420 North St · Lawrence, KS 66044

$49,500

3 bd · 2.0 ba · 960 sqft · Land public records · 71 Days on market

Built 1999

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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
• 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

This home has been extensively updated and is move-in ready with modern finishes throughout. Recent upgrades include new flooring, fresh paint, updated lighting, and improved plumbing underneath the home. The kitchen features updated appliances, a new faucet, and a brand-new hood and microwave. Bathrooms have been refreshed, and the home includes new carpet in bedrooms and closets. Exterior improvements include a large front deck, fresh paint, updated shutters, new storm door, and gutter guards. Base Lot rent is $715/month. Conveniently located with easy access to Kansas City and upcoming World Cup activity. A great opportunity for affordable, updated living in a well-located community.

Key facts

• Updated appliances
• Brand new hood
• New faucet

Tags

• UPDATED APPLIANCES
• NEW FAUCET
• BRAND NEW HOOD
• NEW STORM DOOR
• GUTTER GUARDS
• LARGE FRONT DECK

Property features AI

Exterior

• Home design: Built in 1999
• Exterior features: Deck

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Carpet
• Interior features: Carpet flooring in living areas; Pantry; Deck access from interior

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $50k.

Deal economics

• At list price, monthly cash flow is $616 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 21.2% 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 (+9.0%/yr); 93 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 246 units permitted in Douglas County in 2024 (38 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $342 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.

Recommended offer $46,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.45% ✓
• Cap rate: 21.22%
• Cash-on-cash: 53.31%
• DSCR: 3.37
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 57.0%
• Equity multiple: 3.71×
• Total profit: $37,617
• Equity at exit: $7,381

10-year hold

• IRR: 63.7%
• Equity multiple: 9.12×
• Total profit: $112,485
• Equity at exit: $4,280

Cash invested: $13,860 (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 66044

• Rents YoY: 9.0%
• Active inventory: 93
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,212 medium
• Mortgage (P&I): −$260
• Tax est. 1.5%: −$62 /mo · $742/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $616

Break-even live

Break-even rent $433

Max offer price $49,500

Occupancy floor 44%

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: $12,375
• Closing costs: $1,485
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 N Michigan St Lawrence, KS	3.0	3.0	1036	$949	$0.92	23d	1	1.07mi
1311 George Ct Lawrence, KS	2.0	1.0	870	$1,195	$1.37	2d	3	1.13mi
901 Illinois St Lawrence, KS	2.0	1.0	900	$1,200	$1.33	12d	4	1.48mi

Listing history 16 events

1. 2026-06-19
   days on market $49,500 Active 71 DOM
2. 2026-06-18
   days on market $49,500 Active 70 DOM
3. 2026-06-17
   days on market $49,500 Active 69 DOM
4. 2026-06-16
   days on market $49,500 Active 68 DOM
5. 2026-06-15
   days on market $49,500 Active 67 DOM
6. 2026-06-14
   days on market $49,500 Active 65 DOM
7. 2026-06-13
   days on market $49,500 Active 64 DOM
8. 2026-06-09
   days on market $49,500 Active 61 DOM
9. 2026-06-08
   days on market $49,500 Active 60 DOM
10. 2026-06-07
    days on market $49,500 Active 59 DOM
11. 2026-06-05
    days on market $49,500 Active 56 DOM
12. 2026-06-02
    days on market $49,500 Active 54 DOM
13. 2026-06-01
    days on market $49,500 Active 53 DOM
14. 2026-05-31
    days on market $49,500 Active 52 DOM
15. 2026-05-30
    days on market $49,500 Active 51 DOM
16. 2026-03-31
    listed $49,500 Active

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

Taxation est. · year 1

• Rental income: $14,548
• − Mortgage interest: −$2,773
• − Property taxes: −$742
• − Insurance: −$248
• − Repairs & maintenance: −$1,164
• − Management: −$1,164
• − Depreciation: −$1,440
• Taxable income: $7,018
• Est. tax owed @ 24.0%: −$1,684
• After-tax cash flow: $5,704/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): 28,820
• Household income: $55,955
• Rent vs Own: 61.4% rent · 38.6% own
• Severe rent burden: 2168.0

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 (78%)
• Race & ethnicity: White 78% Two or more races 9% Hispanic / Latino 7% Black 4% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Lithuanian 3% Italian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 4% Other Asian/Pacific 1% Chinese 1%

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: ▼ -357.53%
• Current HPI: 247.5888
• Rent YoY: ▲ 9.02%
• Metro: Lawrence, KS
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-03-31 Listed $49,500 FSBO.com

Property tax history

+11.6%/yr

Latest (2025): $28,061 · +0.3% YoY. Source: county tax records.