305 E Forest St · Pittsburg, KS 66762

$45,000

3 bd · 1.0 ba · 928 sqft · SingleFamily public records · 94 Days on market

Built 1920 5,301 sqft lot $48/sqft · 54% below area

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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
• 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

Listing remarks MLS

The perfect size with the right price. This 3-bedroom home with central heat and air is just the right size.

Key facts

• 5,301 sq ft lot
• Built 1920
• Listed 93 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($950 rent vs $45k).
• Recommended offer: $41k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.2% 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; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 65 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $10k; list at $45k implies a 329% 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 $40,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% 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 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: 2.11% ✓
• Cap rate: 18.23%
• Cash-on-cash: 42.63%
• DSCR: 2.90
• GRM: 3.9

CMA / ARV

• ARV (median comp): $97,637
• List price: $45,000
• Delta: -53.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 S Joplin St	0.03mi	3/1.0	881 (-5%)	1mo	$38,000	$43	89
303 E Euclid St	0.14mi	2/2.0 (-1)	1,018 (+10%)	8mo	$178,500	$175	62
304 N Miles St	0.73mi	3/1.0	944 (+2%)	1mo	$92,500	$98	62
306 E Adams St	0.23mi	2/2.0 (-1)	1,018 (+10%)	4mo	$159,900	$157	61
511 E Washington St	0.25mi	3/2.0	1,040 (+12%)	4mo	$145,000	$139	61
409 E Monroe St	0.34mi	2/1.0 (-1)	860 (-7%)	7mo	$42,500	$49	61
416 E Jackson St	0.51mi	2/1.0 (-1)	864 (-7%)	2mo	$89,900	$104	58
208 W Forest St	0.39mi	2/2.0 (-1)	1,004 (+8%)	6mo	$159,900	$159	54
202 W Jefferson St	0.46mi	2/1.0 (-1)	1,035 (+12%)	7mo	$135,000	$130	48
1418 S Joplin St	0.69mi	3/1.0	1,040 (+12%)	2mo	$59,900	$58	46
708 E 7th St	0.73mi	2/1.0 (-1)	860 (-7%)	7mo	$75,000	$87	43
712 E Jackson N/A	0.67mi	2/1.0 (-1)	818 (-12%)	1mo	$99,900	$122	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 44.9%
• Equity multiple: 3.08×
• Total profit: $26,250
• Equity at exit: $6,710

10-year hold

• IRR: 53.0%
• Equity multiple: 7.55×
• Total profit: $82,468
• Equity at exit: $3,891

Cash invested: $12,600 (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: 3.9×

Monthly cashflow live

• Estimated rent: $950 high
• Mortgage (P&I): −$236
• Tax from tax record: −$48 /mo · $582/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $448

Break-even live

Break-even rent $384

Max offer price $45,000

Occupancy floor 48%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	43d	1	0.22mi
1108 S Joplin St Pittsburg, KS	2.0	1.5	850	$775	$0.91	43d	2	0.43mi
511 W 2nd St Pittsburg, KS	2.0	1.0	846	$850	$1.00	43d	1	0.69mi
1802 S Pine St Unit 2 Pittsburg, KS	2.0	1.0	627	$999	$1.59	43d	1	1.03mi
1902 S Broadway St Pittsburg, KS	2.0	1.0	533	$999	$1.87	20d	6	1.07mi

Listing history 22 events

1. 2026-06-19
   days on market $45,000 Active 94 DOM
2. 2026-06-18
   days on market $45,000 Active 93 DOM
3. 2026-06-17
   days on market $45,000 Active 92 DOM
4. 2026-06-16
   days on market $45,000 Active 91 DOM
5. 2026-06-15
   days on market $45,000 Active 90 DOM
6. 2026-06-14
   days on market $45,000 Active 88 DOM
7. 2026-06-13
   days on market $45,000 Active 87 DOM
8. 2026-06-10
   days on market $45,000 Active 85 DOM
9. 2026-06-09
   days on market $45,000 Active 84 DOM
10. 2026-06-08
    days on market $45,000 Active 83 DOM
11. 2026-06-07
    days on market $45,000 Active 82 DOM
12. 2026-06-05
    days on market $45,000 Active 79 DOM
13. 2026-06-03
    days on market $45,000 Active 78 DOM
14. 2026-06-02
    days on market $45,000 Active 77 DOM
15. 2026-06-01
    days on market $45,000 Active 76 DOM
16. 2026-05-31
    days on market $45,000 Active 75 DOM
17. 2026-05-30
    days on market $45,000 Active 74 DOM
18. 2026-03-17
    listed $45,000 Active 108-char remark

    Show marketing remark (108 chars)

    The perfect size with the right price. This 3-bedroom home with central heat and air is just the right size.

19. 2011-06-20
    soldstatus
20. 2003-07-01
    soldstatus $10,500
21. 1999-07-01
    soldstatus $6,777
22. 1996-04-01
    soldstatus $7,000

ⓘ 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: $582 · $48/mo
• Projected year-2 tax: $634 · $53/mo
• Expected delta: +$53/yr (+$4/mo · 9.1%)

ⓘ 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: $11,405
• − Mortgage interest: −$2,521
• − Property taxes: −$582
• − Insurance: −$225
• − Repairs & maintenance: −$912
• − Management: −$912
• − Depreciation: −$1,309
• Taxable income: $4,944
• Est. tax owed @ 24.0%: −$1,187
• After-tax cash flow: $4,185/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

+542.9% since first listed

5 events — show timeline

• 2026-03-17 Listed $45,000 Heartland MLS as Distributed by MLS Grid
• 2011-06-20 Sold (Public Records) — Public Records
• 2003-07-01 Sold (Public Records) $10,500 Public Records
• 1999-07-01 Sold (Public Records) $6,777 Public Records
• 1996-04-01 Sold (Public Records) $7,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $582 · +9.2% YoY. Source: county tax records.