8270 Perry St · Overland Park, KS 66204

$240,000

3 bd · 2.0 ba · 1,360 sqft · MultiFamily public records · 24 Days on market

Built 1980 5,233 sqft 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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• 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

Stop searching and start packing! Discover the perfect blend of comfort and convenience in this newly updated 3-bedroom, 2-bath home, perfectly situated in the heart of Overland Park. The light-filled main level features fresh interior paint, new flooring, light fixtures and updated baths. Relax in the vaulted great room, anchored by a charming stone fireplace. The third bedroom is in the lower level plus a full bath and rec room. The home has a 1-car attached garage and no HOA fee. This home is just minutes from Downtown Overland Park, top-rated Shawnee Mission Schools, parks, shopping, and major highways. This prime property is ready for you to move in!

Key facts

• Garage
• Built 1980
• Listed 24 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.1% 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: Apache Elem (math 24% / reading 31%, grade F, #505 of 684 statewide, top 74%, 526 students, 72% FRL) — zoned schools average 72% FRL vs 29% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 42% district-wide (-14 pts) — the specific schools serving this property underperform the Shawnee Mission Pub Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.8%/yr); 70 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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 $3,419/mo this rent would consume 54% of the median local household income ($76k/yr) (locally 935% 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 $7k 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 + 4.8% rent growth), your $67k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y 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.

Recommended offer $236,400 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.42% ✓
• Cap rate: 12.10%
• Cash-on-cash: 20.74%
• DSCR: 1.92
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.79% rent growth · sell at horizon

5-year hold

• IRR: 15.0%
• Equity multiple: 1.61×
• Total profit: $41,319
• Equity at exit: $35,785

10-year hold

• IRR: 25.0%
• Equity multiple: 3.35×
• Total profit: $157,809
• Equity at exit: $20,751

Cash invested: $67,200 (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 66204

• Rents YoY: 4.8%
• Active inventory: 70
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $3,419 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$181 /mo · $2,174/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$718
• Net cashflow: $1,161

Break-even live

Break-even rent $1,949

Max offer price $240,000

Occupancy floor 61%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,418
Total (2 units)			$3,419

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8342 Wedd St Overland Park, KS	1.0–3.0	1.0–2.0	1223	$1,455	$1.19	23d	1	0.16mi
8100 Perry St Overland Park, KS	1.0–3.0	1.0–2.0	991	$1,850	$1.87	7d	10	0.18mi
8000 Perry St Overland Park, KS	1.0–3.0	1.0–2.0	998	$1,685	$1.69	1d	11	0.34mi
8403 Carter St Overland Park, KS	2.0–3.0	1.0–2.0	1732	$4,750	$2.74	10d	1	0.38mi
9551 W 85th St Overland Park, KS	1.0–3.0	1.0–2.5	1026	$1,225	$1.19	12d	2	0.45mi
9400 W 81st St Overland Park, KS	2.0	1.0	1050	$1,345	$1.28	12d	1	0.51mi
9634 W 87th St Overland Park, KS	2.0	2.5	1100	$1,475	$1.34	7d	4	0.57mi
7819 Carter St Overland Park, KS	1.0–2.0	1.0–1.5	850	$1,175	$1.38	23d	1	0.63mi
9213 W 79th St Overland Park, KS	1.0–2.0	1.0–2.0	906	$1,295	$1.43	1d	11	0.67mi
9010 W 82nd St Overland Park, KS	3.0	1.0	1360	$2,179	$1.60	4d	1	0.70mi
9526 W 78th St Overland Park, KS	2.0	2.0	1145	$1,800	$1.57	20d	1	0.72mi
7903 Grandview St Overland Park, KS	2.0	1.0	972	$1,295	$1.33	23d	1	0.79mi
9301 Santa Fe Ln Overland Park, KS	1.0–2.0	1.0–2.0	982	$3,642	$3.71	10d	1	0.82mi
7650 Goddard St Shawnee, KS	2.0	1.0–2.5	1225	$1,925	$1.57	14d	1	0.87mi
11501 W 81st St Overland Park, KS	2.0	1.0–2.0	901	$2,971	$3.30	1d	10	0.90mi
9130 W 78th St Overland Park, KS	3.0	2.0	1527	$1,745	$1.14	17d	1	0.90mi
9128 W 78th St Overland Park, KS	3.0	2.0	1527	$1,745	$1.14	12d	1	0.91mi
7350 Kings Cove Dr Merriam, KS	2.0	1.0–2.0	746	$1,449	$1.94	23d	1	1.10mi
7613 Flint St Overland Park, KS	1.0–3.0	1.0–2.0	1000	$1,730	$1.73	1d	16	1.17mi
7613 Flint St Overland Park, KS	1.0–3.0	1.0–2.0	1000	$1,750	$1.75	10d	13	1.17mi
8640 Hadley St Overland Park, KS	3.0	2.0	1100	$1,925	$1.75	21d	1	1.19mi
7530 Cody St Overland Park, KS	1.0–3.0	1.0–2.0	875	$1,726	$1.97	3d	28	1.31mi
7420 Flint St Shawnee, KS	1.0–2.0	1.0–2.0	917	$1,399	$1.53	1d	16	1.36mi
7106 Mastin St Unit 1 Shawnee, KS	3.0	3.5	1700	$2,300	$1.35	4d	1	1.38mi
8325 Lowell Ave Unit 6 Overland Park, KS	2.0	1.0	900	$1,195	$1.33	7d	1	1.42mi
7801 W 83rd St Overland Park, KS	1.0–2.0	1.0–2.0	875	$1,450	$1.66	7d	3	1.44mi
8300 Robinson St Apt 2 Overland Park, KS	2.0	2.0	950	$1,450	$1.53	23d	1	1.45mi
10405 W 70th Ter Shawnee, KS	1.0–2.0	1.0–2.0	830	$1,540	$1.86	23d	1	1.48mi

