1003 2nd St · Lawrence, KS 66073

$329,950

4 bd · 3.0 ba · 2,076 sqft · SingleFamily · 1 Days on market

Built 2026 7,410 sqft 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 +13.0/30.0
• ARV discount +7.5/15.0
• Livability +4.4/5.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

4-BED NEW CONSTRUCTION WITH OPEN FLOOR PLAN AND MODERN FINISHES! This brand-new 4-bedroom split-entry home offers an open layout with great natural light and plenty of functional space. The kitchen features granite counters, a center island, pantry, and luxury vinyl flooring that continues through the main living areas. The primary suite includes a private bath and walk-in closet, with two additional bedrooms and a full bath located on the main level. Main-floor laundry adds convenience to daily routines. The finished basement provides additional living area with a comfortable family room, a fourth bedroom, and a full bath. Located near everyday amenities and major routes, this home offers modern features and thoughtful design at an excellent value. Taxes and room sizes estimated. Seller is a licensed real estate agent in KS & MO.

Key facts

• 7,410 sq ft lot
• 2 garage spots
• Built 2026

🏗️ New construction. The $329,950 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $415,200.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $-25 ($-304/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $330k).
• Cap rate 6.2% vs local median 2.7% in Lawrence — 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 88/100 on livability (#1 in KS, #237 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime D-.
• Lawrence (urban): math 31% / reading 44% proficiency, ranked #46 of 169 in KS (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 25 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 246 units permitted in Douglas County in 2024 (38 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Douglas County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $329,950

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D 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?
4. 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?
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: 0.87% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $415,200
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1215 W 4th St	0.32mi	4/1.5	2,016 (-3%)	7mo	$435,000	$216	68
415 Illinois St	0.30mi	3/1.5 (-1)	1,880 (-9%)	2mo	$284,900	$152	58
907 W 6th St	0.53mi	4/2.0	1,853 (-11%)	10mo	$380,000	$205	45
627 Maine St	0.60mi	5/2.0 (+1)	2,021 (-3%)	20mo	$290,000	$143	42
714 Illinois St	0.69mi	3/2.0 (-1)	1,975 (-5%)	24mo	$395,000	$200	31

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: -16.7%
• Equity multiple: 0.41×
• Total profit: $-68,841
• Equity at exit: $61,908

10-year hold

• IRR: -8.5%
• Equity multiple: 0.47×
• Total profit: $-61,804
• Equity at exit: $35,899

Cash invested: $116,256 (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 66073

• Home prices YoY: -8.6%
• Active inventory: 25
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,600 medium
• Mortgage (P&I): −$2,177
• Tax est. 1.5%: −$519 /mo · $6,228/yr
• Insurance: −$173
• HOA: −$0
• Vacancy / Maint / Mgmt: −$756
• Net cashflow: $-25

Break-even live

Break-even rent $3,632

Max offer price $411,531

Occupancy floor 96%

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: $103,800
• Closing costs: $12,456
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 Missouri St Lawrence, KS	4.0	4.0	1580	$3,600	$2.28	8d	1	0.96mi

Listing history 4 events

1. 2026-02-19
   status Pending

   Show marketing remark (848 chars)

   4-BED NEW CONSTRUCTION WITH OPEN FLOOR PLAN AND MODERN FINISHES! This brand-new 4-bedroom split-entry home offers an open layout with great natural light and plenty of functional space. The kitchen features granite counters, a center island, pantry, and luxury vinyl flooring that continues through the main living areas. The primary suite includes a private bath and walk-in closet, with two additional bedrooms and a full bath located on the main level. Main-floor laundry adds convenience to daily routines. The finished basement provides additional living area with a comfortable family room, a fourth bedroom, and a full bath. Located near everyday amenities and major routes, this home offers modern features and thoughtful design at an excellent value. Taxes and room sizes estimated. Seller is a licensed real estate agent in KS & MO.

