7132 SW Lario Ln · Topeka, KS 66619

$93,500

2 bd · 1.0 ba · 924 sqft · MultiFamily public records · 78 Days on market

Built 1962 0.25 ac lot

---

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
• Schools +3.5/10.0
• Livability +3.5/5.0
• Appreciation +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Nice 2 bedroom Ranch. Eat in kitchen, large living room. Located close to shopping and dining. Nice level fenced yard. This is a homepath property.

Key facts

• Kitchen countertop
• Carport
• Large level lot

Tags

• SPACIOUS LIVING ROOM
• EAT-IN KITCHEN
• LUXURY VINYL FLOORING
• KITCHEN COUNTERTOP
• LARGE LEVEL LOT
• CARPORT

Property features AI

Finance

• Other: Property taxes listed (not included as financial detail)

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer
• Home design: Residential half-duplex; Single-story (above grade finished area 924)
• Construction: Frame construction
• Exterior features: Public water; Public sewer; Lot in Montara subdivision

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air
• Interior features: Electric range; Refrigerator; Vinyl flooring; Central air conditioning
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $94k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $94k).
• Recommended offer: $88k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.0% 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.
• 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.
• Zoned schools: Pauline Central Primary (math 22% / reading 27%, grade F, #540 of 684 statewide, top 82%, 410 students, 74% FRL); Washburn Rural Middle School (math 28% / reading 31%, grade F, #72 of 219 statewide, top 38%, 943 students, 36% FRL); Washburn Rural High (math 25% / reading 30%, grade F, #83 of 327 statewide, top 25%, 1,884 students, 31% FRL) — zoned schools average 47% FRL vs 24% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 6 active listings in the ZIP; 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 $646 of loan paydown is wiped out by about $3k 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 $26k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $94k implies a 260% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $87,890 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.70% ✓
• Cap rate: 24.02%
• Cash-on-cash: 63.32%
• DSCR: 3.82
• GRM: 3.1

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: 62.3%
• Equity multiple: 3.78×
• Total profit: $72,851
• Equity at exit: $13,941

10-year hold

• IRR: 66.9%
• Equity multiple: 7.75×
• Total profit: $176,805
• Equity at exit: $8,084

Cash invested: $26,180 (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 66619

• Home prices YoY: -1.4%
• Active inventory: 6
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,526 medium
• Mortgage (P&I): −$490
• Tax from tax record: −$85 /mo · $1,018/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $1,381

Break-even live

Break-even rent $777

Max offer price $93,500

Occupancy floor 40%

Sensitivity live

Price	-10% $1,434	-5% $1,408	+0% $1,381	+5% $1,355	+10% $1,328
Rent	-10% $1,182	-5% $1,282	+0% $1,381	+5% $1,481	+10% $1,581
Rate	-1.0pp $1,429	-0.5pp $1,405	base $1,381	+0.5pp $1,357	+1.0pp $1,333

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,526
Total (2 units)			$2,526

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: $23,375
• Closing costs: $2,805
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $93,500 Active 78 DOM
2. 2026-06-19
   days on market $93,500 Active 76 DOM
3. 2026-06-18
   days on market $93,500 Active 75 DOM
4. 2026-06-17
   days on market $93,500 Active 74 DOM
5. 2026-06-16
   days on market $93,500 Active 73 DOM
6. 2026-06-15
   days on market $93,500 Active 72 DOM
7. 2026-06-14
   days on market $93,500 Active 70 DOM
8. 2026-06-13
   pricedays on market $93,500 Active 69 DOM
9. 2026-06-10
   days on market $94,500 Active 67 DOM
10. 2026-06-09
    days on market $94,500 Active 66 DOM
11. 2026-06-08
    days on market $94,500 Active 65 DOM
12. 2026-06-07
    days on market $94,500 Active 64 DOM
13. 2026-06-03
    days on market $94,500 Active 60 DOM
14. 2026-06-02
    days on market $94,500 Active 59 DOM
15. 2026-06-01
    days on market $94,500 Active 58 DOM
16. 2026-06-01
    price $94,500 Active 57 DOM
17. 2026-05-31
    days on market $95,500 Active 57 DOM
18. 2026-05-30
    days on market $95,500 Active 56 DOM
19. 2026-05-22
    price $95,500
20. 2026-05-15
    price $96,500
21. 2026-05-08
    price $97,500
22. 2026-04-30
    price $98,500
23. 2026-04-05
    listed $99,500 Active
24. 2025-07-31
    historical $1,050
25. 2025-07-26
    listed $1,050
26. 2025-07-02
    price $94,900
27. 2024-04-25
    historical $900
28. 2024-04-16
    listed $900
29. 2022-06-25
    price $715
30. 2014-07-17
    soldstatus 147-char remark

    Show marketing remark (147 chars)

    Nice 2 bedroom Ranch. Eat in kitchen, large living room. Located close to shopping and dining. Nice level fenced yard. This is a homepath property.

31. 2014-05-21
    listed $36,000 147-char remark

    Show marketing remark (147 chars)

    Nice 2 bedroom Ranch. Eat in kitchen, large living room. Located close to shopping and dining. Nice level fenced yard. This is a homepath property.

32. 1995-04-01
    soldstatus $26,000

ⓘ 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: $1,018 · $85/mo
• Projected year-2 tax: $1,318 · $110/mo
• Expected delta: +$300/yr (+$25/mo · 29.5%)

ⓘ 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 3/10 Moderate
• 🌡 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,312
• − Mortgage interest: −$5,237
• − Property taxes: −$1,018
• − Insurance: −$468
• − Repairs & maintenance: −$2,425
• − Management: −$2,425
• − Depreciation: −$2,720
• Taxable income: $16,019
• Est. tax owed @ 24.0%: −$3,845
• After-tax cash flow: $12,732/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

• City population: 118,130
• Population (ZIP): 3,069

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 59% Black 27% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 4% Serbian 1%
• Languages at home: 99% English-only · Spanish 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: ▼ -3.31%
• Current HPI: 233.9724
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+267.3% since first listed

14 events — show timeline

• 2026-05-22 Price Changed $95,500 Sunflower MLS as distributed by MLS GRID
• 2026-05-15 Price Changed $96,500 Sunflower MLS as distributed by MLS GRID
• 2026-05-08 Price Changed $97,500 Sunflower MLS as distributed by MLS GRID
• 2026-04-30 Price Changed $98,500 Sunflower MLS as distributed by MLS GRID
• 2026-04-05 Listed $99,500 Sunflower MLS as distributed by MLS GRID
• 2025-07-31 Rental Removed $1,050 TENANTTURNER2
• 2025-07-26 Listed for Rent $1,050 TENANTTURNER2
• 2025-07-02 Price Changed $94,900 Sunflower MLS as distributed by MLS GRID
• 2024-04-25 Rental Removed $900 APPFOLIO
• 2024-04-16 Listed for Rent $900 APPFOLIO
• 2022-06-25 Price Changed $715 RENT.
• 2014-07-17 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2014-05-21 Listed $36,000 Sunflower MLS as distributed by MLS GRID
• 1995-04-01 Sold (Public Records) $26,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,018 · +8.3% YoY. Source: county tax records.