900 2nd St · Lawrence, KS 66073

$329,950

3 bd · 2.5 ba · 1,500 sqft · SingleFamily · 3 Days on market

Built 2026 Excellent condition 7,840 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 +17.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Condition / age +5.0/5.0
• 1% rule +4.8/10.0
• Livability +4.4/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BRAND NEW 2 STORY HOME ON A CORNER LOT WITH A BEAUTIFUL OPEN FLOOR PLAN! This stunning 3 bedroom, 2.5 bath home is move-in ready and designed for comfortable everyday living. The main level features a spacious kitchen with quarts countertops, pantry, and plenty of cabinet space, along with hardwood floors throughout the main living areas. The covered patio provides the perfect place to relax, entertain, or enjoy your morning coffee. Upstairs, the large primary suite offers a walk-in closet and private bath, creating a comfortable retreat at the end of the day. Two additional bedrooms, a full bath, and convenient second-floor laundry complete the upper level. Situated on a desirable corner lot in a great location, this brand-new home offers modern finishes, quality construction, and the opportunity to enjoy worry-free living from day one. Don't miss your chance to make this beautiful home yours!

Key facts

• Open floor plan
• Walk-in closet
• Spacious kitchen

Tags

• CORNER LOT
• OPEN FLOOR PLAN
• SPACIOUS KITCHEN
• GRANITE COUNTERTOPS
• COVERED PATIO
• WALK-IN CLOSET

Property features AI

Finance

• Other: In flood plain: No; Estimated completion within 0–45 days
• HOA & community: No association fees

Exterior

• Parking: Attached garage with front-facing door and opener; 2-car garage
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; Residential property under construction; Two-story floor plan; Estimated living area about 1,500 (per plans)
• Construction: Frame construction with stone veneer accents; Composition roof; Slab foundation; Built within the last 2 years (age description); Builder: RB Custom Homes; Builder provides a 1-year warranty
• Exterior features: Covered patio; Porch; Corner city lot; Located inside city limits; Paved road with public maintenance

Interior

• Kitchen: Granite counters; Pantry; Electric range; Microwave; Dishwasher; Garbage disposal
• Bedrooms: 3 bedrooms total; Primary bedroom located on the second floor; Secondary bedrooms on the second floor with carpet and ceiling fans
• Flooring: Carpet; Luxury vinyl; Wood flooring
• Bathrooms: 2 full bathrooms; 1 half bathroom; Bathroom with double vanity, granite counters, shower (primary); Bathroom with granite counters and shower over tub
• Heating & cooling: Forced air heating (natural gas); Electric central cooling
• Interior features: Ceiling fans throughout; Pantry; Walk-in closets; Thermal windows; Fireplace in the living room
• Laundry & utility: Second-floor laundry room with vinyl flooring

🏗️ New construction. The $329,950 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $280,500.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $330k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• To cash-flow at today's rent, offer at most $314k (4.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $274k (16.8% below list).
• Recommended offer: $274k (16.8% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 2.7% in Lawrence — 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 88/100 on livability (#1 in KS, #237 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime D-.
• Lawrence (urban): math 31% / reading 44% proficiency, ranked #46 of 169 in KS (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 25 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 246 units permitted in Douglas County in 2024 (38 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Douglas County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $274,382 (16.8% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Crime grade is D 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?
3. 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.
4. 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.
5. 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: 0.98% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.50%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $280,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
619 W 4th St	0.33mi	3/2.0	1,456 (-3%)	3mo	$272,530	$187	75
1515 Pinewood Dr	0.47mi	3/1.5	1,540 (+3%)	8mo	$89,900	$58	63
238 Michigan St	0.34mi	3/2.0	1,684 (+12%)	2mo	$249,900	$148	60
1503 W 2nd St	0.41mi	3/1.0	1,454 (-3%)	13mo	$239,000	$164	59
214 Alabama St	0.08mi	3/2.0	1,685 (+12%)	20mo	$284,900	$169	57
1623 W 3rd St	0.53mi	3/1.5	1,440 (-4%)	10mo	$295,000	$205	56
505 Mississippi St	0.45mi	4/2.0 (+1)	1,647 (+10%)	5mo	$310,000	$188	52
633 Alabama St	0.66mi	3/1.5	1,384 (-8%)	2mo	$340,000	$246	50
1618 Northwood Dr	0.51mi	4/2.0 (+1)	1,596 (+6%)	14mo	$169,900	$106	47
313 Elm St	0.72mi	3/1.5	1,459 (-3%)	15mo	$359,000	$246	45
204 N Minnesota St	0.49mi	3/1.0	1,296 (-14%)	14mo	$234,500	$181	36
640 Indiana St	0.68mi	3/2.0	1,715 (+14%)	13mo	$399,000	$233	32