2. 2026-02-19
   historical Active Under Contract 848-char remark

   Show marketing remark (848 chars)

   4-BED NEW CONSTRUCTION WITH OPEN FLOOR PLAN AND MODERN FINISHES! This brand-new 4-bedroom split-entry home offers an open layout with great natural light and plenty of functional space. The kitchen features granite counters, a center island, pantry, and luxury vinyl flooring that continues through the main living areas. The primary suite includes a private bath and walk-in closet, with two additional bedrooms and a full bath located on the main level. Main-floor laundry adds convenience to daily routines. The finished basement provides additional living area with a comfortable family room, a fourth bedroom, and a full bath. Located near everyday amenities and major routes, this home offers modern features and thoughtful design at an excellent value. Taxes and room sizes estimated. Seller is a licensed real estate agent in KS & MO.

3. 2026-02-19
   listed $329,950 Active

   Show marketing remark (848 chars)

   4-BED NEW CONSTRUCTION WITH OPEN FLOOR PLAN AND MODERN FINISHES! This brand-new 4-bedroom split-entry home offers an open layout with great natural light and plenty of functional space. The kitchen features granite counters, a center island, pantry, and luxury vinyl flooring that continues through the main living areas. The primary suite includes a private bath and walk-in closet, with two additional bedrooms and a full bath located on the main level. Main-floor laundry adds convenience to daily routines. The finished basement provides additional living area with a comfortable family room, a fourth bedroom, and a full bath. Located near everyday amenities and major routes, this home offers modern features and thoughtful design at an excellent value. Taxes and room sizes estimated. Seller is a licensed real estate agent in KS & MO.

4. 2026-02-19
   listed $329,950 Active 848-char remark

   Show marketing remark (848 chars)

   4-BED NEW CONSTRUCTION WITH OPEN FLOOR PLAN AND MODERN FINISHES! This brand-new 4-bedroom split-entry home offers an open layout with great natural light and plenty of functional space. The kitchen features granite counters, a center island, pantry, and luxury vinyl flooring that continues through the main living areas. The primary suite includes a private bath and walk-in closet, with two additional bedrooms and a full bath located on the main level. Main-floor laundry adds convenience to daily routines. The finished basement provides additional living area with a comfortable family room, a fourth bedroom, and a full bath. Located near everyday amenities and major routes, this home offers modern features and thoughtful design at an excellent value. Taxes and room sizes estimated. Seller is a licensed real estate agent in KS & MO.

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

Taxation est. · year 1

• Rental income: $43,200
• − Mortgage interest: −$23,258
• − Property taxes: −$6,228
• − Insurance: −$2,076
• − Repairs & maintenance: −$3,456
• − Management: −$3,456
• − Depreciation: −$12,079
• Taxable loss: −$7,352
• Est. tax savings @ 24.0%: +$1,765
• After-tax cash flow: $1,460/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: Lawrence
• NCES district ID: 2008400
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 44% ▬ 0.00%
• Median HH income: $46,259
• Composite: 32.02/100
• National rank: #5826
• State rank: #46 of 169 in KS

Livability — Lawrence

• Score: 88/100
• State rank: #1
• US rank: #237

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime D- Employment C+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lawrence, KS
• City population: 100,966
• Population (ZIP): 2,381

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 136,863 people
• By 2030: 147,255 · +7.6%
• By 2040: 167,760 · +22.6%
• By 2050: 190,593 · +39.3%
• By 2075: 253,850 · +85.5%
• By 2100: 314,741 · +130.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 5% Two or more races 5% Black 2%
• Common ancestry: Italian 3% Iranian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Douglas

• 2024 margin: Solid D (+38.0) · D 68.2% · R 30.2% · Other 1.6%
• 2008→2024 swing: +7.2pp toward D · 2008: 30.8pp · 2024: 38.0pp
• All cycles: 2024: D+38.0 2020: D+39.5 2016: D+32.7 2012: D+23.7 2008: D+30.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.51%
• Current HPI: 219.277
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

4 events — show timeline

• 2026-02-19 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-02-19 Contingent — Lawrence MLS as distributed by MLS GRID
• 2026-02-19 Listed $329,950 Lawrence MLS as distributed by MLS GRID
• 2026-02-19 Listed $329,950 Heartland MLS as Distributed by MLS Grid