915 SW Munson Ave · Topeka, KS 66604

$150,000

5 bd · 2.5 ba · 3,350 sqft · SingleFamily public records · 88 Days on market

Built 1887 5,227 sqft lot

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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 +23.4/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• 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

Built in 1887. The grand old home offers a lot of potential to the right buyer! 6 bedrooms, 2 full baths and a oversized single garage.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1887

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single Family Residence (single house); Residential property
• Construction: Frame construction; Composition roof; Above-grade finished living area reported
• Exterior features: Wood fencing; Lot roughly 54 x 100

Interior

• Bedrooms: Laundry on main level and upper level
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Window unit(s) for cooling
• Interior features: Hardwood floors; Gas water heater; Basement
• Laundry & utility: Laundry located on main level and upper level

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: Lowman Hill Elem (math 17% / reading 22%, grade F, #593 of 684 statewide, top 89%, 308 students, 88% 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; 219 units permitted in Shawnee County in 2024 (25 in 5+ unit buildings).
• This rent runs 34% of the median local income ($61k/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 $4k 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 88 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 13 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.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $141,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 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 1887 — 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: 1.15% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.96%
• DSCR: 1.35
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.39% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.90×
• Total profit: $-4,079
• Equity at exit: $22,365

10-year hold

• IRR: 8.7%
• Equity multiple: 1.71×
• Total profit: $29,801
• Equity at exit: $12,969

Cash invested: $42,000 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,721 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$232 /mo · $2,783/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $278

Break-even live

Break-even rent $1,368

Max offer price $150,000

Occupancy floor 79%

Sensitivity live

Price	-10% $363	-5% $321	+0% $278	+5% $236	+10% $194
Rent	-10% $143	-5% $210	+0% $278	+5% $346	+10% $414
Rate	-1.0pp $354	-0.5pp $317	base $278	+0.5pp $240	+1.0pp $200

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $150,000 Active 88 DOM
2. 2026-06-19
   days on market $150,000 Active 86 DOM
3. 2026-06-18
   days on market $150,000 Active 85 DOM
4. 2026-06-17
   days on market $150,000 Active 84 DOM
5. 2026-06-16
   days on market $150,000 Active 83 DOM
6. 2026-06-15
   days on market $150,000 Active 82 DOM
7. 2026-06-14
   days on market $150,000 Active 80 DOM
8. 2026-06-13
   days on market $150,000 Active 79 DOM
9. 2026-06-10
   days on market $150,000 Active 77 DOM
10. 2026-06-09
    days on market $150,000 Active 76 DOM
11. 2026-06-08
    days on market $150,000 Active 75 DOM
12. 2026-06-07
    days on market $150,000 Active 74 DOM
13. 2026-06-02
    days on market $150,000 Active 69 DOM
14. 2026-06-01
    days on market $150,000 Active 68 DOM
15. 2026-05-31
    days on market $150,000 Active 67 DOM
16. 2026-05-30
    days on market $150,000 Active 66 DOM
17. 2026-03-25
    listed $150,000 Active
18. 2023-08-27
    status Active
19. 2023-08-21
    historical
20. 2023-07-25
    price $145,000
21. 2023-07-10
    listed $160,000 Active
22. 2016-02-12
    listed $20,000
23. 2015-12-04
    listed $47,000
24. 2015-11-05
    listed $52,000
25. 2015-09-29
    listed $69,000
26. 2015-08-11
    listed $85,000
27. 2015-03-12
    listed $90,000
28. 2014-09-10
    listed $115,000
29. 2014-09-10
    listed $115,000
30. 2014-07-25
    listed $127,900
31. 2014-04-22
    listed $127,900
32. 2000-12-05
    soldstatus $138,700

ⓘ 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: $2,783 · $232/mo
• Projected year-2 tax: $2,783 · $232/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 15 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: $20,650
• − Mortgage interest: −$8,402
• − Property taxes: −$2,783
• − Insurance: −$750
• − Repairs & maintenance: −$1,652
• − Management: −$1,652
• − Depreciation: −$4,364
• Taxable income: $1,047
• Est. tax owed @ 24.0%: −$251
• After-tax cash flow: $3,090/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

+8.1% since first listed

16 events — show timeline

• 2026-03-25 Listed $150,000 Sunflower MLS as distributed by MLS GRID
• 2023-08-27 Relisted — Sunflower MLS as distributed by MLS GRID
• 2023-08-21 Delisted — Sunflower MLS as distributed by MLS GRID
• 2023-07-25 Price Changed $145,000 Sunflower MLS as distributed by MLS GRID
• 2023-07-10 Listed $160,000 Sunflower MLS as distributed by MLS GRID
• 2016-02-12 Listed $20,000 Sunflower MLS as distributed by MLS GRID
• 2015-12-04 Listed $47,000 Sunflower MLS as distributed by MLS GRID
• 2015-11-05 Listed $52,000 Sunflower MLS as distributed by MLS GRID
• 2015-09-29 Listed $69,000 Sunflower MLS as distributed by MLS GRID
• 2015-08-11 Listed $85,000 Sunflower MLS as distributed by MLS GRID
• 2015-03-12 Listed $90,000 Sunflower MLS as distributed by MLS GRID
• 2014-09-10 Listed $115,000 Sunflower MLS as distributed by MLS GRID
• 2014-09-10 Listed $115,000 Sunflower MLS as distributed by MLS GRID
• 2014-07-25 Listed $127,900 Sunflower MLS as distributed by MLS GRID
• 2014-04-22 Listed $127,900 Sunflower MLS as distributed by MLS GRID
• 2000-12-05 Sold (Public Records) $138,700 Public Records

Property tax history

+0.4%/yr

Latest (2025): $2,783 · -16.2% YoY. Source: county tax records.