8543 Westgate St · Lenexa, KS 66215

$285,000

2 bd · 2.0 ba · 1,438 sqft · MultiFamily public records · 14 Days on market

Built 1981 2,363 sqft lot $265/mo HOA · 17% of rent

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Why this score? — see what drove the C- 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 +18.2/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• DSCR +5.7/10.0
• Livability +4.4/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Maintenance Provided! New flooring throughout! Freshly painted, all new fixtures, New granite and new ss appliances in kitchen. Large deck overlooking community pool.

Key facts

• $265 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Living area reported as 1,440 (above-grade finished area); Age estimate: 41–50 years; Lot size approximately 2,363 square feet
• HOA & community: Colchester Court homeowners association; Monthly HOA fee of $265; HOA amenities include clubhouse and pool; HOA fee covers all amenities, building maintenance, lawn service, management, roof repair and replacement, snow removal, trash, and maintenance-free services

Exterior

• Parking: Attached garage facing the front; 1-car garage
• Utilities: Public water; Public sewer
• Home design: Residential townhouse; Attached property; Raised 1.5-story floor plan
• Construction: Frame construction; Composition roof; Full basement
• Exterior features: Deck; City lot within city limits; Not in a flood plain

Interior

• Kitchen: Granite counters; Dishwasher; Refrigerator; Electric range; Stainless steel appliances; Eat-in kitchen
• Bedrooms: 2 bedrooms (one bedroom located on the second level; main floor primary bedroom present)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; Second-level bathroom with granite counters and shower-over-tub
• Heating & cooling: Natural gas heating; Electric cooling (central air)
• Interior features: Ceiling fans; Pantry; Walk-in closets; Window coverings; Skylights; Balcony/loft; Main floor bedroom; Main floor primary bedroom; Eat-in kitchen
• Laundry & utility: Laundry located at bedroom level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $285k).
• Cap rate 7.4% vs local median 2.9% in Lenexa — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 87/100 on livability (#3 in KS, #317 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+.
• Shawnee Mission Pub Schools (suburban): math 38% / reading 46% proficiency, ranked #22 of 169 in KS (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rising Star Elem (math 38% / reading 42%, grade F, #312 of 684 statewide, top 46%, 469 students, 49% FRL); Trailridge Middle (math 23% / reading 29%, grade F, #99 of 219 statewide, top 47%, 701 students, 43% FRL); Shawnee Mission Northwest High (math 27% / reading 38%, grade F, #49 of 327 statewide, top 15%, 1,626 students, 39% FRL) — zoned schools average 44% FRL vs 29% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.0%/yr); 83 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,969 units permitted in Johnson County in 2024 (1,066 in 5+ unit buildings).
• This rent runs 42% of the median local income ($88k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Johnson County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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.

Recommended offer $285,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 7.37%
• Cash-on-cash: 3.85%
• DSCR: 1.17
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.97% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.71×
• Total profit: $-23,524
• Equity at exit: $42,494

10-year hold

• IRR: 4.3%
• Equity multiple: 1.35×
• Total profit: $27,575
• Equity at exit: $24,642

Cash invested: $79,800 (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 66215

• Rents YoY: 5.0%
• Active inventory: 83
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $3,056 medium
• Mortgage (P&I): −$1,495
• Tax from tax record: −$280 /mo · $3,356/yr
• Insurance: −$119
• HOA: −$265
• Vacancy / Maint / Mgmt: −$642
• Net cashflow: $256

Break-even live

Break-even rent $2,732

Max offer price $285,000

Occupancy floor 87%

Sensitivity live

Price	-10% $418	-5% $337	+0% $256	+5% $176	+10% $95
Rent	-10% $15	-5% $136	+0% $256	+5% $377	+10% $498
Rate	-1.0pp $400	-0.5pp $329	base $256	+0.5pp $182	+1.0pp $107

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,056
Total (2 units)			$3,056

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12701 W 88th Cir Lenexa, KS	1.0–2.0	1.0–2.0	892	$1,691	$1.90	6d	1	0.39mi
8914 Gillette St Lenexa, KS	3.0	1.5	1510	$1,850	$1.23	18d	1	0.57mi
13245 W 87th Ter Lenexa, KS	1.0–2.0	1.0–2.0	747	$1,410	$1.89	0d	12	0.57mi
8939 Caenen Lake Rd Lenexa, KS	2.0	1.5	1500	$1,500	$1.00	23d	1	0.76mi
7613 Flint St Overland Park, KS	1.0–3.0	1.0–2.0	1000	$1,378	$1.38	0d	15	1.35mi
7613 Flint St Overland Park, KS	1.0–3.0	1.0–2.0	1000	$1,372	$1.37	12d	13	1.35mi

