927 SW Huntoon St · Topeka, KS 66604

$200,000

2 bd · 3.0 ba · 2,184 sqft · Townhouse public records · 136 Days on market

Built 1910 1,306 sqft lot

---

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 +5.8/30.0
• Rent growth +3.6/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• 1% rule +0.5/10.0
• DSCR +0.2/10.0
• Appreciation +0.0/10.0

Listing remarks

927 SW Huntoon Street – The Woodward Row Houses- A rare opportunity to own a piece of local history with modern income potential. Known as one of The Woodward Row Houses, this charming triplex offers multiple revenue strategies—short-term rental, extended-stay apartments, or traditional long-term leases. The property features two thoughtfully configured units: Studio apartment – ideal for short stays or executive rentals. Two-bedroom, one-bath unit – strong demand for families or roommates. Each unit maintains its own identity, allowing an owner to diversify rental strategies under one roof. Whether you’re looking to maximize cash flow with short-term rentals o

Key facts

• Short term rental
• 1,306 sq ft lot
• Built 1910

Tags

• MULTIPLE REVENUE STRATEGIES
• SHORT TERM RENTAL
• EXTENDED STAY APARTMENTS
• TRADITIONAL LONG TERM LEASES
• THOUGHTFULLY CONFIGURED UNITS
• PROXIMITY TO LOCAL AMENITIES

Property features AI

Finance

• Other: Zoning: M2; Directions: West on Huntoon, property on right
• Financial info: Gross income reported as $20,000; Operating expenses include insurance, property management, and real estate tax; Current occupancy under 80%
• HOA & community: No association fees

Exterior

• Parking: On-street parking
• Security: No security details provided
• Utilities: Public water; Public sewer; Individual heat and air utilities
• Home design: Residential income property (triplex); Two stories
• Construction: Brick veneer exterior; Composition roof
• Exterior features: Not in a flood plain; Lot recorded as 0.03 acres (per public records)

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Three units: two 2-bedroom units and one 1-bedroom unit
• Flooring: No flooring details provided
• Bathrooms: Each unit has one bathroom
• Heating & cooling: Natural gas heating; Electric cooling (has cooling)
• Interior features: Has basement
• Laundry & utility: Individual water heaters for units

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath townhouse listed at $200k.

Deal economics

• At list price, monthly cash flow is $-397 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (35.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (44.7% below list).
• Recommended offer: $111k (44.7% below list) — sets the bar for 1% rule.

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: Randolph Elem (math 22% / reading 37%, grade F, #463 of 684 statewide, top 73%, 359 students, 76% FRL); Robinson Middle School (math 10% / reading 19%, grade F, #180 of 219 statewide, top 83%, 360 students, 84% FRL); Topeka High (math 11% / reading 20%, grade F, #248 of 327 statewide, top 76%, 1,514 students, 72% FRL).
• Market conditions: Rents rising fast (+4.4%/yr); 131 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $200k implies a 344% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,680 (44.7% 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 136 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.55% ✗
• Cap rate: 3.91%
• Cash-on-cash: -8.50%
• DSCR: 0.62
• GRM: 15.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.39% rent growth · sell at horizon

5-year hold

• IRR: -30.0%
• Equity multiple: -0.00×
• Total profit: $-56,166
• Equity at exit: $29,821

10-year hold

• IRR: -26.7%
• Equity multiple: -0.34×
• Total profit: $-75,038
• Equity at exit: $17,292

Cash invested: $56,000 (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 66604

• Rents YoY: 4.4%
• Active inventory: 131
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $1,107 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$139 /mo · $1,669/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $-397

Break-even live

Break-even rent $1,609

Max offer price $129,897

Occupancy floor —

Sensitivity live

Price	-10% $-284	-5% $-340	+0% $-397	+5% $-453	+10% $-510
Rent	-10% $-484	-5% $-441	+0% $-397	+5% $-353	+10% $-309
Rate	-1.0pp $-296	-0.5pp $-346	base $-397	+0.5pp $-449	+1.0pp $-501

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1268 SW Western Ave Unit 1A Topeka, KS	2.0	1.0	1404	$1,000	$0.71	23d	1	0.11mi
1647 SW Buchanan St Topeka, KS	3.0	2.0	1550	$1,395	$0.90	23d	1	0.53mi
1275 SW Mulvane St Topeka, KS	3.0	1.5	1791	$1,350	$0.75	23d	1	0.57mi
822 SW 8th Ave Topeka, KS	3.0	1.5	1600	$1,025	$0.64	23d	1	0.58mi
1936 SW Clay St Topeka, KS	3.0	1.0	1572	$1,000	$0.64	23d	1	0.80mi
416 SW Clay St Topeka, KS	3.0	1.0	1639	$1,025	$0.63	23d	1	0.94mi
1316 SW 27th St Topeka, KS	2.0	2.0	1456	$1,150	$0.79	23d	1	1.47mi

Listing history 19 events

1. 2026-06-21
   days on market $200,000 Active 136 DOM
2. 2026-06-19
   days on market $200,000 Active 134 DOM
3. 2026-06-18
   days on market $200,000 Active 133 DOM
4. 2026-06-17
   days on market $200,000 Active 132 DOM
5. 2026-06-16
   days on market $200,000 Active 131 DOM
6. 2026-06-15
   days on market $200,000 Active 130 DOM
7. 2026-06-14
   days on market $200,000 Active 128 DOM
8. 2026-06-13
   days on market $200,000 Active 127 DOM
9. 2026-06-10
   days on market $200,000 Active 125 DOM
10. 2026-06-09
    days on market $200,000 Active 124 DOM
11. 2026-06-08
    days on market $200,000 Active 123 DOM
12. 2026-06-07
    days on market $200,000 Active 122 DOM
13. 2026-06-02
    days on market $200,000 Active 117 DOM
14. 2026-06-01
    days on market $200,000 Active 116 DOM
15. 2026-05-31
    days on market $200,000 Active 115 DOM
16. 2026-05-30
    days on market $200,000 Active 114 DOM
17. 2026-02-05
    listed $200,000 Active
18. 2013-06-10
    soldstatus
19. 1994-12-01
    soldstatus $45,000

ⓘ 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: $1,669 · $139/mo
• Projected year-2 tax: $2,820 · $235/mo
• Expected delta: +$1,151/yr (+$96/mo · 69.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥107°F today · 16 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: $13,282
• − Mortgage interest: −$11,203
• − Property taxes: −$1,669
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,063
• − Management: −$1,063
• − Depreciation: −$5,818
• Taxable loss: −$8,533
• Est. tax savings @ 24.0%: +$2,048
• After-tax cash flow: $-2,714/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): 23,006
• Household income: $60,874
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 1192.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 15% Two or more races 11% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1% Other Indo-European 1%

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: ▼ -151.78%
• Current HPI: 227.637
• Rent YoY: ▲ 4.39%
• Metro: Topeka, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+344.4% since first listed

3 events — show timeline

• 2026-02-05 Listed $200,000 Heartland MLS as Distributed by MLS Grid
• 2013-06-10 Sold (Public Records) — Public Records
• 1994-12-01 Sold (Public Records) $45,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,669 · +25.1% YoY. Source: county tax records.