5504 SW Cantabella St · Topeka, KS 66614

$199,000

2 bd · 2.0 ba · 1,031 sqft · MultiFamily public records · 17 Days on market

Built 2008 3,485 sqft lot $180/mo HOA · 14% of rent

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Why this score? — see what drove the C+ 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 +25.1/30.0
• DSCR +8.2/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• 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

Looking for SW maintenance provided home with Zero Entry? Ventana Villa is just the spot. As you pull up you first notice the 2 car garage and side yard leading to front porch area. Once you enter, you immediately notice the front bedroom with large closet and to your left, the open floor plan. The kitchen flows right into the living room. the vaulted ceiling gives a fell of grandeur and space. The master suite if off the living area and would fit a multitude of furniture pieces. The walk-in shower is a bonus and walk-in closet also serves the safe room. Kitchen features beautiful walnut cabinetry and ample counter space for most cooks! All the appliances stay and a breakfast bar open to the living room. If it is outdoor space you desire, the unit also has a patio with easy access from the main living area. The home is total electric all appliances are included.

Key facts

• Zero entry
• Ada accessible
• Flat driveway

Tags

• ZERO ENTRY
• ADA ACCESSIBLE
• FLAT DRIVEWAY
• 36 INCH WIDE DOORWAYS
• KITCHEN ISLAND
• LARGE TILED ZERO-ENTRY SHOWER

Property features AI

Finance

• Other: Subdivision: Ventana Estates
• HOA & community: Homeowners association with $180 monthly fee; HOA covers trash and snow removal

Exterior

• Parking: Attached garage with garage door opener; 2 garage spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Residential half duplex; Single-story (above grade finished area: 1,031); Corner-facing lot
• Construction: Stone and vinyl siding exterior; Composition roof; Concrete basement
• Exterior features: Patio; Storm door(s); Sprinklers in front; Corner lot

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator; Garbage disposal
• Flooring: Ceramic tile; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Vaulted ceilings; Breakfast bar
• Laundry & utility: Washer and dryer included; Main level laundry in a laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: Marjorie French Middle School (math 23% / reading 30%, grade F, #98 of 219 statewide, top 44%, 436 students, 70% 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 (+9.9%/yr); 137 active listings in the ZIP; 6 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).
• This rent runs 43% of the median local income ($71k/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 $1k of loan paydown is wiped out by about $6k 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 $56k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,015 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
6. 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.
7. 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: 1.28% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.43%
• DSCR: 1.42
• GRM: 6.5

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: 4.0%
• Equity multiple: 1.17×
• Total profit: $9,217
• Equity at exit: $29,672

10-year hold

• IRR: 18.1%
• Equity multiple: 2.90×
• Total profit: $105,625
• Equity at exit: $17,206

Cash invested: $55,720 (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: 13.1×

Monthly cashflow live

• Estimated rent: $2,538 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$261 /mo · $3,127/yr
• Insurance: −$83
• HOA: −$180
• Vacancy / Maint / Mgmt: −$533
• Net cashflow: $438

Break-even live

Break-even rent $1,984

Max offer price $199,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,538
Total (2 units)			$2,538

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2937 SW McClure Rd Topeka, KS	2.0	1.0	822	$795	$0.97	21d	1	0.39mi
3211 SW Twilight Ct Topeka, KS	1.0–3.0	1.0–2.0	965	$1,052	$1.09	21d	6	1.25mi
2920 SW Gage Blvd Topeka, KS	2.0	2.0	925	$850	$0.92	21d	1	1.26mi
3930 SW Twilight Dr Topeka, KS	1.0	1.0	730	$945	$1.29	21d	1	1.27mi
2310 SW Fairlawn Rd Topeka, KS	2.0	1.0	912	$1,095	$1.20	21d	1	1.32mi
2320 SW Valley Brook Ln Topeka, KS	3.0	1.0	1200	$1,500	$1.25	21d	1	1.32mi

HOA detail

• Monthly dues: $180 · $2,160/yr
• Likely covers: electric

Listing history 14 events

1. 2026-06-10
   status $199,000 Pending 17 DOM
2. 2026-06-09
   days on market $199,000 Active 17 DOM
3. 2026-06-08
   days on market $199,000 Active 16 DOM
4. 2026-06-07
   days on market $199,000 Active 15 DOM
5. 2026-06-02
   days on market $199,000 Active 10 DOM
6. 2026-06-01
   days on market $199,000 Active 9 DOM
7. 2026-05-31
   days on market $199,000 Active 8 DOM
8. 2026-05-30
   days on market $199,000 Active 7 DOM
9. 2026-05-18
   status Pending
10. 2026-05-14
    listed $199,000 Active
11. 2024-01-19
    soldstatus Closed 874-char remark