HOA detail

• Monthly dues: $265 · $3,180/yr
• Likely covers: pool

Listing history 11 events

1. 2026-05-14
   status Pending
2. 2026-05-02
   historical Active Under Contract
3. 2026-05-01
   listed $285,000 Active
4. 2026-04-02
   historical $285,000
5. 2021-09-20
   soldstatus
6. 2021-08-31
   soldstatus Closed 166-char remark

   Show marketing remark (166 chars)

   Maintenance Provided! New flooring throughout! Freshly painted, all new fixtures, New granite and new ss appliances in kitchen. Large deck overlooking community pool.

7. 2021-07-26
   status Pending 166-char remark

   Show marketing remark (166 chars)

   Maintenance Provided! New flooring throughout! Freshly painted, all new fixtures, New granite and new ss appliances in kitchen. Large deck overlooking community pool.

8. 2021-07-21
   historical 166-char remark

   Show marketing remark (166 chars)

   Maintenance Provided! New flooring throughout! Freshly painted, all new fixtures, New granite and new ss appliances in kitchen. Large deck overlooking community pool.

9. 2021-07-15
   status Pending 166-char remark

   Show marketing remark (166 chars)

   Maintenance Provided! New flooring throughout! Freshly painted, all new fixtures, New granite and new ss appliances in kitchen. Large deck overlooking community pool.

10. 2021-07-13
    listed $199,900 Active 166-char remark

    Show marketing remark (166 chars)

    Maintenance Provided! New flooring throughout! Freshly painted, all new fixtures, New granite and new ss appliances in kitchen. Large deck overlooking community pool.

11. 2021-05-03
    soldstatus

ⓘ 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: $3,356 · $280/mo
• Projected year-2 tax: $4,018 · $335/mo
• Expected delta: +$662/yr (+$55/mo · 19.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,672
• − Mortgage interest: −$15,964
• − Property taxes: −$3,356
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,934
• − Management: −$2,934
• − HOA: −$3,180
• − Depreciation: −$8,291
• Taxable loss: −$1,412
• Est. tax savings @ 24.0%: +$339
• After-tax cash flow: $3,414/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: Shawnee Mission Pub Schools
• NCES district ID: 2011640
• Math proficiency: 38% ▼ -6.00%
• Reading proficiency: 46% ▼ -2.00%
• Median HH income: $64,923
• Composite: 37.55/100
• National rank: #4391
• State rank: #22 of 169 in KS

Livability — Lenexa

• Score: 87/100
• State rank: #3
• US rank: #317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lenexa, KS
• County: Johnson County · 574,662 people
• City population: 57,609
• Metro: Kansas City, MO-KS
• Population (ZIP): 25,960
• Household income: $88,232
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 948.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 663,396 people
• By 2030: 702,585 · +5.9%
• By 2040: 775,386 · +16.9%
• By 2050: 841,772 · +26.9%
• By 2075: 994,137 · +49.9%
• By 2100: 1,073,036 · +61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 12% Two or more races 10% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 10% · Canada, Vietnam, China
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Johnson

• 2024 margin: Lean D (+8.5) · D 53.4% · R 44.9% · Other 1.8%
• 2008→2024 swing: +17.5pp toward D · 2008: -9.0pp · 2024: 8.5pp
• All cycles: 2024: D+8.5 2020: D+8.2 2016: R+2.7 2012: R+17.8 2008: R+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -203.54%
• Current HPI: 259.3739
• Rent YoY: ▲ 4.97%
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+42.6% since first listed

11 events — show timeline

• 2026-05-14 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-02 Contingent — Heartland MLS as Distributed by MLS Grid
• 2026-05-01 Listed $285,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-02 Coming Soon $285,000 Heartland MLS as Distributed by MLS Grid
• 2021-09-20 Sold (Public Records) — Public Records
• 2021-08-31 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2021-07-26 Pending — Heartland MLS as Distributed by MLS Grid
• 2021-07-21 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2021-07-15 Pending — Heartland MLS as Distributed by MLS Grid
• 2021-07-13 Listed $199,900 Heartland MLS as Distributed by MLS Grid
• 2021-05-03 Sold (Public Records) — Public Records

Property tax history

+5.1%/yr

Latest (2025): $3,356 · +7.2% YoY. Source: county tax records.