3326 SE Massachusetts Ave · Topeka, KS 66605

$80,000

3 bd · 1.0 ba · 900 sqft · SingleFamily public records · 71 Days on market

Built 1955 7,405 sqft lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for sweat equity and this 3 bedroom/ 1 bathroom ranch style home. Close to schools close to Highway access close to shopping. Home is occupied and showings are not allowed.

Key facts

• 7,405 sq ft lot
• Garage
• Built 1955

Property features AI

Finance

• Other: Listing broker: NextHome Professionals
• Financial info: Annual tax amount provided
• HOA & community: HOA details not provided

Exterior

• Parking: 1-car garage
• Security: Security details not provided
• Utilities: Utilities details not provided
• Home design: Single family residence (single house); Residential property
• Construction: Frame construction; Built with composition roof; Above-grade finished area approximately 900
• Exterior features: Lot approximately 0.17 acres; Subdivision: Highland Crest; Property located on the east side of Massachusetts Ave (directions available)

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedroom count not provided
• Flooring: Flooring details not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating and cooling details not provided
• Interior features: Composition roof
• Laundry & utility: Laundry details not provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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: Ross Elementary (math 8% / reading 12%, grade F, #660 of 684 statewide, top 98%, 558 students, 91% FRL); Eisenhower Middle School (math 10% / reading 8%, grade F, #204 of 219 statewide, top 94%, 486 students, 90% FRL); Highland Park High (math 8% / reading 12%, grade F, #306 of 327 statewide, top 95%, 857 students, 85% FRL) — zoned schools average 89% FRL vs 69% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 52 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $553 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.39% ✓
• Cap rate: 10.80%
• Cash-on-cash: 16.10%
• DSCR: 1.72
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $173,700
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3127 SE Michigan Ave	0.60mi	2/1.0 (-1)	960 (+7%)	10mo	$185,000	$193	47

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: 7.1%
• Equity multiple: 1.28×
• Total profit: $6,205
• Equity at exit: $11,928

10-year hold

• IRR: 16.4%
• Equity multiple: 2.35×
• Total profit: $30,171
• Equity at exit: $6,917

Cash invested: $22,400 (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 66605

• Active inventory: 52
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,110 high
• Mortgage (P&I): −$420
• Tax from tax record: −$123 /mo · $1,480/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $300

Break-even live

Break-even rent $729

Max offer price $80,000

Occupancy floor 68%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3317 SE Bryant St Topeka, KS	3.0	1.0	1000	$1,050	$1.05	21d	1	0.17mi
3365 SE Girard St Topeka, KS	2.0	1.0	1023	$950	$0.93	21d	1	0.57mi
2704 SE Massachusetts Ave Topeka, KS	3.0	1.0	936	$950	$1.01	21d	1	0.86mi
1003 SE 26th St Topeka, KS	2.0	1.0	656	$700	$1.07	21d	1	1.03mi
3024 SE Swygart St Apt F Topeka, KS	2.0	1.0	800	$895	$1.12	21d	1	1.10mi
3831 SW South Park Ave Unit 34 Topeka, KS	2.0	2.0	840	$950	$1.13	21d	1	1.15mi
3570 SW Kerry Ave Topeka, KS	3.0	1.0	1080	$1,350	$1.25	21d	1	1.20mi
3423 SW Clare Ave Topeka, KS	3.0	1.0	1030	$1,395	$1.35	21d	1	1.23mi
3635 SW Devon Ave Topeka, KS	3.0	1.0	1118	$1,250	$1.12	21d	1	1.24mi
1400 SW Afton St Topeka, KS	3.0	1.0	1030	$1,075	$1.04	21d	1	1.41mi
1407 SW Glencoe St Topeka, KS	3.0	1.0	1030	$1,295	$1.26	21d	1	1.42mi
2435 SE Colorado Ave Topeka, KS	3.0	1.0	1100	$1,200	$1.09	21d	1	1.43mi

Listing history 9 events

1. 2026-06-10
   days on market $80,000 Active 71 DOM
2. 2026-06-09
   days on market $80,000 Active 70 DOM
3. 2026-06-08
   days on market $80,000 Active 69 DOM
4. 2026-06-07
   days on market $80,000 Active 68 DOM
5. 2026-06-02
   days on market $80,000 Active 63 DOM
6. 2026-06-01
   days on market $80,000 Active 62 DOM
7. 2026-05-31
   days on market $80,000 Active 61 DOM
8. 2026-05-30
   days on market $80,000 Active 60 DOM
9. 2026-03-31
   listed $80,000 Active

ⓘ 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: $1,480 · $123/mo
• Projected year-2 tax: $1,480 · $123/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥108°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: $13,316
• − Mortgage interest: −$4,481
• − Property taxes: −$1,480
• − Insurance: −$400
• − Repairs & maintenance: −$1,065
• − Management: −$1,065
• − Depreciation: −$2,327
• Taxable income: $2,497
• Est. tax owed @ 24.0%: −$599
• After-tax cash flow: $3,006/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): 20,891
• Household income: $59,106
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 490.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Hispanic / Latino 20% Black 13% Two or more races 10%
• Hispanic origin (detail): Mexican 17% Puerto Rican 2%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 9% 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: ▼ -150.37%
• Current HPI: 206.375
• Rent YoY: —
• Metro: Topeka, KS
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-03-31 Listed $80,000 Sunflower MLS as distributed by MLS GRID

Property tax history

+5.2%/yr

Latest (2025): $1,480 · +42.8% YoY. Source: county tax records.