837/839 SE 14th St · Topeka, KS 66607

$145,000

None bd · None ba · — sqft · MultiFamily · 96 Days on market

Built 1962 Fair condition 0.93 ac lot

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Why this score? — see what drove the C+ 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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Appreciation +4.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.7/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Each side is a 2 Bedroom with 1 bath on crawl space. Each side is 768 sq ft. Home is vinyl sided. 5 buildings all together. Flood insurance is required if financed.

Key facts

• Good parking spaces
• Large yard areas
• 0.93 acre lot

Tags

• LARGE YARD AREAS
• GOOD PARKING SPACES

Property features AI

Exterior

• Parking: 4 parking spaces
• Utilities: Public water; Public sewer
• Home design: Residential income property; Multi-family (2–4 units)
• Construction: Vinyl siding
• Exterior features: Paved parking surfaces; Lot approximately 0.93 acres (308 x 132); Zoned R-2 (Single Family)

Interior

• Kitchen: Refrigerator; Range
• Heating & cooling: Central heating; Electric cooling; Window air conditioning units
• Interior features: Refrigerator; Range

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $145k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-73 ($-876/yr) — negative. Per door: $-36/mo.
• To cash-flow at today's rent, offer at most $134k (7.3% below list).
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: Scott Dual Language Magnet (math 22% / reading 17%, grade F, #593 of 684 statewide, top 89%, 391 students, 87% FRL); Eisenhower Middle School (math 10% / reading 8%, grade F, #204 of 219 statewide, top 94%, 486 students, 90% FRL); Topeka High (math 11% / reading 20%, grade F, #248 of 327 statewide, top 76%, 1,514 students, 72% FRL).
• Market conditions: 22 active listings in the ZIP; 34 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

• In year one you build about $640 of equity ($1k loan paydown + $-362 appreciation (-0.2% local appreciation)).
• 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 96 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,950 (9.0% 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 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
6. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
7. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
8. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
9. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
10. 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?
11. 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?
12. 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.
13. 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.
14. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.45%
• DSCR: 1.46
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.25% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.75×
• Total profit: $-10,295
• Equity at exit: $40,301

10-year hold

• IRR: 0.8%
• Equity multiple: 1.08×
• Total profit: $3,351
• Equity at exit: $47,027

Cash invested: $40,600 (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 66607

• Home prices YoY: -0.1%
• Active inventory: 22
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $1,716 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $-73

Break-even live

Break-even rent $1,808

Max offer price $134,442

Occupancy floor 99%

Sensitivity live

Price	-10% $27	-5% $-23	+0% $-73	+5% $-123	+10% $-173
Rent	-10% $-209	-5% $-141	+0% $-73	+5% $-5	+10% $63
Rate	-1.0pp $0	-0.5pp $-36	base $-73	+0.5pp $-111	+1.0pp $-149

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,716
Total (2 units)			$1,716

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1724 SE Pennsylvania Ave Unit B Topeka, KS	2.0	1.0	960	$850	$0.89	22d	1	0.44mi
1110 SE Powell St Topeka, KS	2.0	1.5	765	$695	$0.91	22d	1	0.78mi
1110 SE Powell St Unit 12-2169 Topeka, KS	3.0	1.5	909	$980	$1.08	22d	1	0.81mi
600 SE Madison St Topeka, KS	2.0	1.0	—	$950	—	22d	1	0.85mi
2316 SE Ohio Ave Topeka, KS	3.0	1.0	—	$1,350	—	22d	1	0.94mi
1438 SW Van Buren St Apt 3 Topeka, KS	2.0	1.0	—	$775	—	22d	1	0.95mi
1438 SW Van Buren St Unit 1 Topeka, KS	1.0	1.0	—	$775	—	22d	1	0.95mi
1438 SW Van Buren St Apt 4 Topeka, KS	2.0	1.0	700	$825	$1.18	22d	1	0.95mi
1307 SW Harrison St Topeka, KS	1.0	1.0	585	$718	$1.23	22d	1	1.07mi
1307 SW Harrison St Unit 1301 B33 Topeka, KS	1.0	1.0	585	$742	$1.27	22d	1	1.08mi
1307 SW Harrison St Unit 1301 C31 Topeka, KS	1.0	1.0	585	$749	$1.28	22d	1	1.08mi
1252 SW Topeka Blvd Unit B Topeka, KS	1.0	1.0	—	$845	—	22d	1	1.15mi
1252 SW Topeka Blvd Topeka, KS	1.0	1.0	—	$895	—	22d	1	1.15mi
512 SW 14th St Topeka, KS	2.0	1.0	815	$895	$1.10	22d	1	1.16mi
1251 SW Topeka Blvd Topeka, KS	1.0	1.0	—	$750	—	22d	1	1.19mi
1300 SW Tyler St Topeka, KS	1.0	1.0	550	$590	$1.07	22d	1	1.21mi
2435 SE Colorado Ave Topeka, KS	3.0	1.0	1100	$1,200	$1.09	22d	1	1.22mi
1001 NE Atchison Ave Topeka, KS	2.0	1.0	689	$809	$1.17	22d	19	1.23mi
501 SE 25th St Topeka, KS	3.0	1.5	1200	$1,295	$1.08	22d	1	1.25mi
1003 SE 26th St Topeka, KS	2.0	1.0	656	$700	$1.07	22d	1	1.28mi
1624 SW Polk St Topeka, KS	3.0	2.0	1288	$1,350	$1.05	22d	1	1.28mi
837 SW Tyler St Unit 827-Unit 19 Topeka, KS	1.0	1.0	505	$662	$1.31	22d	1	1.33mi
837 SW Tyler St Topeka, KS	1.0	1.0	505	$686	$1.36	22d	1	1.33mi
603 SW Topeka Blvd Topeka, KS	1.0	1.0	710	$700	$0.99	22d	1	1.35mi
2351 SE Bellview Ave Topeka, KS	1.0–3.0	1.0–1.5	1132	$1,105	$0.98	22d	1	1.36mi
507 SW 6th Ave Unit 001 Topeka, KS	1.0	1.0	710	$700	$0.99	22d	1	1.36mi
1205 SW Polk St Topeka, KS	1.0	1.0	415	$686	$1.65	22d	1	1.37mi
1125 SW Polk St Topeka, KS	1.0	1.0	670	$725	$1.08	22d	2	1.37mi
1268 SW Western Ave Unit 1A Topeka, KS	2.0	1.0	1404	$1,000	$0.71	22d	1	1.39mi
721 SW Polk St Topeka, KS	2.0	1.0	691	$599	$0.87	22d	1	1.45mi
2704 SE Massachusetts Ave Topeka, KS	3.0	1.0	936	$950	$1.01	22d	1	1.46mi
101 N Kansas Ave Topeka, KS	2.0	1.0	1009	$1,325	$1.31	22d	3	1.47mi
1256 SW Fillmore St Topeka, KS	1.0	1.0	—	$495	—	22d	1	1.48mi
925 SW Huntoon St Topeka, KS	1.0	1.0	—	$695	—	22d	1	1.49mi

