19427 Lincoln St · Spring Hill, KS 66083

$319,990

3 bd · 2.0 ba · 1,234 sqft · Land · 48 Days on market

8,159 sqft lot $21/mo HOA · 1% of rent ↓ 3% since listing

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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).

• Cash flow +8.9/30.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Wiswell Farms! With easy access to Route 7, diverse shopping and restaurants are just a short drive away in nearby Olathe. Plus, this community is located within the Spring Hill School District for exceptional education opportunities. This new single-story home backs to open space just beyond a tree line and hosts a spacious open-concept layout shared between the kitchen, living and dining areas for simple everyday transitions and multitasking. Two bedrooms share a private hallway, while the luxe owner’s suite boasts a private location at the back of the home, complete with a full bathroom and walk-in closet. Contact us today to learn more!

Key facts

• Backs to open space
• Private hallway
• Luxe owner’s suite

Tags

• EASY ACCESS TO ROUTE 7
• SPRING HILL SCHOOL DISTRICT
• BACKS TO OPEN SPACE
• SPACIOUS OPEN-CONCEPT LAYOUT
• PRIVATE HALLWAY
• LUXE OWNER’S SUITE

Property features AI

Finance

• HOA & community: Part of Wiswell Farms HOA with an annual fee of $250

Exterior

• Parking: Attached garage with garage door opener and garage facing front; 2-car garage
• Utilities: Public water; Public sewer; High-speed internet available
• Home design: Single-family residence; Ranch floor plan; Under construction / near completion; Estimated completion within 0 to 45 days; Built by Lennar (Armstrong model); Living area approximately 1,234
• Construction: Board & batten siding with stone trim; Composition roof; Slab foundation; Radon mitigation system; Approximately 2 years old or less; 10-year builder warranty
• Exterior features: Located within city limits; Paved road with public maintenance

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range
• Bedrooms: 3 bedrooms on the main level (one 14x14, two 10x10)
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Electric cooling
• Interior features: Painted cabinets; Pantry; Walk-in closet(s); Entry; Great room; Main floor bedroom; Main floor primary bedroom; Kit/Dining combo
• Laundry & utility: Main level laundry room

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $320k.

Deal economics

• At list price, monthly cash flow is $-257 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $275k (14.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (30.6% below list).
• Recommended offer: $222k (30.6% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.5% in Spring Hill — 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 73/100 on livability (#93 in KS) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Spring Hill (rural): math 40% / reading 47% proficiency, ranked #11 of 169 in KS (top 6%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Dayton Creek Elementary School (240 students, 15% FRL); Spring Hill Middle School (math 24% / reading 33%, grade F, #89 of 219 statewide, top 40%, 471 students, 24% FRL); Spring Hill High School (math 27% / reading 47%, grade F, #26 of 327 statewide, top 8%, 983 students, 18% FRL) — zoned schools at 19% FRL track the district average.
• Market conditions: 415 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 2,969 units permitted in Johnson County in 2024 (1,066 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Johnson County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $222,007 (30.6% 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 48 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.69% ✗
• Cap rate: 5.33%
• Cash-on-cash: -3.44%
• DSCR: 0.85
• GRM: 12.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -22.1%
• Equity multiple: 0.24×
• Total profit: $-68,296
• Equity at exit: $47,712

10-year hold

• IRR: -16.2%
• Equity multiple: 0.10×
• Total profit: $-80,894
• Equity at exit: $27,667

Cash invested: $89,597 (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 66083

• Home prices YoY: -32.9%
• Active inventory: 415
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $2,220 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$178 /mo · $2,139/yr
• Insurance: −$133
• HOA: −$21
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $-257

Break-even live

Break-even rent $2,545

Max offer price $274,630

Occupancy floor —

Sensitivity live

Price	-10% $-76	-5% $-166	+0% $-257	+5% $-347	+10% $-438
Rent	-10% $-432	-5% $-344	+0% $-257	+5% $-169	+10% $-81
Rate	-1.0pp $-96	-0.5pp $-175	base $-257	+0.5pp $-340	+1.0pp $-424

