5827 SW 22nd Ter · Topeka, KS 66614

$95,000

2 bd · 1.0 ba · 952 sqft · SingleFamily · 6 Days on market

Built 1984 Fair condition 1,102 ac lot $284/mo HOA · 23% 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 +15.4/30.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• DSCR +4.7/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

So much new to this 2 bed 1 bath condo! New paint throughout, new flooring in kitchen and bathroom, redone kitchen counter tops, and all new kitchen appliances, and the washer and dryer is even included. Fall in love with the updated fireplace, and redone deck. Walk out your door to the in-ground pool & clubhouse, and enjoy the tennis & basketball court. No mowing or snow shoveling to worry about! Close to shopping and eateries. 1 year home warranty with acceptable offer. You must come and take a look!

Key facts

• Upper-level setting
• Smart layout
• Second floor condo

Tags

• SECOND FLOOR CONDO
• SOARING VAULTED CEILINGS
• UPPER-LEVEL SETTING
• SMART LAYOUT
• LOW-MAINTENANCE LIFESTYLE

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $284; HOA amenities include clubhouse, pool, and tennis courts; HOA fee covers trash, snow removal, and insurance

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential condominium; Frame construction with vinyl siding
• Construction: Frame construction; Vinyl siding
• Exterior features: Patio; Storm doors

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Flooring: Laminate; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Vaulted ceilings; Storm windows; Living room fireplace
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $36 ($430/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Cap rate 6.7% 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.
• Auburn Washburn (rural): math 34% / reading 42% proficiency, ranked #29 of 169 in KS (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washburn Rural Middle School (math 28% / reading 31%, grade F, #72 of 219 statewide, top 38%, 943 students, 36% FRL); Washburn Rural High (math 25% / reading 30%, grade F, #83 of 327 statewide, top 25%, 1,884 students, 31% FRL).
• Market conditions: Rents rising fast (+9.9%/yr); 137 active listings in the ZIP; 5 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

• 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 + 8.0% rent growth), your $27k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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

• Watch-outs: HOA is 23% of rent.
• 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 $95,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.30% ✓
• Cap rate: 6.75%
• Cash-on-cash: 1.62%
• DSCR: 1.07
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.76×
• Total profit: $-6,386
• Equity at exit: $14,165

10-year hold

• IRR: 10.3%
• Equity multiple: 2.05×
• Total profit: $27,891
• 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 66614

• Rents YoY: 9.9%
• Active inventory: 137
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,236 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$284
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $36

Break-even live

Break-even rent $1,191

Max offer price $95,000

Occupancy floor 92%

Sensitivity live

Price	-10% $101	-5% $69	+0% $36	+5% $3	+10% $-30
Rent	-10% $-62	-5% $-13	+0% $36	+5% $85	+10% $133
Rate	-1.0pp $84	-0.5pp $60	base $36	+0.5pp $11	+1.0pp $-14

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 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2310 SW Fairlawn Rd Topeka, KS	2.0	1.0	912	$1,095	$1.20	21d	1	0.68mi
5237 SW 20th Ter Topeka, KS	2.0	2.0	1050	$1,205	$1.15	21d	1	0.72mi
2937 SW McClure Rd Topeka, KS	2.0	1.0	822	$795	$0.97	21d	1	0.95mi
1618 SW Chelsea Dr Topeka, KS	2.0	1.0	768	$1,045	$1.36	21d	1	0.97mi
1700 SW Amhurst Rd Topeka, KS	3.0	1.5	1118	$1,350	$1.21	21d	1	1.01mi

HOA detail

• Monthly dues: $284 · $3,408/yr
• Likely covers: pool

Listing history 6 events

1. 2026-06-07
   statusdays on market $95,000 Pending 6 DOM
2. 2026-06-03
   days on market $95,000 Active 4 DOM
3. 2026-06-02
   days on market $95,000 Active 3 DOM
4. 2026-06-01
   days on market $95,000 Active 2 DOM
5. 2026-05-31
   remarks 626-char remark
6. 2026-05-31
   listed $95,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $14,831
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,186
• − Management: −$1,186
• − HOA: −$3,408
• − Depreciation: −$2,764
• Taxable loss: −$935
• Est. tax savings @ 24.0%: +$224
• After-tax cash flow: $655/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate repairs and maintenance, including painting and landscaping, to improve its condition and value.

Repairs flagged

• Major paint — paint appears worn in some areas
• Moderate exterior siding — some discoloration
• Moderate interior walls — paint appears worn in some areas
• Minor landscaping — some overgrown areas

Value-add opportunities

• Both paint — Fresh paint can improve the home's curb appeal and interior aesthetics
• Both landscaping — Well-maintained landscaping can enhance the home's curb appeal and increase its value
• Both interior walls — Fresh paint can improve the home's curb appeal and interior aesthetics
• Both exterior siding — Repainting or replacing the siding can improve the home's curb appeal and increase its value

Renovation cost estimate screening

Repair item	Severity	Est. cost
paint · paint appears worn in some areas	Major	$15,000–50,000
exterior siding · some discoloration	Moderate	$3,000–15,000
interior walls · paint appears worn in some areas	Moderate	$3,000–15,000
landscaping · some overgrown areas	Minor	$500–3,000
Total estimated repair cost · 4 items		$21,500–83,000

Value-add ROI direction

• Both paint — Fresh paint can improve the home's curb appeal and interior aesthetics ↑
• Both landscaping — Well-maintained landscaping can enhance the home's curb appeal and increase its value ↑
• Both interior walls — Fresh paint can improve the home's curb appeal and interior aesthetics ↑
• Both exterior siding — Repainting or replacing the siding can improve the home's curb appeal and increase its value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Auburn Washburn
• NCES district ID: 2003200
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $71,903
• Composite: 34.91/100
• National rank: #5073
• State rank: #29 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): 32,538
• Household income: $71,377
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 852.0

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 4% Asian 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 3% 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: ▼ -160.56%
• Current HPI: 225.5592
• Rent YoY: ▲ 9.88%
• Metro: Topeka, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+51.0% since first listed

3 events — show timeline

• 2026-05-30 Listed $95,000 Sunflower MLS as distributed by MLS GRID
• 2020-04-30 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2020-03-08 Listed $62,900 Sunflower MLS as distributed by MLS GRID