4330 Merriam Dr · Overland Park, KS 66203

$199,900

3 bd · 2.0 ba · 1,931 sqft · MultiFamily public records · 79 Days on market

Built 1910 0.58 ac lot

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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 +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 (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

LOCATION , LOCATION , LOCATION. Hard to find . 58 ac close to I-35 and I-635. This is an over under duplex. Vacant and ready for you to live in one side and rent out the other.

Key facts

• Over under duplex
• 0.58 acre lot
• Garage

Tags

• OVER UNDER DUPLEX
• CLOSE TO I-35 AND I-635

Property features AI

Finance

• Other: Zoned RES
• Financial info: Operating expenses include other items (multi-family)
• HOA & community: No association fees

Exterior

• Parking: Carport and off-street parking; Garage available; Total parking for about 15 vehicles
• Utilities: City/public water (verify); Public sewer; Individual heating, cooling and water heaters
• Home design: Residential income property (duplex); Two-story building; Over-under (stacked) unit configuration
• Construction: Brick/mortar construction; Composition roof
• Exterior features: Approximately 0.58-acre lot (public records); Located inside city limits

Interior

• Bedrooms: Units include 2-bedroom and 1-bedroom layouts; Two 2-bedroom units (total unit count includes two 2-bedroom units and one 1-bedroom unit listed under unit types)
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Basement present; Individually metered heating and air systems; Individual water heaters
• Laundry & utility: Individual utilities for each unit

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $571/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.2% 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: Merriam Park Elementary (math 29% / reading 39%, grade F, #416 of 684 statewide, top 61%, 431 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: 80 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 $3,160/mo this rent would consume 50% of the median local household income ($76k/yr) (locally 542% 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 $1k of loan paydown is wiped out by about $6k 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 + 3.0% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 8 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.58% ✓
• Cap rate: 13.15%
• Cash-on-cash: 24.50%
• DSCR: 2.09
• GRM: 5.3

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: 17.9%
• Equity multiple: 1.72×
• Total profit: $40,425
• Equity at exit: $29,806

10-year hold

• IRR: 26.3%
• Equity multiple: 3.31×
• Total profit: $129,050
• Equity at exit: $17,284

Cash invested: $55,972 (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 66203

• Active inventory: 80
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $3,160 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$222 /mo · $2,664/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$664
• Net cashflow: $1,143

Break-even live

Break-even rent $1,713

Max offer price $199,900

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$3,160
Total (2 units)			$3,160

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7205 W 55th Ter Mission, KS	2.0	2.5	1300	$1,730	$1.33	3d	1	1.12mi
6608 W 54th St Mission, KS	4.0	2.0	2200	$3,000	$1.36	1d	1	1.20mi
5402 Knox Ave Shawnee, KS	3.0	2.5	1250	$2,450	$1.96	1d	1	1.26mi

Listing history 16 events

1. 2026-05-05
   status Active
2. 2026-05-04
   historical
3. 2026-04-16
   status Active
4. 2026-03-13
   status Pending
5. 2026-02-04
   listed $199,900 Active
6. 2024-02-25
   historical
7. 2023-12-02
   price $355,000
8. 2023-11-18
   listed $370,000 Active
9. 2023-11-07
   historical
10. 2023-11-03
    listed $430,000 Active
11. 2023-03-09
    historical
12. 2022-10-17
    listed $580,000 Active
13. 2018-01-15
    soldstatus Sold
14. 2017-12-05
    historical Contingent - Accepting Backup Offers
15. 2017-09-29
    listed $1,300,000 Active
16. 2014-06-13
    listed $149,950

ⓘ 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: $2,664 · $222/mo
• Projected year-2 tax: $2,819 · $235/mo
• Expected delta: +$155/yr (+$13/mo · 5.8%)

ⓘ 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 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: $37,920
• − Mortgage interest: −$11,198
• − Property taxes: −$2,664
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,034
• − Management: −$3,034
• − Depreciation: −$5,815
• Taxable income: $11,177
• Est. tax owed @ 24.0%: −$2,682
• After-tax cash flow: $11,031/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): 19,441
• Household income: $75,869
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 542.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 7% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 3% Italian 2% Portuguese 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 85% English-only · Spanish 10% Other Asian/Pacific 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: ▼ -262.92%
• Current HPI: 269.0762
• Rent YoY: —
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+33.3% since first listed

16 events — show timeline

• 2026-05-05 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-05-04 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-04-16 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-03-13 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-02-04 Listed $199,900 Heartland MLS as Distributed by MLS Grid
• 2024-02-25 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2023-12-02 Price Changed $355,000 Heartland MLS as Distributed by MLS Grid
• 2023-11-18 Listed $370,000 Heartland MLS as Distributed by MLS Grid
• 2023-11-07 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2023-11-03 Listed $430,000 Heartland MLS as Distributed by MLS Grid
• 2023-03-09 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2022-10-17 Listed $580,000 Heartland MLS as Distributed by MLS Grid
• 2018-01-15 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2017-12-05 Contingent — Heartland MLS as Distributed by MLS Grid
• 2017-09-29 Listed $1,300,000 Heartland MLS as Distributed by MLS Grid
• 2014-06-13 Listed $149,950 Heartland MLS as Distributed by MLS Grid

Property tax history

+9.1%/yr

Latest (2025): $2,664 · -3.8% YoY. Source: county tax records.