1607 SW Buchanan St · Topeka, KS 66604

$95,000

4 bd · 1.5 ba · 1,425 sqft · SingleFamily public records · 30 Days on market

Built 1920 4,792 sqft lot Est $154k · 38% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Rent growth +3.6/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 4-bedroom, 1.5-bath home featuring a large living room and formal dining room, perfect for entertaining. Beautiful hardwood floors run throughout much of the home. Covered front porch and back deck add to the home’s charm. With plenty of character and space, this property offers great potential and is ready for your personal touch. Home is in need of some TLC. Schedule your showing today!

Key facts

• 4,792 sq ft lot
• Built 1920
• Listed 30 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Exterior features: Deck

Interior

• Kitchen: Electric range; Microwave; Dishwasher
• Flooring: Hardwood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Window unit(s) for cooling
• Interior features: Hardwood flooring; Basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $467 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.2% 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: Stout Elem (math 17% / reading 32%); Robinson Middle School (math 10% / reading 19%, grade F, #180 of 219 statewide, top 83%, 360 students, 84% FRL); Topeka High (math 11% / reading 20%, grade F, #248 of 327 statewide, top 76%, 1,514 students, 72% FRL).
• Market conditions: Rents rising fast (+4.4%/yr); 131 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $657 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.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $95k implies a 375% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $93,575 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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. 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: 1.43% ✓
• Cap rate: 12.19%
• Cash-on-cash: 21.08%
• DSCR: 1.94
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $153,900
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1647 SW 21st St	0.71mi	3/2.0 (-1)	1,458 (+2%)	6mo	$90,000	$62	51
1193 SW Jewell Ave	0.75mi	4/2.0	1,460 (+2%)	11mo	$157,900	$108	50
2058 SW Buchanan St	0.54mi	3/2.0 (-1)	1,616 (+13%)	2mo	$175,000	$108	44
1020 / 1024 SW Fillmore St	0.71mi	3/1.0 (-1)	1,630 (+14%)	2mo	$124,000	$76	34

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 · 4.39% rent growth · sell at horizon

5-year hold

• IRR: 15.0%
• Equity multiple: 1.61×
• Total profit: $16,287
• Equity at exit: $14,165

10-year hold

• IRR: 24.7%
• Equity multiple: 3.28×
• Total profit: $60,621
• Equity at exit: $8,214

Cash invested: $26,600 (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 66604

• Rents YoY: 4.4%
• Active inventory: 131
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,363 high
• Mortgage (P&I): −$498
• Tax from tax record: −$71 /mo · $858/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $467

Break-even live

Break-even rent $771

Max offer price $95,000

Occupancy floor 61%

Sensitivity live

Price	-10% $521	-5% $494	+0% $467	+5% $440	+10% $413
Rent	-10% $360	-5% $413	+0% $467	+5% $521	+10% $575
Rate	-1.0pp $515	-0.5pp $491	base $467	+0.5pp $443	+1.0pp $418

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1647 SW Buchanan St Topeka, KS	3.0	2.0	1550	$1,395	$0.90	23d	1	0.06mi
1116 SW 18th St Topeka, KS	3.0	1.0	1105	$1,175	$1.06	23d	1	0.17mi
1415 SW Western Ave Topeka, KS	4.0	1.0	1190	$1,400	$1.18	23d	1	0.31mi
1936 SW Clay St Topeka, KS	3.0	1.0	1572	$1,000	$0.64	23d	1	0.39mi
1624 SW Polk St Topeka, KS	3.0	2.0	1288	$1,350	$1.05	23d	1	0.39mi
1275 SW Mulvane St Topeka, KS	3.0	1.5	1791	$1,350	$0.75	23d	1	0.48mi
2409 SW 21st St Topeka, KS	3.0	1.0	890	$850	$0.96	23d	1	0.96mi
822 SW 8th Ave Topeka, KS	3.0	1.5	1600	$1,025	$0.64	23d	1	1.05mi
937 SW Jewell Ave Topeka, KS	3.0	1.0	1297	$1,295	$1.00	23d	1	1.13mi
520 SW 5th St Topeka, KS	4.0	1.0	1224	$1,250	$1.02	23d	1	1.39mi
416 SW Clay St Topeka, KS	3.0	1.0	1639	$1,025	$0.63	23d	1	1.39mi

Listing history 18 events

1. 2026-06-21
   days on market $95,000 Active 30 DOM
2. 2026-06-19
   days on market $95,000 Active 28 DOM
3. 2026-06-18
   days on market $95,000 Active 27 DOM
4. 2026-06-17
   days on market $95,000 Active 26 DOM
5. 2026-06-16
   days on market $95,000 Active 25 DOM
6. 2026-06-15
   days on market $95,000 Active 24 DOM
7. 2026-06-14
   days on market $95,000 Active 22 DOM
8. 2026-06-13
   pricedays on market $95,000 Active 21 DOM
9. 2026-06-10
   days on market $115,000 Active 19 DOM
10. 2026-06-09
    days on market $115,000 Active 18 DOM
11. 2026-06-08
    days on market $115,000 Active 17 DOM
12. 2026-06-07
    days on market $115,000 Active 16 DOM
13. 2026-06-02
    days on market $115,000 Active 11 DOM
14. 2026-06-01
    days on market $115,000 Active 10 DOM
15. 2026-05-31
    days on market $115,000 Active 9 DOM
16. 2026-05-30
    days on market $115,000 Active 8 DOM
17. 2026-05-22
    listed $115,000 Active
18. 1997-04-01
    soldstatus $20,000

ⓘ 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: $858 · $71/mo
• Projected year-2 tax: $1,340 · $112/mo
• Expected delta: +$482/yr (+$40/mo · 56.1%)

ⓘ 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: $16,352
• − Mortgage interest: −$5,321
• − Property taxes: −$858
• − Insurance: −$475
• − Repairs & maintenance: −$1,308
• − Management: −$1,308
• − Depreciation: −$2,764
• Taxable income: $4,317
• Est. tax owed @ 24.0%: −$1,036
• After-tax cash flow: $4,570/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): 23,006
• Household income: $60,874
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 1192.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 15% Two or more races 11% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 4% 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: ▼ -151.78%
• Current HPI: 227.637
• Rent YoY: ▲ 4.39%
• Metro: Topeka, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+475.0% since first listed

2 events — show timeline

• 2026-05-22 Listed $115,000 Sunflower MLS as distributed by MLS GRID
• 1997-04-01 Sold (Public Records) $20,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $858 · +8.9% YoY. Source: county tax records.