1019 SW Wayne Ave · Topeka, KS 66604

$75,000

2 bd · 1.0 ba · 892 sqft · SingleFamily public records · 6 Days on market

Built 1924 6,534 sqft lot Est $128k · 42% under

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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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +8.0/10.0
• Rent growth +3.6/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special. Great location for this 2 bedroom, 1 bath with basement. Home has fireplace, built in hutch and lots of potential. Has not been occupied for 10+ years. Selling as is.

Key facts

• Built in hutch
• Fireplace
• 6,534 sq ft lot

Tags

• FIREPLACE
• BUILT IN HUTCH

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame construction
• Exterior features: Composition roof

Interior

• Flooring: Vinyl flooring; Carpet flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Living room fireplace
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($977 rent vs $75k).
• Cap rate 9.6% 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: Landon Middle School (math 15% / reading 27%, grade F, #142 of 219 statewide, top 65%, 457 students, 68% FRL); Topeka High (math 11% / reading 20%, grade F, #248 of 327 statewide, top 76%, 1,514 students, 72% FRL) — zoned schools at 70% FRL track the district average.
• Market conditions: Rents rising fast (+4.4%/yr); 131 active listings in the ZIP; 25 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 $519 of loan paydown is wiped out by about $2k 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 + 4.4% rent growth), your $21k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.
• Current owner paid $32k; list at $75k implies a 131% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.30% ✓
• Cap rate: 9.65%
• Cash-on-cash: 11.98%
• DSCR: 1.53
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $128,448
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
714 SW Macvicar Ave	0.35mi	2/1.0	846 (-5%)	14mo	$121,900	$144	63
821 SW Watson Ave	0.59mi	2/1.0	918 (+3%)	22mo	$111,500	$121	49

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 · 4.39% rent growth · sell at horizon

5-year hold

• IRR: 3.2%
• Equity multiple: 1.13×
• Total profit: $2,626
• Equity at exit: $11,183

10-year hold

• IRR: 14.1%
• Equity multiple: 2.21×
• Total profit: $25,495
• Equity at exit: $6,485

Cash invested: $21,000 (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: 6.4×

Monthly cashflow live

• Estimated rent: $977 high
• Mortgage (P&I): −$393
• Tax from tax record: −$138 /mo · $1,650/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $210

Break-even live

Break-even rent $711

Max offer price $75,000

Occupancy floor 74%

Sensitivity live

Price	-10% $252	-5% $231	+0% $210	+5% $188	+10% $167
Rent	-10% $132	-5% $171	+0% $210	+5% $248	+10% $287
Rate	-1.0pp $247	-0.5pp $229	base $210	+0.5pp $190	+1.0pp $170

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1027 SW Woodward Ave Topeka, KS	3.0	1.0	864	$1,195	$1.38	22d	1	0.16mi
728 SW Lindenwood Ave Topeka, KS	2.0	1.0	968	$1,195	$1.23	22d	1	0.53mi
1221 SW Oakley Ave Unit 3 Topeka, KS	1.0	1.0	650	$900	$1.38	22d	1	0.58mi
901 SW Buchanan St Topeka, KS	1.0	1.0	680	$1,300	$1.91	22d	1	0.85mi
1515 SW 15th St Topeka, KS	1.0	1.0	775	$700	$0.90	22d	1	0.87mi
1623 SW Campbell Ave Topeka, KS	2.0	1.0	828	$1,100	$1.33	22d	1	0.96mi
1708 SW Webster Ave Topeka, KS	1.0	1.0	525	$595	$1.13	22d	1	0.97mi
1510 SW Lane St Topeka, KS	1.0	1.0	750	$675	$0.90	22d	1	0.98mi
1258 SW Clay St Unit 4 Topeka, KS	1.0	1.0	650	$695	$1.07	22d	1	1.00mi
1436 SW Byron St Topeka, KS	2.0	1.0	900	$720	$0.80	22d	1	1.01mi
1516 SW 17th St Topeka, KS	2.0	1.0	699	$735	$1.05	22d	1	1.01mi
1125 SW Polk St Topeka, KS	1.0	1.0	670	$725	$1.08	22d	2	1.17mi
1116 SW 18th St Topeka, KS	3.0	1.0	1105	$1,175	$1.06	22d	1	1.26mi
1900 SW Washburn Ave Topeka, KS	2.0	1.0	883	$890	$1.01	22d	1	1.28mi
721 SW Polk St Topeka, KS	2.0	1.0	691	$599	$0.87	22d	1	1.28mi
1926 SW Washburn Ave Topeka, KS	2.0	1.0	600	$650	$1.08	22d	1	1.30mi
1300 SW Tyler St Topeka, KS	1.0	1.0	550	$590	$1.07	22d	1	1.34mi
2045 SW Macvicar Ave Topeka, KS	2.0	2.0	860	$875	$1.02	22d	1	1.38mi
512 SW 14th St Topeka, KS	2.0	1.0	815	$895	$1.10	22d	1	1.40mi
2409 SW 21st St Topeka, KS	3.0	1.0	890	$850	$0.96	22d	1	1.44mi
1307 SW Harrison St Unit 1301 C31 Topeka, KS	1.0	1.0	585	$749	$1.28	22d	1	1.47mi
1307 SW Harrison St Unit 1301 B33 Topeka, KS	1.0	1.0	585	$742	$1.27	22d	1	1.47mi
507 SW 6th Ave Unit 001 Topeka, KS	1.0	1.0	710	$700	$0.99	22d	1	1.48mi
1307 SW Harrison St Topeka, KS	1.0	1.0	585	$718	$1.23	22d	1	1.48mi
603 SW Topeka Blvd Topeka, KS	1.0	1.0	710	$700	$0.99	22d	1	1.50mi

Listing history 5 events

1. 2026-05-20
   status Pending
2. 2026-05-13
   listed $75,000 Active
3. 2015-06-03
   listed $45,000
4. 2015-05-11
   listed $45,000
5. 1988-08-01
   soldstatus $32,500

ⓘ 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: $1,650 · $138/mo
• Projected year-2 tax: $1,650 · $138/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 4/10 Moderate 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,722
• − Mortgage interest: −$4,201
• − Property taxes: −$1,650
• − Insurance: −$375
• − Repairs & maintenance: −$938
• − Management: −$938
• − Depreciation: −$2,182
• Taxable income: $1,439
• Est. tax owed @ 24.0%: −$345
• After-tax cash flow: $2,170/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

+130.8% since first listed

5 events — show timeline

• 2026-05-20 Pending — Sunflower MLS as distributed by MLS GRID
• 2026-05-13 Listed $75,000 Sunflower MLS as distributed by MLS GRID
• 2015-06-03 Listed $45,000 Sunflower MLS as distributed by MLS GRID
• 2015-05-11 Listed $45,000 Sunflower MLS as distributed by MLS GRID
• 1988-08-01 Sold (Public Records) $32,500 Public Records

Property tax history

+3.2%/yr

Latest (2025): $1,650 · +5.1% YoY. Source: county tax records.