8861 W 106th Ter · Overland Park, KS 66212

$165,000

2 bd · 2.0 ba · 1,376 sqft · Condo public records · 2 Days on market

Built 1986 $350/mo HOA · 20% of rent

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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 +10.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fabulous, bright, open and airy upper level condo in the heart of O. P. by Corporate Woods. Newer carpet and neutral decor complete with washer and dryer make this unit move in ready. Fireplace in liv. room with vaulted ceilings. Loft is perfect or office. Large master with huge closet and balcony.

Key facts

• Functional layout
• $350 HOA
• Garage

Tags

• LOW MAINTENANCE LIVING
• FUNCTIONAL LAYOUT
• ABUNDANT NATURAL LIGHT
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO DINING
• CONVENIENT ACCESS TO PARKS

Property features AI

Finance

• Other: Monthly association fee amount reported
• HOA & community: HOA with clubhouse and pool; Monthly association fee; Association fee includes building maintenance, lawn service, management, parking, insurance, snow removal, trash, water, and maintenance-free services; Community of about 120 units; Maintenance provided

Exterior

• Parking: Detached carport; Detached 1-car garage
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available; Metro internet available
• Home design: Residential condominium; Attached property; 1.5-story layout; Above-grade finished living area reported
• Construction: Frame construction with lap siding; Composition roof; Slab foundation; Approximately 31–40 years old
• Exterior features: City lot; Not in a flood plain

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric range
• Bedrooms: 2 bedrooms; Includes a balcony/loft; Living/Dining combo
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Electric cooling (has central/electric cooling)
• Interior features: Ceiling fans; Vaulted ceilings; Walk-in closets; Storm doors
• Laundry & utility: Main-level laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $-84 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (8.9% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $150k (8.9% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 3.9% in Overland Park — 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 80/100 on livability (#16 in KS, #1,851 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, crime B; Watch: health & safety C-, commute D+.
• Shawnee Mission Pub Schools (suburban): math 38% / reading 46% proficiency, ranked #22 of 169 in KS (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Brookridge Elem (math 29% / reading 38%, grade F, #417 of 684 statewide, top 61%, 549 students, 47% FRL); Indian Woods Middle (math 33% / reading 40%, grade F, #44 of 219 statewide, top 20%, 756 students, 38% FRL); Shawnee Mission South High (math 31% / reading 41%, grade F, #30 of 327 statewide, top 9%, 1,586 students, 34% FRL).
• Market conditions: Rents rising fast (+5.9%/yr); 142 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,969 units permitted in Johnson County in 2024 (1,066 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.
• Johnson County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 27y 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.

Risks & watch-outs

• 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 $150,239 (8.9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.06% ✓
• Cap rate: 5.69%
• Cash-on-cash: -2.17%
• DSCR: 0.90
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.91% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.43×
• Total profit: $-26,552
• Equity at exit: $24,602

10-year hold

• IRR: -1.6%
• Equity multiple: 0.87×
• Total profit: $-6,049
• Equity at exit: $14,266

Cash invested: $46,200 (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 66212

• Rents YoY: 5.9%
• Active inventory: 142
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,752 high
• Mortgage (P&I): −$865
• Tax from tax record: −$184 /mo · $2,205/yr
• Insurance: −$69
• HOA: −$350
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $-84

Break-even live

Break-even rent $1,858

Max offer price $150,239

Occupancy floor 100%

Sensitivity live

Price	-10% $10	-5% $-37	+0% $-84	+5% $-130	+10% $-177
Rent	-10% $-222	-5% $-153	+0% $-84	+5% $-14	+10% $55
Rate	-1.0pp $0	-0.5pp $-42	base $-84	+0.5pp $-126	+1.0pp $-170

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8710 W 106th Ter Overland Park, KS	1.0–3.0	1.0–2.0	1110	$1,362	$1.23	23d	12	0.11mi
8900 W 102nd Ter Overland Park, KS	1.0–3.0	1.0–2.0	1312	$1,502	$1.15	9d	1	0.56mi
9160 W 103rd St Overland Park, KS	1.0–2.0	1.0–2.0	1052	$2,933	$2.79	12d	1	0.63mi
9010 W 101st St Overland Park, KS	3.0	1.0	950	$1,795	$1.89	19d	1	0.79mi
10401 College Blvd Overland Park, KS	2.0	1.0–2.5	1120	$3,116	$2.78	3d	24	1.37mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-05-14
   status Pending
2. 2026-05-11
   listed $165,000 Active
3. 2011-12-19
   soldstatus
4. 2004-03-31
   soldstatus 299-char remark

   Show marketing remark (299 chars)

   Fabulous, bright, open and airy upper level condo in the heart of O. P. by Corporate Woods. Newer carpet and neutral decor complete with washer and dryer make this unit move in ready. Fireplace in liv. room with vaulted ceilings. Loft is perfect or office. Large master with huge closet and balcony.

