3909 Scarritt Ave · Kansas City, MO 64123

$395,000

6 bd · 6.0 ba · 4,752 sqft · MultiFamily public records · 6 Days on market

Built 1916 7,843 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 +23.9/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Attention investors! The Scarritt Ave Apartments in the Historic Northeast is a nice value add opportunity at a great price point. 2 of 6 units are currently occupied with the remaining units vacant and boarded up. Each one bedroom unit shares a common front entry hallway and a back staircase. With a rear parking lot, a car port and on street parking tenants have options! With submetered utilities (except water), it's poised for efficiency and profitability. The location offers tenants unbeatable city accessibility, making this an ideal project for savvy investors. Priced for its current condition. Don't miss out on this opportunity!

Key facts

• Rear parking lot
• Submetered utilities
• Car port

Tags

• REAR PARKING LOT
• CAR PORT
• ON STREET PARKING
• SUBMETERED UTILITIES
• COMMON FRONT ENTRY HALLWAY
• BACK STAIRCASE

Property features AI

Finance

• Financial info: Gross income reported at $101,280; Operating expenses include real estate tax
• HOA & community: No association fees

Exterior

• Parking: Carport; Off-street parking; Has garage
• Utilities: Public water; Public sewer; Master meters and separate meters
• Home design: Residential income property (apartment); Multi zoning; 3-story building
• Construction: Brick and wood siding exterior; Synthetic roof
• Exterior features: Not in a flood plain; Lot recorded at 7,843 square feet (public records)

Interior

• Bedrooms: One-bedroom unit types (six 1-bedroom units)
• Bathrooms: One bathroom in each 1-bedroom unit
• Heating & cooling: Natural gas heating; Electric cooling
• Interior features: Basement present; Laundry located in the basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $395k.

Deal economics

• At list price, monthly cash flow is $765 ($9k/yr) — positive. Per door: $383/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $395k).
• Cap rate 8.6% vs local median 3.9% in Kansas City — 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 78/100 on livability (#28 in MO, #2,671 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, crime F.
• Kansas City 33 (urban): math 12% / reading 24% proficiency, ranked #308 of 324 in MO (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 59 active listings in the ZIP; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $4,164/mo this rent would consume 92% of the median local household income ($54k/yr) (locally 338% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 23y 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 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $395,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.05% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.31%
• DSCR: 1.37
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.7%
• Equity multiple: 0.86×
• Total profit: $-15,316
• Equity at exit: $58,896

10-year hold

• IRR: 6.0%
• Equity multiple: 1.44×
• Total profit: $49,185
• Equity at exit: $34,152

Cash invested: $110,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 81 Strongly Landlord-Friendly
• State Missouri: 81 Strongly Landlord-Friendly · R+10
• County: — inherits STATE
• City: — inherits STATE

Generally landlord-friendly; St Louis has some habitability requirements.

Methodology + full state rankings →

ZIP-level market 64123

• Home prices YoY: -8.3%
• Active inventory: 59
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $4,164 medium
• Mortgage (P&I): −$2,071
• Tax from tax record: −$288 /mo · $3,457/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$874
• Net cashflow: $765

Break-even live

Break-even rent $3,195

Max offer price $395,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$4,164
Total (2 units)			$4,164

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $395,000 Active 6 DOM
2. 2026-06-17
   days on market $395,000 Active 5 DOM
3. 2026-06-16
   days on market $395,000 Active 4 DOM
4. 2026-06-15
   days on market $395,000 Active 3 DOM
5. 2026-06-13
   remarks 641-char remark
6. 2026-06-13
   listed $395,000 Active 1 DOM

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

Tax reassessment forecast MO · Resets to sale price

• Current annual tax: $3,457 · $288/mo
• Projected year-2 tax: $3,832 · $319/mo
• Expected delta: +$375/yr (+$31/mo · 10.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,968
• − Mortgage interest: −$22,126
• − Property taxes: −$3,457
• − Insurance: −$1,975
• − Repairs & maintenance: −$3,997
• − Management: −$3,997
• − Depreciation: −$11,491
• Taxable income: $2,924
• Est. tax owed @ 24.0%: −$702
• After-tax cash flow: $8,484/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: Kansas City 33
• NCES district ID: 2916400
• Math proficiency: 12% ▼ -8.00%
• Reading proficiency: 24% ▬ 0.00%
• Median HH income: $35,227
• Composite: 14.8/100
• National rank: #9387
• State rank: #308 of 324 in MO

Livability — Kansas City

• Score: 78/100
• State rank: #28
• US rank: #2671

Category grades

Amenities A+ 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: Kansas City, MO
• County: Jackson County · 687,798 people
• City population: 439,467
• Metro: Kansas City, MO-KS
• Population (ZIP): 11,833
• Household income: $54,443
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 338.0

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 719,589 people
• By 2030: 731,456 · +1.6%
• By 2040: 746,689 · +3.8%
• By 2050: 749,289 · +4.1%
• By 2075: 736,227 · +2.3%
• By 2100: 668,210 · -7.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Hispanic / Latino 48% White 34% Two or more races 25% Black 10% Asian 5% Native American 2%
• Hispanic origin (detail): Mexican 37% Puerto Rican 1% Cuban 3%
• Common ancestry: Italian 2% Arab 2% Romanian 1%
• Foreign-born: 22% · Canada, Vietnam, Philippines
• Languages at home: 58% English-only · Spanish 35% Arabic 2% Vietnamese 1%

Political lean MEDSL · Jackson

• 2024 margin: D (+19.3) · D 58.9% · R 39.5% · Other 1.6%
• 2008→2024 swing: -6.1pp toward R · 2008: 25.4pp · 2024: 19.3pp
• All cycles: 2024: D+19.3 2020: D+22.0 2016: D+16.6 2012: D+19.0 2008: D+25.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.35%
• Current HPI: 392.4402
• Rent YoY: —
• Metro: Kansas City, MO-KS
• State GDP YoY: ▲ 1.84%
• F500 in state: 20

Industry mix (Fortune 500 HQ in MO)

Industry	F500 HQs	Revenue
▸Healthcare	1	$163B
▸Insurance	1	$21B
▸Industrial Technology	1	$17B
▸Retail	1	$16B
▸Industrial Distribution	1	$10B
▸Utilities	1	$9B

Price history

+315.8% since first listed

12 events — show timeline

• 2026-06-12 Listed $395,000 Heartland MLS as Distributed by MLS Grid
• 2022-10-03 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-09-27 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2022-07-19 Price Changed $510,000 Heartland MLS as Distributed by MLS Grid
• 2022-05-20 Listed $650,000 Heartland MLS as Distributed by MLS Grid
• 2021-06-07 Sold (Public Records) — Public Records
• 2011-12-21 Sold (Public Records) — Public Records
• 2005-10-06 Sold (Public Records) — Public Records
• 2004-02-11 Sold (Public Records) — Public Records
• 2004-01-21 Sold (Public Records) — Public Records
• 2003-12-10 Listed $95,000 Heartland MLS as Distributed by MLS Grid
• 1982-12-01 Sold (Public Records) — Public Records

Property tax history

+7.4%/yr

Latest (2025): $3,457 · +4.1% YoY. Source: county tax records.