1603 Harper St · Lawrence, KS 66044

$169,900

3 bd · 1.0 ba · 853 sqft · SingleFamily public records · 47 Days on market

Built 1956 6,300 sqft lot Est $182k · 6% under

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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 +11.9/30.0
• ARV discount +10.4/15.0
• Rent growth +4.8/5.0
• Livability +4.4/5.0
• DSCR +3.5/10.0
• Schools +3.2/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for first-time home buyers or investors! Currently on a month-to-month lease so it is easily available to owner-occupants and investors alike. Month-to-month lease gives flexibility to anyone looking to move in immediately, or for an investor to negotiate a new long-term lease. As is, priced according to items listed in March 2026 inspection. Located on Lawrence's east side near the Douglas County Fairgrounds, this is a well-maintained 3-bedroom, 1-bath home. Outside, there's a detached 1-car garage, fully fenced yard, and open space behind the property offering privacy and room to enjoy the outdoors. Currently leased month-to-month for $1,500/mo.

Key facts

• 6,300 sq ft lot
• Garage
• Built 1956

Property features AI

Finance

• Other: Not in a flood plain
• HOA & community: No association fees

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; East-facing; One-story (ranch)
• Construction: Frame construction with wood siding; Composition roof; Slab foundation; Built approximately 51–75 years ago
• Exterior features: Metal fencing; Paved road with public maintenance

Interior

• Kitchen: Dishwasher; Refrigerator; Gas Range
• Bedrooms: 3 bedrooms (laundry available on bedroom level and main level)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Electric cooling (air conditioning)
• Interior features: Wood windows; Ranch floor plan
• Laundry & utility: Laundry located on bedroom level and main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-43 ($-520/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (4.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (20.0% below list).
• Recommended offer: $136k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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.
• Zoned schools: Prairie Park Elem (math 22% / reading 32%, grade F, #507 of 684 statewide, top 78%, 376 students, 56% FRL); Lawrence High (math 26% / reading 30%, grade F, #82 of 327 statewide, top 25%, 1,589 students, 50% FRL) — zoned schools average 53% FRL vs 29% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+9.0%/yr); 93 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 47 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago 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.
• Current owner paid $130k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,958 (20.0% below list)

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. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.80% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.09%
• DSCR: 0.95
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $181,689
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1516 Powers St	0.11mi	3/1.0	825 (-3%)	1mo	$195,000	$236	88
1610 Powers St	0.08mi	3/1.0	825 (-3%)	21mo	$175,000	$212	73
1531 Wedgewood Dr	0.16mi	3/1.0	957 (+12%)	0mo	$160,000	$167	72
1736 Brook St	0.41mi	3/1.0	925 (+8%)	1mo	$250,000	$270	66
1504 Oak Hill Ave	0.27mi	2/1.0 (-1)	910 (+7%)	11mo	$209,900	$231	62
1829 Brook St	0.46mi	3/1.0	925 (+8%)	5mo	$207,900	$225	60
1507 Lindenwood Ln	0.23mi	3/1.0	957 (+12%)	12mo	$189,900	$198	59
1519 Lindenwood Ln	0.22mi	3/1.0	957 (+12%)	21mo	$197,000	$206	52
1947 Miller Dr	0.55mi	3/1.0	925 (+8%)	18mo	$197,000	$213	45

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.9%
• Equity multiple: 0.51×
• Total profit: $-23,120
• Equity at exit: $25,333

10-year hold

• IRR: 2.2%
• Equity multiple: 1.19×
• Total profit: $8,958
• Equity at exit: $14,690

Cash invested: $47,572 (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 66044

• Rents YoY: 9.0%
• Active inventory: 93
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,360 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$156 /mo · $1,868/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $-43

Break-even live

Break-even rent $1,414

Max offer price $162,246

Occupancy floor 98%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1908 E 19th St Lawrence, KS	3.0	2.0	1328	$1,509	$1.14	10d	1	0.34mi
2130 Silicon Ave Bldg A-O Lawrence, KS	2.0	1.5	1104	$1,220	$1.11	23d	2	0.74mi
1336 Crosswinds Ct Lawrence, KS	2.0	1.0	890	$1,095	$1.23	21d	1	0.78mi