Listing history 12 events

1. 2026-04-19
   status Pending
2. 2026-03-27
   listed $240,000 Active
3. 2026-03-24
   historical $240,000
4. 2025-04-23
   historical
5. 2025-04-22
   status Active
6. 2025-04-12
   status Pending
7. 2025-04-02
   status Active
8. 2025-03-24
   status Pending
9. 2025-03-21
   listed $190,000 Active
10. 2008-07-23
    soldstatus
11. 2008-02-08
    listed $124,500
12. 2007-10-05
    listed $124,500

ⓘ 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: $2,174 · $181/mo
• Projected year-2 tax: $3,384 · $282/mo
• Expected delta: +$1,210/yr (+$101/mo · 55.7%)

ⓘ 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 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: $41,028
• − Mortgage interest: −$13,444
• − Property taxes: −$2,174
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,282
• − Management: −$3,282
• − Depreciation: −$6,982
• Taxable income: $10,664
• Est. tax owed @ 24.0%: −$2,559
• After-tax cash flow: $11,376/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): 17,948
• Household income: $75,889
• Rent vs Own: 51.1% rent · 48.9% own
• Severe rent burden: 935.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 17% Two or more races 10% Black 7% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 2% Serbian 2% Slovak 2%
• Foreign-born: 9% · Canada
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 1% Arabic 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: ▼ -355.92%
• Current HPI: 266.5058
• Rent YoY: ▲ 4.79%
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+92.8% since first listed

12 events — show timeline

• 2026-04-19 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-03-27 Listed $240,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-24 Coming Soon $240,000 Heartland MLS as Distributed by MLS Grid
• 2025-04-23 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-04-22 Relisted — Heartland MLS as Distributed by MLS Grid
• 2025-04-12 Pending — Heartland MLS as Distributed by MLS Grid
• 2025-04-02 Relisted — Heartland MLS as Distributed by MLS Grid
• 2025-03-24 Pending — Heartland MLS as Distributed by MLS Grid
• 2025-03-21 Listed $190,000 Heartland MLS as Distributed by MLS Grid
• 2008-07-23 Sold (Public Records) — Public Records
• 2008-02-08 Listed $124,500 Heartland MLS as Distributed by MLS Grid
• 2007-10-05 Listed $124,500 Heartland MLS as Distributed by MLS Grid

Property tax history

+6.0%/yr

Latest (2025): $2,174 · +2.2% YoY. Source: county tax records.