2609 SW Buchanan St · Topeka, KS 66611

$100,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 6 Days on market

Built 1926 6,534 sqft lot Est $84k · 20% over

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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 +16.3/30.0
• DSCR +5.1/10.0
• 1% rule +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

ONLINE AUCTION DEAD LINE 04/04/2014, www. auction.com to place offers. Lots of potential in this SW home. Remodel started but not finished perfect time to put personal touches in this 2 bedroom 1 bath Bungalow.

Key facts

• 6,534 sq ft lot
• Garage
• Built 1926

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Residential property; Package of properties (subtype)
• Construction: Frame construction; Above-grade finished area approximately 960
• Exterior features: Lot dimensions approximately 38 x 142; Lot size about 0.15 acres

Interior

• Bathrooms: 1 full bathroom
• Interior features: Gas water heater; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $55 ($663/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $92k (8.2% below list).
• Recommended offer: $92k (8.2% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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: Jardine Elementary (math 18% / reading 24%, grade F, #583 of 684 statewide, top 85%, 743 students, 79% FRL); Jardine Middle School (math 13% / reading 23%, grade F, #164 of 219 statewide, top 76%, 542 students, 79% FRL); Topeka High (math 11% / reading 20%, grade F, #248 of 327 statewide, top 76%, 1,514 students, 72% FRL).
• Market conditions: 49 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $691 of loan paydown is wiped out by about $3k 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $40k; list at $100k implies a 152% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $91,838 (8.2% below list)

Questions for the listing agent

1. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.92% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.37%
• DSCR: 1.11
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $83,520
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2054 SW Lane St	0.52mi	2/1.0	1,040 (+8%)	21mo	$90,000	$87	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.55×
• Total profit: $-12,687
• Equity at exit: $14,910

10-year hold

• IRR: -3.5%
• Equity multiple: 0.77×
• Total profit: $-6,515
• Equity at exit: $8,646

Cash invested: $28,000 (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 66611

• Active inventory: 49
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $918 high
• Mortgage (P&I): −$524
• Tax from tax record: −$104 /mo · $1,251/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $55

Break-even live

Break-even rent $848

Max offer price $100,000

Occupancy floor 89%

Sensitivity live

Price	-10% $112	-5% $84	+0% $55	+5% $27	+10% $-1
Rent	-10% $-17	-5% $19	+0% $55	+5% $91	+10% $128
Rate	-1.0pp $106	-0.5pp $81	base $55	+0.5pp $29	+1.0pp $3