Listing history 20 events

1. 2026-06-21
   days on market $145,000 Active 96 DOM
2. 2026-06-19
   days on market $145,000 Active 94 DOM
3. 2026-06-18
   days on market $145,000 Active 93 DOM
4. 2026-06-17
   days on market $145,000 Active 92 DOM
5. 2026-06-16
   days on market $145,000 Active 91 DOM
6. 2026-06-15
   days on market $145,000 Active 90 DOM
7. 2026-06-14
   days on market $145,000 Active 88 DOM
8. 2026-06-13
   days on market $145,000 Active 87 DOM
9. 2026-06-10
   days on market $145,000 Active 85 DOM
10. 2026-06-09
    days on market $145,000 Active 84 DOM
11. 2026-06-08
    days on market $145,000 Active 83 DOM
12. 2026-06-07
    days on market $145,000 Active 82 DOM
13. 2026-06-02
    days on market $145,000 Active 77 DOM
14. 2026-06-01
    days on market $145,000 Active 76 DOM
15. 2026-05-31
    days on market $145,000 Active 75 DOM
16. 2026-05-30
    days on market $145,000 Active 74 DOM
17. 2026-03-17
    listed $145,000 Active
18. 2024-04-29
    soldstatus Closed 164-char remark

    Show marketing remark (164 chars)

    Each side is a 2 Bedroom with 1 bath on crawl space. Each side is 768 sq ft. Home is vinyl sided. 5 buildings all together. Flood insurance is required if financed.

19. 2024-01-30
    status Pending 164-char remark

    Show marketing remark (164 chars)

    Each side is a 2 Bedroom with 1 bath on crawl space. Each side is 768 sq ft. Home is vinyl sided. 5 buildings all together. Flood insurance is required if financed.

20. 2024-01-24
    listed $110,000 Active 164-char remark

    Show marketing remark (164 chars)

    Each side is a 2 Bedroom with 1 bath on crawl space. Each side is 768 sq ft. Home is vinyl sided. 5 buildings all together. Flood insurance is required if financed.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 24% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,592
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$5,844
• − Repairs & maintenance: −$1,647
• − Management: −$1,647
• − Depreciation: −$4,218
• Taxable loss: −$3,062
• Est. tax savings @ 24.0%: +$735
• After-tax cash flow: $-141/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 · 12 photos

Fair 45/100 Moderate rehab

This two-unit duplex requires moderate renovations to improve its condition and appeal to buyers/renters. Key updates include updating appliances and bathrooms, painting interior walls, and repairing exterior siding.

Repairs flagged

• Major kitchen appliances — outdated and worn
• Major bathroom fixtures — dated and worn
• Minor exterior siding — some discoloration

Value-add opportunities

• Both update kitchen appliances — modern appliances would attract more buyers/renters
• Both renovate bathrooms — updated bathrooms would attract more buyers/renters
• Both paint interior walls — fresh paint would improve curb appeal and interior aesthetics
• Both repair exterior siding — repairing siding would improve curb appeal and home value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · outdated and worn	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
exterior siding · some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both update kitchen appliances — modern appliances would attract more buyers/renters ↑
• Both renovate bathrooms — updated bathrooms would attract more buyers/renters ↑
• Both paint interior walls — fresh paint would improve curb appeal and interior aesthetics ↑
• Both repair exterior siding — repairing siding would improve curb appeal and home 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: 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
• City population: 118,130
• Population (ZIP): 9,873

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 0.67)
• Race & ethnicity: Hispanic / Latino 43% White 32% Black 20% Two or more races 16% Native American 1%
• Hispanic origin (detail): Mexican 38% Puerto Rican 2% Cuban 1%
• Common ancestry: Lithuanian 2% Iranian 1%
• Foreign-born: 12% · Canada, Dominican Republic
• Languages at home: 76% English-only · Spanish 23%

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: ▼ -0.25%
• Current HPI: 171.7381
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+31.8% since first listed

4 events — show timeline

• 2026-03-17 Listed $145,000 Sunflower MLS as distributed by MLS GRID
• 2024-04-29 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2024-01-30 Pending — Sunflower MLS as distributed by MLS GRID
• 2024-01-24 Listed $110,000 Sunflower MLS as distributed by MLS GRID