2625 NE 37th St · Topeka, KS 66617

$160,000

3 bd · 2.0 ba · 2,472 sqft · SingleFamily public records · 111 Days on market

Built 1971 0.50 ac lot Est $156k · at est.

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Why this score? — see what drove the D- 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 +13.2/30.0
• ARV discount +6.3/15.0
• 1% rule +4.1/10.0
• DSCR +4.0/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sought After Seaman Subdivision. Ranch home with 3 bedrooms and 2 baths. Finished Lower Level. Large fenced in back yard, approx . 50 ac

Key facts

• Seaman subdivision
• Finished lower level
• 0.5 acre lot

Tags

• SEAMAN SUBDIVISION
• FINISHED LOWER LEVEL
• LARGE FENCED IN BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-3 ($-32/yr) — negative.
• To cash-flow at today's rent, offer at most $160k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (9.2% below list).
• Recommended offer: $145k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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-, schools D-, crime F.
• Seaman (suburban): math 32% / reading 37% proficiency, ranked #51 of 169 in KS (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 37 active listings in the ZIP; solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k 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 111 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $40k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $160k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,281 (9.2% 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 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.91% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $155,736
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2625 NE 37th St	0.00mi	3/2.0	2,544 (+3%)	1mo	$160,000	$63	95

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-26,050
• Equity at exit: $23,857

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-22,705
• Equity at exit: $13,834

Cash invested: $44,800 (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 66617

• Active inventory: 37
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,453 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$245 /mo · $2,936/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $-3

Break-even live

Break-even rent $1,456

Max offer price $159,522

Occupancy floor 95%

Sensitivity live

Price	-10% $88	-5% $43	+0% $-3	+5% $-48	+10% $-93
Rent	-10% $-117	-5% $-60	+0% $-3	+5% $55	+10% $112
Rate	-1.0pp $78	-0.5pp $38	base $-3	+0.5pp $-44	+1.0pp $-86

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-04-14
   status Pending 136-char remark

   Show marketing remark (136 chars)

   Sought After Seaman Subdivision. Ranch home with 3 bedrooms and 2 baths. Finished Lower Level. Large fenced in back yard, approx . 50 ac

2. 2026-04-07
   status Pending
3. 2026-03-23
   price $160,000
4. 2026-03-17
   status Active
5. 2026-03-12
   historical
6. 2026-01-14
   price $190,000 136-char remark

   Show marketing remark (136 chars)

   Sought After Seaman Subdivision. Ranch home with 3 bedrooms and 2 baths. Finished Lower Level. Large fenced in back yard, approx . 50 ac

7. 2026-01-14
   price $190,000

   Show marketing remark (136 chars)

   Sought After Seaman Subdivision. Ranch home with 3 bedrooms and 2 baths. Finished Lower Level. Large fenced in back yard, approx . 50 ac

8. 2025-12-19
   listed $200,000 Active 136-char remark

   Show marketing remark (136 chars)

   Sought After Seaman Subdivision. Ranch home with 3 bedrooms and 2 baths. Finished Lower Level. Large fenced in back yard, approx . 50 ac

9. 2025-12-13
   listed $200,000 Active
10. 2020-03-03
    soldstatus 197-char remark

    Show marketing remark (197 chars)

    Lots new in this Seaman Ranch home that sits on almost 1ac. You will love the enclosed porch, fenced yard and that country feel with quick access to town. Call today to set up your private showing.

11. 2020-03-03
    soldstatus

    Show marketing remark (197 chars)

    Lots new in this Seaman Ranch home that sits on almost 1ac. You will love the enclosed porch, fenced yard and that country feel with quick access to town. Call today to set up your private showing.

12. 2019-09-30
    listed $154,900 197-char remark

    Show marketing remark (197 chars)

    Lots new in this Seaman Ranch home that sits on almost 1ac. You will love the enclosed porch, fenced yard and that country feel with quick access to town. Call today to set up your private showing.

13. 2015-10-05
    soldstatus
14. 2015-10-02
    soldstatus
15. 2015-08-30
    listed $124,000
16. 2008-02-13
    soldstatus
17. 1985-02-01
    soldstatus $48,000

ⓘ 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: $2,936 · $245/mo
• Projected year-2 tax: $2,936 · $245/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 5/10 Major
• 🌡 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: $17,434
• − Mortgage interest: −$8,962
• − Property taxes: −$2,936
• − Insurance: −$800
• − Repairs & maintenance: −$1,395
• − Management: −$1,395
• − Depreciation: −$4,655
• Taxable loss: −$2,709
• Est. tax savings @ 24.0%: +$650
• After-tax cash flow: $618/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: Seaman
• NCES district ID: 2011490
• Math proficiency: 32% ▼ -5.00%
• Reading proficiency: 37% ▬ 0.00%
• Median HH income: $65,842
• Composite: 31.43/100
• National rank: #5985
• State rank: #51 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

• County: Shawnee County · 118,130 people
• City population: 118,130
• Metro: Topeka, KS
• Population (ZIP): 8,903
• Household income: $86,761
• Rent vs Own: 21.0% rent · 79.0% own
• Severe rent burden: 124.0

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 (80%)
• Race & ethnicity: White 80% Two or more races 11% Hispanic / Latino 6% Black 2% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 2% Iranian 1%
• Foreign-born: 1% · Canada, Vietnam

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: ▼ -166.89%
• Current HPI: 242.2774
• Rent YoY: —
• Metro: Topeka, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+233.3% since first listed

17 events — show timeline

• 2026-04-14 Pending — Sunflower MLS as distributed by MLS GRID
• 2026-04-07 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-03-23 Price Changed $160,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-17 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-03-12 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-01-14 Price Changed $190,000 Sunflower MLS as distributed by MLS GRID
• 2026-01-14 Price Changed $190,000 Heartland MLS as Distributed by MLS Grid
• 2025-12-19 Listed $200,000 Sunflower MLS as distributed by MLS GRID
• 2025-12-13 Listed $200,000 Heartland MLS as Distributed by MLS Grid
• 2020-03-03 Sold (Public Records) — Public Records
• 2020-03-03 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2019-09-30 Listed $154,900 Sunflower MLS as distributed by MLS GRID
• 2015-10-05 Sold (Public Records) — Public Records
• 2015-10-02 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2015-08-30 Listed $124,000 Sunflower MLS as distributed by MLS GRID
• 2008-02-13 Sold (Public Records) — Public Records
• 1985-02-01 Sold (Public Records) $48,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $2,936 · +0.4% YoY. Source: county tax records.