3124 SW 11th St · Topeka, KS 66604

$145,000

3 bd · 1.0 ba · 1,363 sqft · SingleFamily public records · 6 Days on market

Built 1948 5,663 sqft lot Est $168k · 14% under

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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 +13.7/30.0
• ARV discount +13.6/15.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Rent growth +3.6/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

ALL HIGHEST AND BEST MUST BE SUBMITTED BY 5PM, TUESDAY MARCH 4TH. Adorable Southwest home with lots of shade and potential. Living room with fireplace, Formal dining room off the kitchen. 3 bedrooms and the bath upstairs. This 3 bedroom 1 bath with attached garage is just waiting for it's new family to come and enjoy.

Key facts

• Convenient location
• Minutes from parks
• 5,663 sq ft lot

Tags

• CONVENIENT LOCATION
• MINUTES FROM HOSPITALS
• MINUTES FROM SHOPPING
• MINUTES FROM RESTAURANTS
• MINUTES FROM PARKS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $11 ($131/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (12.3% below list).
• Recommended offer: $127k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: Landon Middle School (math 15% / reading 27%, grade F, #142 of 219 statewide, top 65%, 457 students, 68% FRL); Topeka West High (math 13% / reading 20%, grade F, #244 of 327 statewide, top 75%, 1,085 students, 59% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: Rents rising fast (+4.4%/yr); 130 active listings in the ZIP; 4 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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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.
• Current owner paid $84k; list at $145k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• 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 $127,115 (12.3% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.88% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.32%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $167,649
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1107 SW Wayne Ave	0.48mi	3/2.0	1,380 (+1%)	21mo	$154,900	$112	54
917 SW Oakley Ave	0.19mi	3/2.0	1,173 (-14%)	23mo	$175,000	$149	45
2706 SW Lee Ct	0.53mi	3/2.0	1,549 (+14%)	18mo	$190,000	$123	34

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 · 4.39% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.48×
• Total profit: $-20,982
• Equity at exit: $21,620

10-year hold

• IRR: -3.4%
• Equity multiple: 0.76×
• Total profit: $-9,708
• Equity at exit: $12,537

Cash invested: $40,600 (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 66604

• Rents YoY: 4.4%
• Active inventory: 130
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,271 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$172 /mo · $2,069/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $11

Break-even live

Break-even rent $1,257

Max offer price $145,000

Occupancy floor 94%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
937 SW Jewell Ave Topeka, KS	3.0	1.0	1297	$1,295	$1.00	20d	1	0.79mi
728 SW Lindenwood Ave Topeka, KS	2.0	1.0	968	$1,195	$1.23	20d	1	0.91mi
1275 SW Mulvane St Topeka, KS	3.0	1.5	1791	$1,350	$0.75	20d	1	1.02mi
1436 SW Byron St Topeka, KS	2.0	1.0	900	$720	$0.80	20d	1	1.35mi

Listing history 8 events

1. 2026-04-26
   status Pending
2. 2026-04-19
   listed $145,000 Active
3. 2014-03-17
   soldstatus 319-char remark

   Show marketing remark (319 chars)

   ALL HIGHEST AND BEST MUST BE SUBMITTED BY 5PM, TUESDAY MARCH 4TH. Adorable Southwest home with lots of shade and potential. Living room with fireplace, Formal dining room off the kitchen. 3 bedrooms and the bath upstairs. This 3 bedroom 1 bath with attached garage is just waiting for it's new family to come and enjoy.

4. 2014-02-27
   listed $47,000 319-char remark

   Show marketing remark (319 chars)

   ALL HIGHEST AND BEST MUST BE SUBMITTED BY 5PM, TUESDAY MARCH 4TH. Adorable Southwest home with lots of shade and potential. Living room with fireplace, Formal dining room off the kitchen. 3 bedrooms and the bath upstairs. This 3 bedroom 1 bath with attached garage is just waiting for it's new family to come and enjoy.

5. 2014-01-24
   soldstatus $84,000
6. 2014-01-24
   soldstatus $84,000
7. 2014-01-24
   soldstatus $84,000
8. 1999-09-24
   soldstatus $80,000

ⓘ 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: $2,069 · $172/mo
• Projected year-2 tax: $2,069 · $172/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 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,254
• − Mortgage interest: −$8,122
• − Property taxes: −$2,069
• − Insurance: −$725
• − Repairs & maintenance: −$1,220
• − Management: −$1,220
• − Depreciation: −$4,218
• Taxable loss: −$2,322
• Est. tax savings @ 24.0%: +$557
• After-tax cash flow: $689/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): 23,006
• Household income: $60,874
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 1192.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 15% Two or more races 11% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 4% 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: ▼ -151.78%
• Current HPI: 227.637
• Rent YoY: ▲ 4.39%
• Metro: Topeka, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+81.2% since first listed

8 events — show timeline

• 2026-04-26 Pending — Sunflower MLS as distributed by MLS GRID
• 2026-04-19 Listed $145,000 Sunflower MLS as distributed by MLS GRID
• 2014-03-17 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2014-02-27 Listed $47,000 Sunflower MLS as distributed by MLS GRID
• 2014-01-24 Sold (Public Records) $84,000 Public Records
• 2014-01-24 Sold (Public Records) $84,000 Public Records
• 2014-01-24 Sold (Public Records) $84,000 Public Records
• 1999-09-24 Sold (Public Records) $80,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,069 · +5.0% YoY. Source: county tax records.