1821 S Main St · Galena, KS 66739

$54,000

3 bd · 1.5 ba · 1,829 sqft · SingleFamily public records · 17 Days on market

Built 1900 0.32 ac lot

---

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
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special - 2-Story Corner Lot Opportunity Attention investors! This 2-story home on a prominent corner lot is bursting with potential and ready for your next renovation project. With solid structure and a traditional layout, this property offers a prime opportunity to add value through updates and repairs. Featuring good square footage, and a desirable lot with great street presence, this home is ideal for a flip, rental portfolio addition, or long-term hold. The corner lot provides additional curb appeal and flexibility for future improvements. Located in an established neighborhood with strong resale potential and convenient access to schools, shopping, and major roads, this is the kind of value-add opportunity investors look for. Put your vision to work—this is your chance to turn potential into profit.

Key facts

• Convenient access
• 2 story
• Solid structure

Tags

• 2 STORY
• CORNER LOT
• SOLID STRUCTURE
• ESTABLISHED NEIGHBORHOOD
• CONVENIENT ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $54k.

Deal economics

• At list price, monthly cash flow is $682 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $54k).
• Recommended offer: $53k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#239 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools F, crime F, amenities F.
• Galena (town): math 23% / reading 35% proficiency, ranked #118 of 169 in KS (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 55 active listings in the ZIP; 17 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $373 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Cherokee County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $45k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,190 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
4. 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?
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: 2.44% ✓
• Cap rate: 21.45%
• Cash-on-cash: 54.12%
• DSCR: 3.41
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $219,480
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1620 Lincoln Dr	0.27mi	3/2.0	1,692 (-8%)	22mo	$134,000	$79	55
2620 Hickory Hills Rd	0.65mi	3/2.0	1,687 (-8%)	2mo	$225,000	$133	53
625 E 21st St	0.40mi	4/3.0 (+1)	1,572 (-14%)	0mo	$189,000	$120	47
1202 Wall St	0.51mi	4/1.5 (+1)	2,102 (+15%)	10mo	$65,000	$31	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 52.3%
• Equity multiple: 3.29×
• Total profit: $34,692
• Equity at exit: $8,052

10-year hold

• IRR: 57.6%
• Equity multiple: 6.70×
• Total profit: $86,179
• Equity at exit: $4,669

Cash invested: $15,120 (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 66739

• Home prices YoY: -15.5%
• Active inventory: 55
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,318 medium
• Mortgage (P&I): −$283
• Tax from tax record: −$54 /mo · $646/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $682

Break-even live

Break-even rent $455

Max offer price $54,000

Occupancy floor 43%

Sensitivity live

Price	-10% $712	-5% $697	+0% $682	+5% $667	+10% $651
Rent	-10% $578	-5% $630	+0% $682	+5% $734	+10% $786
Rate	-1.0pp $709	-0.5pp $696	base $682	+0.5pp $668	+1.0pp $654

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: $13,500
• Closing costs: $1,620
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2025-06-23
   status Pending

   Show marketing remark (834 chars)

   Investor Special - 2-Story Corner Lot Opportunity Attention investors! This 2-story home on a prominent corner lot is bursting with potential and ready for your next renovation project. With solid structure and a traditional layout, this property offers a prime opportunity to add value through updates and repairs. Featuring good square footage, and a desirable lot with great street presence, this home is ideal for a flip, rental portfolio addition, or long-term hold. The corner lot provides additional curb appeal and flexibility for future improvements. Located in an established neighborhood with strong resale potential and convenient access to schools, shopping, and major roads, this is the kind of value-add opportunity investors look for. Put your vision to work—this is your chance to turn potential into profit.

2. 2025-06-23
   status Pending 834-char remark

   Show marketing remark (834 chars)

   Investor Special - 2-Story Corner Lot Opportunity Attention investors! This 2-story home on a prominent corner lot is bursting with potential and ready for your next renovation project. With solid structure and a traditional layout, this property offers a prime opportunity to add value through updates and repairs. Featuring good square footage, and a desirable lot with great street presence, this home is ideal for a flip, rental portfolio addition, or long-term hold. The corner lot provides additional curb appeal and flexibility for future improvements. Located in an established neighborhood with strong resale potential and convenient access to schools, shopping, and major roads, this is the kind of value-add opportunity investors look for. Put your vision to work—this is your chance to turn potential into profit.

