6340-6346 Hallet St · Shawnee, KS 66216

$690,000

8 bd · 7.2 ba · — sqft · MultiFamily · 5 Days on market

Built 1979 0.44 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 +23.4/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Livability +4.4/5.0
• Schools +3.8/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Totally rehabbed fourplex in Shawnee. New paint inside and out. New appliances Range, Ref, Dishwhasher, Washer & Dryer. All units have newly finished basements. 2BR units w/ 1 car gar & 3BR units w/ 2 car gar. Good Cashflow.

Key facts

• 0.44 acre lot
• Garage
• Built 1979

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.8-bath units multifamily listed at $690k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $320/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $690k).
• Cap rate 8.5% vs local median 3.2% in Shawnee — 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 87/100 on livability (#2 in KS, #276 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+.
• Shawnee Mission Pub Schools (suburban): math 38% / reading 46% proficiency, ranked #22 of 169 in KS (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.2%/yr); 96 active listings in the ZIP; high-income renter base; 2,969 units permitted in Johnson County in 2024 (1,066 in 5+ unit buildings).
• At $7,656/mo this rent would consume 82% of the median local household income ($112k/yr) (locally 347% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 21y 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.

Recommended offer $690,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.11% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.95%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.19% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-20,908
• Equity at exit: $102,881

10-year hold

• IRR: 8.1%
• Equity multiple: 1.65×
• Total profit: $126,217
• Equity at exit: $59,659

Cash invested: $193,200 (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 66216

• Rents YoY: 4.2%
• Active inventory: 96
• Price-to-rent: 30.0×

Monthly cashflow live

• Estimated rent: $7,656 high
• Mortgage (P&I): −$3,618
• Tax est. 1.5%: −$862 /mo · $10,350/yr
• Insurance: −$288
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,608
• Net cashflow: $1,280

Break-even live

Break-even rent $6,036

Max offer price $690,000

Occupancy floor 78%

Sensitivity live

Price	-10% $1,757	-5% $1,518	+0% $1,280	+5% $1,041	+10% $803
Rent	-10% $675	-5% $977	+0% $1,280	+5% $1,582	+10% $1,885
Rate	-1.0pp $1,627	-0.5pp $1,455	base $1,280	+0.5pp $1,101	+1.0pp $919

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.8	$7,656
Total (4 units)			$7,656

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: $172,500
• Closing costs: $20,700
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-07
   status Pending
2. 2026-04-02
   listed $690,000 Active
3. 2005-03-07
   soldstatus 236-char remark

   Show marketing remark (236 chars)

   Totally rehabbed fourplex in Shawnee. New paint inside and out. New appliances Range, Ref, Dishwhasher, Washer & Dryer. All units have newly finished basements. 2BR units w/ 1 car gar & 3BR units w/ 2 car gar. Good Cashflow.

4. 2005-01-21
   listed $369,950 236-char remark

   Show marketing remark (236 chars)

   Totally rehabbed fourplex in Shawnee. New paint inside and out. New appliances Range, Ref, Dishwhasher, Washer & Dryer. All units have newly finished basements. 2BR units w/ 1 car gar & 3BR units w/ 2 car gar. Good Cashflow.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $91,872
• − Mortgage interest: −$38,651
• − Property taxes: −$10,350
• − Insurance: −$3,450
• − Repairs & maintenance: −$7,350
• − Management: −$7,350
• − Depreciation: −$20,073
• Taxable income: $4,649
• Est. tax owed @ 24.0%: −$1,116
• After-tax cash flow: $14,242/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: Shawnee Mission Pub Schools
• NCES district ID: 2011640
• Math proficiency: 38% ▼ -6.00%
• Reading proficiency: 46% ▼ -2.00%
• Median HH income: $64,923
• Composite: 37.55/100
• National rank: #4391
• State rank: #22 of 169 in KS

Livability — Shawnee

• Score: 87/100
• State rank: #2
• US rank: #276

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shawnee, KS
• County: Johnson County · 574,662 people
• City population: 60,541
• Metro: Kansas City, MO-KS
• Population (ZIP): 24,881
• Household income: $111,744
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 347.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 9% Two or more races 7% Black 5% Asian 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 4% Slovak 2% Portuguese 2%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 4% Other Indo-European 2% Chinese 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: ▼ -208.18%
• Current HPI: 237.5218
• Rent YoY: ▲ 4.19%
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+86.5% since first listed

4 events — show timeline

• 2026-04-07 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-02 Listed $690,000 Heartland MLS as Distributed by MLS Grid
• 2005-03-07 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2005-01-21 Listed $369,950 Heartland MLS as Distributed by MLS Grid