829/831 SE 14th St · Topeka, KS 66607

$145,000

None bd · None ba · — sqft · MultiFamily · 96 Days on market

Built 1962 Fair condition 0.93 ac 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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Appreciation +4.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.7/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Each side is a 2 Bedroom with 1 bath on crawl space. Each side is 768 sq ft. Home is vinyl sided. 5 buildings all together. Flood insurance is required if financed.

Key facts

• 0.93 acre lot
• 4 parking spots
• Built 1962

Property features AI

Exterior

• Parking: 4 parking spaces
• Utilities: Public water; Public sewer
• Home design: Residential income property (multi-family 2–4 units)
• Construction: Vinyl siding
• Exterior features: Paved parking areas; Lot dimensions approximately 308 x 132 (0.93 acre); Zoned R-2 Single Family

Interior

• Kitchen: Range; Refrigerator
• Heating & cooling: Central heating; Electric cooling; Window air conditioning units
• Interior features: Refrigerator and range included; Central heating; Electric cooling with window units

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $145k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-76 ($-913/yr) — negative. Per door: $-38/mo.
• To cash-flow at today's rent, offer at most $134k (7.6% below list).
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: Scott Dual Language Magnet (math 22% / reading 17%, grade F, #593 of 684 statewide, top 89%, 391 students, 87% FRL); Eisenhower Middle School (math 10% / reading 8%, grade F, #204 of 219 statewide, top 94%, 486 students, 90% FRL); Topeka High (math 11% / reading 20%, grade F, #248 of 327 statewide, top 76%, 1,514 students, 72% FRL).
• Market conditions: 22 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 219 units permitted in Shawnee County in 2024 (25 in 5+ unit buildings).

Forward outlook

• In year one you build about $640 of equity ($1k loan paydown + $-362 appreciation (-0.2% local appreciation)).
• 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 96 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,950 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
6. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
7. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
8. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
9. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
10. 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?
11. 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?
12. 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.
13. 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.
14. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.36%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.25% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.74×
• Total profit: $-10,497
• Equity at exit: $40,301

10-year hold

• IRR: 0.7%
• Equity multiple: 1.07×
• Total profit: $2,917
• Equity at exit: $47,027

Cash invested: $40,600 (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 66607

• Home prices YoY: -0.1%
• Active inventory: 22
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $1,712 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $-76

Break-even live

Break-even rent $1,808

Max offer price $133,985

Occupancy floor 99%

Sensitivity live

Price	-10% $24	-5% $-26	+0% $-76	+5% $-126	+10% $-176
Rent	-10% $-211	-5% $-144	+0% $-76	+5% $-9	+10% $59
Rate	-1.0pp $-3	-0.5pp $-39	base $-76	+0.5pp $-114	+1.0pp $-152

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,712
Total (2 units)			$1,712

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1724 SE Pennsylvania Ave Unit B Topeka, KS	2.0	1.0	960	$850	$0.89	23d	1	0.40mi
600 SE Madison St Topeka, KS	2.0	1.0	—	$950	—	23d	1	0.83mi
1110 SE Powell St Topeka, KS	2.0	1.5	765	$695	$0.91	23d	1	0.83mi
1110 SE Powell St Unit 12-2169 Topeka, KS	3.0	1.5	909	$980	$1.08	23d	1	0.87mi
1438 SW Van Buren St Apt 3 Topeka, KS	2.0	1.0	—	$775	—	23d	1	0.89mi
1438 SW Van Buren St Unit 1 Topeka, KS	1.0	1.0	—	$775	—	23d	1	0.89mi
1438 SW Van Buren St Apt 4 Topeka, KS	2.0	1.0	700	$825	$1.18	23d	1	0.89mi
2316 SE Ohio Ave Topeka, KS	3.0	1.0	—	$1,350	—	23d	1	0.94mi
1307 SW Harrison St Topeka, KS	1.0	1.0	585	$718	$1.23	23d	1	1.01mi
1307 SW Harrison St Unit 1301 B33 Topeka, KS	1.0	1.0	585	$742	$1.27	23d	1	1.03mi
1307 SW Harrison St Unit 1301 C31 Topeka, KS	1.0	1.0	585	$749	$1.28	23d	1	1.03mi
1252 SW Topeka Blvd Unit B Topeka, KS	1.0	1.0	—	$845	—	23d	1	1.10mi
1252 SW Topeka Blvd Topeka, KS	1.0	1.0	—	$895	—	23d	1	1.10mi
512 SW 14th St Topeka, KS	2.0	1.0	815	$895	$1.10	23d	1	1.11mi
1251 SW Topeka Blvd Topeka, KS	1.0	1.0	—	$750	—	23d	1	1.14mi
1300 SW Tyler St Topeka, KS	1.0	1.0	550	$590	$1.07	23d	1	1.16mi
1624 SW Polk St Topeka, KS	3.0	2.0	1288	$1,350	$1.05	23d	1	1.23mi
501 SE 25th St Topeka, KS	3.0	1.5	1200	$1,295	$1.08	23d	1	1.23mi
1001 NE Atchison Ave Topeka, KS	2.0	1.0	689	$809	$1.17	23d	19	1.24mi
2435 SE Colorado Ave Topeka, KS	3.0	1.0	1100	$1,200	$1.09	23d	1	1.25mi
1003 SE 26th St Topeka, KS	2.0	1.0	656	$700	$1.07	23d	1	1.28mi
837 SW Tyler St Unit 827-Unit 19 Topeka, KS	1.0	1.0	505	$662	$1.31	23d	1	1.29mi
837 SW Tyler St Topeka, KS	1.0	1.0	505	$686	$1.36	23d	1	1.29mi
603 SW Topeka Blvd Topeka, KS	1.0	1.0	710	$700	$0.99	23d	1	1.31mi
1205 SW Polk St Topeka, KS	1.0	1.0	415	$686	$1.65	23d	1	1.32mi
1125 SW Polk St Topeka, KS	1.0	1.0	670	$725	$1.08	23d	2	1.32mi
507 SW 6th Ave Unit 001 Topeka, KS	1.0	1.0	710	$700	$0.99	23d	1	1.33mi
1268 SW Western Ave Unit 1A Topeka, KS	2.0	1.0	1404	$1,000	$0.71	23d	1	1.34mi
2351 SE Bellview Ave Topeka, KS	1.0–3.0	1.0–1.5	1132	$1,105	$0.98	23d	1	1.39mi
721 SW Polk St Topeka, KS	2.0	1.0	691	$599	$0.87	23d	1	1.41mi
1256 SW Fillmore St Topeka, KS	1.0	1.0	—	$495	—	23d	1	1.42mi
925 SW Huntoon St Topeka, KS	1.0	1.0	—	$695	—	23d	1	1.43mi
2704 SE Massachusetts Ave Topeka, KS	3.0	1.0	936	$950	$1.01	23d	1	1.45mi
101 N Kansas Ave Topeka, KS	2.0	1.0	1009	$1,325	$1.31	23d	3	1.45mi

