4709 W 75th St

Prairie Village, KS 66208

$385,000D+

3 bd · 2.0 ba · 1,600 sqft · Built 1952 · SingleFamily · Active · 167 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,963/mo
• Mortgage (P&I): −$2,019
• Tax + insurance: −$520
• HOA: −$2
• Vac / Maint / Mgmt: −$622
• Net cashflow: $-200/mo
• Annual: $-2,406/yr
• Cap rate: 5.67%
• Cash-on-cash: -2.23%
• DSCR: 0.90
• 1% rule: 0.77%
• Cash to close: $107,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $385k.
• At list price, monthly cash flow is $-200 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $350k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $296k (23.0% below list).
• It's been on market 167 days — a 12% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $296k (23.0% below list) — sets the bar for 1% rule.
• 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.
• Location reads 82/100 on livability (#7 in KS, #1,145 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities C-, cost of living D+, commute F.
• Shawnee Mission Pub Schools (suburban): math 38% / reading 46% proficiency, ranked #22 of 169 in KS (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Briarwood Elem (math 66% / reading 72%, grade A-, #28 of 684 statewide, top 4%, 660 students, 19% FRL); Indian Hills Middle (math 44% / reading 51%, grade C-, #8 of 219 statewide, top 3%, 850 students, 15% FRL); Shawnee Mission East High (math 40% / reading 46%, grade F, #10 of 327 statewide, top 3%, 1,697 students, 12% FRL).
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+8.5%/yr); 173 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,969 units permitted in Johnson County in 2024 (1,066 in 5+ unit buildings).
• Johnson County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 9 sale attempts since 11y ago 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.
• Cap rate 5.7% vs local median 2.6% in Prairie Village — 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.

Questions for listing agent

• 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?
• It's been on market 167 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?