Listing history 15 events

1. 2026-05-18
   historical Active Under Contract 673-char remark

   Show marketing remark (673 chars)

   Great opportunity for first-time home buyers or investors! Currently on a month-to-month lease so it is easily available to owner-occupants and investors alike. Month-to-month lease gives flexibility to anyone looking to move in immediately, or for an investor to negotiate a new long-term lease. As is, priced according to items listed in March 2026 inspection. Located on Lawrence's east side near the Douglas County Fairgrounds, this is a well-maintained 3-bedroom, 1-bath home. Outside, there's a detached 1-car garage, fully fenced yard, and open space behind the property offering privacy and room to enjoy the outdoors. Currently leased month-to-month for $1,500/mo.

2. 2026-05-18
   status Pending

   Show marketing remark (673 chars)

   Great opportunity for first-time home buyers or investors! Currently on a month-to-month lease so it is easily available to owner-occupants and investors alike. Month-to-month lease gives flexibility to anyone looking to move in immediately, or for an investor to negotiate a new long-term lease. As is, priced according to items listed in March 2026 inspection. Located on Lawrence's east side near the Douglas County Fairgrounds, this is a well-maintained 3-bedroom, 1-bath home. Outside, there's a detached 1-car garage, fully fenced yard, and open space behind the property offering privacy and room to enjoy the outdoors. Currently leased month-to-month for $1,500/mo.

3. 2026-04-17
   price $169,900 673-char remark

   Show marketing remark (673 chars)

   Great opportunity for first-time home buyers or investors! Currently on a month-to-month lease so it is easily available to owner-occupants and investors alike. Month-to-month lease gives flexibility to anyone looking to move in immediately, or for an investor to negotiate a new long-term lease. As is, priced according to items listed in March 2026 inspection. Located on Lawrence's east side near the Douglas County Fairgrounds, this is a well-maintained 3-bedroom, 1-bath home. Outside, there's a detached 1-car garage, fully fenced yard, and open space behind the property offering privacy and room to enjoy the outdoors. Currently leased month-to-month for $1,500/mo.

4. 2026-04-17
   price $169,900

   Show marketing remark (673 chars)

   Great opportunity for first-time home buyers or investors! Currently on a month-to-month lease so it is easily available to owner-occupants and investors alike. Month-to-month lease gives flexibility to anyone looking to move in immediately, or for an investor to negotiate a new long-term lease. As is, priced according to items listed in March 2026 inspection. Located on Lawrence's east side near the Douglas County Fairgrounds, this is a well-maintained 3-bedroom, 1-bath home. Outside, there's a detached 1-car garage, fully fenced yard, and open space behind the property offering privacy and room to enjoy the outdoors. Currently leased month-to-month for $1,500/mo.

5. 2026-04-01
   listed $175,000 Active 673-char remark

   Show marketing remark (673 chars)

   Great opportunity for first-time home buyers or investors! Currently on a month-to-month lease so it is easily available to owner-occupants and investors alike. Month-to-month lease gives flexibility to anyone looking to move in immediately, or for an investor to negotiate a new long-term lease. As is, priced according to items listed in March 2026 inspection. Located on Lawrence's east side near the Douglas County Fairgrounds, this is a well-maintained 3-bedroom, 1-bath home. Outside, there's a detached 1-car garage, fully fenced yard, and open space behind the property offering privacy and room to enjoy the outdoors. Currently leased month-to-month for $1,500/mo.

6. 2026-04-01
   listed $175,000 Active

   Show marketing remark (673 chars)

   Great opportunity for first-time home buyers or investors! Currently on a month-to-month lease so it is easily available to owner-occupants and investors alike. Month-to-month lease gives flexibility to anyone looking to move in immediately, or for an investor to negotiate a new long-term lease. As is, priced according to items listed in March 2026 inspection. Located on Lawrence's east side near the Douglas County Fairgrounds, this is a well-maintained 3-bedroom, 1-bath home. Outside, there's a detached 1-car garage, fully fenced yard, and open space behind the property offering privacy and room to enjoy the outdoors. Currently leased month-to-month for $1,500/mo.

