403 W 1st St. St · Bison, KS 67520

$145,000

3 bd · 1.0 ba · 1,570 sqft · SingleFamily public records · 133 Days on market

Built 1910 1,200 sqft lot ↓ 17% since listing

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Why this score? — see what drove the D 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 +11.6/30.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Hot tub
• Pool
• Storage sheds

Tags

• PRIVACY-FENCED BACKYARD
• POOL
• HOT TUB
• ENTERTAINMENT SHED AREA
• FOUR DETACHED GARAGES
• STORAGE SHEDS

Property features AI

Exterior

• Parking: 3-car garage
• Utilities: Public water; Public sewer; Cable available; Natural gas available
• Home design: Residential property; Single-story, entry level 1
• Exterior features: Outdoor private pool; Spa / hot tub

Interior

• Kitchen: Dishwasher; Range; Oven; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Partial basement; 8 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-44 ($-527/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (16.4% below list).
• Recommended offer: $121k (16.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#486 in KS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, schools F.
• Otis-Bison (rural): math 25% / reading 30% proficiency, ranked #200 of 280 in KS (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 2 active listings in the ZIP; 1 units permitted in Rush County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.7% local appreciation)).
• Rush County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,280 (16.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.84% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.30%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.31×
• Total profit: $12,528
• Equity at exit: $62,902

10-year hold

• IRR: 8.6%
• Equity multiple: 2.26×
• Total profit: $51,284
• Equity at exit: $95,192

Cash invested: $40,600 (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 67520

• Home prices YoY: 1.3%
• Active inventory: 2
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,213 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $-44

Break-even live

Break-even rent $1,268

Max offer price $138,640

Occupancy floor 99%

Sensitivity live

Price	-10% $56	-5% $6	+0% $-44	+5% $-94	+10% $-144
Rent	-10% $-140	-5% $-92	+0% $-44	+5% $4	+10% $52
Rate	-1.0pp $29	-0.5pp $-7	base $-44	+0.5pp $-82	+1.0pp $-120

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $145,000 Active 133 DOM
2. 2026-06-18
   days on market $145,000 Active 132 DOM
3. 2026-06-17
   days on market $145,000 Active 131 DOM
4. 2026-06-16
   days on market $145,000 Active 130 DOM
5. 2026-06-15
   days on market $145,000 Active 129 DOM
6. 2026-06-14
   days on market $145,000 Active 127 DOM
7. 2026-06-12
   days on market $145,000 Active 126 DOM
8. 2026-06-09
   days on market $145,000 Active 123 DOM
9. 2026-06-08
   days on market $145,000 Active 122 DOM
10. 2026-06-07
    days on market $145,000 Active 121 DOM
11. 2026-06-05
    days on market $145,000 Active 119 DOM
12. 2026-06-03
    days on market $145,000 Active 117 DOM
13. 2026-06-02
    days on market $145,000 Active 116 DOM
14. 2026-06-01
    days on market $145,000 Active 115 DOM
15. 2026-05-31
    days on market $145,000 Active 114 DOM
16. 2026-05-30
    days on market $145,000 Active 113 DOM
17. 2026-05-12
    price $145,000
18. 2026-02-06
    listed $175,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 17 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: $14,554
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,164
• − Management: −$1,164
• − Depreciation: −$4,218
• Taxable loss: −$3,015
• Est. tax savings @ 24.0%: +$724
• After-tax cash flow: $196/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: Otis-Bison
• NCES district ID: 2004020
• Math proficiency: 25% ▬ 0.00%
• Reading proficiency: 30% ▼ -5.00%
• Median HH income: $43,813
• Composite: 26.47/100
• National rank: #12636
• State rank: #200 of 280 in KS

Livability — Bison

• Score: 59/100
• State rank: #486
• US rank: #20473

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bison, KS
• Population (ZIP): 335

Population outlook (Rush County) Hauer SSP2

• Today (2025): 2,979 people
• By 2030: 2,889 · -3.0%
• By 2040: 2,706 · -9.2%
• By 2050: 2,568 · -13.8%
• By 2075: 2,417 · -18.9%
• By 2100: 2,127 · -28.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 12% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Scotch-Irish 16% Serbian 3% Italian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Rush

• 2024 margin: Solid R (+65.4) · D 16.4% · R 81.9% · Other 1.7%
• 2008→2024 swing: -25.0pp toward R · 2008: -40.5pp · 2024: -65.4pp
• All cycles: 2024: R+65.4 2020: R+64.9 2016: R+64.5 2012: R+51.0 2008: R+40.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.72%
• Current HPI: 206.4668
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-17.1% since first listed

2 events — show timeline

• 2026-05-12 Price Changed $145,000 Hays MLS
• 2026-02-06 Listed $175,000 Hays MLS