1737 Stone Crest Dr · Topeka, KS 66615

$199,900

3 bd · 2.5 ba · 1,667 sqft · SingleFamily public records · 38 Days on market

Built 2003 7,800 sqft lot Est $252k · 21% under

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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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +7.5/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss this one, it won't last long.

Key facts

• 7,800 sq ft lot
• 2 garage spots
• Built 2003

Property features AI

Finance

• Other: Living area reported as 2,842 total; Above-grade finished area reported as 1,667 (public records); Below-grade finished area reported as 1,175 (public records)
• HOA & community: No association fees

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2-story floor plan; Residential property
• Construction: Frame construction; Composition roof; Built approximately 21–30 years ago
• Exterior features: Lot approximately 7,800 square feet

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Electric cooling (has central cooling)
• Interior features: Full finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.3% in Topeka — 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 69/100 on livability (#195 in KS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools D-, crime F.
• Auburn Washburn (rural): math 34% / reading 42% proficiency, ranked #29 of 169 in KS (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 18 active listings in the ZIP; solid renter incomes; 219 units permitted in Shawnee County in 2024 (25 in 5+ unit buildings).

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.
• Shawnee County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F 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: 1.25% ✓
• Cap rate: 9.42%
• Cash-on-cash: 11.18%
• DSCR: 1.50
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $251,717
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1727 SW Hidden Valley Dr	0.07mi	3/2.5	1,660 (-0%)	19mo	$250,000	$151	80

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $887
• Equity at exit: $29,806

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $43,841
• 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 66615

• Home prices YoY: -12.3%
• Active inventory: 18
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,492 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$316 /mo · $3,791/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$523
• Net cashflow: $521

Break-even live

Break-even rent $1,832

Max offer price $199,900

Occupancy floor 74%

Sensitivity live

Price	-10% $634	-5% $578	+0% $521	+5% $465	+10% $408
Rent	-10% $324	-5% $423	+0% $521	+5% $620	+10% $718
Rate	-1.0pp $622	-0.5pp $572	base $521	+0.5pp $469	+1.0pp $417

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: —

Listing history 8 events

1. 2026-06-07
   statusdays on market $199,900 Pending 38 DOM
2. 2026-06-03
   days on market $199,900 Active 36 DOM
3. 2026-06-02
   days on market $199,900 Active 35 DOM
4. 2026-06-01
   days on market $199,900 Active 34 DOM
5. 2026-05-31
   days on market $199,900 Active 33 DOM
6. 2026-05-30
   days on market $199,900 Active 32 DOM
7. 2026-04-28
   listed $199,900 Active
8. 2020-05-01
   soldstatus

ⓘ 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: $3,791 · $316/mo
• Projected year-2 tax: $3,791 · $316/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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 6/10 Major
• 🌡 Heat 5/10 Major 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: $29,905
• − Mortgage interest: −$11,198
• − Property taxes: −$3,791
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,392
• − Management: −$2,392
• − Depreciation: −$5,815
• Taxable income: $3,317
• Est. tax owed @ 24.0%: −$796
• After-tax cash flow: $5,459/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: Auburn Washburn
• NCES district ID: 2003200
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $71,903
• Composite: 34.91/100
• National rank: #5073
• State rank: #29 of 169 in KS

Livability — Topeka

• Score: 69/100
• State rank: #195
• US rank: #8848

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Shawnee County · 118,130 people
• City population: 118,130
• Metro: Topeka, KS
• Population (ZIP): 2,943
• Household income: $107,656
• Rent vs Own: 29.2% rent · 70.8% own
• Severe rent burden: 77.0

Population outlook (Shawnee County) Hauer SSP2

• Today (2025): 179,277 people
• By 2030: 177,762 · -0.8%
• By 2040: 172,341 · -3.9%
• By 2050: 166,330 · -7.2%
• By 2075: 152,417 · -15.0%
• By 2100: 134,782 · -24.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 9% Hispanic / Latino 5%
• Common ancestry: Lithuanian 4% Iranian 4% Portuguese 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Shawnee

• 2024 margin: Toss-up / Even · D 49.3% · R 48.8% · Other 2.0%
• 2008→2024 swing: +0.8pp no change · 2008: -0.3pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+3.0 2016: R+2.8 2012: R+1.7 2008: R+0.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.55%
• Current HPI: 238.2642
• Rent YoY: —
• Metro: Topeka, KS
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-04-28 Listed $199,900 Heartland MLS as Distributed by MLS Grid
• 2020-05-01 Sold (Public Records) — Public Records

Property tax history

+4.8%/yr

Latest (2025): $3,791 · +4.2% YoY. Source: county tax records.