12 E 4th St · Lebo, KS 66856

$87,500

3 bd · 1.0 ba · 988 sqft · SingleFamily public records · 29 Days on market

Built 1925 0.28 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 +23.7/30.0
• Appreciation +10.0/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Livability +3.8/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 0.28 acre lot
• Garage
• Built 1925

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($915 rent vs $88k).
• Recommended offer: $86k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#47 in KS, #3,346 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Lebo-Waverly (rural): math 39% / reading 39% proficiency, ranked #33 of 169 in KS (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lebo High (math 32% / reading 34%, grade F, #47 of 327 statewide, top 14%, 122 students, 35% FRL) — zoned schools at 35% FRL track the district average.
• Market conditions: 9 active listings in the ZIP; 29 units permitted in Coffey County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($605 loan paydown + $9k appreciation (10.0% local appreciation)).
• Coffey County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,187 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.05% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.19%
• DSCR: 1.36
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.2%
• Equity multiple: 3.38×
• Total profit: $58,287
• Equity at exit: $78,827

10-year hold

• IRR: 26.2%
• Equity multiple: 7.66×
• Total profit: $163,241
• Equity at exit: $169,993

Cash invested: $24,500 (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 66856

• Home prices YoY: 8.1%
• Active inventory: 9
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $915 medium
• Mortgage (P&I): −$459
• Tax from tax record: −$61 /mo · $728/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $167

Break-even live

Break-even rent $704

Max offer price $87,500

Occupancy floor 77%

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: $21,875
• Closing costs: $2,625
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-18
   status Pending
2. 2026-04-01
   price $87,500
3. 2026-03-20
   listed $97,500 Active
4. 2016-08-25
   listed $69,900
5. 2007-10-01
   soldstatus $144,000
6. 1990-10-01
   soldstatus $10,500

ⓘ 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: $728 · $61/mo
• Projected year-2 tax: $1,234 · $103/mo
• Expected delta: +$506/yr (+$42/mo · 69.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,985
• − Mortgage interest: −$4,901
• − Property taxes: −$728
• − Insurance: −$438
• − Repairs & maintenance: −$879
• − Management: −$879
• − Depreciation: −$2,545
• Taxable income: $615
• Est. tax owed @ 24.0%: −$148
• After-tax cash flow: $1,859/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: Lebo-Waverly
• NCES district ID: 2012810
• Math proficiency: 39% ▲ 5.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $53,806
• Composite: 34.04/100
• National rank: #5307
• State rank: #33 of 169 in KS

Livability — Lebo

• Score: 76/100
• State rank: #47
• US rank: #3346

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lebo, KS
• Population (ZIP): 1,739

Population outlook (Coffey County) Hauer SSP2

• Today (2025): 8,172 people
• By 2030: 8,015 · -1.9%
• By 2040: 7,612 · -6.9%
• By 2050: 7,178 · -12.2%
• By 2075: 6,580 · -19.5%
• By 2100: 5,971 · -26.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Italian 22% Iranian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Coffey

• 2024 margin: Solid R (+55.7) · D 21.3% · R 77.0% · Other 1.6%
• 2008→2024 swing: -10.0pp toward R · 2008: -45.7pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+55.7 2016: R+57.3 2012: R+51.5 2008: R+45.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.64%
• Current HPI: 142.69
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+733.3% since first listed

6 events — show timeline

• 2026-04-18 Pending — Sunflower MLS as distributed by MLS GRID
• 2026-04-01 Price Changed $87,500 Sunflower MLS as distributed by MLS GRID
• 2026-03-20 Listed $97,500 Sunflower MLS as distributed by MLS GRID
• 2016-08-25 Listed $69,900 Sunflower MLS as distributed by MLS GRID
• 2007-10-01 Sold (Public Records) $144,000 Public Records
• 1990-10-01 Sold (Public Records) $10,500 Public Records

Property tax history

+4.7%/yr

Latest (2025): $728 · +15.2% YoY. Source: county tax records.