12338 W 105th Ter · Overland Park, KS 66215

$325,000

3 bd · 2.0 ba · 1,722 sqft · MultiFamily public records · 12 Days on market

Built 1984 3,410 sqft lot $95/mo HOA · 4% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• 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

Enjoy stunning green space views from the deck and patio of this 3 Bedroom, 2 Bath Pepper Pointe home. Main level features an expansive living & dining area, eat-in kitchen, Master Bedroom & laundry. The walkout lower level has 2 bedrooms, a full bath, spacious family room & storage. Roof replaced ~2013, Pella thermal windows (w/ built-in blinds) and Pella sliding doors installed about 5 years ago and new lower level carpet installed this month. Front concrete drive and sidewalk are newer and in great condition.

Key facts

• $95 HOA
• 2 garage spots
• Built 1984

Property features AI

Finance

• Other: Living area reported as 1,722 (total above- and below-grade finished areas reported separately); Lot size reported from public records
• HOA & community: Pepper Pointe HOA with a monthly fee of $95; HOA covers lawn service, snow removal, and trash; Maintenance provided for lawn and snow

Exterior

• Parking: Attached garage facing front; 2-car garage
• Utilities: Public water; Public sewer; Cable, fiber, and high-speed internet available
• Home design: Residential half-duplex (attached); Ranch / reverse 1.5-story floor plan
• Construction: Board & batten siding with frame construction; Composition roof
• Exterior features: Deck; Covered patio; Adjoins greenspace; City lot

Interior

• Kitchen: Pantry; Dishwasher; Disposal; Microwave; Refrigerator; Free‑standing electric oven
• Bedrooms: 3 bedrooms total — primary and living-level bedroom(s) on the first level; additional bedrooms on the lower level
• Flooring: Carpet
• Bathrooms: 2 full bathrooms; Shower-only bathroom(s); Ceramic tile in at least one bathroom
• Heating & cooling: Forced air heating; Electric cooling (central air)
• Interior features: Ceiling fans; Vaulted ceilings; Walk-in closets; Skylights; Thermal windows; Finished basement with full finish, walk-out access and sump pump; One fireplace with gas starter (wood burning) located in the basement
• Laundry & utility: Washer and dryer included; Main-level laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $325k).
• Cap rate 12.6% vs local median 3.9% in Overland Park — 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 80/100 on livability (#16 in KS, #1,851 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, crime B; Watch: health & safety C-, commute D+.
• Shawnee Mission Pub Schools (suburban): math 38% / reading 46% proficiency, ranked #22 of 169 in KS (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rosehill Elem (math 33% / reading 37%, grade F, #387 of 684 statewide, top 57%, 492 students, 58% FRL) — zoned schools average 58% FRL vs 29% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.0%/yr); 80 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,969 units permitted in Johnson County in 2024 (1,066 in 5+ unit buildings).
• At $4,932/mo this rent would consume 67% of the median local household income ($88k/yr) (locally 948% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $91k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $325,000

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 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?
4. 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.
5. 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.
6. 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: 1.52% ✓
• Cap rate: 12.59%
• Cash-on-cash: 22.49%
• DSCR: 2.00
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.97% rent growth · sell at horizon

5-year hold

• IRR: 17.5%
• Equity multiple: 1.72×
• Total profit: $65,944
• Equity at exit: $48,459

10-year hold

• IRR: 27.3%
• Equity multiple: 3.64×
• Total profit: $240,012
• Equity at exit: $28,100

Cash invested: $91,000 (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 66215

• Rents YoY: 5.0%
• Active inventory: 80
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $4,932 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$256 /mo · $3,077/yr
• Insurance: −$135
• HOA: −$95
• Vacancy / Maint / Mgmt: −$1,036
• Net cashflow: $1,705

Break-even live

Break-even rent $2,774

Max offer price $325,000

Occupancy floor 60%

Sensitivity live

Price	-10% $1,889	-5% $1,797	+0% $1,705	+5% $1,613	+10% $1,521
Rent	-10% $1,315	-5% $1,510	+0% $1,705	+5% $1,900	+10% $2,095
Rate	-1.0pp $1,869	-0.5pp $1,788	base $1,705	+0.5pp $1,621	+1.0pp $1,535

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

Units	Beds	Baths	Est. rent
1× unit	3	2	$2,608
1× unit	2	1	$2,323
Total (2 units)			$4,932

