235 NW Story St · Topeka, KS 66606

$95,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 3 Days on market

Built 1920 4,792 sqft 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 +27.5/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• 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

Two bedroom bungalow, vinyl siding, replacement windows, new roof, high efficiency HVAC, newer water heater. Nice detached garage. Pretty much maintenance free exterior, ready for your personal touches.

Key facts

• Hvac
• Newer roof
• Water heater

Tags

• VINYL SIDING
• REPLACEMENT WINDOWS
• NEWER ROOF
• HVAC
• WATER HEATER
• DETACHED GARAGE

Property features AI

Finance

• Other: Property listed by Genesis, LLC, Realtors

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Frame construction with vinyl siding
• Exterior features: Lot approximately 38 x 160 (about 0.11 acres); Subdivision: Sam Cross

Interior

• Kitchen: Gas water heater
• Flooring: Vinyl flooring; Carpet
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Eat-in kitchen; Basement present
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Cap rate 9.8% 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: Meadows Elementary (math 27% / reading 27%, grade F, #507 of 684 statewide, top 78%, 417 students, 85% FRL); Robinson Middle School (math 10% / reading 19%, grade F, #180 of 219 statewide, top 83%, 360 students, 84% FRL); Topeka High (math 11% / reading 20%, grade F, #248 of 327 statewide, top 76%, 1,514 students, 72% FRL).
• Market conditions: 69 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $657 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $10k; list at $95k implies a 850% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.23% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.60%
• DSCR: 1.56
• GRM: 6.8

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: 2.4%
• Equity multiple: 1.09×
• Total profit: $2,408
• Equity at exit: $14,165

10-year hold

• IRR: 11.9%
• Equity multiple: 1.94×
• Total profit: $25,052
• Equity at exit: $8,214

Cash invested: $26,600 (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 66606

• Home prices YoY: -34.5%
• Active inventory: 69
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,172 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$109 /mo · $1,307/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $279

Break-even live

Break-even rent $819

Max offer price $95,000

Occupancy floor 71%

Sensitivity live

Price	-10% $333	-5% $306	+0% $279	+5% $252	+10% $226
Rent	-10% $187	-5% $233	+0% $279	+5% $326	+10% $372
Rate	-1.0pp $327	-0.5pp $303	base $279	+0.5pp $255	+1.0pp $230

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
728 SW Lindenwood Ave Topeka, KS	2.0	1.0	968	$1,195	$1.23	22d	1	0.80mi
1027 SW Woodward Ave Topeka, KS	3.0	1.0	864	$1,195	$1.38	22d	1	1.15mi
901 SW Buchanan St Topeka, KS	1.0	1.0	680	$1,300	$1.91	22d	1	1.33mi

Listing history 6 events

1. 2026-06-21
   status $95,000 Pending 3 DOM
2. 2026-06-19
   days on market $95,000 Active 3 DOM
3. 2026-06-18
   days on market $95,000 Active 2 DOM
4. 2026-06-17
   remarks 202-char remark
5. 2026-06-17
   remarks 182-char remark
6. 2026-06-17
   listed $95,000 Active 1 DOM

ⓘ 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: $1,307 · $109/mo
• Projected year-2 tax: $1,340 · $112/mo
• Expected delta: +$32/yr (+$3/mo · 2.5%)

ⓘ 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 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,067
• − Mortgage interest: −$5,321
• − Property taxes: −$1,307
• − Insurance: −$475
• − Repairs & maintenance: −$1,125
• − Management: −$1,125
• − Depreciation: −$2,764
• Taxable income: $1,948
• Est. tax owed @ 24.0%: −$468
• After-tax cash flow: $2,884/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): 9,842
• Household income: $57,169
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 521.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 7% Black 6% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -120.02%
• Current HPI: 227.5883
• Rent YoY: —
• Metro: Topeka, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+850.0% since first listed

2 events — show timeline

• 2026-06-16 Listed $95,000 Sunflower MLS as distributed by MLS GRID
• 1993-03-01 Sold (Public Records) $10,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,307 · +5.2% YoY. Source: county tax records.