2324 SW Briarwood Plz Unit 204 F · Topeka, KS 66611

$55,000

1 bd · 1.0 ba · 744 sqft · SingleFamily public records · 24 Days on market

Built 1969 436 sqft lot $223/mo HOA · 28% of rent

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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 +18.6/30.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Located in Briarwood Condominiums, this low-maintenance 1 bedroom, 1 bath second-floor unit offers comfortable living in a convenient location. Enjoy your morning coffee or evening relaxation on the covered balcony. This all-electric condo provides simple, efficient living with laundry facilities available in each building for added convenience. Residents also enjoy access to the community pool. Ideally situated close to schools, parks, shopping, dining, and easy highway access, this condo is a great opportunity for affordable homeownership or investment potential.

Key facts

• Laundry facilities
• Access to schools
• Access to parks

Tags

• COVERED BALCONY
• COMMUNITY POOL
• LAUNDRY FACILITIES
• CONVENIENT LOCATION
• ACCESS TO SCHOOLS
• ACCESS TO PARKS

Property features AI

Finance

• Other: Lot size approximately 0.01 acre
• Financial info: Tax amount available but omitted per instructions
• HOA & community: Homeowners association with monthly fee of $223; HOA includes access to a pool; HOA fee covers water, trash, and snow removal

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Public water; Public sewer
• Home design: Residential condominium; Above-grade finished area reported (measurement withheld)
• Construction: Construction details not provided
• Exterior features: In-ground pool; Condominium in the Briarwood subdivision

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator
• Bedrooms: Information on bedroom count and room levels not provided
• Flooring: Flooring details not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Electric heating
• Interior features: Electric range, dishwasher, and refrigerator included; Central air conditioning; Electric heating
• Laundry & utility: No laundry/utility details provided

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $54 ($644/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($808 rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.5% 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: Jardine Elementary (math 18% / reading 24%, grade F, #583 of 684 statewide, top 85%, 743 students, 79% FRL); Jardine Middle School (math 13% / reading 23%, grade F, #164 of 219 statewide, top 76%, 542 students, 79% FRL); Topeka High (math 11% / reading 20%, grade F, #248 of 327 statewide, top 76%, 1,514 students, 72% FRL).
• Market conditions: 49 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 219 units permitted in Shawnee County in 2024 (25 in 5+ unit buildings).
• This rent is only 17% of the median local income ($56k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 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.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,175 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.47% ✓
• Cap rate: 7.46%
• Cash-on-cash: 4.18%
• DSCR: 1.19
• GRM: 5.7

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: -9.5%
• Equity multiple: 0.65×
• Total profit: $-5,356
• Equity at exit: $8,201

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $298
• Equity at exit: $4,755

Cash invested: $15,400 (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 66611

• Active inventory: 49
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $808 high
• Mortgage (P&I): −$288
• Tax from tax record: −$51 /mo · $606/yr
• Insurance: −$23
• HOA: −$223
• Vacancy / Maint / Mgmt: −$170
• Net cashflow: $54

Break-even live

Break-even rent $740

Max offer price $55,000

Occupancy floor 88%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2220 SW 29th Ter #14 Topeka, KS	1.0	1.0	672	$695	$1.03	21d	1	0.24mi
3304 SW 29th Ter Apt 3 Topeka, KS	1.0	1.0	567	$825	$1.46	21d	1	0.67mi
3711 SW Park South Ct Topeka, KS	1.0	1.0	750	$619	$0.83	21d	1	0.77mi
3930 SW Twilight Dr Topeka, KS	1.0	1.0	730	$945	$1.29	21d	1	1.00mi
3211 SW Twilight Ct Topeka, KS	1.0–3.0	1.0–2.0	965	$860	$0.89	21d	6	1.03mi
2101 SW Potomac Dr Topeka, KS	1.0	1.0	585	$645	$1.10	21d	1	1.23mi

HOA detail

• Monthly dues: $223 · $2,676/yr
• Likely covers: electricpool

Listing history 15 events

1. 2026-06-15
   status $55,000 Pending 24 DOM
2. 2026-06-15
   days on market $55,000 Active 24 DOM
3. 2026-06-14
   days on market $55,000 Active 22 DOM
4. 2026-06-13
   days on market $55,000 Active 21 DOM
5. 2026-06-10
   days on market $55,000 Active 19 DOM
6. 2026-06-09
   days on market $55,000 Active 18 DOM
7. 2026-06-08
   days on market $55,000 Active 17 DOM
8. 2026-06-07
   days on market $55,000 Active 16 DOM
9. 2026-06-02
   days on market $55,000 Active 11 DOM
10. 2026-06-01
    days on market $55,000 Active 10 DOM
11. 2026-05-31
    days on market $55,000 Active 9 DOM
12. 2026-05-30
    days on market $55,000 Active 8 DOM
13. 2026-05-22
    listed $55,000 Active
14. 2014-01-09
    soldstatus
15. 2014-01-09
    soldstatus

ⓘ 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: $606 · $51/mo
• Projected year-2 tax: $776 · $65/mo
• Expected delta: +$169/yr (+$14/mo · 28.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 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: $9,699
• − Mortgage interest: −$3,081
• − Property taxes: −$606
• − Insurance: −$275
• − Repairs & maintenance: −$776
• − Management: −$776
• − HOA: −$2,676
• − Depreciation: −$1,600
• Taxable loss: −$91
• Est. tax savings @ 24.0%: +$22
• After-tax cash flow: $666/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): 9,828
• Household income: $55,837
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 501.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 64% Hispanic / Latino 13% Black 12% Two or more races 12%
• Hispanic origin (detail): Mexican 8% Puerto Rican 4%
• Common ancestry: Italian 2% Serbian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -142.03%
• Current HPI: 213.2041
• Rent YoY: —
• Metro: Topeka, KS
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-05-22 Listed $55,000 Sunflower MLS as distributed by MLS GRID
• 2014-01-09 Sold (Public Records) — Public Records
• 2014-01-09 Sold (Public Records) — Public Records

Property tax history

+3.9%/yr

Latest (2025): $606 · +4.8% YoY. Source: county tax records.