3323 Iowa St #337 · Lawrence, KS 66046

$46,600

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 34 Days on market

Built 2026 Fair condition

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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
• Rent growth +4.8/5.0
• Livability +4.4/5.0
• Schools +3.2/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

* THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a soccer field, a playground, a clubhouse, and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2026
• Listed 33 days

Property features AI

Finance

• Other: Listing provided by Zillow (information deemed reliable but not guaranteed)
• Financial info: List price: 46100

Exterior

• Utilities: Natural gas heating; Central air conditioning
• Home design: Spec inventory type; Plan: 93222; Active listing status
• Exterior features: Address: 3323 Iowa St #337, Lawrence, KS 66046

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Living area of 1216 (listed under property information)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $47k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $47k).
• Recommended offer: $45k (3.0% below list) — sets the bar for market timing.
• Cap rate 33.3% 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.
• Market conditions: Rents rising fast (+9.4%/yr); 62 active listings in the ZIP; 246 units permitted in Douglas County in 2024 (38 in 5+ unit buildings).
• This rent runs 32% of the median local income ($65k/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 $322 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($45k) is reasonable based on typical stale-listing flexibility.

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 $45,202 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 3.72% ✓
• Cap rate: 33.29%
• Cash-on-cash: 96.40%
• DSCR: 5.29
• GRM: 2.2

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: —
• Equity multiple: 6.24×
• Total profit: $68,402
• Equity at exit: $6,948

10-year hold

• IRR: —
• Equity multiple: 15.36×
• Total profit: $187,353
• Equity at exit: $4,029

Cash invested: $13,048 (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 66046

• Rents YoY: 9.4%
• Active inventory: 62
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,734 medium
• Mortgage (P&I): −$244
• Tax est. 1.5%: −$58 /mo · $699/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $1,048

Break-even live

Break-even rent $408

Max offer price $46,600

Occupancy floor 35%

Sensitivity live

Price	-10% $1,080	-5% $1,064	+0% $1,048	+5% $1,032	+10% $1,016
Rent	-10% $911	-5% $980	+0% $1,048	+5% $1,117	+10% $1,185
Rate	-1.0pp $1,072	-0.5pp $1,060	base $1,048	+0.5pp $1,036	+1.0pp $1,024

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: $11,650
• Closing costs: $1,398
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $46,600 Active 34 DOM
2. 2026-06-19
   days on market $46,600 Active 32 DOM
3. 2026-06-18
   days on market $46,600 Active 31 DOM
4. 2026-06-17
   days on market $46,600 Active 30 DOM
5. 2026-06-16
   days on market $46,600 Active 29 DOM
6. 2026-06-15
   days on market $46,600 Active 28 DOM
7. 2026-06-14
   days on market $46,600 Active 26 DOM
8. 2026-06-13
   days on market $46,600 Active 25 DOM
9. 2026-06-09
   days on market $46,600 Active 22 DOM
10. 2026-06-08
    days on market $46,600 Active 21 DOM
11. 2026-06-07
    days on market $46,600 Active 20 DOM
12. 2026-06-05
    days on market $46,600 Active 17 DOM
13. 2026-06-02
    days on market $46,600 Active 15 DOM
14. 2026-06-01
    pricedays on market $46,600 Active 14 DOM
15. 2026-05-31
    days on market $46,100 Active 13 DOM
16. 2026-05-30
    days on market $46,100 Active 12 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,814
• − Mortgage interest: −$2,610
• − Property taxes: −$699
• − Insurance: −$233
• − Repairs & maintenance: −$1,665
• − Management: −$1,665
• − Depreciation: −$1,356
• Taxable income: $12,586
• Est. tax owed @ 24.0%: −$3,021
• After-tax cash flow: $9,558/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

This 3-bedroom, 2-bathroom home requires moderate repairs and maintenance, particularly to the exterior siding and interior walls. Updates to the exterior and interior can significantly enhance its resale and rental value.

Repairs flagged

• Minor exterior siding — Some discoloration
• Minor interior walls — Paint appears worn

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace carpet with hardwood or tile flooring — Hardwood or tile flooring is more durable and adds value
• Both Update bathrooms with new fixtures and paint — Modern bathrooms attract more buyers and renters
• Both Paint exterior siding — Fresh paint improves curb appeal and can add value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Some discoloration	Minor	$500–3,000
interior walls · Paint appears worn	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace carpet with hardwood or tile flooring — Hardwood or tile flooring is more durable and adds value ↑
• Both Update bathrooms with new fixtures and paint — Modern bathrooms attract more buyers and renters ↑
• Both Paint exterior siding — Fresh paint improves curb appeal and can add value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 19,658
• Household income: $65,478
• Rent vs Own: 55.2% rent · 44.8% own
• Severe rent burden: 1201.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 10% Asian 9% Hispanic / Latino 7% Black 6% Native American 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Iranian 3% Italian 2%
• Foreign-born: 11% · China, Canada, Vietnam
• Languages at home: 85% English-only · Chinese 4% Spanish 3% Other Asian/Pacific 2%

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: ▼ -246.73%
• Current HPI: 236.534
• Rent YoY: ▲ 9.36%
• Metro: Lawrence, KS
• State GDP YoY: —
• F500 in state: 0