100 W Adams St · Pittsburg, KS 66762

$115,000

2 bd · 2.0 ba · 1,174 sqft · MultiFamily public records · 374 Days on market

Built 1920 3,600 sqft lot Est $152k · 24% under ↓ 24% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Livability +3.3/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Duplex conveniently located near downtown and the University. Large open living room and large open kitchen with plenty of oak cabinets. Energy efficient furnace

Key facts

• Near the university
• Near downtown
• Conveniently located

Tags

• CONVENIENTLY LOCATED
• NEAR DOWNTOWN
• NEAR THE UNIVERSITY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $115k.

Deal economics

• At list price, monthly cash flow is $687 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 5.4% in Pittsburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#270 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A; Watch: schools D, crime F, amenities F.
• Pittsburg (town): math 29% / reading 31% proficiency, ranked #111 of 169 in KS (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+13.8%/yr); 139 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% of comp listings sitting > 30 days — soft ceiling on asking rent; 65 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 374 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $39k; list at $115k implies a 195% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 374 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.53% ✓
• Cap rate: 13.46%
• Cash-on-cash: 25.59%
• DSCR: 2.14
• GRM: 5.4

CMA / ARV

• ARV (median comp): $151,858
• List price: $115,000
• Delta: -24.27%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 2.07×
• Total profit: $34,395
• Equity at exit: $17,147

10-year hold

• IRR: 35.1%
• Equity multiple: 4.99×
• Total profit: $128,565
• Equity at exit: $9,943

Cash invested: $32,200 (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 66762

• Rents YoY: 13.8%
• Active inventory: 139
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,763 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$55 /mo · $660/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $687

Break-even live

Break-even rent $894

Max offer price $115,000

Occupancy floor 56%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,764
Total (2 units)			$1,763

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
404 E Adams St Unit A Pittsburg, KS	2.0	1.0	750	$800	$1.07	44d	1	0.36mi
1108 S Joplin St Pittsburg, KS	2.0	1.5	850	$775	$0.91	44d	2	0.41mi
101 S Elm St Pittsburg, KS	1.0	1.0	800	$600	$0.75	44d	1	0.48mi
511 W 2nd St Pittsburg, KS	2.0	1.0	846	$850	$1.00	44d	1	0.58mi
719 E Madison St Apt A Pittsburg, KS	3.0	3.0	1300	$1,200	$0.92	44d	1	0.80mi
1902 S Broadway St Pittsburg, KS	2.0	1.0	533	$999	$1.87	21d	6	0.90mi
102 Creekside Way Pittsburg, KS	2.0	2.0	1450	$2,000	$1.38	44d	2	1.29mi

Listing history 6 events

1. 2026-05-31
   days on market $115,000 Active 374 DOM
2. 2026-05-30
   days on market $115,000 Active 373 DOM
3. 2025-06-20
   price $115,000 161-char remark

   Show marketing remark (161 chars)

   Duplex conveniently located near downtown and the University. Large open living room and large open kitchen with plenty of oak cabinets. Energy efficient furnace

4. 2025-05-22
   listed $125,000 Active 161-char remark

   Show marketing remark (161 chars)

   Duplex conveniently located near downtown and the University. Large open living room and large open kitchen with plenty of oak cabinets. Energy efficient furnace

5. 2009-01-01
   soldstatus $39,000
6. 2006-06-01
   soldstatus $151,000

ⓘ 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: $660 · $55/mo
• Projected year-2 tax: $1,622 · $135/mo
• Expected delta: +$961/yr (+$80/mo · 145.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $21,156
• − Mortgage interest: −$6,442
• − Property taxes: −$660
• − Insurance: −$575
• − Repairs & maintenance: −$1,692
• − Management: −$1,692
• − Depreciation: −$3,345
• Taxable income: $6,749
• Est. tax owed @ 24.0%: −$1,620
• After-tax cash flow: $6,622/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: Pittsburg
• NCES district ID: 2010710
• Math proficiency: 29% ▼ -5.00%
• Reading proficiency: 31% ▼ -4.00%
• Median HH income: $33,608
• Composite: 24.63/100
• National rank: #7629
• State rank: #111 of 169 in KS

Livability — Pittsburg

• Score: 66/100
• State rank: #270
• US rank: #12149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsburg, KS
• County: Crawford County · 24,907 people
• City population: 24,907
• Metro: Pittsburg, KS
• Population (ZIP): 24,907
• Household income: $50,511
• Rent vs Own: 46.7% rent · 53.3% own
• Severe rent burden: 1186.0

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 39,393 people
• By 2030: 39,540 · +0.4%
• By 2040: 39,452 · +0.1%
• By 2050: 39,188 · -0.5%
• By 2075: 39,038 · -0.9%
• By 2100: 38,219 · -3.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 10% Two or more races 5% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 6% Other Asian/Pacific 1%

Political lean MEDSL · Crawford

• 2024 margin: Strong R (+25.3) · D 36.5% · R 61.7% · Other 1.8%
• 2008→2024 swing: -26.7pp toward R · 2008: 1.4pp · 2024: -25.3pp
• All cycles: 2024: R+25.3 2020: R+23.1 2016: R+23.1 2012: R+6.5 2008: D+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.14%
• Current HPI: 158.7878
• Rent YoY: ▲ 13.80%
• Metro: Pittsburg, KS
• State GDP YoY: —
• F500 in state: 0

Price history

-23.8% since first listed

4 events — show timeline

• 2025-06-20 Price Changed $115,000 Heartland MLS as Distributed by MLS Grid
• 2025-05-22 Listed $125,000 Heartland MLS as Distributed by MLS Grid
• 2009-01-01 Sold (Public Records) $39,000 Public Records
• 2006-06-01 Sold (Public Records) $151,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $660 · +10.9% YoY. Source: county tax records.