1601 SW Topeka Blvd · Topeka, KS 66612

$30,000

3 bd · 1.0 ba · 1,626 sqft · SingleFamily public records · 27 Days on market

Built 1905 3,485 sqft lot

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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
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +1.1/10.0

Listing remarks MLS

At just over $18 per square foot, this 1,626 sqft 2-story is one of the lowest acquisition costs you'll find in Topeka. Corner lot at 16th and Topeka Blvd, large windows, formal living and dining rooms, and 3 bedrooms upstairs — the kind of layout and character that retail buyers pay a premium for when it's finished right. Sold as-is, includes all personal property, and priced under county appraisal. If you've been looking for a flip with room to work, this one has the numbers to back it up.

Key facts

• 3,485 sq ft lot
• Built 1905
• Listed 27 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $715 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.
• Cap rate 34.9% 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-, schools D-, crime 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.
• Market conditions: 9 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $207 of loan paydown is wiped out by about $900 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• 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 $29,550 (1.5% below list)

Questions for the listing agent

1. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 4.13% ✓
• Cap rate: 34.89%
• Cash-on-cash: 102.15%
• DSCR: 5.55
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $175,608
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2058 SW Buchanan St	0.72mi	3/2.0	1,616 (-1%)	2mo	$175,000	$108	60
521 18th St	0.61mi	4/1.5 (+1)	1,570 (-3%)	11mo	$72,900	$46	50

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: —
• Equity multiple: 5.85×
• Total profit: $40,734
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 12.23×
• Total profit: $94,331
• Equity at exit: $2,594

Cash invested: $8,400 (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 66612

• Home prices YoY: -3.1%
• Active inventory: 9
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,240 high
• Mortgage (P&I): −$157
• Tax from tax record: −$94 /mo · $1,133/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $715

Break-even live

Break-even rent $335

Max offer price $30,000

Occupancy floor 37%

Sensitivity live

Price	-10% $732	-5% $724	+0% $715	+5% $707	+10% $698
Rent	-10% $617	-5% $666	+0% $715	+5% $764	+10% $813
Rate	-1.0pp $730	-0.5pp $723	base $715	+0.5pp $707	+1.0pp $699

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1624 SW Polk St Topeka, KS	3.0	2.0	1288	$1,350	$1.05	22d	1	0.15mi
1415 SW Western Ave Topeka, KS	4.0	1.0	1190	$1,400	$1.18	22d	1	0.30mi
1268 SW Western Ave Unit 1A Topeka, KS	2.0	1.0	1404	$1,000	$0.71	22d	1	0.42mi
1116 SW 18th St Topeka, KS	3.0	1.0	1105	$1,175	$1.06	22d	1	0.53mi
1647 SW Buchanan St Topeka, KS	3.0	2.0	1550	$1,395	$0.90	22d	1	0.54mi
1936 SW Clay St Topeka, KS	3.0	1.0	1572	$1,000	$0.64	22d	1	0.58mi
1275 SW Mulvane St Topeka, KS	3.0	1.5	1791	$1,350	$0.75	22d	1	0.95mi
822 SW 8th Ave Topeka, KS	3.0	1.5	1600	$1,025	$0.64	22d	1	0.98mi
520 SW 5th St Topeka, KS	4.0	1.0	1224	$1,250	$1.02	22d	1	1.20mi
1316 SW 27th St Topeka, KS	2.0	2.0	1456	$1,150	$0.79	22d	1	1.20mi
501 SE 25th St Topeka, KS	3.0	1.5	1200	$1,295	$1.08	22d	1	1.26mi
416 SW Clay St Topeka, KS	3.0	1.0	1639	$1,025	$0.63	22d	1	1.36mi
937 SW Jewell Ave Topeka, KS	3.0	1.0	1297	$1,295	$1.00	22d	1	1.44mi

Listing history 4 events

1. 2026-05-11
   status Pending 502-char remark

   Show marketing remark (502 chars)

   At just over $18 per square foot, this 1,626 sqft 2-story is one of the lowest acquisition costs you'll find in Topeka. Corner lot at 16th and Topeka Blvd, large windows, formal living and dining rooms, and 3 bedrooms upstairs — the kind of layout and character that retail buyers pay a premium for when it's finished right. Sold as-is, includes all personal property, and priced under county appraisal. If you've been looking for a flip with room to work, this one has the numbers to back it up.

2. 2026-04-14
   listed $30,000 Active 502-char remark

   Show marketing remark (502 chars)

   At just over $18 per square foot, this 1,626 sqft 2-story is one of the lowest acquisition costs you'll find in Topeka. Corner lot at 16th and Topeka Blvd, large windows, formal living and dining rooms, and 3 bedrooms upstairs — the kind of layout and character that retail buyers pay a premium for when it's finished right. Sold as-is, includes all personal property, and priced under county appraisal. If you've been looking for a flip with room to work, this one has the numbers to back it up.

3. 2020-02-19
   soldstatus
4. 1996-05-01
   soldstatus $75,500

ⓘ 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: $1,133 · $94/mo
• Projected year-2 tax: $1,133 · $94/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 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: $14,876
• − Mortgage interest: −$1,680
• − Property taxes: −$1,133
• − Insurance: −$150
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − Depreciation: −$873
• Taxable income: $8,659
• Est. tax owed @ 24.0%: −$2,078
• After-tax cash flow: $6,502/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
• City population: 118,130
• Population (ZIP): 1,994

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 0.68)
• Race & ethnicity: Hispanic / Latino 39% White 34% Two or more races 26% Black 22%
• Hispanic origin (detail): Mexican 34% Dominican 2%
• Common ancestry: Iranian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 11% · Canada
• Languages at home: 87% English-only · Spanish 13%

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: ▼ -7.75%
• Current HPI: 242.2527
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-60.3% since first listed

4 events — show timeline

• 2026-05-11 Pending — Sunflower MLS as distributed by MLS GRID
• 2026-04-14 Listed $30,000 Sunflower MLS as distributed by MLS GRID
• 2020-02-19 Sold (Public Records) — Public Records
• 1996-05-01 Sold (Public Records) $75,500 Public Records

Property tax history

+14.2%/yr

Latest (2025): $1,133 · +160.7% YoY. Source: county tax records.