Listing history 20 events

1. 2026-06-21
   days on market $145,000 Active 96 DOM
2. 2026-06-19
   days on market $145,000 Active 94 DOM
3. 2026-06-18
   days on market $145,000 Active 93 DOM
4. 2026-06-17
   days on market $145,000 Active 92 DOM
5. 2026-06-16
   days on market $145,000 Active 91 DOM
6. 2026-06-15
   days on market $145,000 Active 90 DOM
7. 2026-06-14
   days on market $145,000 Active 88 DOM
8. 2026-06-13
   days on market $145,000 Active 87 DOM
9. 2026-06-10
   days on market $145,000 Active 85 DOM
10. 2026-06-09
    days on market $145,000 Active 84 DOM
11. 2026-06-08
    days on market $145,000 Active 83 DOM
12. 2026-06-07
    days on market $145,000 Active 82 DOM
13. 2026-06-02
    days on market $145,000 Active 77 DOM
14. 2026-06-01
    days on market $145,000 Active 76 DOM
15. 2026-05-31
    days on market $145,000 Active 75 DOM
16. 2026-05-30
    days on market $145,000 Active 74 DOM
17. 2026-03-17
    listed $145,000 Active
18. 2024-04-29
    soldstatus Closed 164-char remark

    Show marketing remark (164 chars)

    Each side is a 2 Bedroom with 1 bath on crawl space. Each side is 768 sq ft. Home is vinyl sided. 5 buildings all together. Flood insurance is required if financed.

19. 2024-01-30
    status Pending 164-char remark

    Show marketing remark (164 chars)

    Each side is a 2 Bedroom with 1 bath on crawl space. Each side is 768 sq ft. Home is vinyl sided. 5 buildings all together. Flood insurance is required if financed.

20. 2024-01-24
    listed $110,000 Active 164-char remark

    Show marketing remark (164 chars)

    Each side is a 2 Bedroom with 1 bath on crawl space. Each side is 768 sq ft. Home is vinyl sided. 5 buildings all together. Flood insurance is required if financed.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 24% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,544
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$5,844
• − Repairs & maintenance: −$1,644
• − Management: −$1,644
• − Depreciation: −$4,218
• Taxable loss: −$3,102
• Est. tax savings @ 24.0%: +$744
• After-tax cash flow: $-169/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This two-unit duplex requires moderate renovations to update the kitchen and bathrooms, and minor repairs to the exterior siding. The property has good potential for increased value with these updates.

Repairs flagged

• Major kitchen appliances — need to replace outdated appliances
• Major bathroom fixtures — need to update dated fixtures
• Minor exterior siding — some discoloration

Value-add opportunities

• Resale update kitchen appliances — modern appliances attract more buyers
• Resale update bathroom fixtures — modern fixtures improve appeal
• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics
• Both replace missing window screens — functional and aesthetic improvement

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · need to replace outdated appliances	Major	$15,000–50,000
bathroom fixtures · need to update dated fixtures	Major	$15,000–50,000
exterior siding · some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Resale update kitchen appliances — modern appliances attract more buyers ↑
• Resale update bathroom fixtures — modern fixtures improve appeal ↑
• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace missing window screens — functional and aesthetic improvement ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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
• City population: 118,130
• Population (ZIP): 9,873

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 0.67)
• Race & ethnicity: Hispanic / Latino 43% White 32% Black 20% Two or more races 16% Native American 1%
• Hispanic origin (detail): Mexican 38% Puerto Rican 2% Cuban 1%
• Common ancestry: Lithuanian 2% Iranian 1%
• Foreign-born: 12% · Canada, Dominican Republic
• Languages at home: 76% English-only · Spanish 23%

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: ▼ -0.25%
• Current HPI: 171.7381
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+31.8% since first listed

4 events — show timeline

• 2026-03-17 Listed $145,000 Sunflower MLS as distributed by MLS GRID
• 2024-04-29 Sold (MLS) — Sunflower MLS as distributed by MLS GRID
• 2024-01-30 Pending — Sunflower MLS as distributed by MLS GRID
• 2024-01-24 Listed $110,000 Sunflower MLS as distributed by MLS GRID