3449 SE Ohio Ave · Topeka, KS 66605

$107,500

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 59 Days on market

Built 1952 9,148 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 +17.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 1% rule +3.5/10.0
• 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

Back on the market, at no fault to the sellers. ---| Move-In Ready & Fully Remodeled! |--- This charming 2-bed, 1-bath home sits on a large corner lot, giving you plenty of space to relax, garden, or simply enjoy the outdoors. Inside and out, this home has been thoughtfully updated so you can settle in with confidence. Step inside to find new flooring, fresh interior and exterior paint, with a bright, modern feel throughout. The home features all-new electrical, including updated lights, fans, smoke detectors, and vents. The plumbing was replaced in 2024, and the new mini-split HVAC system (2025) keeps the home comfortable year-round. You’ll also appreciate the new water heater

Key facts

• Large corner lot
• New flooring
• Updated lights

Tags

• LARGE CORNER LOT
• NEW FLOORING
• FRESH INTERIOR PAINT
• FRESH EXTERIOR PAINT
• ALL-NEW ELECTRICAL
• UPDATED LIGHTS

Property features AI

Finance

• Other: Listed by RE/MAX EK Real Estate

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Wood siding construction; 720 sq. ft. above-grade finished area
• Exterior features: Corner lot; Lot approximately 100' x 94' (0.21 acre)

Interior

• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Electric water heater; Crawl space basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $108k.

Deal economics

• At list price, monthly cash flow is $75 ($898/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $91k (15.0% below list).
• Recommended offer: $91k (15.0% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: 54 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $743 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.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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 $5k; list at $108k implies a 2050% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $91,350 (15.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.85% ✗
• Cap rate: 7.13%
• Cash-on-cash: 2.98%
• DSCR: 1.13
• GRM: 9.8

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: -11.6%
• Equity multiple: 0.58×
• Total profit: $-12,700
• Equity at exit: $16,029

10-year hold

• IRR: -2.5%
• Equity multiple: 0.83×
• Total profit: $-5,108
• Equity at exit: $9,295

Cash invested: $30,100 (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: 54
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $914 medium
• Mortgage (P&I): −$564
• Tax from tax record: −$38 /mo · $460/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $75

Break-even live

Break-even rent $819

Max offer price $107,500

Occupancy floor 87%

Sensitivity live

Price	-10% $136	-5% $105	+0% $75	+5% $44	+10% $14
Rent	-10% $3	-5% $39	+0% $75	+5% $111	+10% $147
Rate	-1.0pp $129	-0.5pp $102	base $75	+0.5pp $47	+1.0pp $19

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: $26,875
• Closing costs: $3,225
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1003 SE 26th St Topeka, KS	2.0	1.0	656	$700	$1.07	23d	1	1.07mi

Listing history 21 events

1. 2026-06-21
   days on market $107,500 Active 59 DOM
2. 2026-06-19
   days on market $107,500 Active 57 DOM
3. 2026-06-18
   days on market $107,500 Active 56 DOM
4. 2026-06-17
   days on market $107,500 Active 55 DOM
5. 2026-06-16
   days on market $107,500 Active 54 DOM
6. 2026-06-15
   days on market $107,500 Active 53 DOM
7. 2026-06-14
   days on market $107,500 Active 51 DOM
8. 2026-06-13
   days on market $107,500 Active 50 DOM
9. 2026-06-10
   days on market $107,500 Active 48 DOM
10. 2026-06-09
    days on market $107,500 Active 47 DOM
11. 2026-06-08
    days on market $107,500 Active 46 DOM
12. 2026-06-07
    days on market $107,500 Active 45 DOM
13. 2026-06-02
    days on market $107,500 Active 40 DOM
14. 2026-06-01
    days on market $107,500 Active 39 DOM
15. 2026-05-31
    days on market $107,500 Active 38 DOM
16. 2026-05-30
    days on market $107,500 Active 37 DOM
17. 2026-05-01
    status Active
18. 2026-04-09
    status Pending
19. 2026-03-31
    listed $109,500 Active
20. 2014-04-17
    listed $23,900
21. 1994-12-01
    soldstatus $5,000

ⓘ 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: $460 · $38/mo
• Projected year-2 tax: $1,516 · $126/mo
• Expected delta: +$1,056/yr (+$88/mo · 229.6%)

ⓘ 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 3/10 Moderate
• 🌡 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: $10,962
• − Mortgage interest: −$6,022
• − Property taxes: −$460
• − Insurance: −$538
• − Repairs & maintenance: −$877
• − Management: −$877
• − Depreciation: −$3,127
• Taxable loss: −$938
• Est. tax savings @ 24.0%: +$225
• After-tax cash flow: $1,123/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

+2090.0% since first listed

5 events — show timeline

• 2026-05-01 Relisted — Sunflower MLS as distributed by MLS GRID
• 2026-04-09 Pending — Sunflower MLS as distributed by MLS GRID
• 2026-03-31 Listed $109,500 Sunflower MLS as distributed by MLS GRID
• 2014-04-17 Listed $23,900 Sunflower MLS as distributed by MLS GRID
• 1994-12-01 Sold (Public Records) $5,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $460 · +7.8% YoY. Source: county tax records.