10021 W 52nd St · Merriam, KS 66203

$195,000

2 bd · 2.0 ba · 1,180 sqft · Townhouse public records · 61 Days on market

Built 1971 1,095 sqft lot Est $218k · 11% under $130/mo HOA · 7% of rent

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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 +12.8/30.0
• ARV discount +12.3/15.0
• 1% rule +4.0/10.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• 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

Best Value in Merriam, 2 story townhome with finished walkout basement, 100% move in ready, Brand New Carpet, new kitchen counters, new dishwasher, new stove, fresh paint, new LVT floor in bathroom, Large deck in private back yard. rare opportunity for under 100K in JoCo.

Key facts

• $130 HOA
• Built 1971
• Listed 61 days

Property features AI

Finance

• HOA & community: HOA with a $100 monthly fee; HOA covers building maintenance, lawn service, snow removal and trash; Maintenance provided

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Attached townhouse; 2 stories
• Construction: Brick/mortar construction; Composition roof
• Exterior features: Deck; Privacy wood fencing

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range; Refrigerator
• Bedrooms: 2 bedrooms (both on the second floor)
• Flooring: Carpet
• Bathrooms: 1 full bathroom; 2 half bathrooms
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Painted cabinets; Finished basement with walk-out access and sump pump; Eat-in kitchen; Family room / recreation room
• Laundry & utility: Washer; Dryer (laundry located in basement)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $195k.

Deal economics

• At list price, monthly cash flow is $-16 ($-197/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (9.7% below list).
• Recommended offer: $176k (9.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.9% in Merriam — 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 77/100 on livability (#43 in KS, #3,248 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F.
• 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: Merriam Park Elementary (math 29% / reading 39%, grade F, #416 of 684 statewide, top 61%, 431 students, 58% FRL) — zoned schools average 58% FRL vs 29% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 80 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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).

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 61 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $176,134 (9.7% 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 61 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.90% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.36%
• DSCR: 0.98
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $218,300
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5225 Farley Ct	0.17mi	2/1.5	1,256 (+6%)	9mo	$190,000	$151	72
9915 W 52nd St	0.06mi	3/1.5 (+1)	1,210 (+2%)	23mo	$175,000	$145	67
9929 W 52 St	0.04mi	3/2.5 (+1)	1,320 (+12%)	24mo	$200,000	$152	51
9402 W 48th Ter	0.60mi	2/1.5	1,056 (-10%)	3mo	$215,000	$204	50
9354 W 48th Ter	0.64mi	2/1.0	1,056 (-10%)	13mo	$195,000	$185	38
5613 Hayes St	0.67mi	3/2.0 (+1)	1,089 (-8%)	19mo	$240,000	$220	35

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: -16.9%
• Equity multiple: 0.40×
• Total profit: $-32,578
• Equity at exit: $29,075

10-year hold

• IRR: -8.6%
• Equity multiple: 0.46×
• Total profit: $-29,453
• Equity at exit: $16,860

Cash invested: $54,600 (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 66203

• Active inventory: 80
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,761 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$174 /mo · $2,088/yr
• Insurance: −$81
• HOA: −$130
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $-16

Break-even live

Break-even rent $1,782

Max offer price $192,107

Occupancy floor 96%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 11 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	0.34mi
4813 Woodward St Shawnee, KS	3.0	2.0	1050	$1,695	$1.61	3d	1	1.13mi
5938 Barton Dr Shawnee, KS	2.0	2.0	977	$3,250	$3.33	1d	1	1.21mi
6016 Roger Rd Shawnee, KS	2.0	1.0–2.0	951	$1,794	$1.89	1d	3	1.24mi
11221 W 60th St Apt D Shawnee, KS	2.0	1.0	950	$1,295	$1.36	23d	1	1.26mi
10302 W 62nd St Unit B09 Shawnee, KS	2.0	2.0	900	$1,350	$1.50	23d	1	1.27mi
11210 W 60th Ter Unit D Shawnee, KS	2.0	1.0	950	$1,295	$1.36	7d	1	1.28mi
12141 W 55th St Unit 4 Shawnee, KS	2.0	1.0	700	$950	$1.36	7d	1	1.37mi
2633 S 49th St Kansas City, KS	3.0	1.0	816	$1,350	$1.65	7d	1	1.41mi
2550 S 51st St Kansas City, KS	2.0	1.0	744	$1,395	$1.88	20d	1	1.42mi
12029 W 58th Pl Unit K Shawnee, KS	2.0	2.0	796	$1,595	$2.00	23d	1	1.49mi

