2500 SE Maryland Ave · Topeka, KS 66609

$79,900

4 bd · 2.0 ba · 1,444 sqft · SingleFamily public records · 5 Days on market

Built 1930 0.50 ac lot Est $101k · 21% under ↓ 5% since listing

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check this one out! 4 bedroom, 2 bath bungalow on a corner lot. Updated heating system to keep you warm in the colder months. Large lot, with fenced back yard, and large storage shed with concrete floor. Many updates, including boiler, hot water heater, electrical panel, and brand new carpet on the upper level. Plenty of off street parking with two entry ways, and a spacious, covered deck to enjoy evenings outside. Located just blocks from all the conveniences you will need.

Key facts

• Extra parking
• Spacious corner lot
• Storage shed

Tags

• ORIGINAL HARDWOOD FLOORS
• FUNCTIONAL LAYOUT
• SPACIOUS CORNER LOT
• EXTRA PARKING
• STORAGE SHED

Property features AI

Exterior

• Utilities: Public sewer
• Home design: Single-family residence; One and one-half stories; Residential property
• Exterior features: Partial fencing; Corner lot

Interior

• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Window unit(s) for cooling
• Interior features: Hardwood floors; Gas water heater; Basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 11.4% 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-, crime F, commute F.
• Topeka Public Schools (urban): math 17% / reading 23% proficiency, ranked #158 of 169 in KS (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Highland Park Central (math 8% / reading 12%, grade F, #660 of 684 statewide, top 98%, 308 students, 92% FRL); Eisenhower Middle School (math 10% / reading 8%, grade F, #204 of 219 statewide, top 94%, 486 students, 90% FRL); Highland Park High (math 8% / reading 12%, grade F, #306 of 327 statewide, top 95%, 857 students, 85% FRL) — zoned schools average 89% FRL vs 69% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 39 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $552 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.44% ✓
• Cap rate: 11.43%
• Cash-on-cash: 18.34%
• DSCR: 1.82
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $101,080
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2310 SE Massachusetts Ave	0.26mi	3/1.0 (-1)	1,428 (-1%)	4mo	$100,000	$70	74
2424 SE Kentucky Ave	0.23mi	4/2.0	1,385 (-4%)	21mo	$93,330	$67	65

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: 10.0%
• Equity multiple: 1.40×
• Total profit: $8,850
• Equity at exit: $11,913

10-year hold

• IRR: 19.2%
• Equity multiple: 2.60×
• Total profit: $35,846
• Equity at exit: $6,908

Cash invested: $22,372 (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 66609

• Home prices YoY: -14.6%
• Active inventory: 39
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,149 high
• Mortgage (P&I): −$419
• Tax from tax record: −$113 /mo · $1,361/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $342

Break-even live

Break-even rent $716

Max offer price $79,900

Occupancy floor 65%

Sensitivity live

Price	-10% $387	-5% $364	+0% $342	+5% $319	+10% $297
Rent	-10% $251	-5% $296	+0% $342	+5% $387	+10% $433
Rate	-1.0pp $382	-0.5pp $362	base $342	+0.5pp $321	+1.0pp $300

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
501 SE 25th St Topeka, KS	3.0	1.5	1200	$1,295	$1.08	23d	1	0.28mi
2704 SE Massachusetts Ave Topeka, KS	3.0	1.0	936	$950	$1.01	23d	1	0.28mi
2435 SE Colorado Ave Topeka, KS	3.0	1.0	1100	$1,200	$1.09	23d	1	0.70mi
3317 SE Bryant St Topeka, KS	3.0	1.0	1000	$1,050	$1.05	23d	1	1.06mi
2351 SE Bellview Ave Topeka, KS	1.0–3.0	1.0–1.5	1132	$1,306	$1.15	23d	1	1.12mi
1110 SE Powell St Unit 12-2169 Topeka, KS	3.0	1.5	909	$980	$1.08	23d	1	1.38mi

Listing history 8 events

1. 2026-06-02
   status $79,900 Pending 5 DOM
2. 2026-06-01
   days on market $79,900 Active 5 DOM
3. 2026-05-31
   days on market $79,900 Active 4 DOM
4. 2026-05-30
   days on market $79,900 Active 3 DOM
5. 2026-05-27
   listed $79,900 Active
6. 2022-03-28
   soldstatus 479-char remark

   Show marketing remark (479 chars)

   Check this one out! 4 bedroom, 2 bath bungalow on a corner lot. Updated heating system to keep you warm in the colder months. Large lot, with fenced back yard, and large storage shed with concrete floor. Many updates, including boiler, hot water heater, electrical panel, and brand new carpet on the upper level. Plenty of off street parking with two entry ways, and a spacious, covered deck to enjoy evenings outside. Located just blocks from all the conveniences you will need.

7. 2022-01-06
   listed $84,000 479-char remark

   Show marketing remark (479 chars)

   Check this one out! 4 bedroom, 2 bath bungalow on a corner lot. Updated heating system to keep you warm in the colder months. Large lot, with fenced back yard, and large storage shed with concrete floor. Many updates, including boiler, hot water heater, electrical panel, and brand new carpet on the upper level. Plenty of off street parking with two entry ways, and a spacious, covered deck to enjoy evenings outside. Located just blocks from all the conveniences you will need.

8. 2002-09-18
   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: $1,361 · $113/mo
• Projected year-2 tax: $1,361 · $113/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,785
• − Mortgage interest: −$4,476
• − Property taxes: −$1,361
• − Insurance: −$400
• − Repairs & maintenance: −$1,103
• − Management: −$1,103
• − Depreciation: −$2,324
• Taxable income: $3,019
• Est. tax owed @ 24.0%: −$725
• After-tax cash flow: $3,377/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: Topeka Public Schools
• NCES district ID: 2012260
• Math proficiency: 17% ▼ -8.00%
• Reading proficiency: 23% ▼ -2.00%
• Median HH income: $37,405
• Composite: 16.69/100
• National rank: #9167
• State rank: #158 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

• Census place: Topeka, KS
• City population: 118,130
• Population (ZIP): 7,912

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 15% Two or more races 11% Black 9%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 5% Iranian 2% Slovak 2%
• Foreign-born: 7% · Canada
• Languages at home: 83% English-only · Spanish 13% Russian/Polish/Slavic 2% Tagalog/Filipino 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: ▼ -38.27%
• Current HPI: 223.4808
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-4.9% since first listed

4 events — show timeline

• 2026-05-27 Listed $79,900 Sunflower MLS as distributed by MLS GRID
• 2022-03-28 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2022-01-06 Listed $84,000 Sunflower MLS as distributed by MLS GRID
• 2002-09-18 Sold (Public Records) — Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,361 · +6.3% YoY. Source: county tax records.