1900 NW Lyman Rd #80 · Topeka, KS 66608

$22,800

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 52 Days on market

Built 2026

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

* THIS IS A RESALE LISTING * This welcoming, well-maintained 3 bedroom, 2 bathroom home is a perfect place to raise your family. For your convenience, we have onsite community management to assist you when you need it. With our family-friendly community amenities such as a swimming pool, community events, and a clubhouse, your family will be excited to live here. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Clubhouse
• Swimming pool
• Built 2026

Tags

• SWIMMING POOL
• CLUBHOUSE

Property features AI

Finance

• Other: Listing status: Active
• Financial info: List price $22,800

Exterior

• Utilities: Natural gas; Electricity with central air
• Home design: Spec home (Plan 92649)
• Construction: Located at 1900 NW Lyman Rd #80, Topeka, KS 66608
• Exterior features: Living area 1216

Interior

• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 2 total bathrooms; 3 total bedrooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $23k.

Deal economics

• At list price, monthly cash flow is $756 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $23k).
• Recommended offer: $22k (3.0% below list) — sets the bar for market timing.
• Cap rate 46.1% 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: 32 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 219 units permitted in Shawnee County in 2024 (25 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($158 loan paydown + $1k appreciation (5.0% 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 (5.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($22k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $22,116 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 5.07% ✓
• Cap rate: 46.06%
• Cash-on-cash: 142.04%
• DSCR: 7.32
• GRM: 1.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.37×
• Total profit: $53,449
• Equity at exit: $12,971

10-year hold

• IRR: —
• Equity multiple: 19.79×
• Total profit: $119,982
• Equity at exit: $22,428

Cash invested: $6,384 (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 66608

• Home prices YoY: 2.3%
• Active inventory: 32
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,156 medium
• Mortgage (P&I): −$120
• Tax est. 1.5%: −$28 /mo · $342/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $756

Break-even live

Break-even rent $199

Max offer price $22,800

Occupancy floor 30%

Sensitivity live

Price	-10% $771	-5% $764	+0% $756	+5% $748	+10% $740
Rent	-10% $664	-5% $710	+0% $756	+5% $801	+10% $847
Rate	-1.0pp $767	-0.5pp $761	base $756	+0.5pp $750	+1.0pp $744

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: $5,700
• Closing costs: $684
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1700 NW Polk St Topeka, KS	3.0	1.0	988	$1,350	$1.37	21d	1	1.11mi
1104 NW Starlight Cir Topeka, KS	3.0	2.0	1024	$960	$0.94	21d	1	1.16mi

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 14% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $13,872
• − Mortgage interest: −$1,277
• − Property taxes: −$342
• − Insurance: −$114
• − Repairs & maintenance: −$1,110
• − Management: −$1,110
• − Depreciation: −$663
• Taxable income: $9,256
• Est. tax owed @ 24.0%: −$2,221
• After-tax cash flow: $6,847/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

• Census place: Topeka, KS
• City population: 118,130
• Population (ZIP): 4,789

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 (78%)
• Race & ethnicity: White 78% Black 10% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 2% Romanian 2% Iranian 2%
• Foreign-born: 1% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 4% Korean 1%

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: ▲ 5.04%
• Current HPI: 223.2676
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0