11505 E 24th St S · Independence, MO 64052

$245,000

4 bd · 4.0 ba · 1,832 sqft · MultiFamily public records · 23 Days on market

Built 2002 10,623 sqft lot Est $260k · 6% under

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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 +17.6/30.0
• ARV discount +10.1/15.0
• DSCR +5.5/10.0
• 1% rule +4.2/10.0
• Livability +4.1/5.0
• Rent growth +3.9/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Great cash flowing Newer 2 bed 1 bath all electric duplex in Independence just built in 2006. Both sides are rented for $825 a month. Tile floors in kitchen & Dinning room. Nice appliances. Vinyl siding with a brick front. Each with their own laundry hookups and each with a private single car garage. May be sold separately or together with duplex next door as a package with MLS #2336475 11501 E 24th st south. Do not disturb tenant. Call listing agent with any questions. at least 24 hour notice is required

Key facts

• Vinyl siding
• One car garages
• 0.24 acre lot

Tags

• INVESTMENT OPPORTUNITY
• TILE AND VINYL PLANK FLOORING
• VINYL SIDING
• WASHER AND DRYER HOOKUPS
• ONE CAR GARAGES

Property features AI

Finance

• Other: Zoned R
• Financial info: Gross income reported at $22,860; Operating expenses include real estate tax
• HOA & community: No association fees

Exterior

• Parking: Garage with space for 2 vehicles (has garage)
• Utilities: Public water; Public sewer; Separate meters
• Home design: Duplex residential income property; Single-story building
• Construction: Frame construction; Composition roof
• Exterior features: Lot approximately 10,623 square feet

Interior

• Kitchen: Kitchens include dishwasher, range/oven, and refrigerator
• Bedrooms: Two 2-bedroom units
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Natural gas heating; Electric cooling (central cooling present)
• Interior features: Dishwasher; Refrigerator; Electric range
• Laundry & utility: Separate meters for utilities

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $245k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/yr) — positive. Per door: $97/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (8.1% below list).
• Recommended offer: $225k (8.1% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 5.0% in Independence — 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 82/100 on livability (#10 in MO, #1,296 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, employment D+, crime F.
• Independence 30 (suburban): math 26% / reading 38% proficiency, ranked #252 of 324 in MO (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.4%/yr); 127 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $2,251/mo this rent would consume 46% of the median local household income ($59k/yr) (locally 965% 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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 23 days — a 2% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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.

Recommended offer $225,100 (8.1% below list)

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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.92% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.39%
• DSCR: 1.15
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $260,144
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11505 E 24th St S	0.00mi	4/2.0	1,728 (-6%)	1mo	$245,000	$142	82
11501 E 24th St S	0.02mi	4/2.0	1,728 (-6%)	1mo	$245,000	$142	81
1620 W 24th Ter	0.18mi	4/2.0	1,920 (+5%)	24mo	$210,000	$109	56

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 · 5.43% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.68×
• Total profit: $-21,749
• Equity at exit: $36,530

10-year hold

• IRR: 3.8%
• Equity multiple: 1.31×
• Total profit: $21,139
• Equity at exit: $21,183

Cash invested: $68,600 (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 64052

• Home prices YoY: -34.6%
• Rents YoY: 5.4%
• Active inventory: 127
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $2,251 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$198 /mo · $2,370/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $194

Break-even live

Break-even rent $2,006

Max offer price $245,000

Occupancy floor 86%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,252
Total (2 units)			$2,251

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2356 S Crysler Ave Independence, MO	3.0	2.0	1881	$1,653	$0.88	23d	1	0.39mi
2256 S Sterling Ave Independence, MO	3.0	1.5	1284	$1,399	$1.09	16d	1	0.45mi
2110 S Sterling Ave Independence, MO	3.0	2.0	1722	$1,849	$1.07	16d	1	0.53mi
11709 E Winner Rd Independence, MO	3.0	1.5	1300	$1,195	$0.92	16d	1	0.65mi
10817 E 19th Ter S Independence, MO	3.0	1.0	1428	$1,801	$1.26	16d	1	0.72mi
1404 S Osage St Independence, MO	4.0	2.0	1300	$1,750	$1.35	14d	1	1.08mi
1425 S Northern Blvd Independence, MO	3.0	1.5	1275	$1,200	$0.94	7d	1	1.16mi
2815 Collin St Independence, MO	4.0	2.0	1860	$1,800	$0.97	43d	1	1.35mi
1416 S Hardy Ave Independence, MO	5.0	2.0	1328	$1,625	$1.22	43d	1	1.36mi

