Factor in financing to see your actual return on invested capital in Salina.
$
$43,750
%
%
years
$
taxes + ins + maint + mgmt
$
$
Cash-on-Cash Return
-5.75%Weak
Annual Cash Flow ÷ Total Cash Invested
Total Cash Invested
$49,000
$43,750 down + $5,250 closing
Monthly Mortgage
$856
on $131K loan
Monthly Cash Flow
$-235
after all expenses
Annual Cash Flow
$-2,816
before taxes
Cash Flow Breakdown
Monthly Rent$1,070
Less Expenses−$449
Less Mortgage−$856
Monthly Cash Flow$-235
Is Salina a Good Place to Invest in Rental Property?
Salina, KS has a population of 50,000 and has been growing at 0.7% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $175,000 paired with median rents of $1,070/mo produces an estimated cap rate of 4.77%.
Property taxes at 1.38% fall within the national average range and shouldn't present unusual challenges. The vacancy rate of 5.3% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 3.2x, homes cost about 3.2 times the local median income of $55,200. This relatively affordable ratio suggests a deep pool of renters who find buying out of reach, supporting rental demand. Home values have appreciated at roughly 2.5% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Salina presents moderate opportunities. Cap rates near 4.77% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.
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