2111 SW Plass Ave · Topeka, KS 66611

$90,000

3 bd · 2.0 ba · 1,959 sqft · SingleFamily public records · 1 Days on market

Built 1975 0.28 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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• 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

This house has a fresh, blank slate, and is ready for you to remodel to your taste. Priced at less than the Shawnee County value, this one is just waiting for someone to come in, and give it a fresh remodel and the opportunities are endless. Investors have an opportunity to add a large home to their portfolio, or even turn this into a flip property, listed at just below $46 per square foot. Homeowners have the chance to make it their own from day 1 with all of their finishing touches. Great location just South of Washburn University 1 block, and right next to 21st Street for ease of getting around town. This home has 4 bedrooms, a main floor master suite, and 3 full bathrooms. A large basem

Key facts

• Loft
• Circle drive
• Large basement

Tags

• LARGE BASEMENT
• CIRCLE DRIVE
• DETACHED OVERSIZED GARAGE
• EXTRA ROOM
• LOFT

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories
• Construction: Wood siding
• Exterior features: Lot approximately 80 x 150 (0.28 acres); Subdivision: College View

Interior

• Bathrooms: 3 full bathrooms
• Interior features: Has fireplace (1 total); Has basement
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 10.1% 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: Jardine Elementary (math 18% / reading 24%, grade F, #583 of 684 statewide, top 85%, 743 students, 79% FRL); Jardine Middle School (math 13% / reading 23%, grade F, #164 of 219 statewide, top 76%, 542 students, 79% FRL); Topeka High (math 11% / reading 20%, grade F, #248 of 327 statewide, top 76%, 1,514 students, 72% FRL).
• Market conditions: 49 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $622 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 $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price.
• 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 $90,000

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.47% ✓
• Cap rate: 10.14%
• Cash-on-cash: 13.75%
• DSCR: 1.61
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $229,203
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1503 Macvicar Ave	0.71mi	3/2.0	1,993 (+2%)	5mo	$233,950	$117	60

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: 4.0%
• Equity multiple: 1.15×
• Total profit: $3,902
• Equity at exit: $13,419

10-year hold

• IRR: 13.6%
• Equity multiple: 2.09×
• Total profit: $27,481
• Equity at exit: $7,782

Cash invested: $25,200 (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 66611

• Active inventory: 49
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,320 high
• Mortgage (P&I): −$472
• Tax from tax record: −$245 /mo · $2,937/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $289

Break-even live

Break-even rent $955

Max offer price $90,000

Occupancy floor 73%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1316 SW 27th St Topeka, KS	2.0	2.0	1456	$1,150	$0.79	21d	1	0.71mi
1936 SW Clay St Topeka, KS	3.0	1.0	1572	$1,000	$0.64	21d	1	0.78mi
1647 SW Buchanan St Topeka, KS	3.0	2.0	1550	$1,395	$0.90	21d	1	0.85mi
1275 SW Mulvane St Topeka, KS	3.0	1.5	1791	$1,350	$0.75	21d	1	1.00mi
1624 SW Polk St Topeka, KS	3.0	2.0	1288	$1,350	$1.05	21d	1	1.19mi
1268 SW Western Ave Unit 1A Topeka, KS	2.0	1.0	1404	$1,000	$0.71	21d	1	1.36mi
2211 SW Burnett Rd Topeka, KS	3.0	1.0	1239	$1,595	$1.29	21d	1	1.44mi

Listing history 3 events

1. 2026-06-14
   status $90,000 Pending 1 DOM
2. 2026-06-13
   remarks 699-char remark
3. 2026-06-13
   listed $90,000 Active 1 DOM

ⓘ 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: $2,937 · $245/mo
• Projected year-2 tax: $2,937 · $245/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 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: $15,840
• − Mortgage interest: −$5,041
• − Property taxes: −$2,937
• − Insurance: −$450
• − Repairs & maintenance: −$1,267
• − Management: −$1,267
• − Depreciation: −$2,618
• Taxable income: $2,260
• Est. tax owed @ 24.0%: −$542
• After-tax cash flow: $2,921/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
• County: Shawnee County · 118,130 people
• City population: 118,130
• Metro: Topeka, KS
• Population (ZIP): 9,828
• Household income: $55,837
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 501.0

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 0.56)
• Race & ethnicity: White 64% Hispanic / Latino 13% Black 12% Two or more races 12%
• Hispanic origin (detail): Mexican 8% Puerto Rican 4%
• Common ancestry: Italian 2% Serbian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -142.03%
• Current HPI: 213.2041
• Rent YoY: —
• Metro: Topeka, KS
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-12 Listed $90,000 Sunflower MLS as distributed by MLS GRID

Property tax history

+3.7%/yr

Latest (2025): $2,937 · +10.3% YoY. Source: county tax records.