401 Main St · Kismet, KS 67859

$58,000

3 bd · 1.0 ba · 1,518 sqft · SingleFamily public records · 491 Days on market

Built 1920 7,840 sqft 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Key facts

• Front porch swing
• Updated electrical
• Gas stove

Tags

• CORNER LOT
• FRONT PORCH SWING
• TANKLESS HOT WATER HEATER
• UPDATED ELECTRICAL
• CLAW FOOT BATH TUB
• GAS STOVE

Property features AI

Finance

• Other: Listing broker: Heritage Real Estate Group, Inc
• Financial info: Annual tax amount listed

Exterior

• Parking: 2-car garage
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; 2-story
• Construction: Vinyl siding; Composition roof; Partial basement
• Exterior features: Covered patio/porch; 56 x 140 lot dimensions; Lot is approximately 0.18 acre; Zoned for single-family dwelling

Interior

• Kitchen: Cooktop; Gas range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central heating
• Interior features: Cooktop; Gas range; Refrigerator; Gas water heater; Partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $523 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Recommended offer: $51k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#284 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Kismet-Plains (rural): math 12% / reading 16% proficiency, ranked #166 of 169 in KS (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 5 active listings in the ZIP; 23 units permitted in Seward County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($401 loan paydown + $1k appreciation (2.1% local appreciation)).
• Seward County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 491 days — a 12% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $51,040 (12.0% below list)

Questions for the listing agent

1. It's been on market 491 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 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?
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: 2.07% ✓
• Cap rate: 17.10%
• Cash-on-cash: 38.61%
• DSCR: 2.72
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.8%
• Equity multiple: 3.32×
• Total profit: $37,605
• Equity at exit: $23,214

10-year hold

• IRR: 43.6%
• Equity multiple: 6.59×
• Total profit: $90,761
• Equity at exit: $33,689

Cash invested: $16,240 (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 67859

• Home prices YoY: 1.6%
• Active inventory: 5
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,198 medium
• Mortgage (P&I): −$304
• Tax from tax record: −$95 /mo · $1,145/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $523

Break-even live

Break-even rent $536

Max offer price $58,000

Occupancy floor 51%

Sensitivity live

Price	-10% $555	-5% $539	+0% $523	+5% $506	+10% $490
Rent	-10% $428	-5% $475	+0% $523	+5% $570	+10% $617
Rate	-1.0pp $552	-0.5pp $537	base $523	+0.5pp $507	+1.0pp $492

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: $14,500
• Closing costs: $1,740
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $58,000 Active 491 DOM
2. 2026-06-18
   days on market $58,000 Active 489 DOM
3. 2026-06-17
   days on market $58,000 Active 488 DOM
4. 2026-06-16
   days on market $58,000 Active 487 DOM
5. 2026-06-15
   days on market $58,000 Active 486 DOM
6. 2026-06-13
   days on market $58,000 Active 484 DOM
7. 2026-06-12
   days on market $58,000 Active 483 DOM
8. 2026-06-09
   days on market $58,000 Active 480 DOM
9. 2026-06-08
   days on market $58,000 Active 479 DOM
10. 2026-06-07
    days on market $58,000 Active 478 DOM
11. 2026-06-05
    days on market $58,000 Active 476 DOM
12. 2026-06-04
    days on market $58,000 Active 474 DOM
13. 2026-06-02
    days on market $58,000 Active 473 DOM
14. 2026-06-01
    days on market $58,000 Active 472 DOM
15. 2026-05-31
    days on market $58,000 Active 471 DOM
16. 2026-05-31
    days on market $58,000 Active 470 DOM
17. 2025-02-14
    listed $58,000 Active
18. 2023-08-23
    historical
19. 2023-04-27
    status Active
20. 2023-04-26
    historical
21. 2022-07-29
    listed $58,000 Active

ⓘ 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: $1,145 · $95/mo
• Projected year-2 tax: $1,145 · $95/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,373
• − Mortgage interest: −$3,249
• − Property taxes: −$1,145
• − Insurance: −$290
• − Repairs & maintenance: −$1,150
• − Management: −$1,150
• − Depreciation: −$1,687
• Taxable income: $5,703
• Est. tax owed @ 24.0%: −$1,369
• After-tax cash flow: $4,902/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: Kismet-Plains
• NCES district ID: 2008190
• Math proficiency: 12% ▼ -12.00%
• Reading proficiency: 16% ▼ -2.00%
• Median HH income: $49,718
• Composite: 12.9/100
• National rank: #9584
• State rank: #166 of 169 in KS

Livability — Kismet

• Score: 65/100
• State rank: #284
• US rank: #12775

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kismet, KS
• Population (ZIP): 648

Population outlook (Seward County) Hauer SSP2

• Today (2025): 24,106 people
• By 2030: 24,590 · +2.0%
• By 2040: 25,797 · +7.0%
• By 2050: 27,053 · +12.2%
• By 2075: 30,074 · +24.8%
• By 2100: 31,968 · +32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 32% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Iranian 3% Italian 1% Scottish 1%
• Foreign-born: 18% · Canada, China, Philippines
• Languages at home: 76% English-only · Spanish 23% Other Asian/Pacific 1%

Political lean MEDSL · Seward

• 2024 margin: Solid R (+39.0) · D 29.7% · R 68.6% · Other 1.7%
• 2008→2024 swing: +4.1pp toward D · 2008: -43.1pp · 2024: -39.0pp
• All cycles: 2024: R+39.0 2020: R+30.4 2016: R+32.3 2012: R+42.4 2008: R+43.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.11%
• Current HPI: 136.3828
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

5 events — show timeline

• 2025-02-14 Listed $58,000 SWKSBOR
• 2023-08-23 Delisted — SWKSBOR
• 2023-04-27 Relisted — SWKSBOR
• 2023-04-26 Delisted — SWKSBOR
• 2022-07-29 Listed $58,000 SWKSBOR

Property tax history

+5.0%/yr

Latest (2025): $1,145 · +51.2% YoY. Source: county tax records.