911 Ohio St · Lawrence, KS 66044

$644,900

6 bd · 4.0 ba · 2,930 sqft · MultiFamily public records · 11 Days on market

Built 1987 5,850 sqft lot

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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 +16.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Rent growth +4.8/5.0
• Livability +4.4/5.0
• 1% rule +4.1/10.0
• Schools +3.2/10.0
• 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: 4 units. confirmed

Listing remarks MLS

Investor Alert! Turnkey 4-plex with Strong Rental Income in a Prime Lawrence Location Just North of KU. Here's an opportunity to acquire a quality investment property that checks all the boxes: location, condition, and reliable cash flow. 911 Ohio Street is a well-maintained 4-plex located in the Oread Neighborhood, offering a prime location conveniently situated between the University of Kansas and Downtown. This location continues to attract strong tenant demand from a variety of renter profiles. The current owner has built a reputation for thoughtfully renovating properties to a higher standard than the typical rental unit. Through strategic updates and improvements, this 4-plex has been positioned to attract quality tenants while achieving above-average rental rates. Two of the units feature 2 bedrooms and 1 bathroom while two of the units offer 1 bedroom and 1 bathroom. With new leases scheduled to commence at the end of July / beginning of August, the property will generate $5,125 per month in gross rental income through July 28, 2027, providing investors with immediate and predictable cash flow. Whether you're looking to expand an existing portfolio or acquire a turnkey investment in one of Kansas' most stable rental markets, this property deserves serious consideration. This property is professionally managed by Foxtail Real Estate Co. , one of Lawrence's leading property management firms. For investors seeking a truly turnkey acquisition, Foxtail is prepared to continue management services after closing, providing a seamless transition of ownership and day-to-day operations. Buyers will benefit from established systems, tenant relations, and local market expertise from day one. Alternatively, the new owner retains the flexibility to self-manage or select the property management company of their choice. Rent rolls and financial information are available upon request.

Key facts

• Oread neighborhood
• Turnkey 4-plex
• Prime location

Tags

• TURNKEY 4-PLEX
• STRONG RENTAL INCOME
• PRIME LOCATION
• WELL-MAINTAINED 4-PLEX
• OREAD NEIGHBORHOOD
• CONVENIENTLY SITUATED

Property features AI

Finance

• Financial info: Gross income reported at $61,500; Operating expenses include other (unspecified) items; Current occupancy over 95%
• HOA & community: No association fees

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Residential income property (quadruplex); Two-story building; Zoned M-3
• Construction: Frame construction; Composition roof
• Exterior features: Not in a flood plain; Lot about 5,850 square feet

Interior

• Bedrooms: Two 1-bedroom units; Two 2-bedroom units
• Bathrooms: Four units each with 1 bathroom
• Heating & cooling: Forced air heating; Electric cooling (central AC present)
• Interior features: Separate meters for utilities

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/2.0-bath units multifamily listed at $645k.

Deal economics

• At list price, monthly cash flow is $352 ($4k/yr) — positive. Per door: $88/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $584k (9.4% below list).
• Recommended offer: $584k (9.4% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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.
• Zoned schools: New York Elem (math 22% / reading 37%, grade F, #463 of 684 statewide, top 73%, 416 students, 57% FRL); Lawrence Free State High (math 29% / reading 39%, grade F, #45 of 327 statewide, top 14%, 1,777 students, 32% FRL) — zoned schools average 44% FRL vs 29% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+9.0%/yr); 93 active listings in the ZIP; 246 units permitted in Douglas County in 2024 (38 in 5+ unit buildings).
• At $5,842/mo this rent would consume 125% of the median local household income ($56k/yr) (locally 2168% 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 $4k of loan paydown is wiped out by about $19k 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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $584,200 (9.4% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 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: 0.91% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.34%
• DSCR: 1.10
• GRM: 9.2

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: -7.3%
• Equity multiple: 0.72×
• Total profit: $-51,251
• Equity at exit: $96,157

10-year hold

• IRR: 7.5%
• Equity multiple: 1.69×
• Total profit: $124,619
• Equity at exit: $55,759

Cash invested: $180,572 (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: 36.8×

Monthly cashflow live

• Estimated rent: $5,842 medium
• Mortgage (P&I): −$3,382
• Tax from tax record: −$613 /mo · $7,353/yr
• Insurance: −$269
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,227
• Net cashflow: $352

Break-even live

Break-even rent $5,397

Max offer price $644,900

Occupancy floor 89%

Sensitivity live

Price	-10% $717	-5% $534	+0% $352	+5% $169	+10% $-13
Rent	-10% $-110	-5% $121	+0% $352	+5% $583	+10% $813
Rate	-1.0pp $677	-0.5pp $516	base $352	+0.5pp $185	+1.0pp $15

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	2	$5,844
Total (4 units)			$5,842

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: $161,225
• Closing costs: $19,347
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-19
   days on market $644,900 Active 11 DOM
2. 2026-06-18
   days on market $644,900 Active 10 DOM
3. 2026-06-17
   days on market $644,900 Active 9 DOM
4. 2026-06-16
   days on market $644,900 Active 8 DOM
5. 2026-06-15
   days on market $644,900 Active 7 DOM
6. 2026-06-14
   days on market $644,900 Active 5 DOM
7. 2026-06-13
   days on market $644,900 Active 4 DOM
8. 2026-06-10
   days on market $644,900 Active 2 DOM
9. 2026-06-09
   remarks 699-char remark
10. 2026-06-09
    listed $644,900 Active 1 DOM

ⓘ 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: $7,353 · $613/mo
• Projected year-2 tax: $9,093 · $758/mo
• Expected delta: +$1,740/yr (+$145/mo · 23.7%)

ⓘ 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 ≥110°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,104
• − Mortgage interest: −$36,124
• − Property taxes: −$7,353
• − Insurance: −$3,224
• − Repairs & maintenance: −$5,608
• − Management: −$5,608
• − Depreciation: −$18,761
• Taxable loss: −$6,575
• Est. tax savings @ 24.0%: +$1,578
• After-tax cash flow: $5,800/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: 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

Price history

+63.3% since first listed

14 events — show timeline

• 2026-06-08 Listed $644,900 Lawrence MLS as distributed by MLS GRID
• 2026-06-08 Listed $644,900 Heartland MLS as Distributed by MLS Grid
• 2024-08-16 Rental Removed $950 RENTALBEAST
• 2024-08-16 Rental Removed $950 RENTALBEAST
• 2024-08-15 Listed for Rent $950 RENTALBEAST
• 2024-07-24 Listed for Rent $1,450 RENTALBEAST
• 2024-02-21 Sold (Public Records) — Public Records
• 2023-12-22 Delisted — Lawrence MLS as distributed by MLS GRID
• 2023-12-22 Sold (Public Records) — Public Records
• 2023-12-22 Sold (MLS) — Lawrence MLS as distributed by MLS GRID
• 2023-12-12 Price Changed $325,000 Lawrence MLS as distributed by MLS GRID
• 2023-11-27 Contingent — Lawrence MLS as distributed by MLS GRID
• 2023-08-14 Listed $395,000 Lawrence MLS as distributed by MLS GRID
• 1991-09-10 Sold (Public Records) — Public Records

Property tax history

+133.0%/yr

Latest (2025): $7,353 · +133.0% YoY. Source: county tax records.