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: $79,998
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20368 W 194th Ter Spring Hill, KS	3.0	2.0	1050	$2,295	$2.19	25d	1	0.20mi

HOA detail

• Monthly dues: $21 · $252/yr

Listing history 23 events

1. 2026-06-21
   days on market $319,990 Active 48 DOM
2. 2026-06-18
   days on market $319,990 Active 45 DOM
3. 2026-06-17
   pricedays on market $319,990 Active 44 DOM
4. 2026-06-16
   days on market $325,290 Active 43 DOM
5. 2026-06-15
   days on market $325,290 Active 42 DOM
6. 2026-06-13
   days on market $325,290 Active 40 DOM
7. 2026-06-09
   days on market $325,290 Active 36 DOM
8. 2026-06-08
   days on market $325,290 Active 35 DOM
9. 2026-06-07
   days on market $325,290 Active 34 DOM
10. 2026-06-05
    days on market $325,290 Active 31 DOM
11. 2026-06-03
    days on market $325,290 Active 30 DOM
12. 2026-06-02
    days on market $325,290 Active 29 DOM
13. 2026-06-01
    days on market $325,290 Active 28 DOM
14. 2026-05-31
    days on market $325,290 Active 27 DOM
15. 2026-05-26
    status Active
16. 2026-05-26
    price $325,290
17. 2026-05-06
    historical
18. 2026-05-04
    price $346,790
19. 2026-04-22
    status Active
20. 2026-04-16
    status Pending
21. 2026-04-08
    listed $340,290 Active
22. 2026-02-26
    historical
23. 2026-02-19
    listed $336,565 Active

ⓘ 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: $2,139 · $178/mo
• Projected year-2 tax: $4,512 · $376/mo
• Expected delta: +$2,373/yr (+$198/mo · 110.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $26,641
• − Mortgage interest: −$17,924
• − Property taxes: −$2,139
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,131
• − Management: −$2,131
• − HOA: −$252
• − Depreciation: −$9,309
• Taxable loss: −$8,846
• Est. tax savings @ 24.0%: +$2,123
• After-tax cash flow: $-958/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: Spring Hill
• NCES district ID: 2011850
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 47% ▲ 5.00%
• Median HH income: $80,172
• Composite: 40.26/100
• National rank: #3767
• State rank: #11 of 169 in KS

Livability — Spring Hill

• Score: 73/100
• State rank: #93
• US rank: #5370

Category grades

Amenities F Commute F Cost of living A- Crime A Employment A+ Housing A+ Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spring Hill, KS
• County: Johnson County · 574,662 people
• City population: 13,011
• Metro: Kansas City, MO-KS
• Population (ZIP): 13,011
• Household income: $116,791
• Rent vs Own: 17.9% rent · 82.1% own
• Severe rent burden: 274.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 663,396 people
• By 2030: 702,585 · +5.9%
• By 2040: 775,386 · +16.9%
• By 2050: 841,772 · +26.9%
• By 2075: 994,137 · +49.9%
• By 2100: 1,073,036 · +61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Lithuanian 3% Italian 3% Portuguese 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Johnson

• 2024 margin: Lean D (+8.5) · D 53.4% · R 44.9% · Other 1.8%
• 2008→2024 swing: +17.5pp toward D · 2008: -9.0pp · 2024: 8.5pp
• All cycles: 2024: D+8.5 2020: D+8.2 2016: R+2.7 2012: R+17.8 2008: R+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -130.12%
• Current HPI: 265.6494
• Rent YoY: —
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

-3.4% since first listed

9 events — show timeline

• 2026-05-26 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-05-26 Price Changed $325,290 Heartland MLS as Distributed by MLS Grid
• 2026-05-06 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-05-04 Price Changed $346,790 Heartland MLS as Distributed by MLS Grid
• 2026-04-22 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-04-16 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-08 Listed $340,290 Heartland MLS as Distributed by MLS Grid
• 2026-02-26 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-02-19 Listed $336,565 Heartland MLS as Distributed by MLS Grid