1519 SW Washburn Ave · Topeka, KS 66604

$105,000

3 bd · 2.0 ba · 1,296 sqft · SingleFamily public records · 5 Days on market

Built 1920 4,792 sqft lot Est $140k · 25% under

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Why this score? — see what drove the B- 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 +25.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +6.0/10.0
• Rent growth +3.6/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for a home within two blocks of Washburn University. 3 Bedrooms, 2 full baths and a detached garage. Fully privacy fenced yard, vinyl siding, thermal pane windows and a covered front porch. Home offers all amenities for one level living. There is a bedroom, family room, dining, large kitchen, separate laundry room with sink and a full bath all on the main floor. Upstairs are two large bedrooms and another full bath. Call today!

Key facts

• Covered front porch
• Large kitchen
• Vinyl siding

Tags

• PRIVACY FENCED YARD
• VINYL SIDING
• THERMAL PANE WINDOWS
• COVERED FRONT PORCH
• ONE LEVEL LIVING
• LARGE KITCHEN

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; One-story above grade living area
• Construction: Vinyl siding; Composition roof
• Exterior features: Deck; Fenced yard

Interior

• Bathrooms: Two full bathrooms
• Interior features: Full unfinished basement with sump pump
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Cap rate 9.0% 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-, crime F, commute F.
• Topeka Public Schools (urban): math 17% / reading 23% proficiency, ranked #158 of 169 in KS (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Randolph Elem (math 22% / reading 37%, grade F, #463 of 684 statewide, top 73%, 359 students, 76% FRL); Robinson Middle School (math 10% / reading 19%, grade F, #180 of 219 statewide, top 83%, 360 students, 84% FRL); Topeka High (math 11% / reading 20%, grade F, #248 of 327 statewide, top 76%, 1,514 students, 72% FRL).
• Market conditions: Rents rising fast (+4.4%/yr); 131 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $726 of loan paydown is wiped out by about $3k 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 + 4.4% rent growth), your $29k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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 $19k; list at $105k implies a 453% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.10% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.72%
• DSCR: 1.43
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $139,968
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1647 SW 21st St	0.67mi	3/2.0	1,458 (+12%)	6mo	$90,000	$62	42
1193 SW Jewell Ave	0.57mi	4/2.0 (+1)	1,460 (+13%)	11mo	$157,900	$108	38
1665 SW 21st St	0.68mi	2/1.0 (-1)	1,176 (-9%)	18mo	$142,500	$121	29

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 · 4.39% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-229
• Equity at exit: $15,656

10-year hold

• IRR: 10.8%
• Equity multiple: 1.89×
• Total profit: $26,158
• Equity at exit: $9,078

Cash invested: $29,400 (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 66604

• Rents YoY: 4.4%
• Active inventory: 131
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,151 high
• Mortgage (P&I): −$551
• Tax from tax record: −$77 /mo · $920/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $238

Break-even live

Break-even rent $849

Max offer price $105,000

Occupancy floor 74%

Sensitivity live

Price	-10% $298	-5% $268	+0% $238	+5% $208	+10% $179
Rent	-10% $147	-5% $193	+0% $238	+5% $284	+10% $329
Rate	-1.0pp $291	-0.5pp $265	base $238	+0.5pp $211	+1.0pp $183

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1436 SW Byron St Topeka, KS	2.0	1.0	900	$720	$0.80	22d	1	0.08mi
1647 SW Buchanan St Topeka, KS	3.0	2.0	1550	$1,395	$0.90	22d	1	0.25mi
1275 SW Mulvane St Topeka, KS	3.0	1.5	1791	$1,350	$0.75	22d	1	0.30mi
1116 SW 18th St Topeka, KS	3.0	1.0	1105	$1,175	$1.06	22d	1	0.34mi
1900 SW Washburn Ave Topeka, KS	2.0	1.0	883	$890	$1.01	22d	1	0.39mi
1415 SW Western Ave Topeka, KS	4.0	1.0	1190	$1,400	$1.18	22d	1	0.50mi
1936 SW Clay St Topeka, KS	3.0	1.0	1572	$1,000	$0.64	22d	1	0.54mi
1268 SW Western Ave Unit 1A Topeka, KS	2.0	1.0	1404	$1,000	$0.71	22d	1	0.59mi
1624 SW Polk St Topeka, KS	3.0	2.0	1288	$1,350	$1.05	22d	1	0.62mi
2409 SW 21st St Topeka, KS	3.0	1.0	890	$850	$0.96	22d	1	0.86mi
937 SW Jewell Ave Topeka, KS	3.0	1.0	1297	$1,295	$1.00	22d	1	1.00mi
822 SW 8th Ave Topeka, KS	3.0	1.5	1600	$1,025	$0.64	22d	1	1.09mi
1316 SW 27th St Topeka, KS	2.0	2.0	1456	$1,150	$0.79	22d	1	1.11mi
1414 SW 27th St Topeka, KS	2.0	1.0	908	$825	$0.91	22d	1	1.12mi
728 SW Lindenwood Ave Topeka, KS	2.0	1.0	968	$1,195	$1.23	22d	1	1.20mi
416 SW Clay St Topeka, KS	3.0	1.0	1639	$1,025	$0.63	22d	1	1.40mi
520 SW 5th St Topeka, KS	4.0	1.0	1224	$1,250	$1.02	22d	1	1.46mi

Listing history 5 events

1. 2026-06-21
   days on market $105,000 Active 5 DOM
2. 2026-06-19
   days on market $105,000 Active 3 DOM
3. 2026-06-18
   days on market $105,000 Active 2 DOM
4. 2026-06-17
   remarks 449-char remark
5. 2026-06-17
   listed $105,000 Active 1 DOM

ⓘ 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: $920 · $77/mo
• Projected year-2 tax: $1,480 · $123/mo
• Expected delta: +$560/yr (+$47/mo · 60.9%)

ⓘ 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 5/10 Major 7 d/yr ≥107°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: $13,812
• − Mortgage interest: −$5,882
• − Property taxes: −$920
• − Insurance: −$525
• − Repairs & maintenance: −$1,105
• − Management: −$1,105
• − Depreciation: −$3,055
• Taxable income: $1,220
• Est. tax owed @ 24.0%: −$293
• After-tax cash flow: $2,565/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: Topeka Public Schools
• NCES district ID: 2012260
• Math proficiency: 17% ▼ -8.00%
• Reading proficiency: 23% ▼ -2.00%
• Median HH income: $37,405
• Composite: 16.69/100
• National rank: #9167
• State rank: #158 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
• County: Shawnee County · 118,130 people
• City population: 118,130
• Metro: Topeka, KS
• Population (ZIP): 23,006
• Household income: $60,874
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 1192.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 15% Two or more races 11% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1% Other Indo-European 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: ▼ -151.78%
• Current HPI: 227.637
• Rent YoY: ▲ 4.39%
• Metro: Topeka, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+452.6% since first listed

4 events — show timeline

• 2026-06-16 Listed $105,000 Sunflower MLS as distributed by MLS GRID
• 2023-10-08 Rental Removed $915 APPFOLIO
• 2023-09-17 Listed for Rent $915 APPFOLIO
• 1999-04-01 Sold (Public Records) $19,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $920 · +8.9% YoY. Source: county tax records.