2614 Alabama St · Lawrence, KS 66046

$199,900

4 bd · 2.0 ba · 1,248 sqft · SingleFamily public records · 31 Days on market

Built 1959 Est $275k · 27% under

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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 +18.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +5.2/10.0
• Rent growth +4.8/5.0
• Livability +4.4/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located just walking distance from KU, this vacant property is packed with potential and ready for its next chapter. Whether you& apos; re an investor searching for your next summer project or a homeowner with creative vision, this property offers a chance to build equity with a little TLC. What we love about this home: -Original Hardwood Floors full of character -NEW Sewer Line -Prime location near campus, dining, etc. -Vacant and ready for immediate possession. This is property is being sold AS-IS. Seller will make no repairs. Bring your ideas and unlock the possibilities this property has to offer!

Key facts

• New sewer line
• Built 1959
• Listed 30 days

Tags

• ORIGINAL HARDWOOD FLOORS
• NEW SEWER LINE
• PRIME LOCATION NEAR CAMPUS

Property features AI

Exterior

• Home design: Built in 1959
• Construction: Living area approximately 1,248
• Exterior features: Located in the Indian Hills subdivision

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 2.7% in Lawrence — 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 88/100 on livability (#1 in KS, #237 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime D-.
• Lawrence (urban): math 31% / reading 44% proficiency, ranked #46 of 169 in KS (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+9.4%/yr); 61 active listings in the ZIP; 246 units permitted in Douglas County in 2024 (38 in 5+ unit buildings).
• This rent runs 37% of the median local income ($65k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Douglas County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $56k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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: 1.02% ✓
• Cap rate: 7.44%
• Cash-on-cash: 4.10%
• DSCR: 1.18
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $274,560
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1730 W 27th Ter	0.53mi	3/2.0 (-1)	1,252 (+0%)	6mo	$245,000	$196	64
1834 W 27th Ter	0.55mi	3/2.0 (-1)	1,252 (+0%)	6mo	$249,900	$200	64
2515 Belle Haven Dr	0.15mi	3/2.0 (-1)	1,136 (-9%)	15mo	$249,900	$220	60
902 W 30th St	0.45mi	3/2.0 (-1)	1,333 (+7%)	4mo	$324,900	$244	59
2509 Belle Haven Dr	0.16mi	4/2.0	1,430 (+15%)	12mo	$250,000	$175	58
2900 Belle Haven Dr	0.36mi	3/2.0 (-1)	1,378 (+10%)	10mo	$310,000	$225	53
2566 Ridge Ct	0.61mi	3/1.5 (-1)	1,325 (+6%)	4mo	$260,000	$196	51
1208 W 21st St	0.71mi	3/2.0 (-1)	1,293 (+4%)	11mo	$250,000	$193	47
912 W 30th Ter	0.49mi	3/2.0 (-1)	1,421 (+14%)	3mo	$345,000	$243	47
820 W 30th St	0.45mi	3/2.0 (-1)	1,421 (+14%)	11mo	$345,000	$243	42
1520 W 27th St	0.47mi	3/1.5 (-1)	1,112 (-11%)	14mo	$274,900	$247	41
2411 Massachusetts St	0.59mi	3/2.0 (-1)	1,396 (+12%)	12mo	$265,000	$190	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.83×
• Total profit: $-9,372
• Equity at exit: $29,806

10-year hold

• IRR: 10.6%
• Equity multiple: 2.01×
• Total profit: $56,790
• Equity at exit: $17,284

Cash invested: $55,972 (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 66046

• Rents YoY: 9.4%
• Active inventory: 61
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,038 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$287 /mo · $3,448/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $191

Break-even live

Break-even rent $1,796

Max offer price $199,900

Occupancy floor 86%

Sensitivity live

Price	-10% $305	-5% $248	+0% $191	+5% $135	+10% $78
Rent	-10% $30	-5% $111	+0% $191	+5% $272	+10% $352
Rate	-1.0pp $292	-0.5pp $242	base $191	+0.5pp $140	+1.0pp $87

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $199,900 Active 31 DOM
2. 2026-06-18
   days on market $199,900 Active 30 DOM
3. 2026-06-17
   days on market $199,900 Active 29 DOM
4. 2026-06-17
   price $199,900 Active 28 DOM
5. 2026-06-16
   days on market $210,000 Active 28 DOM
6. 2026-06-15
   days on market $210,000 Active 27 DOM
7. 2026-06-14
   days on market $210,000 Active 25 DOM
8. 2026-06-13
   days on market $210,000 Active 24 DOM
9. 2026-06-09
   days on market $210,000 Active 21 DOM
10. 2026-06-08
    days on market $210,000 Active 20 DOM
11. 2026-06-07
    days on market $210,000 Active 19 DOM
12. 2026-06-05
    days on market $210,000 Active 16 DOM
13. 2026-06-02
    days on market $210,000 Active 14 DOM
14. 2026-06-01
    days on market $210,000 Active 13 DOM
15. 2026-05-31
    days on market $210,000 Active 12 DOM
16. 2026-05-30
    days on market $210,000 Active 11 DOM
17. 2026-05-20
    listed $210,000 Active
18. 1979-04-25
    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: $3,448 · $287/mo
• Projected year-2 tax: $3,448 · $287/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥109°F today · 16 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: $24,461
• − Mortgage interest: −$11,198
• − Property taxes: −$3,448
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,957
• − Management: −$1,957
• − Depreciation: −$5,815
• Taxable loss: −$913
• Est. tax savings @ 24.0%: +$219
• After-tax cash flow: $2,517/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: Lawrence
• NCES district ID: 2008400
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 44% ▬ 0.00%
• Median HH income: $46,259
• Composite: 32.02/100
• National rank: #5826
• State rank: #46 of 169 in KS

Livability — Lawrence

• Score: 88/100
• State rank: #1
• US rank: #237

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lawrence, KS
• County: Douglas County · 100,966 people
• City population: 100,966
• Metro: Lawrence, KS
• Population (ZIP): 19,658
• Household income: $65,478
• Rent vs Own: 55.2% rent · 44.8% own
• Severe rent burden: 1201.0

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 136,863 people
• By 2030: 147,255 · +7.6%
• By 2040: 167,760 · +22.6%
• By 2050: 190,593 · +39.3%
• By 2075: 253,850 · +85.5%
• By 2100: 314,741 · +130.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Two or more races 10% Asian 9% Hispanic / Latino 7% Black 6% Native American 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Iranian 3% Italian 2%
• Foreign-born: 11% · China, Canada, Vietnam
• Languages at home: 85% English-only · Chinese 4% Spanish 3% Other Asian/Pacific 2%

Political lean MEDSL · Douglas

• 2024 margin: Solid D (+38.0) · D 68.2% · R 30.2% · Other 1.6%
• 2008→2024 swing: +7.2pp toward D · 2008: 30.8pp · 2024: 38.0pp
• All cycles: 2024: D+38.0 2020: D+39.5 2016: D+32.7 2012: D+23.7 2008: D+30.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -246.73%
• Current HPI: 236.534
• Rent YoY: ▲ 9.36%
• Metro: Lawrence, KS
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-05-20 Listed $210,000 FSBO.com
• 1979-04-25 Sold (Public Records) — Public Records

Property tax history

+6.1%/yr

Latest (2025): $3,448 · +3.8% YoY. Source: county tax records.