903 2nd St · Lawrence, KS 66073

$329,950

4 bd · 2.0 ba · 1,546 sqft · SingleFamily · 72 Days on market

Built 2026 Good condition 7,841 sqft lot

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Why this score? — see what drove the D+ 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 +16.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 1% rule +4.6/10.0
• Livability +4.4/5.0
• Condition / age +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BRAND NEW CONSTRUCTION AND SUPER AFFORDABLE, THIS 4 BEDROOM TRUE RANCH DELIVERS EASY ONE-LEVEL LIVING WITH NO STEPS! The Dan Plan offers a large living room, a country kitchen with granite counters, and a spacious master suite with a walk-in closet and private bath featuring double vanities, granite counters, and a shower. Three additional bedrooms and a full bath are located on the opposite side of the home, giving everyone a little extra privacy. A 2 car garage and a patio off the kitchen add even more everyday function and outdoor space. With its smart layout and great location, this home is a solid choice for buyers looking for comfort, convenience, and value in a brand new build.

Key facts

• Country kitchen
• Walk-in closet
• Private bath

Tags

• LARGE LIVING ROOM
• COUNTRY KITCHEN
• GRANITE COUNTERS
• SPACIOUS MASTER SUITE
• WALK-IN CLOSET
• PRIVATE BATH

Property features AI

Finance

• Other: Inside city limits; Directions: From US 24 Hwy in Perry go south on Lecompton Rd, right on 2nd St, follow to property.
• HOA & community: No association fees

Exterior

• Parking: Attached garage with garage door opener, garage faces front; 2-car garage
• Utilities: Public water; Public sewer; Cable available; High-speed internet available
• Home design: Single-family residence (Residential); Ranch floor plan; Under construction; Estimated completion: 150+ days; Builder: Invictus Builders LL — "The Dan Plan"; Living area approximately 1,546 (above grade); Builder 1-year warranty; Stone and frame construction; Composition roof
• Construction: Stone & frame exterior; Composition roof; Slab foundation; Built within past 2 years or newer (age description indicates 2 years/less)
• Exterior features: Patio; City lot inside city limits; Paved road with public maintenance; Not in a flood plain

Interior

• Kitchen: Granite countertops; Country-style kitchen; Dishwasher; Microwave; Electric range
• Bedrooms: 4 bedrooms (main-floor primary bedroom included); Three secondary bedrooms with carpet
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 2 full bathrooms; One bath with shower only; One bath with shower over tub
• Heating & cooling: Forced-air heating (natural gas); Electric cooling
• Interior features: Ceiling fans; Pantry; Walk-in closets; Thermal windows
• Laundry & utility: Main-level laundry room

🏗️ New construction. The $329,950 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $289,102.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $330k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• To cash-flow at today's rent, offer at most $317k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $277k (16.0% below list).
• Recommended offer: $277k (16.0% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 2.7% in Lawrence — 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 88/100 on livability (#1 in KS, #237 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime D-.
• Lawrence (urban): math 31% / reading 44% proficiency, ranked #46 of 169 in KS (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 25 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 246 units permitted in Douglas County in 2024 (38 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Douglas County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($310k) 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 $277,271 (16.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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. 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: 0.96% ✗
• Cap rate: 7.09%
• Cash-on-cash: 2.85%
• DSCR: 1.13
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $289,102
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
619 W 4th St	0.28mi	3/2.0 (-1)	1,456 (-6%)	3mo	$272,530	$187	70
505 Mississippi St	0.41mi	4/2.0	1,647 (+6%)	5mo	$310,000	$188	66
238 Michigan St	0.31mi	3/2.0 (-1)	1,684 (+9%)	2mo	$249,900	$148	64
1515 Pinewood Dr	0.50mi	3/1.5 (-1)	1,540 (-0%)	8mo	$89,900	$58	63
214 Alabama St	0.05mi	3/2.0 (-1)	1,685 (+9%)	20mo	$284,900	$169	61
1618 Northwood Dr	0.51mi	4/2.0	1,596 (+3%)	14mo	$169,900	$106	59
1503 W 2nd St	0.40mi	3/1.0 (-1)	1,454 (-6%)	13mo	$239,000	$164	52
1623 W 3rd St	0.51mi	3/1.5 (-1)	1,440 (-7%)	10mo	$295,000	$205	50
633 Alabama St	0.62mi	3/1.5 (-1)	1,384 (-10%)	2mo	$340,000	$246	45
313 Elm St	0.70mi	3/1.5 (-1)	1,459 (-6%)	15mo	$359,000	$246	38
640 Indiana St	0.63mi	3/2.0 (-1)	1,715 (+11%)	13mo	$399,000	$233	37
704 Arkansas St	0.71mi	3/1.5 (-1)	1,729 (+12%)	22mo	$225,000	$130	22

