217 SW Tyler St · Topeka, KS 66603

$39,900

3 bd · 1.5 ba · 1,818 sqft · SingleFamily public records · 85 Days on market

Built 1900 5,663 sqft lot ↓ 16% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks

This 3-bedroom, 1.5-bath two-story home is the perfect canvas for an investor or a buyer looking to build immediate sweat equity. If you’ve been searching for a "fix it yourself" opportunity to own a home at an affordable price, this is the one! Massive Expansion Potential: The third floor is already framed for two additional bedrooms, offering a clear path to a 5-bedroom layout. Exterior was painted and sewer line replaced in 2020. Sold "as-is" Bring your tools and your vision.

Key facts

• 5,663 sq ft lot
• Built 1900
• Listed 84 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame construction; Above-grade finished area 1,818
• Exterior features: Composition roof; Lot approximately 0.13 acre

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Window unit(s) for cooling
• Interior features: Gas water heater; Basement
• Laundry & utility: Laundry on upper level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.5% 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: 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: 8 active listings in the ZIP; 5 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

• In year one you build about $2k of equity ($276 loan paydown + $2k appreciation (3.8% local appreciation)).
• Shawnee County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $37,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.63% ✓
• Cap rate: 22.47%
• Cash-on-cash: 57.77%
• DSCR: 3.57
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.77% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 63.5%
• Equity multiple: 4.65×
• Total profit: $40,744
• Equity at exit: $19,702

10-year hold

• IRR: 62.4%
• Equity multiple: 9.51×
• Total profit: $95,095
• Equity at exit: $31,809

Cash invested: $11,172 (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 66603

• Home prices YoY: 2.1%
• Active inventory: 8
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,051 high
• Mortgage (P&I): −$209
• Tax from tax record: −$66 /mo · $796/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $538

Break-even live

Break-even rent $370

Max offer price $39,900

Occupancy floor 44%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
416 SW Clay St Topeka, KS	3.0	1.0	1639	$1,025	$0.63	21d	1	0.41mi
111 NW Quinton Ave Topeka, KS	3.0	1.5	1232	$1,045	$0.85	21d	1	0.59mi
822 SW 8th Ave Topeka, KS	3.0	1.5	1600	$1,025	$0.64	21d	1	0.59mi
1268 SW Western Ave Unit 1A Topeka, KS	2.0	1.0	1404	$1,000	$0.71	21d	1	1.19mi
937 SW Jewell Ave Topeka, KS	3.0	1.0	1297	$1,295	$1.00	21d	1	1.30mi

Listing history 18 events

1. 2026-06-19
   days on market $39,900 Active 85 DOM
2. 2026-06-18
   days on market $39,900 Active 84 DOM
3. 2026-06-17
   days on market $39,900 Active 83 DOM
4. 2026-06-16
   days on market $39,900 Active 82 DOM
5. 2026-06-15
   days on market $39,900 Active 81 DOM
6. 2026-06-14
   days on market $39,900 Active 79 DOM
7. 2026-06-13
   days on market $39,900 Active 78 DOM
8. 2026-06-10
   days on market $39,900 Active 76 DOM
9. 2026-06-09
   days on market $39,900 Active 75 DOM
10. 2026-06-08
    days on market $39,900 Active 74 DOM
11. 2026-06-07
    pricedays on market $39,900 Active 73 DOM
12. 2026-06-02
    days on market $42,000 Active 68 DOM
13. 2026-06-01
    days on market $42,000 Active 67 DOM
14. 2026-05-31
    days on market $42,000 Active 66 DOM
15. 2026-05-30
    days on market $42,000 Active 65 DOM
16. 2026-05-06
    price $42,000
17. 2026-04-16
    price $44,900
18. 2026-03-26
    listed $49,900 Active

ⓘ 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: $796 · $66/mo
• Projected year-2 tax: $796 · $66/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 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: $12,609
• − Mortgage interest: −$2,235
• − Property taxes: −$796
• − Insurance: −$200
• − Repairs & maintenance: −$1,009
• − Management: −$1,009
• − Depreciation: −$1,161
• Taxable income: $6,200
• Est. tax owed @ 24.0%: −$1,488
• After-tax cash flow: $4,966/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
• City population: 118,130
• Population (ZIP): 1,304

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: Highly diverse neighborhood (Simpson 0.77)
• Race & ethnicity: White 42% Two or more races 35% Hispanic / Latino 22% Black 8% Native American 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Italian 5% Iranian 2% Scotch-Irish 2%
• Foreign-born: 9% · Canada
• Languages at home: 85% English-only · Spanish 13% German/W. Germanic 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: ▲ 3.77%
• Current HPI: 183.9857
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-15.8% since first listed

3 events — show timeline

• 2026-05-06 Price Changed $42,000 Sunflower MLS as distributed by MLS GRID
• 2026-04-16 Price Changed $44,900 Sunflower MLS as distributed by MLS GRID
• 2026-03-26 Listed $49,900 Sunflower MLS as distributed by MLS GRID

Property tax history

+1.6%/yr

Latest (2025): $796 · +6.8% YoY. Source: county tax records.