3. 2025-06-06
   listed $54,000 Active

   Show marketing remark (834 chars)

   Investor Special - 2-Story Corner Lot Opportunity Attention investors! This 2-story home on a prominent corner lot is bursting with potential and ready for your next renovation project. With solid structure and a traditional layout, this property offers a prime opportunity to add value through updates and repairs. Featuring good square footage, and a desirable lot with great street presence, this home is ideal for a flip, rental portfolio addition, or long-term hold. The corner lot provides additional curb appeal and flexibility for future improvements. Located in an established neighborhood with strong resale potential and convenient access to schools, shopping, and major roads, this is the kind of value-add opportunity investors look for. Put your vision to work—this is your chance to turn potential into profit.

4. 2025-06-06
   listed $54,000 Active 834-char remark

   Show marketing remark (834 chars)

   Investor Special - 2-Story Corner Lot Opportunity Attention investors! This 2-story home on a prominent corner lot is bursting with potential and ready for your next renovation project. With solid structure and a traditional layout, this property offers a prime opportunity to add value through updates and repairs. Featuring good square footage, and a desirable lot with great street presence, this home is ideal for a flip, rental portfolio addition, or long-term hold. The corner lot provides additional curb appeal and flexibility for future improvements. Located in an established neighborhood with strong resale potential and convenient access to schools, shopping, and major roads, this is the kind of value-add opportunity investors look for. Put your vision to work—this is your chance to turn potential into profit.

5. 2008-08-01
   soldstatus $45,000
6. 2006-04-01
   soldstatus $75,000
7. 2002-09-01
   soldstatus $26,500
8. 1995-08-01
   soldstatus $26,500

ⓘ 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: $646 · $54/mo
• Projected year-2 tax: $761 · $63/mo
• Expected delta: +$116/yr (+$10/mo · 17.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥107°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: $15,819
• − Mortgage interest: −$3,025
• − Property taxes: −$646
• − Insurance: −$270
• − Repairs & maintenance: −$1,265
• − Management: −$1,265
• − Depreciation: −$1,571
• Taxable income: $7,776
• Est. tax owed @ 24.0%: −$1,866
• After-tax cash flow: $6,317/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: Galena
• NCES district ID: 2006360
• Math proficiency: 23% ▼ -1.00%
• Reading proficiency: 35% ▲ 6.00%
• Median HH income: $38,223
• Composite: 24.21/100
• National rank: #7727
• State rank: #118 of 169 in KS

Livability — Galena

• Score: 67/100
• State rank: #239
• US rank: #10647

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Galena, KS
• Population (ZIP): 5,240

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 18,848 people
• By 2030: 17,862 · -5.2%
• By 2040: 15,850 · -15.9%
• By 2050: 13,915 · -26.2%
• By 2075: 10,102 · -46.4%
• By 2100: 6,977 · -63.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 11% Native American 2% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Italian 2% Swedish 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 99% English-only · Chinese 1%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+52.9) · D 22.6% · R 75.5% · Other 1.9%
• 2008→2024 swing: -29.2pp toward R · 2008: -23.7pp · 2024: -52.9pp
• All cycles: 2024: R+52.9 2020: R+49.9 2016: R+48.4 2012: R+29.5 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.57%
• Current HPI: 172.0001
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+103.8% since first listed

8 events — show timeline

• 2025-06-23 Pending — Heartland MLS as Distributed by MLS Grid
• 2025-06-23 Pending — OGAR
• 2025-06-06 Listed $54,000 OGAR
• 2025-06-06 Listed $54,000 Heartland MLS as Distributed by MLS Grid
• 2008-08-01 Sold (Public Records) $45,000 Public Records
• 2006-04-01 Sold (Public Records) $75,000 Public Records
• 2002-09-01 Sold (Public Records) $26,500 Public Records
• 1995-08-01 Sold (Public Records) $26,500 Public Records

Property tax history

-2.3%/yr

Latest (2025): $646 · +7.8% YoY. Source: county tax records.