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: -11.8%
• Equity multiple: 0.57×
• Total profit: $-34,543
• Equity at exit: $43,106

10-year hold

• IRR: -2.6%
• Equity multiple: 0.83×
• Total profit: $-14,121
• Equity at exit: $24,996

Cash invested: $80,949 (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 66073

• Home prices YoY: -8.6%
• Active inventory: 25
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,773 medium
• Mortgage (P&I): −$1,516
• Tax est. 1.5%: −$361 /mo · $4,337/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$582
• Net cashflow: $193

Break-even live

Break-even rent $2,529

Max offer price $289,102

Occupancy floor 88%

Sensitivity live

Price	-10% $392	-5% $292	+0% $193	+5% $93	+10% $-7
Rent	-10% $-27	-5% $83	+0% $193	+5% $302	+10% $412
Rate	-1.0pp $338	-0.5pp $266	base $193	+0.5pp $118	+1.0pp $41

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: $72,276
• Closing costs: $8,673
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 Missouri St Lawrence, KS	4.0	4.0	1580	$3,600	$2.28	8d	1	0.97mi
2305 Brett Dr Lawrence, KS	3.0	2.0	1340	$1,650	$1.23	15d	1	1.16mi

Listing history 19 events

1. 2026-06-19
   days on market $329,950 Active 72 DOM
2. 2026-06-18
   days on market $329,950 Active 71 DOM
3. 2026-06-17
   days on market $329,950 Active 70 DOM
4. 2026-06-16
   days on market $329,950 Active 69 DOM
5. 2026-06-15
   days on market $329,950 Active 68 DOM
6. 2026-06-14
   days on market $329,950 Active 66 DOM
7. 2026-06-13
   days on market $329,950 Active 65 DOM
8. 2026-06-10
   days on market $329,950 Active 63 DOM
9. 2026-06-09
   days on market $329,950 Active 62 DOM
10. 2026-06-08
    days on market $329,950 Active 61 DOM
11. 2026-06-07
    days on market $329,950 Active 60 DOM
12. 2026-06-05
    days on market $329,950 Active 57 DOM
13. 2026-06-03
    days on market $329,950 Active 56 DOM
14. 2026-06-02
    days on market $329,950 Active 55 DOM
15. 2026-06-01
    days on market $329,950 Active 54 DOM
16. 2026-05-31
    days on market $329,950 Active 53 DOM
17. 2026-05-30
    days on market $329,950 Active 52 DOM
18. 2026-04-08
    listed $329,950 Active 693-char remark

    Show marketing remark (693 chars)

    BRAND NEW CONSTRUCTION AND SUPER AFFORDABLE, THIS 4 BEDROOM TRUE RANCH DELIVERS EASY ONE-LEVEL LIVING WITH NO STEPS! The Dan Plan offers a large living room, a country kitchen with granite counters, and a spacious master suite with a walk-in closet and private bath featuring double vanities, granite counters, and a shower. Three additional bedrooms and a full bath are located on the opposite side of the home, giving everyone a little extra privacy. A 2 car garage and a patio off the kitchen add even more everyday function and outdoor space. With its smart layout and great location, this home is a solid choice for buyers looking for comfort, convenience, and value in a brand new build.

