10406 W 56th Ter · Shawnee, KS 66203

$199,900

3 bd · 1.0 ba · 1,348 sqft · SingleFamily public records · 30 Days on market

Built 1951 8,881 sqft lot Est $291k · 31% under

---

Why this score? — see what drove the C 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 +18.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +4.7/10.0
• Livability +4.4/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NICE HOME FOR THE MONEY. LARGE TREED YARD. NICE DECK OUT BACK TO ABOVE GROUND POOL. NICE FAMILY ROOM OR USE AS LARGE DINING ROOM. 2 BEDROOMS DOWN 1 UP WITH SITTING AREA.

Key facts

• 8,881 sq ft lot
• Built 1951
• Listed 30 days

Property features AI

Finance

• Other: Property listed as a fixer

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; 1.5-story layout; Entry facing not specified
• Construction: Stucco and frame construction; Composition roof; Built approximately 51–75 years ago; No other structures
• Exterior features: Fixer-up condition; Metal fencing; City lot; Paved road with public maintenance

Interior

• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Electric cooling (has central cooling)
• Interior features: Living/dining combo; Crawl space basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/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 $194k (3.0% below list).
• Recommended offer: $194k (3.0% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 3.2% in Shawnee — 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 87/100 on livability (#2 in KS, #276 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+.
• Shawnee Mission Pub Schools (suburban): math 38% / reading 46% proficiency, ranked #22 of 169 in KS (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bluejacket-Flint (math 37% / reading 42%, grade F, #321 of 684 statewide, top 52%, 413 students, 48% FRL) — zoned schools average 48% FRL vs 29% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 80 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,969 units permitted in Johnson County in 2024 (1,066 in 5+ unit buildings).
• This rent runs 31% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Johnson County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y 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.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,962 (3.0% below list)

Questions for the listing agent

1. Built in 1951 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.97% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.08%
• DSCR: 1.18
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $291,168
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9721 W 56th Ter	0.40mi	3/2.0	1,350 (+0%)	1mo	$324,950	$241	76
9719 W 59th Ter	0.56mi	3/1.0	1,328 (-2%)	4mo	$295,000	$222	68
10530 W 59th Ter	0.42mi	3/1.5	1,454 (+8%)	2mo	$299,000	$206	64
11000 W 56th Ter	0.34mi	3/1.0	1,204 (-11%)	4mo	$260,000	$216	63
6017 Mastin St	0.56mi	3/2.0	1,416 (+5%)	1mo	$299,000	$211	61
6001 Melrose Ln	0.47mi	3/1.0	1,492 (+11%)	3mo	$270,000	$181	58
9955 Hocker Dr	0.35mi	3/2.0	1,474 (+9%)	9mo	$330,000	$224	57
5435 Flint St	0.66mi	3/2.0	1,400 (+4%)	4mo	$325,000	$232	55
11223 W 59th St	0.63mi	2/1.0 (-1)	1,259 (-7%)	1mo	$265,000	$210	53
9719 W 53rd St	0.59mi	4/2.0 (+1)	1,248 (-7%)	2mo	$222,500	$178	49
9520 W 59th Ter	0.64mi	3/2.0	1,248 (-7%)	7mo	$339,900	$272	48
5222 Knox Ave	0.65mi	3/2.0	1,234 (-8%)	8mo	$235,000	$190	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.9%
• Equity multiple: 0.64×
• Total profit: $-20,281
• Equity at exit: $29,806

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-2,050
• Equity at exit: $17,284

Cash invested: $55,972 (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 66203

• Active inventory: 80
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,940 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$211 /mo · $2,528/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $190

Break-even live

Break-even rent $1,699

Max offer price $199,900

Occupancy floor 85%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5402 Knox Ave Shawnee, KS	3.0	2.5	1250	$2,450	$1.96	1d	1	0.52mi
5938 Barton Dr Shawnee, KS	2.0	2.0	977	$3,250	$3.33	1d	1	0.65mi
6016 Roger Rd Shawnee, KS	2.0	1.0–2.0	951	$1,794	$1.89	1d	3	0.65mi
11221 W 60th St Apt D Shawnee, KS	2.0	1.0	950	$1,295	$1.36	23d	1	0.70mi
10302 W 62nd St Unit B09 Shawnee, KS	2.0	2.0	900	$1,350	$1.50	23d	1	0.71mi
11210 W 60th Ter Unit D Shawnee, KS	2.0	1.0	950	$1,295	$1.36	7d	1	0.71mi
6101 Nieman Rd Shawnee, KS	2.0	2.0	1590	$2,295	$1.44	1d	1	0.73mi
6115 Nieman Rd Shawnee, KS	2.0	2.0	1590	$2,395	$1.51	7d	1	0.75mi
6527 Reeder St Shawnee, KS	1.0–2.0	1.0–2.0	882	$1,292	$1.46	20d	9	1.30mi
9002 W 64th Ter Merriam, KS	1.0–2.0	1.0–2.0	762	$1,689	$2.22	1d	14	1.39mi

