23144 W 71st Ter · Shawnee, KS 66227

$375,000

2 bd · 2.0 ba · 1,612 sqft · MultiFamily public records · 7 Days on market

Built 2002 2,084 sqft lot $485/mo HOA · 27% 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 +10.2/30.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• 1% rule +4.5/10.0
• Livability +4.4/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

A great open plan (The Monterey) that boasts a large great room and sun room. This home is in great condition and is updated throughout. A great kitchen with bar. This is and end unit with great windows and oversized garage. This is the best unit available in Town and Country!

Key facts

• 2,084 sq ft lot
• 2 garage spots
• Community pool

Property features AI

Finance

• HOA & community: Town & Country Villas HOA; Monthly HOA fee (includes building maintenance, lawn service, roof repair/replace, snow removal, trash, water, management, insurance, curbside recycle); Community amenities: clubhouse, community center, exercise room, party room, pool, trails; Exterior and grounds maintenance provided

Exterior

• Parking: Attached garage with 2 spaces; Garage faces side; Garage door opener; Shared driveway
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Fiber internet available
• Home design: Residential villa (ranch floor plan); Single-story living (main/first floor primary); Accessible features including accessible bedroom, bathroom and central living area; customized wheelchair accessible
• Construction: Stone & frame and stucco exterior; Composition roof; Built by Straub (age approx. 21–30 years)
• Exterior features: Patio; Partial fencing; Sprinkler system (in-ground); Zero lot line; Paved road with public maintenance

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Disposal; Pantry; Country kitchen / living-dining combo
• Bedrooms: 2 bedrooms (both on the main/first floor); Main floor primary bedroom; Main floor bedroom
• Flooring: Carpet
• Bathrooms: 2 full bathrooms; Primary bath with double vanity and shower; Second bath with shower-over-tub
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Ceiling fans; Pantry; Vaulted ceiling; Walk-in closets; Window coverings; Thermal windows; Gas fireplace in the living room; Slab foundation
• Laundry & utility: Main level laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $-212 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $338k (10.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $356k (5.2% below list).
• Recommended offer: $338k (10.0% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 3.2% in Shawnee — 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 87/100 on livability (#2 in KS, #276 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+.
• De Soto (suburban): math 49% / reading 53% proficiency, ranked #3 of 169 in KS (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Mize Elementary School (math 63% / reading 69%, grade B+, #41 of 684 statewide, top 6%, 459 students, 10% FRL); De Soto High School (math 48% / reading 40%, grade F, #7 of 327 statewide, top 2%, 997 students, 20% FRL).
• Market conditions: 103 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).
• This rent runs 30% of the median local income ($140k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 23y 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.

Recommended offer $337,623 (10.0% 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. 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 5.62%
• Cash-on-cash: -2.42%
• DSCR: 0.89
• GRM: 8.8

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: -20.2%
• Equity multiple: 0.30×
• Total profit: $-73,925
• Equity at exit: $55,914

10-year hold

• IRR: -13.0%
• Equity multiple: 0.23×
• Total profit: $-80,437
• Equity at exit: $32,423

Cash invested: $105,000 (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 66227

• Home prices YoY: -25.7%
• Active inventory: 103
• Price-to-rent: 17.6×

Monthly cashflow live

• Estimated rent: $3,555 medium
• Mortgage (P&I): −$1,967
• Tax from tax record: −$412 /mo · $4,947/yr
• Insurance: −$156
• HOA: −$485
• Vacancy / Maint / Mgmt: −$747
• Net cashflow: $-212

Break-even live

Break-even rent $3,823

Max offer price $337,623

Occupancy floor —

Sensitivity live

Price	-10% $1	-5% $-105	+0% $-212	+5% $-318	+10% $-424
Rent	-10% $-492	-5% $-352	+0% $-212	+5% $-71	+10% $69
Rate	-1.0pp $-23	-0.5pp $-116	base $-212	+0.5pp $-309	+1.0pp $-408

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,556
Total (2 units)			$3,555

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6522 Noble St Shawnee, KS	3.0–4.0	2.5	1689	$2,200	$1.30	2d	1	1.22mi

HOA detail

• Monthly dues: $485 · $5,820/yr

Listing history 8 events

1. 2026-04-17
   status Pending
2. 2026-04-10
   listed $375,000 Active
3. 2015-08-25
   soldstatus
4. 2013-01-29
   soldstatus
5. 2013-01-28
   soldstatus 277-char remark

   Show marketing remark (277 chars)

   A great open plan (The Monterey) that boasts a large great room and sun room. This home is in great condition and is updated throughout. A great kitchen with bar. This is and end unit with great windows and oversized garage. This is the best unit available in Town and Country!

6. 2012-10-26
   listed $182,550 277-char remark

   Show marketing remark (277 chars)

   A great open plan (The Monterey) that boasts a large great room and sun room. This home is in great condition and is updated throughout. A great kitchen with bar. This is and end unit with great windows and oversized garage. This is the best unit available in Town and Country!

7. 2003-04-17
   soldstatus 291-char remark

   Show marketing remark (291 chars)

   Monterey floor plan. Ranch townhouse community, maintenance provided, vaulted ceilings, energy efficient with fire sprinklers, 40 year roof, over sized garage. Sunroom and patio. Above/below kitchen cabinet lighting. www. townandcountryvillas. com for floor plans and current inventory list.

8. 2003-01-04
   listed $191,400 291-char remark

   Show marketing remark (291 chars)

   Monterey floor plan. Ranch townhouse community, maintenance provided, vaulted ceilings, energy efficient with fire sprinklers, 40 year roof, over sized garage. Sunroom and patio. Above/below kitchen cabinet lighting. www. townandcountryvillas. com for floor plans and current inventory list.

ⓘ 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: $4,947 · $412/mo
• Projected year-2 tax: $5,288 · $441/mo
• Expected delta: +$341/yr (+$28/mo · 6.9%)

ⓘ 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 3/10 Moderate
• 🌡 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,660
• − Mortgage interest: −$21,006
• − Property taxes: −$4,947
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,413
• − Management: −$3,413
• − HOA: −$5,820
• − Depreciation: −$10,909
• Taxable loss: −$8,722
• Est. tax savings @ 24.0%: +$2,093
• After-tax cash flow: $-446/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: De Soto
• NCES district ID: 2005490
• Math proficiency: 49% ▼ -1.00%
• Reading proficiency: 53% ▼ -1.00%
• Median HH income: $96,361
• Composite: 48.04/100
• National rank: #2192
• State rank: #3 of 169 in KS

Livability — Shawnee

• Score: 87/100
• State rank: #2
• US rank: #276

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shawnee, KS
• County: Johnson County · 574,662 people
• City population: 60,541
• Metro: Kansas City, MO-KS
• Population (ZIP): 9,595
• Household income: $139,883
• Rent vs Own: 14.2% rent · 85.8% own
• Severe rent burden: 14.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 6% Black 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 4% English 4% Italian 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1% Tagalog/Filipino 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: ▼ -87.02%
• Current HPI: 251.8801
• Rent YoY: —
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+95.9% since first listed

8 events — show timeline

• 2026-04-17 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-10 Listed $375,000 Heartland MLS as Distributed by MLS Grid
• 2015-08-25 Sold (Public Records) — Public Records
• 2013-01-29 Sold (Public Records) — Public Records
• 2013-01-28 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2012-10-26 Listed $182,550 Heartland MLS as Distributed by MLS Grid
• 2003-04-17 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2003-01-04 Listed $191,400 Heartland MLS as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2025): $4,947 · +8.7% YoY. Source: county tax records.