807 SE 42nd St #803 · Topeka, KS 66609

$11,800

2 bd · 2.0 ba · 924 sqft · Manufactured · 142 Days on market

Built 2024

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Built 2024
• Listed 141 days

Property features AI

Finance

• Financial info: List price indicated

Exterior

• Utilities: Natural gas; Central air
• Home design: Condominium/unit at 807 SE 42nd St #803, Topeka, KS 66609; Spec inventory, Plan 91398
• Exterior features: Living area listed (924)

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 bathrooms (total, including full bathrooms)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Active listing

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $12k.

Deal economics

• At list price, monthly cash flow is $273 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $12k).
• Recommended offer: $10k (12.0% below list) — sets the bar for market timing.
• Cap rate 80.9% 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-, schools D-, crime F.
• Shawnee Heights (rural): math 27% / reading 30% proficiency, ranked #90 of 169 in KS (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 39 active listings in the ZIP; 7 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 $82 of loan paydown is wiped out by about $354 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 $3k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($10k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $10,384 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
8. 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.
9. 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.
10. 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: 8.74% ✓
• Cap rate: 80.86%
• Cash-on-cash: 266.29%
• DSCR: 12.85
• GRM: 1.0

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: —
• Equity multiple: 5.77×
• Total profit: $15,760
• Equity at exit: $1,759

10-year hold

• IRR: —
• Equity multiple: 12.29×
• Total profit: $37,307
• Equity at exit: $1,020

Cash invested: $3,304 (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 66609

• Home prices YoY: -14.6%
• Active inventory: 39
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,031 high
• Mortgage (P&I): −$62
• Tax est. 1.5%: −$15 /mo · $177/yr
• Insurance: −$5
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $273

Break-even live

Break-even rent $686

Max offer price $11,800

Occupancy floor 69%

Sensitivity live

Price	-10% $281	-5% $277	+0% $273	+5% $269	+10% $265
Rent	-10% $191	-5% $232	+0% $273	+5% $314	+10% $354
Rate	-1.0pp $279	-0.5pp $276	base $273	+0.5pp $270	+1.0pp $267

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: $2,950
• Closing costs: $354
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3831 SW South Park Ave Unit 34 Topeka, KS	2.0	2.0	840	$950	$1.13	21d	1	0.94mi
3365 SE Girard St Topeka, KS	2.0	1.0	1023	$950	$0.93	21d	1	1.04mi
3317 SE Bryant St Topeka, KS	3.0	1.0	1000	$1,050	$1.05	21d	1	1.08mi
4842 SW Topeka Blvd Topeka, KS	2.0	2.0	840	$950	$1.13	21d	1	1.35mi
201 SW Sanneman Dr Topeka, KS	2.0	1.0	660	$795	$1.20	21d	1	1.42mi
3635 SW Devon Ave Topeka, KS	3.0	1.0	1118	$1,250	$1.12	21d	1	1.45mi
3570 SW Kerry Ave Topeka, KS	3.0	1.0	1080	$1,350	$1.25	21d	1	1.50mi

Listing history 5 events

1. 2026-06-03
   days on market $11,800 Active 142 DOM
2. 2026-06-02
   days on market $11,800 Active 141 DOM
3. 2026-06-01
   pricedays on market $11,800 Active 140 DOM
4. 2026-05-31
   days on market $11,300 Active 139 DOM
5. 2026-05-30
   days on market $11,300 Active 138 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,376
• − Mortgage interest: −$661
• − Property taxes: −$177
• − Insurance: −$5,584
• − Repairs & maintenance: −$990
• − Management: −$990
• − Depreciation: −$343
• Taxable income: $3,630
• Est. tax owed @ 24.0%: −$871
• After-tax cash flow: $2,402/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: Shawnee Heights
• NCES district ID: 2012180
• Math proficiency: 27% ▼ -11.00%
• Reading proficiency: 30% ▼ -7.00%
• Median HH income: $71,771
• Composite: 27.04/100
• National rank: #7053
• State rank: #90 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): 7,912

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 15% Two or more races 11% Black 9%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 5% Iranian 2% Slovak 2%
• Foreign-born: 7% · Canada
• Languages at home: 83% English-only · Spanish 13% Russian/Polish/Slavic 2% Tagalog/Filipino 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: ▼ -38.27%
• Current HPI: 223.4808
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0