420 North St #75 · Lawrence, KS 66044

$25,300

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 67 Days on market

Built 2026 Good condition

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.8/5.0
• Livability +4.4/5.0
• Condition / age +3.8/5.0
• Schools +3.2/10.0
• Appreciation +0.0/10.0

Listing remarks

* THIS IS A RESALE LISTING * This welcoming, well-maintained 3 bedroom, 2 bathroom home is a perfect place to raise your family. For your convenience, we have onsite community management to assist you when you need it. With our family-friendly community amenities such as a playground, a basketball court, and community events, your family will be excited to live here. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2026
• Listed 66 days

Property features AI

Finance

• Financial info: List price $24,800

Exterior

• Utilities: Natural gas available; Central air conditioning
• Home design: Spec home, plan 93010; Active listing
• Exterior features: Address: 420 North St #75, Lawrence, KS 66044

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Living area approximately 1,216

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $25k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $778 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $24k (6.0% below list) — sets the bar for market timing.
• Cap rate 43.2% vs local median 2.7% in Lawrence — 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 88/100 on livability (#1 in KS, #237 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime D-.
• Lawrence (urban): math 31% / reading 44% proficiency, ranked #46 of 169 in KS (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+9.0%/yr); 93 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 246 units permitted in Douglas County in 2024 (38 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $175 of loan paydown is wiped out by about $759 of value loss. Plan a longer hold.
• Douglas County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($24k) is reasonable based on typical stale-listing flexibility.

Recommended offer $23,782 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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?
5. 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?
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: 4.77% ✓
• Cap rate: 43.19%
• Cash-on-cash: 131.78%
• DSCR: 6.86
• GRM: 1.7

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: —
• Equity multiple: 8.32×
• Total profit: $51,839
• Equity at exit: $3,772

10-year hold

• IRR: —
• Equity multiple: 20.48×
• Total profit: $138,023
• Equity at exit: $2,187

Cash invested: $7,084 (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 66044

• Rents YoY: 9.0%
• Active inventory: 93
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,206 medium
• Mortgage (P&I): −$133
• Tax est. 1.5%: −$32 /mo · $380/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $778

Break-even live

Break-even rent $221

Max offer price $25,300

Occupancy floor 30%

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: $6,325
• Closing costs: $759
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 N Michigan St Lawrence, KS	3.0	3.0	1036	$949	$0.92	23d	1	1.07mi
1311 George Ct Lawrence, KS	2.0	1.0	870	$1,195	$1.37	1d	3	1.13mi
901 Illinois St Lawrence, KS	2.0	1.0	900	$1,200	$1.33	12d	4	1.48mi

Listing history 15 events

1. 2026-06-19
   days on market $25,300 Active 67 DOM
2. 2026-06-18
   days on market $25,300 Active 66 DOM
3. 2026-06-17
   days on market $25,300 Active 65 DOM
4. 2026-06-16
   days on market $25,300 Active 64 DOM
5. 2026-06-15
   days on market $25,300 Active 63 DOM
6. 2026-06-14
   days on market $25,300 Active 61 DOM
7. 2026-06-13
   days on market $25,300 Active 60 DOM
8. 2026-06-09
   days on market $25,300 Active 57 DOM
9. 2026-06-08
   days on market $25,300 Active 56 DOM
10. 2026-06-07
    days on market $25,300 Active 55 DOM
11. 2026-06-05
    days on market $25,300 Active 52 DOM
12. 2026-06-02
    days on market $25,300 Active 50 DOM
13. 2026-06-01
    pricedays on market $25,300 Active 49 DOM
14. 2026-05-31
    days on market $24,800 Active 48 DOM
15. 2026-05-30
    days on market $24,800 Active 47 DOM

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

Taxation est. · year 1

• Rental income: $14,472
• − Mortgage interest: −$1,417
• − Property taxes: −$380
• − Insurance: −$126
• − Repairs & maintenance: −$1,158
• − Management: −$1,158
• − Depreciation: −$736
• Taxable income: $9,498
• Est. tax owed @ 24.0%: −$2,279
• After-tax cash flow: $7,056/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 · 1 photo

