19550 W 202nd Ter · Spring Hill, KS 66083

$399,990

4 bd · 2.5 ba · 2,053 sqft · Land · 118 Days on market

Built 2026 7,762 sqft lot $15/mo HOA · 1% of rent ↓ 9% since listing

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• 1% rule +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

46 - 90 Day Completion + Seller-Paid Closing Costs with Preferred Lender! Welcome to Woodland Crossing in Spring Hill! Meet the Bellamy by D. R. Horton—a stunning home featuring a 2-car garage, full basement, and 4 bedrooms / 3 bathrooms. This layout blends style, space, and modern comfort effortlessly. Inside, enjoy 9-ft ceilings, luxury vinyl plank flooring, and an open-concept design that flows from the living area into a chef-inspired kitchen with painted maple cabinetry, quartz countertops, and Whirlpool® stainless steel appliances. Step onto your spacious deck, perfect for morning coffee or evening hangouts. Your private primary suite features a tiled shower, dual vanity, an

Key facts

• Dual vanity
• Spacious deck
• Tiled shower

Tags

• CHEF INSPIRED KITCHEN
• SPACIOUS DECK
• PRIVATE PRIMARY SUITE
• TILED SHOWER
• DUAL VANITY
• GENEROUSLY SIZED CLOSET

Property features AI

Finance

• Other: Above-grade finished area per plans: 2,053 (estimated from builder plans); Lot size and other financial fields omitted
• HOA & community: Woodland Crossing Homes Association, Inc.; HOA dues $175 annually; Maintenance not provided

Exterior

• Parking: Attached garage with garage door opener; garage faces front; 2-car garage
• Security: Security system; Smart door lock; Smoke detectors
• Utilities: Public water; Public sewer; Fiber/high-speed internet available
• Home design: Single-family residence; Residential property; Under construction (estimated completion in 46 to 90 days); 2-story floor plan; Built by DR Horton (Bellamy model)
• Construction: Board & batten siding with concrete and stone trim; Composition roof; Has full basement with egress windows, sump pump, radon mitigation system, and stubbed for bath; Fiber cement green feature; Age: 2 years or less; 10-year builder warranty plus 1-year builder warranty
• Exterior features: Deck; Sprinkler system (in-ground); City lot within city limits; Paved road with public maintenance

Interior

• Kitchen: Kitchen island; Pantry; Quartz countertops; Dishwasher; Disposal; Microwave; Electric range; Stainless steel appliances
• Bedrooms: 4 bedrooms (primary suite on second level with walk-in closet); Second-level bedrooms with carpet
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom; Bathroom with quartz counter and shower-over-tub (second level)
• Heating & cooling: Electric heating; Heat pump; Exhaust fan; Electric cooling; Smart thermostat
• Interior features: Kitchen island; Painted cabinets; Pantry; Smart thermostat; Walk-in closets; Thermal windows; Family room; Office
• Laundry & utility: Laundry room on bedroom level

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath land listed at $400k.

Deal economics

• At list price, monthly cash flow is $-507 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $310k (22.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (39.4% below list).
• Recommended offer: $242k (39.4% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.6% in Spring Hill — 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 73/100 on livability (#93 in KS) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Spring Hill (rural): math 40% / reading 47% proficiency, ranked #11 of 169 in KS (top 6%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Dayton Creek Elementary School (240 students, 15% FRL); Spring Hill High School (math 27% / reading 47%, grade F, #26 of 327 statewide, top 8%, 983 students, 18% FRL) — zoned schools at 16% FRL track the district average.
• Market conditions: 415 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 $3k of loan paydown is wiped out by about $12k 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

• It's been on market 118 days — a 9% lower offer ($364k) is reasonable based on typical stale-listing flexibility.

Recommended offer $242,264 (39.4% 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. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 0.61% ✗
• Cap rate: 4.77%
• Cash-on-cash: -5.43%
• DSCR: 0.76
• GRM: 13.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -25.6%
• Equity multiple: 0.13×
• Total profit: $-97,260
• Equity at exit: $59,640

10-year hold

• IRR: -22.3%
• Equity multiple: -0.13×
• Total profit: $-126,955
• Equity at exit: $34,584

Cash invested: $111,997 (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 66083

• Home prices YoY: -32.9%
• Active inventory: 415
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $2,423 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$141 /mo · $1,696/yr
• Insurance: −$167
• HOA: −$15
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $-507

Break-even live

Break-even rent $3,064

Max offer price $310,485

Occupancy floor —

Sensitivity live

Price	-10% $-280	-5% $-393	+0% $-507	+5% $-620	+10% $-733
Rent	-10% $-698	-5% $-602	+0% $-507	+5% $-411	+10% $-315
Rate	-1.0pp $-305	-0.5pp $-405	base $-507	+0.5pp $-610	+1.0pp $-716

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: $99,998
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 E Hale St Spring Hill, KS	4.0	2.0	2300	$2,051	$0.89	13d	1	1.49mi

HOA detail

• Monthly dues: $15 · $180/yr
• Likely covers: pool

Listing history 5 events

1. 2026-05-01
   status Pending
2. 2026-04-21
   price $399,990
3. 2026-04-17
   price $422,990
4. 2026-02-20
   price $449,990
5. 2026-01-03
   listed $439,990 Active

ⓘ 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: $1,696 · $141/mo
• Projected year-2 tax: $5,640 · $470/mo
• Expected delta: +$3,944/yr (+$329/mo · 232.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $29,072
• − Mortgage interest: −$22,406
• − Property taxes: −$1,696
• − Insurance: −$2,000
• − Repairs & maintenance: −$2,326
• − Management: −$2,326
• − HOA: −$180
• − Depreciation: −$11,636
• Taxable loss: −$13,497
• Est. tax savings @ 24.0%: +$3,239
• After-tax cash flow: $-2,841/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: Spring Hill
• NCES district ID: 2011850
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 47% ▲ 5.00%
• Median HH income: $80,172
• Composite: 40.26/100
• National rank: #3767
• State rank: #11 of 169 in KS

Livability — Spring Hill

• Score: 73/100
• State rank: #93
• US rank: #5370

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spring Hill, KS
• County: Johnson County · 574,662 people
• City population: 13,011
• Metro: Kansas City, MO-KS
• Population (ZIP): 13,011
• Household income: $116,791
• Rent vs Own: 17.9% rent · 82.1% own
• Severe rent burden: 274.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Lithuanian 3% Italian 3% Portuguese 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 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: ▼ -130.12%
• Current HPI: 265.6494
• Rent YoY: —
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

-9.1% since first listed

5 events — show timeline

• 2026-05-01 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-21 Price Changed $399,990 Heartland MLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $422,990 Heartland MLS as Distributed by MLS Grid
• 2026-02-20 Price Changed $449,990 Heartland MLS as Distributed by MLS Grid
• 2026-01-03 Listed $439,990 Heartland MLS as Distributed by MLS Grid

Property tax history

+9.2%/yr

Latest (2025): $1,696 · -0.7% YoY. Source: county tax records.