28 Harris

Rose Hill, KS 67133

$216,990D

4 bd · 2.0 ba · 2,253 sqft · Built 1976 · SingleFamily · Active · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,010/mo
• Mortgage (P&I): −$1,138
• Tax + insurance: −$378
• HOA: −$0
• Vac / Maint / Mgmt: −$422
• Net cashflow: $72/mo
• Annual: $864/yr
• Cap rate: 6.69%
• Cash-on-cash: 1.42%
• DSCR: 1.06
• 1% rule: 0.93%
• Cash to close: $60,757

Investor read

• This is a 4-bed/2.0-bath single-family listed at $217k.
• At list price, monthly cash flow is $72 ($864/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 $201k (7.4% below list).
• It's been on market 90 days — a 6% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $201k (7.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#48 in KS, #3,368 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• Rose Hill Public Schools (rural): math 26% / reading 33% proficiency, ranked #84 of 169 in KS (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Rose Hill Primary (457 students, 36% FRL); Rose Hill Middle (math 19% / reading 29%, grade F, #121 of 219 statewide, top 56%, 378 students, 38% FRL); Rose Hill High (math 8% / reading 17%, grade F, #278 of 327 statewide, top 86%, 567 students, 27% FRL).
• Market conditions: 42 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 235 units permitted in Butler County in 2024 (0 in 5+ unit buildings).
• 3 sale attempts since 24y ago; this cycle's ask has dropped $13k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 90 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.