HOA detail

• Monthly dues: $130 · $1,560/yr

Listing history 23 events

1. 2026-06-18
   days on market $195,000 Active 61 DOM
2. 2026-06-17
   days on market $195,000 Active 60 DOM
3. 2026-06-16
   days on market $195,000 Active 59 DOM
4. 2026-06-15
   days on market $195,000 Active 58 DOM
5. 2026-06-13
   days on market $195,000 Active 56 DOM
6. 2026-06-13
   days on market $195,000 Active 55 DOM
7. 2026-06-09
   days on market $195,000 Active 52 DOM
8. 2026-06-08
   days on market $195,000 Active 51 DOM
9. 2026-06-07
   days on market $195,000 Active 50 DOM
10. 2026-06-05
    pricedays on market $195,000 Active 47 DOM
11. 2026-06-03
    days on market $205,000 Active 46 DOM
12. 2026-06-02
    days on market $205,000 Active 45 DOM
13. 2026-06-01
    days on market $205,000 Active 44 DOM
14. 2026-05-31
    days on market $205,000 Active 43 DOM
15. 2026-05-11
    price $205,000
16. 2026-04-20
    status Active
17. 2026-04-15
    historical
18. 2026-04-13
    listed $210,000 Active
19. 2026-04-13
    historical $210,000
20. 2021-01-27
    soldstatus
21. 2021-01-26
    soldstatus Closed 272-char remark

    Show marketing remark (272 chars)

    Best Value in Merriam, 2 story townhome with finished walkout basement, 100% move in ready, Brand New Carpet, new kitchen counters, new dishwasher, new stove, fresh paint, new LVT floor in bathroom, Large deck in private back yard. rare opportunity for under 100K in JoCo.

22. 2020-12-18
    status Pending 272-char remark

    Show marketing remark (272 chars)

    Best Value in Merriam, 2 story townhome with finished walkout basement, 100% move in ready, Brand New Carpet, new kitchen counters, new dishwasher, new stove, fresh paint, new LVT floor in bathroom, Large deck in private back yard. rare opportunity for under 100K in JoCo.

23. 2020-12-17
    listed $95,000 Active 272-char remark

    Show marketing remark (272 chars)

    Best Value in Merriam, 2 story townhome with finished walkout basement, 100% move in ready, Brand New Carpet, new kitchen counters, new dishwasher, new stove, fresh paint, new LVT floor in bathroom, Large deck in private back yard. rare opportunity for under 100K in JoCo.

ⓘ 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: $2,088 · $174/mo
• Projected year-2 tax: $2,750 · $229/mo
• Expected delta: +$662/yr (+$55/mo · 31.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $21,136
• − Mortgage interest: −$10,923
• − Property taxes: −$2,088
• − Insurance: −$975
• − Repairs & maintenance: −$1,691
• − Management: −$1,691
• − HOA: −$1,560
• − Depreciation: −$5,673
• Taxable loss: −$3,464
• Est. tax savings @ 24.0%: +$831
• After-tax cash flow: $635/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 — Merriam

• Score: 77/100
• State rank: #43
• US rank: #3248

Category grades

Amenities C+ Commute A+ 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: Merriam, KS
• County: Johnson County · 574,662 people
• 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

+115.8% since first listed

9 events — show timeline

• 2026-05-11 Price Changed $205,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-20 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-04-15 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-04-13 Listed $210,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-13 Coming Soon $210,000 Heartland MLS as Distributed by MLS Grid
• 2021-01-27 Sold (Public Records) — Public Records
• 2021-01-26 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2020-12-18 Pending — Heartland MLS as Distributed by MLS Grid
• 2020-12-17 Listed $95,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+9.0%/yr

Latest (2025): $2,088 · +13.3% YoY. Source: county tax records.