7. 2023-12-20
   soldstatus Closed 308-char remark

   Show marketing remark (308 chars)

   Sweet, mid-century modern home in East Lawrence with great natural light. Fresh paint in several rooms, new flooring, updated tile in several areas. Three bedrooms, One bathroom, detached single car garage. Close proximity to East Lawrence Rec Center. Great value here for a first time homebuyer or investor!

8. 2023-11-21
   historical Active Under Contract 308-char remark

   Show marketing remark (308 chars)

   Sweet, mid-century modern home in East Lawrence with great natural light. Fresh paint in several rooms, new flooring, updated tile in several areas. Three bedrooms, One bathroom, detached single car garage. Close proximity to East Lawrence Rec Center. Great value here for a first time homebuyer or investor!

9. 2023-11-17
   listed $135,500 Active 308-char remark

   Show marketing remark (308 chars)

   Sweet, mid-century modern home in East Lawrence with great natural light. Fresh paint in several rooms, new flooring, updated tile in several areas. Three bedrooms, One bathroom, detached single car garage. Close proximity to East Lawrence Rec Center. Great value here for a first time homebuyer or investor!

10. 2021-09-10
    soldstatus
11. 2021-09-10
    soldstatus
12. 2021-09-10
    soldstatus $130,000
13. 2021-08-13
    listed $110,000
14. 2021-08-13
    listed $110,000
15. 1991-05-31
    soldstatus

ⓘ 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: $1,868 · $156/mo
• Projected year-2 tax: $2,396 · $200/mo
• Expected delta: +$528/yr (+$44/mo · 28.3%)

ⓘ 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 4/10 Moderate 7 d/yr ≥110°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,315
• − Mortgage interest: −$9,517
• − Property taxes: −$1,868
• − Insurance: −$850
• − Repairs & maintenance: −$1,305
• − Management: −$1,305
• − Depreciation: −$4,943
• Taxable loss: −$3,472
• Est. tax savings @ 24.0%: +$833
• After-tax cash flow: $313/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
• County: Douglas County · 100,966 people
• City population: 100,966
• Metro: Lawrence, KS
• Population (ZIP): 28,820
• Household income: $55,955
• Rent vs Own: 61.4% rent · 38.6% own
• Severe rent burden: 2168.0

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 (78%)
• Race & ethnicity: White 78% Two or more races 9% Hispanic / Latino 7% Black 4% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Lithuanian 3% Italian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 4% Other Asian/Pacific 1% Chinese 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: ▼ -357.53%
• Current HPI: 247.5888
• Rent YoY: ▲ 9.02%
• Metro: Lawrence, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+54.5% since first listed

15 events — show timeline

• 2026-05-18 Contingent — Lawrence MLS as distributed by MLS GRID
• 2026-05-18 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $169,900 Lawrence MLS as distributed by MLS GRID
• 2026-04-17 Price Changed $169,900 Heartland MLS as Distributed by MLS Grid
• 2026-04-01 Listed $175,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-01 Listed $175,000 Lawrence MLS as distributed by MLS GRID
• 2023-12-20 Sold (MLS) — Lawrence MLS as distributed by MLS GRID
• 2023-11-21 Contingent — Lawrence MLS as distributed by MLS GRID
• 2023-11-17 Listed $135,500 Lawrence MLS as distributed by MLS GRID
• 2021-09-10 Sold (Public Records) $130,000 Public Records
• 2021-09-10 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2021-09-10 Sold (MLS) — Lawrence MLS as distributed by MLS GRID
• 2021-08-13 Listed $110,000 Heartland MLS as Distributed by MLS Grid
• 2021-08-13 Listed $110,000 Lawrence MLS as distributed by MLS GRID
• 1991-05-31 Sold (Public Records) — Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,868 · +2.2% YoY. Source: county tax records.