5741 SW 22nd Ter Apt 1 · Topeka, KS 66614

$85,000

1 bd · 1.0 ba · 805 sqft · Townhouse public records · 209 Days on market

Built 1980

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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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here's your chance to own a well loved one owner Condo at the Woods - this condo has a new HVAC system, New Bathroom updates granite counter tops & Walk-in shower. New updated kitchen, New Windows. While doing the listing, I asked the seller about moving after all these years, and she made it clear she loved it there. She enjoyed being able to walk out to the ground level patio with the view of the trees/woods, plus the privacy. She had been there since these Condos were built. At 90 years old, her family convinced her it was best to move though. Be sure to check this one out.

Key facts

• Woodland views
• Updated water heater
• Built 1980

Tags

• MAINTENANCE-FREE CONDOMINIUM
• RECENTLY REPLACED WINDOWS
• UPDATED WATER HEATER
• PICTURESQUE BACK PATIO
• WOODLAND VIEWS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $85k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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-, schools D-, crime F.
• Auburn Washburn (rural): math 34% / reading 42% proficiency, ranked #29 of 169 in KS (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+9.9%/yr); 137 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $588 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 + 8.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 209 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 209 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. 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: 1.31% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.76%
• DSCR: 1.70
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 12.0%
• Equity multiple: 1.50×
• Total profit: $12,015
• Equity at exit: $12,674

10-year hold

• IRR: 24.6%
• Equity multiple: 3.64×
• Total profit: $62,864
• Equity at exit: $7,349

Cash invested: $23,800 (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 66614

• Rents YoY: 9.9%
• Active inventory: 137
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,112 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$85 /mo · $1,020/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $313

Break-even live

Break-even rent $717

Max offer price $85,000

Occupancy floor 67%

Sensitivity live

Price	-10% $361	-5% $337	+0% $313	+5% $288	+10% $264
Rent	-10% $225	-5% $269	+0% $313	+5% $356	+10% $400
Rate	-1.0pp $355	-0.5pp $334	base $313	+0.5pp $291	+1.0pp $268

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2310 SW Fairlawn Rd Topeka, KS	2.0	1.0	912	$1,095	$1.20	21d	1	0.58mi
5237 SW 20th Ter Topeka, KS	2.0	2.0	1050	$1,205	$1.15	21d	1	0.63mi
2937 SW McClure Rd Topeka, KS	2.0	1.0	822	$795	$0.97	21d	1	0.91mi
1618 SW Chelsea Dr Topeka, KS	2.0	1.0	768	$1,045	$1.36	21d	1	0.91mi

Listing history 21 events

1. 2026-06-19
   days on market $85,000 Active 209 DOM
2. 2026-06-18
   days on market $85,000 Active 208 DOM
3. 2026-06-17
   days on market $85,000 Active 207 DOM
4. 2026-06-16
   days on market $85,000 Active 206 DOM
5. 2026-06-15
   days on market $85,000 Active 205 DOM
6. 2026-06-14
   days on market $85,000 Active 203 DOM
7. 2026-06-13
   days on market $85,000 Active 202 DOM
8. 2026-06-10
   days on market $85,000 Active 200 DOM
9. 2026-06-09
   days on market $85,000 Active 199 DOM
10. 2026-06-08
    days on market $85,000 Active 198 DOM
11. 2026-06-07
    days on market $85,000 Active 197 DOM
12. 2026-06-03
    days on market $85,000 Active 193 DOM
13. 2026-06-02
    days on market $85,000 Active 192 DOM
14. 2026-06-01
    days on market $85,000 Active 191 DOM
15. 2026-05-31
    days on market $85,000 Active 190 DOM
16. 2026-05-30
    days on market $85,000 Active 189 DOM
17. 2026-03-13
    soldstatus Closed 589-char remark

    Show marketing remark (589 chars)

    Here's your chance to own a well loved one owner Condo at the Woods - this condo has a new HVAC system, New Bathroom updates granite counter tops & Walk-in shower. New updated kitchen, New Windows. While doing the listing, I asked the seller about moving after all these years, and she made it clear she loved it there. She enjoyed being able to walk out to the ground level patio with the view of the trees/woods, plus the privacy. She had been there since these Condos were built. At 90 years old, her family convinced her it was best to move though. Be sure to check this one out.

18. 2026-03-13
    soldstatus

    Show marketing remark (589 chars)

    Here's your chance to own a well loved one owner Condo at the Woods - this condo has a new HVAC system, New Bathroom updates granite counter tops & Walk-in shower. New updated kitchen, New Windows. While doing the listing, I asked the seller about moving after all these years, and she made it clear she loved it there. She enjoyed being able to walk out to the ground level patio with the view of the trees/woods, plus the privacy. She had been there since these Condos were built. At 90 years old, her family convinced her it was best to move though. Be sure to check this one out.

19. 2026-02-11
    status Pending 589-char remark

    Show marketing remark (589 chars)

    Here's your chance to own a well loved one owner Condo at the Woods - this condo has a new HVAC system, New Bathroom updates granite counter tops & Walk-in shower. New updated kitchen, New Windows. While doing the listing, I asked the seller about moving after all these years, and she made it clear she loved it there. She enjoyed being able to walk out to the ground level patio with the view of the trees/woods, plus the privacy. She had been there since these Condos were built. At 90 years old, her family convinced her it was best to move though. Be sure to check this one out.

20. 2026-01-30
    listed $90,100 Active 589-char remark

    Show marketing remark (589 chars)

    Here's your chance to own a well loved one owner Condo at the Woods - this condo has a new HVAC system, New Bathroom updates granite counter tops & Walk-in shower. New updated kitchen, New Windows. While doing the listing, I asked the seller about moving after all these years, and she made it clear she loved it there. She enjoyed being able to walk out to the ground level patio with the view of the trees/woods, plus the privacy. She had been there since these Condos were built. At 90 years old, her family convinced her it was best to move though. Be sure to check this one out.

21. 2025-11-21
    listed $85,000 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: $1,020 · $85/mo
• Projected year-2 tax: $1,198 · $100/mo
• Expected delta: +$179/yr (+$15/mo · 17.5%)

ⓘ 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 4/10 Moderate
• 🌡 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,347
• − Mortgage interest: −$4,761
• − Property taxes: −$1,020
• − Insurance: −$425
• − Repairs & maintenance: −$1,068
• − Management: −$1,068
• − Depreciation: −$2,473
• Taxable income: $2,533
• Est. tax owed @ 24.0%: −$608
• After-tax cash flow: $3,143/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: Auburn Washburn
• NCES district ID: 2003200
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $71,903
• Composite: 34.91/100
• National rank: #5073
• State rank: #29 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): 32,538
• Household income: $71,377
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 852.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 7% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 3% 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: ▼ -160.56%
• Current HPI: 225.5592
• Rent YoY: ▲ 9.88%
• Metro: Topeka, KS
• State GDP YoY: —
• F500 in state: 0

Price history

+6.0% since first listed

5 events — show timeline

• 2026-03-13 Sold (Public Records) — Public Records
• 2026-03-13 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2026-02-11 Pending — Sunflower MLS as distributed by MLS GRID
• 2026-01-30 Listed $90,100 Sunflower MLS as distributed by MLS GRID
• 2025-11-21 Listed $85,000 Fizber.com

Property tax history

+3.2%/yr

Latest (2025): $1,020 · +3.3% YoY. Source: county tax records.