1100 N 4th St · Lansing, KS 66043

$600,000

104 bd · 1.0 ba · 3,200 sqft · MultiFamily public records · 254 Days on market

Built 1978 0.34 ac lot

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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 +3.8/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 13 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Exceptional opportunity to acquire a fully rented 13-unit portfolio, consisting of two well-maintained multifamily buildings—one with 6 units, the other with 7 units. Strong rental history with long-term tenants and solid cash flow. Both properties offer a mix of studio, 1- and 2-bedroom units, separate utilities, off-street parking, and easy access to local amenities. Ideal for investors seeking stable income and portfolio growth. Please see MLS# 2564143 for the second building. EACH BUILDING IS LISTED AT $600,000. Total $1.2 million. Seller to sell as a package.

Key facts

• 0.34 acre lot
• 6 parking spots
• Built 1978

Property features AI

Finance

• Other: Operating expenses include other items; Total of 6 rental units with estimated occupancy over 95%

Exterior

• Parking: Off-street paved parking for 6 vehicles
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High-speed internet available; Individual water heaters; Separate meters
• Home design: Residential income apartment; Two-story building; Zoned R
• Construction: Frame construction; Composition roof; Built approximately 41–50 years ago
• Exterior features: Paved road access; Public maintenance of road

Interior

• Kitchen: Range/oven in each unit; Refrigerator in each unit
• Bedrooms: Four 1-bedroom units; Two 2-bedroom units
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Natural gas baseboard heating; Electric cooling
• Interior features: Private entrance; Smoke detector(s)
• Laundry & utility: Central laundry; Individual water heaters; Separate meters

What this means for you Summary

Snapshot

• This is a 13 × 8-bed/6.0-bath units multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $17k ($208k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($27k rent vs $600k).
• Recommended offer: $528k (12.0% below list) — sets the bar for market timing.
• Cap rate 40.9% vs local median 3.5% in Lansing — 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 76/100 on livability (#52 in KS, #3,637 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• Lansing (town): math 32% / reading 45% proficiency, ranked #25 of 169 in KS (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lansing Elementary School (math 42% / reading 37%, grade F, #321 of 684 statewide, top 52%, 762 students, 40% FRL); Lansing High 9-12 (math 23% / reading 36%, grade F, #60 of 327 statewide, top 24%, 870 students, 25% FRL).
• Market conditions: 52 active listings in the ZIP; solid renter incomes; 347 units permitted in Leavenworth County in 2024 (50 in 5+ unit buildings).
• At $26,649/mo this rent would consume 310% of the median local household income ($103k/yr) (locally 154% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Leavenworth County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $168k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 254 days — a 12% lower offer ($528k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Recommended offer $528,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 254 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 4.44% ✓
• Cap rate: 40.93%
• Cash-on-cash: 123.72%
• DSCR: 6.50
• GRM: 1.9

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: 6.99×
• Total profit: $1,006,054
• Equity at exit: $89,462

10-year hold

• IRR: —
• Equity multiple: 14.67×
• Total profit: $2,297,112
• Equity at exit: $51,877

Cash invested: $168,000 (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 66043

• Home prices YoY: -17.8%
• Active inventory: 52
• Price-to-rent: 24.4×

Monthly cashflow live

• Estimated rent: $26,649 medium
• Mortgage (P&I): −$3,146
• Tax from tax record: −$336 /mo · $4,033/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,596
• Net cashflow: $17,320

Break-even live

Break-even rent $4,725

Max offer price $600,000

Occupancy floor 30%

13-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 13× units	8	6	$26,650
Total (13 units)			$26,649

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: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $600,000 Active 254 DOM
2. 2026-06-17
   days on market $600,000 Active 253 DOM
3. 2026-06-16
   days on market $600,000 Active 252 DOM
4. 2026-06-15
   days on market $600,000 Active 251 DOM
5. 2026-06-13
   days on market $600,000 Active 249 DOM
6. 2026-06-13
   days on market $600,000 Active 248 DOM
7. 2026-06-09
   days on market $600,000 Active 245 DOM
8. 2026-06-08
   days on market $600,000 Active 244 DOM
9. 2026-06-07
   days on market $600,000 Active 243 DOM
10. 2026-06-03
    days on market $600,000 Active 239 DOM
11. 2026-06-02
    days on market $600,000 Active 238 DOM
12. 2026-06-01
    days on market $600,000 Active 237 DOM
13. 2026-05-31
    days on market $600,000 Active 236 DOM
14. 2025-12-31
    status Active
15. 2025-12-18
    historical
16. 2025-12-11
    status Active
17. 2025-10-06
    status Pending
18. 2025-07-21
    listed $600,000 Active
19. 2025-07-18
    historical $600,000

ⓘ 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: $4,033 · $336/mo
• Projected year-2 tax: $8,460 · $705/mo
• Expected delta: +$4,427/yr (+$369/mo · 109.8%)

ⓘ 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 4/10 Moderate
• 🌡 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: $319,788
• − Mortgage interest: −$33,609
• − Property taxes: −$4,033
• − Insurance: −$3,000
• − Repairs & maintenance: −$25,583
• − Management: −$25,583
• − Depreciation: −$17,455
• Taxable income: $210,525
• Est. tax owed @ 24.0%: −$50,526
• After-tax cash flow: $157,316/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: Lansing
• NCES district ID: 2008340
• Math proficiency: 32% ▼ -3.00%
• Reading proficiency: 45% ▲ 1.00%
• Median HH income: $82,125
• Composite: 36.27/100
• National rank: #4703
• State rank: #25 of 169 in KS

Livability — Lansing

• Score: 76/100
• State rank: #52
• US rank: #3637

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A+ Housing A+ Health & safety A User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lansing, KS
• County: Leavenworth County · 57,713 people
• City population: 11,056
• Metro: Kansas City, MO-KS
• Population (ZIP): 11,056
• Household income: $103,060
• Rent vs Own: 21.7% rent · 78.3% own
• Severe rent burden: 154.0

Population outlook (Leavenworth County) Hauer SSP2

• Today (2025): 85,138 people
• By 2030: 87,518 · +2.8%
• By 2040: 91,715 · +7.7%
• By 2050: 95,304 · +11.9%
• By 2075: 103,750 · +21.9%
• By 2100: 101,230 · +18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 13% Two or more races 11% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 4% Romanian 3% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Leavenworth

• 2024 margin: Strong R (+22.8) · D 37.6% · R 60.4% · Other 2.1%
• 2008→2024 swing: -11.2pp toward R · 2008: -11.6pp · 2024: -22.8pp
• All cycles: 2024: R+22.8 2020: R+21.1 2016: R+24.7 2012: R+20.2 2008: R+11.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.88%
• Current HPI: 192.7951
• Rent YoY: —
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

6 events — show timeline

• 2025-12-31 Relisted — Heartland MLS as Distributed by MLS Grid
• 2025-12-18 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-12-11 Relisted — Heartland MLS as Distributed by MLS Grid
• 2025-10-06 Pending — Heartland MLS as Distributed by MLS Grid
• 2025-07-21 Listed $600,000 Heartland MLS as Distributed by MLS Grid
• 2025-07-18 Coming Soon $600,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+3.5%/yr

Latest (2025): $4,033 · +7.1% YoY. Source: county tax records.