19. 2026-04-08
    listed $329,950 Active

    Show marketing remark (693 chars)

    BRAND NEW CONSTRUCTION AND SUPER AFFORDABLE, THIS 4 BEDROOM TRUE RANCH DELIVERS EASY ONE-LEVEL LIVING WITH NO STEPS! The Dan Plan offers a large living room, a country kitchen with granite counters, and a spacious master suite with a walk-in closet and private bath featuring double vanities, granite counters, and a shower. Three additional bedrooms and a full bath are located on the opposite side of the home, giving everyone a little extra privacy. A 2 car garage and a patio off the kitchen add even more everyday function and outdoor space. With its smart layout and great location, this home is a solid choice for buyers looking for comfort, convenience, and value in a brand new build.

ⓘ 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: $33,273
• − Mortgage interest: −$16,194
• − Property taxes: −$4,337
• − Insurance: −$1,446
• − Repairs & maintenance: −$2,662
• − Management: −$2,662
• − Depreciation: −$8,410
• Taxable loss: −$2,438
• Est. tax savings @ 24.0%: +$585
• After-tax cash flow: $2,895/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.

Condition & rehab AI · 4 photos

Good 80/100 None rehab

This single-family home is in good condition with no visible repairs needed. It offers a spacious layout and is ready for move-in. Consider updating the interior and exterior to maximize its value.

Value-add opportunities

• Both Landscaping — A well-maintained landscape can enhance curb appeal and property value.
• Both Interior paint — Fresh paint can make the interior look more inviting and increase the property's value.
• Both Kitchen appliances — Upgrading to modern appliances can increase the property's appeal and value.
• Both Bathroom fixtures — Updating the bathroom fixtures can improve the property's appeal and value.
• Both Flooring — Upgrading the flooring can improve the property's appearance and increase its value.
• Both Exterior paint — Fresh exterior paint can enhance curb appeal and property value.
• Both Landscaping — A well-maintained landscape can enhance curb appeal and property value.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — A well-maintained landscape can enhance curb appeal and property value. ↑
• Both Interior paint — Fresh paint can make the interior look more inviting and increase the property's value. ↑
• Both Kitchen appliances — Upgrading to modern appliances can increase the property's appeal and value. ↑
• Both Bathroom fixtures — Updating the bathroom fixtures can improve the property's appeal and value. ↑
• Both Flooring — Upgrading the flooring can improve the property's appearance and increase its value. ↑
• Both Exterior paint — Fresh exterior paint can enhance curb appeal and property value. ↑
• Both Landscaping — A well-maintained landscape can enhance curb appeal and property value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lawrence
• NCES district ID: 2008400
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 44% ▬ 0.00%
• Median HH income: $46,259
• Composite: 32.02/100
• National rank: #5826
• State rank: #46 of 169 in KS

Livability — Lawrence

• Score: 88/100
• State rank: #1
• US rank: #237

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lawrence, KS
• City population: 100,966
• Population (ZIP): 2,381

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 136,863 people
• By 2030: 147,255 · +7.6%
• By 2040: 167,760 · +22.6%
• By 2050: 190,593 · +39.3%
• By 2075: 253,850 · +85.5%
• By 2100: 314,741 · +130.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 5% Two or more races 5% Black 2%
• Common ancestry: Italian 3% Iranian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Douglas

• 2024 margin: Solid D (+38.0) · D 68.2% · R 30.2% · Other 1.6%
• 2008→2024 swing: +7.2pp toward D · 2008: 30.8pp · 2024: 38.0pp
• All cycles: 2024: D+38.0 2020: D+39.5 2016: D+32.7 2012: D+23.7 2008: D+30.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.51%
• Current HPI: 219.277
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

2 events — show timeline

• 2026-04-08 Listed $329,950 Lawrence MLS as distributed by MLS GRID
• 2026-04-08 Listed $329,950 Heartland MLS as Distributed by MLS Grid