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11909 W 109th St Overland Park, KS	1.0–2.0	1.0–2.0	888	$3,535	$3.98	11d	1	0.43mi
10925 Hauser St Lenexa, KS	1.0–3.0	1.5–2.0	1525	$2,284	$1.50	2d	14	0.71mi
10460 Pflumm Rd Lenexa, KS	2.0–3.0	2.0	1112	$2,041	$1.84	2d	10	0.80mi
9670 Halsey St Lenexa, KS	1.0–3.0	1.0–2.0	1025	$1,775	$1.73	24d	1	1.05mi
10401 College Blvd Overland Park, KS	2.0	1.0–2.5	1120	$3,116	$2.78	2d	24	1.21mi
11260 S Hallet St Shawnee Mission, KS	2.0–3.0	3.5	2087	$3,380	$1.62	5d	16	1.45mi

HOA detail

• Monthly dues: $95 · $1,140/yr

Listing history 8 events

1. 2026-05-13
   status Pending
2. 2026-05-03
   historical Active Under Contract
3. 2026-05-01
   listed $325,000 Active
4. 2026-04-27
   historical $325,000
5. 2016-06-10
   soldstatus
6. 2016-06-06
   soldstatus Sold 536-char remark

   Show marketing remark (536 chars)

   Enjoy stunning green space views from the deck and patio of this 3 Bedroom, 2 Bath Pepper Pointe home. Main level features an expansive living & dining area, eat-in kitchen, Master Bedroom & laundry. The walkout lower level has 2 bedrooms, a full bath, spacious family room & storage. Roof replaced ~2013, Pella thermal windows (w/ built-in blinds) and Pella sliding doors installed about 5 years ago and new lower level carpet installed this month. Front concrete drive and sidewalk are newer and in great condition.

7. 2016-05-14
   status Pending 536-char remark

   Show marketing remark (536 chars)

   Enjoy stunning green space views from the deck and patio of this 3 Bedroom, 2 Bath Pepper Pointe home. Main level features an expansive living & dining area, eat-in kitchen, Master Bedroom & laundry. The walkout lower level has 2 bedrooms, a full bath, spacious family room & storage. Roof replaced ~2013, Pella thermal windows (w/ built-in blinds) and Pella sliding doors installed about 5 years ago and new lower level carpet installed this month. Front concrete drive and sidewalk are newer and in great condition.

8. 2016-05-13
   listed $163,000 Active 536-char remark

   Show marketing remark (536 chars)

   Enjoy stunning green space views from the deck and patio of this 3 Bedroom, 2 Bath Pepper Pointe home. Main level features an expansive living & dining area, eat-in kitchen, Master Bedroom & laundry. The walkout lower level has 2 bedrooms, a full bath, spacious family room & storage. Roof replaced ~2013, Pella thermal windows (w/ built-in blinds) and Pella sliding doors installed about 5 years ago and new lower level carpet installed this month. Front concrete drive and sidewalk are newer and in great condition.

ⓘ 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: $3,077 · $256/mo
• Projected year-2 tax: $4,582 · $382/mo
• Expected delta: +$1,506/yr (+$125/mo · 48.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 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: $59,184
• − Mortgage interest: −$18,205
• − Property taxes: −$3,077
• − Insurance: −$1,625
• − Repairs & maintenance: −$4,735
• − Management: −$4,735
• − HOA: −$1,140
• − Depreciation: −$9,455
• Taxable income: $16,213
• Est. tax owed @ 24.0%: −$3,891
• After-tax cash flow: $16,570/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: Shawnee Mission Pub Schools
• NCES district ID: 2011640
• Math proficiency: 38% ▼ -6.00%
• Reading proficiency: 46% ▼ -2.00%
• Median HH income: $64,923
• Composite: 37.55/100
• National rank: #4391
• State rank: #22 of 169 in KS

Livability — Overland Park

• Score: 80/100
• State rank: #16
• US rank: #1851

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Overland Park, KS
• County: Johnson County · 574,662 people
• City population: 180,138
• Metro: Kansas City, MO-KS
• Population (ZIP): 25,960
• Household income: $88,232
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 948.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 12% Two or more races 10% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 10% · Canada, Vietnam, China
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 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: ▼ -203.54%
• Current HPI: 259.3739
• Rent YoY: ▲ 4.97%
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+99.4% since first listed

8 events — show timeline

• 2026-05-13 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-03 Contingent — Heartland MLS as Distributed by MLS Grid
• 2026-05-01 Listed $325,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-27 Coming Soon $325,000 Heartland MLS as Distributed by MLS Grid
• 2016-06-10 Sold (Public Records) — Public Records
• 2016-06-06 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2016-05-14 Pending — Heartland MLS as Distributed by MLS Grid
• 2016-05-13 Listed $163,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2025): $3,077 · -3.8% YoY. Source: county tax records.