3610 SW Eveningside Dr · Topeka, KS 66614

$162,600

2 bd · 2.0 ba · 1,674 sqft · MultiFamily public records · 2 Days on market

Built 1979 5,227 sqft lot

---

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 +11.1/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +3.5/5.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• 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

Love the layout of this home with the finished basement, bedroom, and full bath in the basement! Walk out to the patio and fenced back yard with large newer storage shed. Newer decking overlooks the backyard from the kitchen and the open flow from the dining to the living room with fireplace. Main floor living with the laundry adjacent to the kitchen and the primary en-suite. Great set up for many situations! Does it fit yours?

Key facts

• No hoa fees
• Quick highway access
• 5,227 sq ft lot

Tags

• UPDATED KITCHEN CABINETS
• PRIVACY-FENCED BACKYARD
• NO HOA FEES
• QUICK HIGHWAY ACCESS

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer; Electric service
• Home design: Residential half-duplex; Frame construction
• Construction: Frame construction; Concrete basement
• Exterior features: Patio; Deck; Storm doors; Fenced yard with privacy fencing; Composition roof

Interior

• Kitchen: Electric range; Range hood; Microwave; Dishwasher; Refrigerator; Garbage disposal; Gas water heater
• Flooring: Laminate flooring; Carpet
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Living room fireplace; Basement with concrete construction
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $163k.

Deal economics

• At list price, monthly cash flow is $-65 ($-776/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (7.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (18.2% below list).
• Recommended offer: $133k (18.2% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.3% in Topeka — 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 69/100 on livability (#195 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F, commute F.
• Topeka Public Schools (urban): math 17% / reading 23% proficiency, ranked #158 of 169 in KS (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Marjorie French Middle School (math 23% / reading 30%, grade F, #98 of 219 statewide, top 44%, 436 students, 70% FRL); Topeka West High (math 13% / reading 20%, grade F, #244 of 327 statewide, top 75%, 1,085 students, 59% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: Rents rising fast (+9.9%/yr); 137 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 219 units permitted in Shawnee County in 2024 (25 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Shawnee County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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.
• Current owner paid $60k; list at $163k implies a 171% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $133,047 (18.2% 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. Built in 1979 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.82% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.70%
• DSCR: 0.92
• GRM: 10.2

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: -13.7%
• Equity multiple: 0.49×
• Total profit: $-23,421
• Equity at exit: $24,244

10-year hold

• IRR: 1.6%
• Equity multiple: 1.14×
• Total profit: $6,365
• Equity at exit: $14,059

Cash invested: $45,528 (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 66614

• Rents YoY: 9.9%
• Active inventory: 137
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,330 medium
• Mortgage (P&I): −$853
• Tax from tax record: −$195 /mo · $2,344/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $-65

Break-even live

Break-even rent $1,412

Max offer price $151,175

Occupancy floor 100%

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: $40,650
• Closing costs: $4,878
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4110 SW Twilight Dr Topeka, KS	2.0	1.5	1746	$1,150	$0.66	21d	1	0.69mi
3211 SW Twilight Ct Topeka, KS	1.0–3.0	1.0–2.0	965	$1,052	$1.09	21d	6	0.71mi

Listing history 4 events

1. 2026-06-13
   status $162,600 Pending 2 DOM
2. 2026-06-10
   days on market $162,600 Active 2 DOM
3. 2026-06-09
   remarks 693-char remark
4. 2026-06-09
   listed $162,600 Active 1 DOM

ⓘ 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: $2,344 · $195/mo
• Projected year-2 tax: $2,344 · $195/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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,966
• − Mortgage interest: −$9,108
• − Property taxes: −$2,344
• − Insurance: −$813
• − Repairs & maintenance: −$1,277
• − Management: −$1,277
• − Depreciation: −$4,730
• Taxable loss: −$3,584
• Est. tax savings @ 24.0%: +$860
• After-tax cash flow: $84/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: Topeka Public Schools
• NCES district ID: 2012260
• Math proficiency: 17% ▼ -8.00%
• Reading proficiency: 23% ▼ -2.00%
• Median HH income: $37,405
• Composite: 16.69/100
• National rank: #9167
• State rank: #158 of 169 in KS

Livability — Topeka

• Score: 69/100
• State rank: #195
• US rank: #8848

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Topeka, KS
• County: Shawnee County · 118,130 people
• City population: 118,130
• Metro: Topeka, KS
• Population (ZIP): 32,538
• Household income: $71,377
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 852.0

Population outlook (Shawnee County) Hauer SSP2

• Today (2025): 179,277 people
• By 2030: 177,762 · -0.8%
• By 2040: 172,341 · -3.9%
• By 2050: 166,330 · -7.2%
• By 2075: 152,417 · -15.0%
• By 2100: 134,782 · -24.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 7% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Shawnee

• 2024 margin: Toss-up / Even · D 49.3% · R 48.8% · Other 2.0%
• 2008→2024 swing: +0.8pp no change · 2008: -0.3pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+3.0 2016: R+2.8 2012: R+1.7 2008: R+0.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -160.56%
• Current HPI: 225.5592
• Rent YoY: ▲ 9.88%
• Metro: Topeka, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+171.0% since first listed

11 events — show timeline

• 2026-06-08 Listed $162,600 Sunflower MLS as distributed by MLS GRID
• 2022-10-31 Sold (Public Records) — Public Records
• 2022-10-28 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2022-09-30 Pending — Sunflower MLS as distributed by MLS GRID
• 2022-09-27 Listed $139,900 Sunflower MLS as distributed by MLS GRID
• 2014-07-25 Sold (Public Records) — Public Records
• 2014-07-24 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2014-06-04 Listed $92,500 Sunflower MLS as distributed by MLS GRID
• 2011-06-10 Sold (Public Records) — Public Records
• 2009-08-20 Sold (Public Records) — Public Records
• 1985-06-01 Sold (Public Records) $60,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $2,344 · +3.8% YoY. Source: county tax records.