400 NE Burgess St · Topeka, KS 66608

$57,000

2 bd · 1.0 ba · 872 sqft · SingleFamily public records · 8 Days on market

Built 1927 0.48 ac 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
• Appreciation +7.5/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Massive equity upside awaits the visionary buyer at 400 NE Burgess St in Topeka, Kansas. Whether you are a seasoned investor mapping out your next high-margin flip or a homebuyer ready to invest some sweat equity into crafting your dream home, this detached cottage offers the ultimate blank canvas. The property perfectly combines a highly correctable footprint with an expansive, deep town lot that provides immense yard versatility and mature shade trees. Unlike most fixer-uppers where you face total mechanical unknowns, this home hands you a major head start on your renovation budget: it features a brand-new, 40-gallon natural gas water heater installed in 2025 , alongside a central air con

Key facts

• Detached cottage
• Mature shade trees
• 0.48 acre lot

Tags

• DETACHED COTTAGE
• EXPANSIVE DEEP TOWN LOT
• MATURE SHADE TREES
• CENTRAL AIR CONDITIONING UNIT
• FORCED AIR GAS FURNACE
• CLASSIC STRUCTURAL BONES

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public water
• Home design: Single family residence (single house); Residential property
• Exterior features: Nearly half-acre lot (0.48 acre); Subdivision: Garfield Place

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Electric water heater; Basement present

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $57k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($970 rent vs $57k).
• Cap rate 11.1% 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.
• Seaman (suburban): math 32% / reading 37% proficiency, ranked #51 of 169 in KS (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Logan Elementary (math 22% / reading 32%, grade F, #507 of 684 statewide, top 78%, 624 students, 61% FRL); Seaman Middle School (math 17% / reading 23%, grade F, #146 of 219 statewide, top 67%, 585 students, 37% FRL); Seaman High (math 17% / reading 22%, grade F, #216 of 327 statewide, top 70%, 1,239 students, 31% FRL) — zoned schools average 43% FRL vs 26% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 34% district-wide (-12 pts) — the specific schools serving this property underperform the Seaman average; the district grade overstates school quality for this exact location.
• Market conditions: 32 active listings in the ZIP; 7 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

• In year one you build about $3k of equity ($394 loan paydown + $3k appreciation (5.0% local appreciation)).
• Shawnee County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price; built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,000

Questions for the listing agent

1. Built in 1927 — 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: 1.70% ✓
• Cap rate: 11.11%
• Cash-on-cash: 17.21%
• DSCR: 1.77
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.9%
• Equity multiple: 2.75×
• Total profit: $27,941
• Equity at exit: $32,428

10-year hold

• IRR: 26.8%
• Equity multiple: 5.51×
• Total profit: $72,011
• Equity at exit: $56,071

Cash invested: $15,960 (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 66608

• Home prices YoY: 2.3%
• Active inventory: 32
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $970 high
• Mortgage (P&I): −$299
• Tax from tax record: −$215 /mo · $2,576/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $229

Break-even live

Break-even rent $680

Max offer price $57,000

Occupancy floor 71%

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: $14,250
• Closing costs: $1,710
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1920 NW Wilcox Ct Unit 1920 Topeka, KS	3.0	2.0	1000	$850	$0.85	21d	1	0.45mi
1141 NE Chester Ave Topeka, KS	2.0	1.0	750	$850	$1.13	21d	1	0.96mi
195 Coachlight Dr Unit 132 Topeka, KS	3.0	2.0	1024	$900	$0.88	21d	1	1.00mi
132 Coachlight Dr Topeka, KS	3.0	2.0	1024	$900	$0.88	21d	1	1.01mi
1700 NW Polk St Topeka, KS	3.0	1.0	988	$1,350	$1.37	21d	1	1.04mi
122 NW Walnut Grove Dr Topeka, KS	2.0–3.0	1.0–2.0	945	$1,171	$1.24	21d	14	1.29mi
1104 NW Starlight Cir Topeka, KS	3.0	2.0	1024	$960	$0.94	21d	1	1.34mi

Listing history 4 events

1. 2026-05-31
   status $57,000 Pending 8 DOM
2. 2026-05-30
   days on market $57,000 Active 8 DOM
3. 2026-05-22
   listed $57,000 Active
4. 2008-03-28
   soldstatus

ⓘ 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: $2,576 · $215/mo
• Projected year-2 tax: $2,576 · $215/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 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,639
• − Mortgage interest: −$3,193
• − Property taxes: −$2,576
• − Insurance: −$285
• − Repairs & maintenance: −$931
• − Management: −$931
• − Depreciation: −$1,658
• Taxable income: $2,065
• Est. tax owed @ 24.0%: −$496
• After-tax cash flow: $2,252/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: Seaman
• NCES district ID: 2011490
• Math proficiency: 32% ▼ -5.00%
• Reading proficiency: 37% ▬ 0.00%
• Median HH income: $65,842
• Composite: 31.43/100
• National rank: #5985
• State rank: #51 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): 4,789

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 (78%)
• Race & ethnicity: White 78% Black 10% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 2% Romanian 2% Iranian 2%
• Foreign-born: 1% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 4% Korean 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: ▲ 5.04%
• Current HPI: 223.2676
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-05-22 Listed $57,000 Sunflower MLS as distributed by MLS GRID
• 2008-03-28 Sold (Public Records) — Public Records

Property tax history

+7.4%/yr

Latest (2025): $2,576 · +75.0% YoY. Source: county tax records.