    Show marketing remark (874 chars)

    Looking for SW maintenance provided home with Zero Entry? Ventana Villa is just the spot. As you pull up you first notice the 2 car garage and side yard leading to front porch area. Once you enter, you immediately notice the front bedroom with large closet and to your left, the open floor plan. The kitchen flows right into the living room. the vaulted ceiling gives a fell of grandeur and space. The master suite if off the living area and would fit a multitude of furniture pieces. The walk-in shower is a bonus and walk-in closet also serves the safe room. Kitchen features beautiful walnut cabinetry and ample counter space for most cooks! All the appliances stay and a breakfast bar open to the living room. If it is outdoor space you desire, the unit also has a patio with easy access from the main living area. The home is total electric all appliances are included.

12. 2024-01-19
    soldstatus

    Show marketing remark (874 chars)

    Looking for SW maintenance provided home with Zero Entry? Ventana Villa is just the spot. As you pull up you first notice the 2 car garage and side yard leading to front porch area. Once you enter, you immediately notice the front bedroom with large closet and to your left, the open floor plan. The kitchen flows right into the living room. the vaulted ceiling gives a fell of grandeur and space. The master suite if off the living area and would fit a multitude of furniture pieces. The walk-in shower is a bonus and walk-in closet also serves the safe room. Kitchen features beautiful walnut cabinetry and ample counter space for most cooks! All the appliances stay and a breakfast bar open to the living room. If it is outdoor space you desire, the unit also has a patio with easy access from the main living area. The home is total electric all appliances are included.

13. 2023-12-20
    status Pending 874-char remark

    Show marketing remark (874 chars)

    Looking for SW maintenance provided home with Zero Entry? Ventana Villa is just the spot. As you pull up you first notice the 2 car garage and side yard leading to front porch area. Once you enter, you immediately notice the front bedroom with large closet and to your left, the open floor plan. The kitchen flows right into the living room. the vaulted ceiling gives a fell of grandeur and space. The master suite if off the living area and would fit a multitude of furniture pieces. The walk-in shower is a bonus and walk-in closet also serves the safe room. Kitchen features beautiful walnut cabinetry and ample counter space for most cooks! All the appliances stay and a breakfast bar open to the living room. If it is outdoor space you desire, the unit also has a patio with easy access from the main living area. The home is total electric all appliances are included.

14. 2023-10-16
    listed $185,000 Active 874-char remark

    Show marketing remark (874 chars)

    Looking for SW maintenance provided home with Zero Entry? Ventana Villa is just the spot. As you pull up you first notice the 2 car garage and side yard leading to front porch area. Once you enter, you immediately notice the front bedroom with large closet and to your left, the open floor plan. The kitchen flows right into the living room. the vaulted ceiling gives a fell of grandeur and space. The master suite if off the living area and would fit a multitude of furniture pieces. The walk-in shower is a bonus and walk-in closet also serves the safe room. Kitchen features beautiful walnut cabinetry and ample counter space for most cooks! All the appliances stay and a breakfast bar open to the living room. If it is outdoor space you desire, the unit also has a patio with easy access from the main living area. The home is total electric all appliances are included.

ⓘ 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: $3,127 · $261/mo
• Projected year-2 tax: $3,127 · $261/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 5/10 Major
• 🌡 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: $30,456
• − Mortgage interest: −$11,147
• − Property taxes: −$3,127
• − Insurance: −$995
• − Repairs & maintenance: −$2,436
• − Management: −$2,436
• − HOA: −$2,160
• − Depreciation: −$5,789
• Taxable income: $2,365
• Est. tax owed @ 24.0%: −$568
• After-tax cash flow: $4,688/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): 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

+7.6% since first listed

6 events — show timeline

• 2026-05-18 Pending — Sunflower MLS as distributed by MLS GRID
• 2026-05-14 Listed $199,000 Sunflower MLS as distributed by MLS GRID
• 2024-01-19 Sold (Public Records) — Public Records
• 2024-01-19 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2023-12-20 Pending — Sunflower MLS as distributed by MLS GRID
• 2023-10-16 Listed $185,000 Sunflower MLS as distributed by MLS GRID

Property tax history

+2.7%/yr

Latest (2025): $3,127 · +3.7% YoY. Source: county tax records.