20965 W 217th St · Spring Hill, KS 66083

$398,990

4 bd · 3.0 ba · 2,190 sqft · Land · 1 Days on market

Built 2026 8,976 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.0/30.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

* * * Sold before processed * * * Built by D. R. Horton Inc®, this stunning residence is our Harmony Plan, which combines superior craftsmanship with the latest in-home design, creating a space that’s as functional as it is beautiful. This 3-bedroom, 2-bathroom, Ranch style home is situated in Spring Hill, KS. Comfortably nestled in the heart of our Maplewood Valley community. As you step inside, you’ll be greeted by an abundance of natural light. The heart of this home is undoubtedly the Chefs Kitchen, featuring a Chef-inspired range, gorgeous 30-inch painted maple cabinets, beautiful white quartz countertops, and top-of-the-line Whirlpool® stainless steel applia

Key facts

• 8,976 sq ft lot
• 2 garage spots
• Built 2026

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $399k.

Deal economics

• At list price, monthly cash flow is $-585 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $314k (21.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $275k (31.1% below list).
• Recommended offer: $275k (31.1% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 3.5% in Spring Hill — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 73/100 on livability (#93 in KS) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Spring Hill (rural): math 40% / reading 47% proficiency, ranked #11 of 169 in KS (top 6%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Spring Hill Elementary School (math 41% / reading 48%, grade F, #228 of 684 statewide, top 38%, 611 students, 31% FRL); Spring Hill High School (math 27% / reading 47%, grade F, #26 of 327 statewide, top 8%, 983 students, 18% FRL).
• Market conditions: 411 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 100 units permitted in Miami County in 2024 (0 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.
• Miami County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $274,951 (31.1% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.69% ✗
• Cap rate: 4.53%
• Cash-on-cash: -6.29%
• DSCR: 0.72
• GRM: 12.1

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: -27.1%
• Equity multiple: 0.09×
• Total profit: $-101,885
• Equity at exit: $59,491

10-year hold

• IRR: -24.9%
• Equity multiple: -0.22×
• Total profit: $-136,546
• Equity at exit: $34,497

Cash invested: $111,717 (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 66083

• Home prices YoY: -32.9%
• Active inventory: 411
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,750 medium
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $-585

Break-even live

Break-even rent $3,490

Max offer price $314,308

Occupancy floor —

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: $99,748
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21203 W 216th Ter Spring Hill, KS	2.0–4.0	2.5–3.5	1536	$2,395	$1.56	1d	20	0.24mi
21743 Johnson Ct Spring Hill, KS	3.0	2.5	1781	$2,600	$1.46	1d	1	0.74mi
201 E Hale St Spring Hill, KS	4.0	2.0	2300	$2,051	$0.89	12d	1	0.85mi

Listing history 2 events

1. 2026-02-02
   status Pending
2. 2026-02-02
   listed $398,990 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,994
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$2,640
• − Management: −$2,640
• − Depreciation: −$11,607
• Taxable loss: −$14,221
• Est. tax savings @ 24.0%: +$3,413
• After-tax cash flow: $-3,609/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: Spring Hill
• NCES district ID: 2011850
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 47% ▲ 5.00%
• Median HH income: $80,172
• Composite: 40.26/100
• National rank: #3767
• State rank: #11 of 169 in KS

Livability — Spring Hill

• Score: 73/100
• State rank: #93
• US rank: #5370

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spring Hill, KS
• County: Johnson County · 574,662 people
• City population: 13,011
• Metro: Kansas City, MO-KS
• Population (ZIP): 13,011
• Household income: $116,791
• Rent vs Own: 17.9% rent · 82.1% own
• Severe rent burden: 274.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 32,162 people
• By 2030: 31,472 · -2.1%
• By 2040: 29,611 · -7.9%
• By 2050: 27,277 · -15.2%
• By 2075: 22,738 · -29.3%
• By 2100: 18,479 · -42.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Lithuanian 3% Italian 3% Portuguese 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+39.5) · D 29.3% · R 68.8% · Other 1.9%
• 2008→2024 swing: -15.8pp toward R · 2008: -23.7pp · 2024: -39.5pp
• All cycles: 2024: R+39.5 2020: R+39.6 2016: R+40.0 2012: R+34.8 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -130.12%
• Current HPI: 265.6494
• Rent YoY: —
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-02-02 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-02-02 Listed $398,990 Heartland MLS as Distributed by MLS Grid

Property tax history

-16.8%/yr

Latest (2025): $355 · +10.3% YoY. Source: county tax records.