5. 2004-03-29
   soldstatus
6. 2004-02-27
   listed $109,250 299-char remark

   Show marketing remark (299 chars)

   Fabulous, bright, open and airy upper level condo in the heart of O. P. by Corporate Woods. Newer carpet and neutral decor complete with washer and dryer make this unit move in ready. Fireplace in liv. room with vaulted ceilings. Loft is perfect or office. Large master with huge closet and balcony.

7. 1999-10-20
   soldstatus 236-char remark

   Show marketing remark (236 chars)

   Bright Open Vaulted Loft Unit With 2 Full Baths. Master Bedroom Suite With Balcony Overlooking The Pool. 1st Floor Laundry, Huge Linen Closet, Wood Burning Fireplace, Ceiling Fan In Livingroom. 1 Carport, 1 Parking Space, Washer, Dryer.

8. 1999-08-17
   listed $86,950 236-char remark

   Show marketing remark (236 chars)

   Bright Open Vaulted Loft Unit With 2 Full Baths. Master Bedroom Suite With Balcony Overlooking The Pool. 1st Floor Laundry, Huge Linen Closet, Wood Burning Fireplace, Ceiling Fan In Livingroom. 1 Carport, 1 Parking Space, Washer, Dryer.

ⓘ 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: $2,205 · $184/mo
• Projected year-2 tax: $2,326 · $194/mo
• Expected delta: +$121/yr (+$10/mo · 5.5%)

ⓘ 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 (unshaded) · 24% 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,027
• − Mortgage interest: −$9,243
• − Property taxes: −$2,205
• − Insurance: −$825
• − Repairs & maintenance: −$1,682
• − Management: −$1,682
• − HOA: −$4,200
• − Depreciation: −$4,800
• Taxable loss: −$3,611
• Est. tax savings @ 24.0%: +$867
• After-tax cash flow: $-136/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: Shawnee Mission Pub Schools
• NCES district ID: 2011640
• Math proficiency: 38% ▼ -6.00%
• Reading proficiency: 46% ▼ -2.00%
• Median HH income: $64,923
• Composite: 37.55/100
• National rank: #4391
• State rank: #22 of 169 in KS

Livability — Overland Park

• Score: 80/100
• State rank: #16
• US rank: #1851

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Overland Park, KS
• County: Johnson County · 574,662 people
• City population: 180,138
• Metro: Kansas City, MO-KS
• Population (ZIP): 32,917
• Household income: $81,477
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 1224.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 663,396 people
• By 2030: 702,585 · +5.9%
• By 2040: 775,386 · +16.9%
• By 2050: 841,772 · +26.9%
• By 2075: 994,137 · +49.9%
• By 2100: 1,073,036 · +61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Two or more races 9% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 6% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Johnson

• 2024 margin: Lean D (+8.5) · D 53.4% · R 44.9% · Other 1.8%
• 2008→2024 swing: +17.5pp toward D · 2008: -9.0pp · 2024: 8.5pp
• All cycles: 2024: D+8.5 2020: D+8.2 2016: R+2.7 2012: R+17.8 2008: R+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -268.56%
• Current HPI: 273.2798
• Rent YoY: ▲ 5.91%
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+89.8% since first listed

8 events — show timeline

• 2026-05-14 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-11 Listed $165,000 Heartland MLS as Distributed by MLS Grid
• 2011-12-19 Sold (Public Records) — Public Records
• 2004-03-31 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2004-03-29 Sold (Public Records) — Public Records
• 2004-02-27 Listed $109,250 Heartland MLS as Distributed by MLS Grid
• 1999-10-20 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 1999-08-17 Listed $86,950 Heartland MLS as Distributed by MLS Grid

Property tax history

+6.8%/yr

Latest (2025): $2,205 · +5.4% YoY. Source: county tax records.