Listing history 20 events

1. 2026-06-15
   status $199,900 Pending 30 DOM
2. 2026-06-13
   days on market $199,900 Active Under Contract 30 DOM
3. 2026-06-13
   days on market $199,900 Active Under Contract 29 DOM
4. 2026-06-09
   days on market $199,900 Active Under Contract 26 DOM
5. 2026-06-08
   days on market $199,900 Active Under Contract 25 DOM
6. 2026-06-07
   days on market $199,900 Active Under Contract 24 DOM
7. 2026-06-05
   days on market $199,900 Active Under Contract 21 DOM
8. 2026-06-03
   days on market $199,900 Active Under Contract 20 DOM
9. 2026-06-02
   days on market $199,900 Active Under Contract 19 DOM
10. 2026-06-01
    days on market $199,900 Active Under Contract 18 DOM
11. 2026-05-31
    days on market $199,900 Active Under Contract 17 DOM
12. 2026-05-18
    historical Active Under Contract
13. 2026-05-15
    listed $199,900 Active
14. 2026-05-13
    historical $199,900
15. 2002-01-29
    soldstatus
16. 2002-01-28
    soldstatus 169-char remark

    Show marketing remark (169 chars)

    NICE HOME FOR THE MONEY. LARGE TREED YARD. NICE DECK OUT BACK TO ABOVE GROUND POOL. NICE FAMILY ROOM OR USE AS LARGE DINING ROOM. 2 BEDROOMS DOWN 1 UP WITH SITTING AREA.

17. 2001-12-05
    listed $99,950 169-char remark

    Show marketing remark (169 chars)

    NICE HOME FOR THE MONEY. LARGE TREED YARD. NICE DECK OUT BACK TO ABOVE GROUND POOL. NICE FAMILY ROOM OR USE AS LARGE DINING ROOM. 2 BEDROOMS DOWN 1 UP WITH SITTING AREA.

18. 1998-12-11
    soldstatus
19. 1998-12-10
    soldstatus 213-char remark

    Show marketing remark (213 chars)

    Super Sharp! Newer Kitchen, Furnace, Ac, Roof, Floor Covering And Paint. Hugh Deck And Nice Pool. Large Treed Yard. 2br Down, 1 Plus Sit Room Or 4th Br Up. Nice Family Room Or Large Dining Rm. Home Shows Great !!

20. 1998-09-14
    listed $89,500 213-char remark

    Show marketing remark (213 chars)

    Super Sharp! Newer Kitchen, Furnace, Ac, Roof, Floor Covering And Paint. Hugh Deck And Nice Pool. Large Treed Yard. 2br Down, 1 Plus Sit Room Or 4th Br Up. Nice Family Room Or Large Dining Rm. Home Shows Great !!

ⓘ 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: $2,528 · $211/mo
• Projected year-2 tax: $2,819 · $235/mo
• Expected delta: +$291/yr (+$24/mo · 11.5%)

ⓘ 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 ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,275
• − Mortgage interest: −$11,198
• − Property taxes: −$2,528
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,862
• − Management: −$1,862
• − Depreciation: −$5,815
• Taxable loss: −$988
• Est. tax savings @ 24.0%: +$237
• After-tax cash flow: $2,518/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: Shawnee Mission Pub Schools
• NCES district ID: 2011640
• Math proficiency: 38% ▼ -6.00%
• Reading proficiency: 46% ▼ -2.00%
• Median HH income: $64,923
• Composite: 37.55/100
• National rank: #4391
• State rank: #22 of 169 in KS

Livability — Shawnee

• Score: 87/100
• State rank: #2
• US rank: #276

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shawnee, KS
• County: Johnson County · 574,662 people
• City population: 60,541
• Metro: Kansas City, MO-KS
• Population (ZIP): 19,441
• Household income: $75,869
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 542.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 663,396 people
• By 2030: 702,585 · +5.9%
• By 2040: 775,386 · +16.9%
• By 2050: 841,772 · +26.9%
• By 2075: 994,137 · +49.9%
• By 2100: 1,073,036 · +61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 7% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 3% Italian 2% Portuguese 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 85% English-only · Spanish 10% Other Asian/Pacific 1% Tagalog/Filipino 1%

Political lean MEDSL · Johnson

• 2024 margin: Lean D (+8.5) · D 53.4% · R 44.9% · Other 1.8%
• 2008→2024 swing: +17.5pp toward D · 2008: -9.0pp · 2024: 8.5pp
• All cycles: 2024: D+8.5 2020: D+8.2 2016: R+2.7 2012: R+17.8 2008: R+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -262.92%
• Current HPI: 269.0762
• Rent YoY: —
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+123.4% since first listed

9 events — show timeline

• 2026-05-18 Contingent — Heartland MLS as Distributed by MLS Grid
• 2026-05-15 Listed $199,900 Heartland MLS as Distributed by MLS Grid
• 2026-05-13 Coming Soon $199,900 Heartland MLS as Distributed by MLS Grid
• 2002-01-29 Sold (Public Records) — Public Records
• 2002-01-28 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2001-12-05 Listed $99,950 Heartland MLS as Distributed by MLS Grid
• 1998-12-11 Sold (Public Records) — Public Records
• 1998-12-10 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 1998-09-14 Listed $89,500 Heartland MLS as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2025): $2,528 · +7.7% YoY. Source: county tax records.