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: -10.8%
• Equity multiple: 0.61×
• Total profit: $-30,817
• Equity at exit: $41,823

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-7,874
• Equity at exit: $24,253

Cash invested: $78,540 (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 66073

• Home prices YoY: -8.6%
• Active inventory: 25
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,744 medium
• Mortgage (P&I): −$1,471
• Tax est. 1.5%: −$351 /mo · $4,208/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $229

Break-even live

Break-even rent $2,454

Max offer price $280,500

Occupancy floor 87%

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: $70,125
• Closing costs: $8,415
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 Missouri St Lawrence, KS	4.0	4.0	1580	$3,600	$2.28	7d	1	0.97mi
2305 Brett Dr Lawrence, KS	3.0	2.0	1340	$1,650	$1.23	14d	1	1.16mi

Listing history 4 events

1. 2026-06-19
   days on market $329,950 Active 3 DOM
2. 2026-06-18
   days on market $329,950 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $329,950 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $32,926
• − Mortgage interest: −$15,712
• − Property taxes: −$4,208
• − Insurance: −$1,402
• − Repairs & maintenance: −$2,634
• − Management: −$2,634
• − Depreciation: −$8,160
• Taxable loss: −$1,825
• Est. tax savings @ 24.0%: +$438
• After-tax cash flow: $3,188/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 · 13 photos

Excellent 100/100 None rehab

This brand new 2-story home on a corner lot is move-in ready and designed for comfortable everyday living. The house has a spacious kitchen, two bathrooms, and a large primary suite with a walk-in closet and private bath. The exterior is painted white and has a well-maintained lawn. The interior walls are painted white and the flooring is hardwood. The HVAC and mechanical systems appear to be in good condition. The house is in excellent condition and is ready for immediate occupancy.

Value-add opportunities

• Resale Painting the exterior walls — Painting the exterior walls can enhance the curb appeal and make the house stand out in the neighborhood.
• Rental Landscaping the front yard — A well-maintained front yard can attract more tenants and make the property more appealing.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior walls — Painting the exterior walls can enhance the curb appeal and make the house stand out in the neighborhood. ↑
• Rental Landscaping the front yard — A well-maintained front yard can attract more tenants and make the property more appealing. ↑

ⓘ 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: Lawrence
• NCES district ID: 2008400
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 44% ▬ 0.00%
• Median HH income: $46,259
• Composite: 32.02/100
• National rank: #5826
• State rank: #46 of 169 in KS

Livability — Lawrence

• Score: 88/100
• State rank: #1
• US rank: #237

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lawrence, KS
• City population: 100,966
• Population (ZIP): 2,381

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 136,863 people
• By 2030: 147,255 · +7.6%
• By 2040: 167,760 · +22.6%
• By 2050: 190,593 · +39.3%
• By 2075: 253,850 · +85.5%
• By 2100: 314,741 · +130.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 5% Two or more races 5% Black 2%
• Common ancestry: Italian 3% Iranian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Douglas

• 2024 margin: Solid D (+38.0) · D 68.2% · R 30.2% · Other 1.6%
• 2008→2024 swing: +7.2pp toward D · 2008: 30.8pp · 2024: 38.0pp
• All cycles: 2024: D+38.0 2020: D+39.5 2016: D+32.7 2012: D+23.7 2008: D+30.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.51%
• Current HPI: 219.277
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

2 events — show timeline

• 2026-06-16 Listed $329,950 Lawrence MLS as distributed by MLS GRID
• 2026-06-16 Listed $329,950 Heartland MLS as Distributed by MLS Grid