21710 S Madison St · Spring Hill, KS 66083

$399,990

4 bd · 2.5 ba · 2,053 sqft · Land · 74 Days on market

Built 2026 9,000 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.9/30.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see 21710 S Madison Street, one of our available homes in Maplewood Valley. The Bellamy is one of our two-story plans featured at Maplewood Valley in Spring Hill, KS. This gorgeous two-story home with impressive comfort and style offers four bedrooms, 2.5 bathrooms, and a two-car garage. Upon entering, you'll be greeted by an inviting foyer that connects you to the family room that flows into the dining area and kitchen. The gourmet kitchen has stainless steel appliances quartz countertops, ample cabinet space, and a large island with a breakfast bar, perfect for cooking or casual dining. Upstairs is the primary bedroom with large walk-in closet and a large bathroom with dual vanities. There are three other bedrooms and another full bathroom providing plenty of room to grow. Take advantage of this opportunity to make this new home yours at Maplewood Valley in Spring Hill near beautiful Kansas City. Pictures are representative.

Key facts

• Chef inspired range
• Two walk in closets
• Chefs kitchen

Tags

• FULL UNFINISHED BASEMENT
• CHEFS KITCHEN
• CHEF INSPIRED RANGE
• 30 INCH PAINTED MAPLE CABINETS
• WHITE QUARTZ COUNTERTOPS
• TWO WALK IN CLOSETS

Property features AI

Finance

• Other: 10-year warranty with 1-year builder coverage; Home includes radon mitigation system (basement features); Basement with egress windows, sump pump and stubbed for bath
• HOA & community: No association fees

Exterior

• Parking: Attached garage with garage door opener and front-facing garage; 2 garage spaces; Off-street parking
• Security: Security system; Smart door lock; Smoke detectors
• Utilities: Public water; Public sewer; Fiber and high-speed internet available
• Home design: Single-family residence; Under construction (estimated completion within 0–45 days); 2-story plan; Built by DR Horton (Bellamy model); 2 years old or less (age description)
• Construction: Vinyl siding with stone trim; Composition roof
• Exterior features: Patio; Located inside city limits; City lot on paved, publicly maintained road; Not in a flood plain

Interior

• Kitchen: Quartz countertops; Kitchen island; Stainless steel appliances; Electric range; Microwave; Dishwasher; Disposal
• Bedrooms: 4 bedrooms (primary suite on second level with walk-in closet); Secondary bedrooms on second level
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom; Upstairs bath(s) with quartz counters and shower-over-tub
• Heating & cooling: Electric heating; Heat pump; Exhaust fan; Electric cooling; Has cooling
• Interior features: Kitchen island; Painted cabinets; Pantry; Smart thermostat; Walk-in closets; Thermal windows; Kitchen/dining/family combos and eat-in kitchen
• Laundry & utility: Laundry room on second level

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath land listed at $400k.

Deal economics

• At list price, monthly cash flow is $-607 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $312k (22.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $273k (31.7% below list).
• Recommended offer: $273k (31.7% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 3.5% in Spring Hill — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 73/100 on livability (#93 in KS) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Spring Hill (rural): math 40% / reading 47% proficiency, ranked #11 of 169 in KS (top 6%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Spring Hill Elementary School (math 41% / reading 48%, grade F, #228 of 684 statewide, top 38%, 611 students, 31% FRL); Spring Hill High School (math 27% / reading 47%, grade F, #26 of 327 statewide, top 8%, 983 students, 18% FRL).
• Market conditions: 411 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 100 units permitted in Miami County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Miami County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($376k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $273,036 (31.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.68% ✗
• Cap rate: 4.47%
• Cash-on-cash: -6.51%
• DSCR: 0.71
• GRM: 12.2

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: -27.5%
• Equity multiple: 0.08×
• Total profit: $-103,451
• Equity at exit: $59,640

10-year hold

• IRR: -25.7%
• Equity multiple: -0.25×
• Total profit: $-139,718
• Equity at exit: $34,584

Cash invested: $111,997 (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 66083

• Home prices YoY: -32.9%
• Active inventory: 411
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,730 medium
• Mortgage (P&I): −$2,098
• Tax est. 1.5%: −$500 /mo · $6,000/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$573
• Net cashflow: $-607

Break-even live

Break-even rent $3,499

Max offer price $312,119

Occupancy floor —

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: $99,998
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21203 W 216th Ter Spring Hill, KS	2.0–4.0	2.5–3.5	1536	$2,395	$1.56	1d	20	0.25mi
201 E Hale St Spring Hill, KS	4.0	2.0	2300	$2,051	$0.89	12d	1	0.55mi
21743 Johnson Ct Spring Hill, KS	3.0	2.5	1781	$2,600	$1.46	1d	1	0.79mi

Listing history 14 events

1. 2026-06-13
   days on market $399,990 Pending 74 DOM
2. 2026-06-08
   statusdays on market $399,990 Pending 72 DOM
3. 2026-06-07
   days on market $399,990 Active 71 DOM
4. 2026-06-05
   days on market $399,990 Active 68 DOM
5. 2026-06-03
   days on market $399,990 Active 67 DOM
6. 2026-06-02
   days on market $399,990 Active 66 DOM
7. 2026-06-01
   days on market $399,990 Active 65 DOM
8. 2026-05-31
   days on market $399,990 Active 64 DOM
9. 2026-05-20
   price $399,990 945-char remark

