715 SW College Ave · Topeka, KS 66606

$90,000

2 bd · 1.0 ba · 1,192 sqft · SingleFamily public records · 6 Days on market

Built 1925 6,534 sqft lot Est $126k · 29% under

---

Why this score? — see what drove the B 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 +27.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 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 MLS

Selling "AS IS". Great potential for anyone looking for some sweat equity or investment property! Listed to SELL! Great opportunity! Check it out!

Key facts

• 6,534 sq ft lot
• Garage
• Built 1925

Property features AI

Finance

• Other: Annual tax listed (amount provided in public record)

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Residential property; Package of properties (per listing); Frame construction
• Construction: Frame construction
• Exterior features: Lot approximately 50 x 125 (0.15 acre); Subdivision: Melrose

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Gas water heater; Partial block basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 9.9% 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: Lowman Hill Elem (math 17% / reading 22%, grade F, #593 of 684 statewide, top 89%, 308 students, 88% FRL); Landon Middle School (math 15% / reading 27%, grade F, #142 of 219 statewide, top 65%, 457 students, 68% FRL); Topeka High (math 11% / reading 20%, grade F, #248 of 327 statewide, top 76%, 1,514 students, 72% FRL).
• Market conditions: 67 active listings in the ZIP; 13 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 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 $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• 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 $90,000

Questions for the listing agent

1. Built in 1925 — 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: 9.95%
• Cash-on-cash: 13.06%
• DSCR: 1.58
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $126,352
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
740 SW Jewell Ave	0.07mi	2/1.0	1,114 (-6%)	5mo	$164,900	$148	82
1417 Munson Ave	0.65mi	3/1.0 (+1)	1,036 (-13%)	9mo	$110,000	$106	36
1031 SW High Ave	0.66mi	2/1.0	1,030 (-14%)	14mo	$107,000	$104	35

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: 3.0%
• Equity multiple: 1.11×
• Total profit: $2,887
• Equity at exit: $13,419

10-year hold

• IRR: 12.5%
• Equity multiple: 1.99×
• Total profit: $25,017
• Equity at exit: $7,782

Cash invested: $25,200 (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 66606

• Home prices YoY: -34.5%
• Active inventory: 67
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,106 high
• Mortgage (P&I): −$472
• Tax from tax record: −$90 /mo · $1,077/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $274

Break-even live

Break-even rent $759

Max offer price $90,000

Occupancy floor 70%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 13 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	21d	1	0.11mi
937 SW Jewell Ave Topeka, KS	3.0	1.0	1297	$1,295	$1.00	21d	1	0.26mi
1027 SW Woodward Ave Topeka, KS	3.0	1.0	864	$1,195	$1.38	21d	1	0.47mi
111 NW Quinton Ave Topeka, KS	3.0	1.5	1232	$1,045	$0.85	21d	1	0.81mi
507 SW 6th Ave Unit 001 Topeka, KS	1.0	1.0	710	$700	$0.99	21d	1	1.05mi
603 SW Topeka Blvd Topeka, KS	1.0	1.0	710	$700	$0.99	21d	1	1.07mi
1268 SW Western Ave Unit 1A Topeka, KS	2.0	1.0	1404	$1,000	$0.71	21d	1	1.09mi
1515 SW 15th St Topeka, KS	1.0	1.0	775	$700	$0.90	21d	1	1.13mi
1510 SW Lane St Topeka, KS	1.0	1.0	750	$675	$0.90	21d	1	1.16mi
1436 SW Byron St Topeka, KS	2.0	1.0	900	$720	$0.80	21d	1	1.24mi
512 SW 14th St Topeka, KS	2.0	1.0	815	$895	$1.10	21d	1	1.31mi
1116 SW 18th St Topeka, KS	3.0	1.0	1105	$1,175	$1.06	21d	1	1.45mi
1624 SW Polk St Topeka, KS	3.0	2.0	1288	$1,350	$1.05	21d	1	1.47mi

Listing history 7 events

1. 2026-05-14
   status Pending
2. 2026-05-08
   listed $90,000 Active
3. 2016-11-10
   soldstatus 156-char remark

   Show marketing remark (156 chars)

   Selling "AS IS". Great potential for anyone looking for some sweat equity or investment property! Listed to SELL! Great opportunity! Check it out!

4. 2016-11-10
   soldstatus

   Show marketing remark (156 chars)

   Selling "AS IS". Great potential for anyone looking for some sweat equity or investment property! Listed to SELL! Great opportunity! Check it out!

5. 2016-07-05
   listed $35,999 156-char remark

   Show marketing remark (156 chars)

   Selling "AS IS". Great potential for anyone looking for some sweat equity or investment property! Listed to SELL! Great opportunity! Check it out!

6. 2002-10-24
   soldstatus
7. 1999-06-29
   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: $1,077 · $90/mo
• Projected year-2 tax: $1,269 · $106/mo
• Expected delta: +$192/yr (+$16/mo · 17.8%)

ⓘ 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 5/10 Major 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: $13,268
• − Mortgage interest: −$5,041
• − Property taxes: −$1,077
• − Insurance: −$450
• − Repairs & maintenance: −$1,061
• − Management: −$1,061
• − Depreciation: −$2,618
• Taxable income: $1,959
• Est. tax owed @ 24.0%: −$470
• After-tax cash flow: $2,821/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

+150.0% since first listed

7 events — show timeline

• 2026-05-14 Pending — Sunflower MLS as distributed by MLS GRID
• 2026-05-08 Listed $90,000 Sunflower MLS as distributed by MLS GRID
• 2016-11-10 Sold (Public Records) — Public Records
• 2016-11-10 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2016-07-05 Listed $35,999 Sunflower MLS as distributed by MLS GRID
• 2002-10-24 Sold (Public Records) — Public Records
• 1999-06-29 Sold (Public Records) — Public Records

Property tax history

+1.5%/yr

Latest (2025): $1,077 · +6.8% YoY. Source: county tax records.