1911 SE Iowa Ave · Topeka, KS 66607

$80,000

2 bd · 1.0 ba · 1,813 sqft · SingleFamily public records · 119 Days on market

Built 1950 0.57 ac 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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Appreciation +4.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Good opportunity to buy a home in an area that is improving. Sewer line replaced February 2021,

Key facts

• Hardwood floors
• New sewer line
• 0.57 acre lot

Tags

• AMPLE OFF-STREET PARKING
• HARDWOOD FLOORS
• WALK-OUT ACCESS TO BACKYARD
• NEW SEWER LINE
• UPGRADED ELECTRIC PANEL
• REPLACED WATER HEATER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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: 22 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 219 units permitted in Shawnee County in 2024 (25 in 5+ unit buildings).

Forward outlook

• In year one you build about $353 of equity ($553 loan paydown + $-200 appreciation (-0.2% local appreciation)).
• Shawnee County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.2% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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 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: 1.38% ✓
• Cap rate: 10.24%
• Cash-on-cash: 14.08%
• DSCR: 1.63
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.25% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.8%
• Equity multiple: 1.60×
• Total profit: $13,518
• Equity at exit: $22,235

10-year hold

• IRR: 17.8%
• Equity multiple: 2.92×
• Total profit: $42,990
• Equity at exit: $25,946

Cash invested: $22,400 (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 66607

• Home prices YoY: -0.1%
• Active inventory: 22
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,105 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$157 /mo · $1,887/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $263

Break-even live

Break-even rent $772

Max offer price $80,000

Occupancy floor 71%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2351 SE Bellview Ave Topeka, KS	1.0–3.0	1.0–1.5	1132	$1,105	$0.98	21d	1	0.85mi

Listing history 10 events

1. 2026-04-17
   status Pending
2. 2026-03-23
   status Active
3. 2026-02-28
   historical
4. 2025-12-12
   price $80,000
5. 2025-11-26
   listed $85,000 Active
6. 2023-10-26
   price $94,900
7. 2023-10-03
   listed $98,900 Active
8. 2021-05-07
   soldstatus 95-char remark

   Show marketing remark (95 chars)

   Good opportunity to buy a home in an area that is improving. Sewer line replaced February 2021,

9. 2021-05-07
   soldstatus

   Show marketing remark (95 chars)

   Good opportunity to buy a home in an area that is improving. Sewer line replaced February 2021,

10. 2021-03-12
    listed $64,900 95-char remark

    Show marketing remark (95 chars)

    Good opportunity to buy a home in an area that is improving. Sewer line replaced February 2021,

ⓘ 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: $1,887 · $157/mo
• Projected year-2 tax: $1,887 · $157/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 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: $13,260
• − Mortgage interest: −$4,481
• − Property taxes: −$1,887
• − Insurance: −$400
• − Repairs & maintenance: −$1,061
• − Management: −$1,061
• − Depreciation: −$2,327
• Taxable income: $2,043
• Est. tax owed @ 24.0%: −$490
• After-tax cash flow: $2,664/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): 9,873

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 0.67)
• Race & ethnicity: Hispanic / Latino 43% White 32% Black 20% Two or more races 16% Native American 1%
• Hispanic origin (detail): Mexican 38% Puerto Rican 2% Cuban 1%
• Common ancestry: Lithuanian 2% Iranian 1%
• Foreign-born: 12% · Canada, Dominican Republic
• Languages at home: 76% English-only · Spanish 23%

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: ▼ -0.25%
• Current HPI: 171.7381
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+23.3% since first listed

10 events — show timeline

• 2026-04-17 Pending — Sunflower MLS as distributed by MLS GRID
• 2026-03-23 Relisted — Sunflower MLS as distributed by MLS GRID
• 2026-02-28 Delisted — Sunflower MLS as distributed by MLS GRID
• 2025-12-12 Price Changed $80,000 Sunflower MLS as distributed by MLS GRID
• 2025-11-26 Listed $85,000 Sunflower MLS as distributed by MLS GRID
• 2023-10-26 Price Changed $94,900 Sunflower MLS as distributed by MLS GRID
• 2023-10-03 Listed $98,900 Sunflower MLS as distributed by MLS GRID
• 2021-05-07 Sold (Public Records) — Public Records
• 2021-05-07 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2021-03-12 Listed $64,900 Sunflower MLS as distributed by MLS GRID

Property tax history

+7.1%/yr

Latest (2025): $1,887 · +25.8% YoY. Source: county tax records.