Good 75/100 Cosmetic rehab

This well-maintained 3-bedroom, 2-bathroom home is ready for a new owner. It offers a great location with community amenities and is in good condition with minor updates that can significantly increase its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can improve the home's curb appeal and attract more potential buyers or renters.
• Both New flooring in high-traffic areas — New flooring can improve the home's appearance and increase its value.
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more appealing and increase the home's value.
• Both Upgrading the HVAC system — A new HVAC system can improve comfort and energy efficiency, making the home more attractive to buyers and renters.
• Both Upgrading the bathrooms with modern fixtures — Modern bathrooms can enhance the home's appeal and increase its value.
• Both Upgrading the roof if needed — A new roof can improve the home's appearance and increase its value.
• Both Upgrading the exterior siding — New siding can improve the home's curb appeal and increase its value.
• Both Upgrading the windows to energy-efficient ones — Energy-efficient windows can improve comfort and energy efficiency, making the home more attractive to buyers and renters.
• Both Upgrading the foundation and structure if needed — A strong foundation and structure can improve the home's safety and increase its value.
• Both Upgrading the landscaping and curb appeal — Enhanced landscaping can improve the home's curb appeal and attract more potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve the home's curb appeal and attract more potential buyers or renters. ↑
• Both New flooring in high-traffic areas — New flooring can improve the home's appearance and increase its value. ↑
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more appealing and increase the home's value. ↑
• Both Upgrading the HVAC system — A new HVAC system can improve comfort and energy efficiency, making the home more attractive to buyers and renters. ↑
• Both Upgrading the bathrooms with modern fixtures — Modern bathrooms can enhance the home's appeal and increase its value. ↑
• Both Upgrading the roof if needed — A new roof can improve the home's appearance and increase its value. ↑
• Both Upgrading the exterior siding — New siding can improve the home's curb appeal and increase its value. ↑
• Both Upgrading the windows to energy-efficient ones — Energy-efficient windows can improve comfort and energy efficiency, making the home more attractive to buyers and renters. ↑
• Both Upgrading the foundation and structure if needed — A strong foundation and structure can improve the home's safety and increase its value. ↑
• Both Upgrading the landscaping and curb appeal — Enhanced landscaping can improve the home's curb appeal and attract more potential buyers or renters. ↑

ⓘ 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: Lawrence
• NCES district ID: 2008400
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 44% ▬ 0.00%
• Median HH income: $46,259
• Composite: 32.02/100
• National rank: #5826
• State rank: #46 of 169 in KS

Livability — Lawrence

• Score: 88/100
• State rank: #1
• US rank: #237

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lawrence, KS
• County: Douglas County · 100,966 people
• City population: 100,966
• Metro: Lawrence, KS
• Population (ZIP): 28,820
• Household income: $55,955
• Rent vs Own: 61.4% rent · 38.6% own
• Severe rent burden: 2168.0

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 136,863 people
• By 2030: 147,255 · +7.6%
• By 2040: 167,760 · +22.6%
• By 2050: 190,593 · +39.3%
• By 2075: 253,850 · +85.5%
• By 2100: 314,741 · +130.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 9% Hispanic / Latino 7% Black 4% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Lithuanian 3% Italian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 4% Other Asian/Pacific 1% Chinese 1%

Political lean MEDSL · Douglas

• 2024 margin: Solid D (+38.0) · D 68.2% · R 30.2% · Other 1.6%
• 2008→2024 swing: +7.2pp toward D · 2008: 30.8pp · 2024: 38.0pp
• All cycles: 2024: D+38.0 2020: D+39.5 2016: D+32.7 2012: D+23.7 2008: D+30.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -357.53%
• Current HPI: 247.5888
• Rent YoY: ▲ 9.02%
• Metro: Lawrence, KS
• State GDP YoY: —
• F500 in state: 0