335 SW Western Ave · Topeka, KS 66606

$68,000

2 bd · 2.0 ba · 1,726 sqft · SingleFamily public records · 93 Days on market

Built 1910 2,614 sqft lot Est $131k · 48% under ↓ 21% since listing

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

Listing remarks

Located on the corner of 4th & Western Ave, this 3 bed, 2 bath home is in need of repairs and updates. The property features a brand new Class 4 impact-resistant roof installed less than a year ago, offering added value and peace of mind. While the home does need a new HVAC system and a full remodel, it presents a great opportunity for investors or buyers looking to build equity. Home has a full basement and an oversized attic space as well. This home is best suited for investors or buyers prepared to take on a substantial renovation project. Home is being sold strictly as-is.

Key facts

• Full basement
• 2,614 sq ft lot
• Built 1910

Tags

• CLASS 4 IMPACT-RESISTANT ROOF
• FULL BASEMENT
• OVERSIZED ATTIC SPACE

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Brick construction
• Exterior features: Corner lot

Interior

• Flooring: Hardwood flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Gas water heater; Fireplace (2 total)
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $62k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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.
• 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: Meadows Elementary (math 27% / reading 27%, grade F, #507 of 684 statewide, top 78%, 417 students, 85% FRL); 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: 67 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $470 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($62k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,880 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 1.58% ✓
• Cap rate: 13.06%
• Cash-on-cash: 24.17%
• DSCR: 2.08
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $131,176
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1020 / 1024 SW Fillmore St	0.71mi	3/1.0 (+1)	1,630 (-6%)	2mo	$124,000	$76	47

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: 17.4%
• Equity multiple: 1.70×
• Total profit: $13,421
• Equity at exit: $10,139

10-year hold

• IRR: 25.9%
• Equity multiple: 3.27×
• Total profit: $43,196
• Equity at exit: $5,879

Cash invested: $19,040 (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 66606

• Home prices YoY: -34.5%
• Active inventory: 67
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,076 high
• Mortgage (P&I): −$357
• Tax from tax record: −$82 /mo · $980/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $384

Break-even live

Break-even rent $591

Max offer price $68,000

Occupancy floor 59%

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
416 SW Clay St Topeka, KS	3.0	1.0	1639	$1,025	$0.63	21d	1	0.13mi
822 SW 8th Ave Topeka, KS	3.0	1.5	1600	$1,025	$0.64	21d	1	0.42mi
111 NW Quinton Ave Topeka, KS	3.0	1.5	1232	$1,045	$0.85	21d	1	0.46mi
101 N Kansas Ave Topeka, KS	2.0	1.0	1009	$1,325	$1.31	21d	3	0.72mi
937 SW Jewell Ave Topeka, KS	3.0	1.0	1297	$1,295	$1.00	21d	1	1.02mi
1268 SW Western Ave Unit 1A Topeka, KS	2.0	1.0	1404	$1,000	$0.71	21d	1	1.04mi
1275 SW Mulvane St Topeka, KS	3.0	1.5	1791	$1,350	$0.75	21d	1	1.33mi
1624 SW Polk St Topeka, KS	3.0	2.0	1288	$1,350	$1.05	21d	1	1.43mi

Listing history 18 events

1. 2026-06-19
   days on market $68,000 Active 93 DOM
2. 2026-06-18
   days on market $68,000 Active 92 DOM
3. 2026-06-17
   days on market $68,000 Active 91 DOM
4. 2026-06-16
   days on market $68,000 Active 90 DOM
5. 2026-06-15
   days on market $68,000 Active 89 DOM
6. 2026-06-14
   days on market $68,000 Active 87 DOM
7. 2026-06-13
   days on market $68,000 Active 86 DOM
8. 2026-06-10
   days on market $68,000 Active 84 DOM
9. 2026-06-09
   days on market $68,000 Active 83 DOM
10. 2026-06-08
    days on market $68,000 Active 82 DOM
11. 2026-06-07
    days on market $68,000 Active 81 DOM
12. 2026-06-02
    days on market $68,000 Active 76 DOM
13. 2026-06-01
    days on market $68,000 Active 75 DOM
14. 2026-05-31
    days on market $68,000 Active 74 DOM
15. 2026-05-30
    days on market $68,000 Active 73 DOM
16. 2026-04-17
    price $75,000
17. 2026-03-18
    listed $95,000 Active
18. 2025-04-10
    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: $980 · $82/mo
• Projected year-2 tax: $980 · $82/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 4/10 Moderate 7 d/yr ≥107°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: $12,913
• − Mortgage interest: −$3,809
• − Property taxes: −$980
• − Insurance: −$340
• − Repairs & maintenance: −$1,033
• − Management: −$1,033
• − Depreciation: −$1,978
• Taxable income: $3,740
• Est. tax owed @ 24.0%: −$898
• After-tax cash flow: $3,705/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): 9,842
• Household income: $57,169
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 521.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 7% Black 6% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -120.02%
• Current HPI: 227.5883
• Rent YoY: —
• Metro: Topeka, KS
• State GDP YoY: —
• F500 in state: 0

Price history

-21.1% since first listed

3 events — show timeline

• 2026-04-17 Price Changed $75,000 Sunflower MLS as distributed by MLS GRID
• 2026-03-18 Listed $95,000 Sunflower MLS as distributed by MLS GRID
• 2025-04-10 Sold (Public Records) — Public Records

Property tax history

+0.5%/yr

Latest (2025): $980 · +6.8% YoY. Source: county tax records.