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1414 SW 27th St Topeka, KS	2.0	1.0	908	$825	$0.91	23d	1	0.13mi
2130 SW Fillmore St Topeka, KS	2.0	1.0	800	$800	$1.00	23d	1	0.50mi
2101 SW Potomac Dr Topeka, KS	1.0	1.0	585	$645	$1.10	23d	1	0.58mi
1926 SW Washburn Ave Topeka, KS	2.0	1.0	600	$650	$1.08	23d	1	0.71mi
1900 SW Washburn Ave Topeka, KS	2.0	1.0	883	$890	$1.01	23d	1	0.73mi
2409 SW 21st St Topeka, KS	3.0	1.0	890	$850	$0.96	23d	1	0.81mi
2045 SW Macvicar Ave Topeka, KS	2.0	2.0	860	$875	$1.02	23d	1	0.83mi
2220 SW 29th Ter #14 Topeka, KS	1.0	1.0	672	$695	$1.03	23d	1	0.87mi
1116 SW 18th St Topeka, KS	3.0	1.0	1105	$1,175	$1.06	23d	1	0.88mi
1516 SW 17th St Topeka, KS	2.0	1.0	699	$735	$1.05	23d	1	1.00mi
1436 SW Byron St Topeka, KS	2.0	1.0	900	$720	$0.80	23d	1	1.06mi
1510 SW Lane St Topeka, KS	1.0	1.0	750	$675	$0.90	23d	1	1.14mi
1515 SW 15th St Topeka, KS	1.0	1.0	775	$700	$0.90	23d	1	1.16mi
3423 SW Clare Ave Topeka, KS	3.0	1.0	1030	$1,395	$1.35	23d	1	1.20mi
1407 SW Glencoe St Topeka, KS	3.0	1.0	1030	$1,295	$1.26	23d	1	1.23mi
1708 SW Webster Ave Topeka, KS	1.0	1.0	525	$595	$1.13	23d	1	1.33mi
1400 SW Afton St Topeka, KS	3.0	1.0	1030	$1,075	$1.04	23d	1	1.37mi
3570 SW Kerry Ave Topeka, KS	3.0	1.0	1080	$1,350	$1.25	23d	1	1.39mi
512 SW 14th St Topeka, KS	2.0	1.0	815	$895	$1.10	23d	1	1.39mi
2704 SE Massachusetts Ave Topeka, KS	3.0	1.0	936	$950	$1.01	23d	1	1.40mi
1438 SW Van Buren St Apt 4 Topeka, KS	2.0	1.0	700	$825	$1.18	23d	1	1.40mi
1258 SW Clay St Unit 4 Topeka, KS	1.0	1.0	650	$695	$1.07	23d	1	1.42mi
1300 SW Tyler St Topeka, KS	1.0	1.0	550	$590	$1.07	23d	1	1.44mi
3304 SW 29th Ter Apt 3 Topeka, KS	1.0	1.0	567	$825	$1.46	23d	1	1.45mi
1307 SW Harrison St Unit 1301 C31 Topeka, KS	1.0	1.0	585	$749	$1.28	23d	1	1.46mi
1307 SW Harrison St Unit 1301 B33 Topeka, KS	1.0	1.0	585	$742	$1.27	23d	1	1.46mi
1307 SW Harrison St Topeka, KS	1.0	1.0	585	$718	$1.23	23d	1	1.48mi

Listing history 6 events

1. 2026-05-14
   status Pending
2. 2026-05-08
   listed $100,000 Active
3. 2014-12-02
   soldstatus
4. 2014-07-16
   soldstatus 210-char remark

   Show marketing remark (210 chars)

   ONLINE AUCTION DEAD LINE 04/04/2014, www. auction.com to place offers. Lots of potential in this SW home. Remodel started but not finished perfect time to put personal touches in this 2 bedroom 1 bath Bungalow.

5. 2014-03-17
   listed 210-char remark

   Show marketing remark (210 chars)

   ONLINE AUCTION DEAD LINE 04/04/2014, www. auction.com to place offers. Lots of potential in this SW home. Remodel started but not finished perfect time to put personal touches in this 2 bedroom 1 bath Bungalow.

6. 1999-02-17
   soldstatus $39,700

ⓘ 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: $1,251 · $104/mo
• Projected year-2 tax: $1,410 · $118/mo
• Expected delta: +$159/yr (+$13/mo · 12.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,021
• − Mortgage interest: −$5,602
• − Property taxes: −$1,251
• − Insurance: −$500
• − Repairs & maintenance: −$882
• − Management: −$882
• − Depreciation: −$2,909
• Taxable loss: −$1,004
• Est. tax savings @ 24.0%: +$241
• After-tax cash flow: $904/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): 9,828
• Household income: $55,837
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 501.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 64% Hispanic / Latino 13% Black 12% Two or more races 12%
• Hispanic origin (detail): Mexican 8% Puerto Rican 4%
• Common ancestry: Italian 2% Serbian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -142.03%
• Current HPI: 213.2041
• Rent YoY: —
• Metro: Topeka, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+151.9% since first listed

6 events — show timeline

• 2026-05-14 Pending — Sunflower MLS as distributed by MLS GRID
• 2026-05-08 Listed $100,000 Sunflower MLS as distributed by MLS GRID
• 2014-12-02 Sold (Public Records) — Public Records
• 2014-07-16 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2014-03-17 Listed — Sunflower MLS as distributed by MLS GRID
• 1999-02-17 Sold (Public Records) $39,700 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,251 · +7.6% YoY. Source: county tax records.