 11,707 · -37.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 0% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Dickinson

• 2024 margin: Solid R (+55.0) · D 21.8% · R 76.7% · Other 1.5%
• 2008→2024 swing: -12.8pp toward R · 2008: -42.2pp · 2024: -55.0pp
• All cycles: 2024: R+55.0 2020: R+54.1 2016: R+54.0 2012: R+47.7 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.19%
• Current HPI: 146.5368
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-12 Listed $79,900 FHAOR as distributed by MLS GRID