   Show marketing remark (945 chars)

   Come see 21710 S Madison Street, one of our available homes in Maplewood Valley. The Bellamy is one of our two-story plans featured at Maplewood Valley in Spring Hill, KS. This gorgeous two-story home with impressive comfort and style offers four bedrooms, 2.5 bathrooms, and a two-car garage. Upon entering, you'll be greeted by an inviting foyer that connects you to the family room that flows into the dining area and kitchen. The gourmet kitchen has stainless steel appliances quartz countertops, ample cabinet space, and a large island with a breakfast bar, perfect for cooking or casual dining. Upstairs is the primary bedroom with large walk-in closet and a large bathroom with dual vanities. There are three other bedrooms and another full bathroom providing plenty of room to grow. Take advantage of this opportunity to make this new home yours at Maplewood Valley in Spring Hill near beautiful Kansas City. Pictures are representative.

10. 2026-05-19
    price $399,990
11. 2026-04-18
    price $405,990
12. 2026-04-16
    price $405,990 945-char remark

    Show marketing remark (945 chars)

    Come see 21710 S Madison Street, one of our available homes in Maplewood Valley. The Bellamy is one of our two-story plans featured at Maplewood Valley in Spring Hill, KS. This gorgeous two-story home with impressive comfort and style offers four bedrooms, 2.5 bathrooms, and a two-car garage. Upon entering, you'll be greeted by an inviting foyer that connects you to the family room that flows into the dining area and kitchen. The gourmet kitchen has stainless steel appliances quartz countertops, ample cabinet space, and a large island with a breakfast bar, perfect for cooking or casual dining. Upstairs is the primary bedroom with large walk-in closet and a large bathroom with dual vanities. There are three other bedrooms and another full bathroom providing plenty of room to grow. Take advantage of this opportunity to make this new home yours at Maplewood Valley in Spring Hill near beautiful Kansas City. Pictures are representative.

13. 2026-03-28
    listed $402,990 Active
14. 2026-02-25
    listed $402,990 Active 945-char remark

    Show marketing remark (945 chars)

    Come see 21710 S Madison Street, one of our available homes in Maplewood Valley. The Bellamy is one of our two-story plans featured at Maplewood Valley in Spring Hill, KS. This gorgeous two-story home with impressive comfort and style offers four bedrooms, 2.5 bathrooms, and a two-car garage. Upon entering, you'll be greeted by an inviting foyer that connects you to the family room that flows into the dining area and kitchen. The gourmet kitchen has stainless steel appliances quartz countertops, ample cabinet space, and a large island with a breakfast bar, perfect for cooking or casual dining. Upstairs is the primary bedroom with large walk-in closet and a large bathroom with dual vanities. There are three other bedrooms and another full bathroom providing plenty of room to grow. Take advantage of this opportunity to make this new home yours at Maplewood Valley in Spring Hill near beautiful Kansas City. Pictures are representative.

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

Taxation est. · year 1

• Rental income: $32,764
• − Mortgage interest: −$22,406
• − Property taxes: −$6,000
• − Insurance: −$2,000
• − Repairs & maintenance: −$2,621
• − Management: −$2,621
• − Depreciation: −$11,636
• Taxable loss: −$14,520
• Est. tax savings @ 24.0%: +$3,485
• After-tax cash flow: $-3,802/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: Spring Hill
• NCES district ID: 2011850
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 47% ▲ 5.00%
• Median HH income: $80,172
• Composite: 40.26/100
• National rank: #3767
• State rank: #11 of 169 in KS

Livability — Spring Hill

• Score: 73/100
• State rank: #93
• US rank: #5370

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spring Hill, KS
• County: Johnson County · 574,662 people
• City population: 13,011
• Metro: Kansas City, MO-KS
• Population (ZIP): 13,011
• Household income: $116,791
• Rent vs Own: 17.9% rent · 82.1% own
• Severe rent burden: 274.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 32,162 people
• By 2030: 31,472 · -2.1%
• By 2040: 29,611 · -7.9%
• By 2050: 27,277 · -15.2%
• By 2075: 22,738 · -29.3%
• By 2100: 18,479 · -42.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Lithuanian 3% Italian 3% Portuguese 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+39.5) · D 29.3% · R 68.8% · Other 1.9%
• 2008→2024 swing: -15.8pp toward R · 2008: -23.7pp · 2024: -39.5pp
• All cycles: 2024: R+39.5 2020: R+39.6 2016: R+40.0 2012: R+34.8 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -130.12%
• Current HPI: 265.6494
• Rent YoY: —
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

-0.7% since first listed

6 events — show timeline

• 2026-05-20 Price Changed $399,990 Zillow
• 2026-05-19 Price Changed $399,990 Heartland MLS as Distributed by MLS Grid
• 2026-04-18 Price Changed $405,990 Heartland MLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $405,990 Zillow
• 2026-03-28 Listed $402,990 Heartland MLS as Distributed by MLS Grid
• 2026-02-25 Listed $402,990 Zillow

Property tax history

-15.8%/yr

Latest (2025): $356 · +10.4% YoY. Source: county tax records.