Listing history 11 events

1. 2026-05-01
   status Pending
2. 2026-04-08
   listed $245,000 Active
3. 2021-09-22
   soldstatus
4. 2021-09-14
   soldstatus Closed 517-char remark

   Show marketing remark (517 chars)

   Great cash flowing Newer 2 bed 1 bath all electric duplex in Independence just built in 2006. Both sides are rented for $825 a month. Tile floors in kitchen & Dinning room. Nice appliances. Vinyl siding with a brick front. Each with their own laundry hookups and each with a private single car garage. May be sold separately or together with duplex next door as a package with MLS #2336475 11501 E 24th st south. Do not disturb tenant. Call listing agent with any questions. at least 24 hour notice is required

5. 2021-08-09
   status Pending 517-char remark

   Show marketing remark (517 chars)

   Great cash flowing Newer 2 bed 1 bath all electric duplex in Independence just built in 2006. Both sides are rented for $825 a month. Tile floors in kitchen & Dinning room. Nice appliances. Vinyl siding with a brick front. Each with their own laundry hookups and each with a private single car garage. May be sold separately or together with duplex next door as a package with MLS #2336475 11501 E 24th st south. Do not disturb tenant. Call listing agent with any questions. at least 24 hour notice is required

6. 2021-08-04
   price $210,000 517-char remark

   Show marketing remark (517 chars)

   Great cash flowing Newer 2 bed 1 bath all electric duplex in Independence just built in 2006. Both sides are rented for $825 a month. Tile floors in kitchen & Dinning room. Nice appliances. Vinyl siding with a brick front. Each with their own laundry hookups and each with a private single car garage. May be sold separately or together with duplex next door as a package with MLS #2336475 11501 E 24th st south. Do not disturb tenant. Call listing agent with any questions. at least 24 hour notice is required

7. 2021-07-29
   listed $240,000 Active 517-char remark

   Show marketing remark (517 chars)

   Great cash flowing Newer 2 bed 1 bath all electric duplex in Independence just built in 2006. Both sides are rented for $825 a month. Tile floors in kitchen & Dinning room. Nice appliances. Vinyl siding with a brick front. Each with their own laundry hookups and each with a private single car garage. May be sold separately or together with duplex next door as a package with MLS #2336475 11501 E 24th st south. Do not disturb tenant. Call listing agent with any questions. at least 24 hour notice is required

8. 2019-09-06
   soldstatus Sold 146-char remark

   Show marketing remark (146 chars)

   Newer and well kept duplex generating great income. Both side are occupied, please do not disturb the tenants. Call list agent with any questions.

9. 2019-08-11
   historical Contingent - Accepting Backup Offers 146-char remark

   Show marketing remark (146 chars)

   Newer and well kept duplex generating great income. Both side are occupied, please do not disturb the tenants. Call list agent with any questions.

10. 2019-08-06
    listed $150,000 Active 146-char remark

    Show marketing remark (146 chars)

    Newer and well kept duplex generating great income. Both side are occupied, please do not disturb the tenants. Call list agent with any questions.

11. 2006-08-31
    soldstatus

ⓘ 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: $2,370 · $198/mo
• Projected year-2 tax: $2,376 · $198/mo
• Expected delta: +$6/yr (+$1/mo · 0.3%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°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: $27,012
• − Mortgage interest: −$13,724
• − Property taxes: −$2,370
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,161
• − Management: −$2,161
• − Depreciation: −$7,127
• Taxable loss: −$1,756
• Est. tax savings @ 24.0%: +$422
• After-tax cash flow: $2,748/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: Independence 30
• NCES district ID: 2915480
• Math proficiency: 26% ▼ -8.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $41,843
• Composite: 27.04/100
• National rank: #7054
• State rank: #252 of 324 in MO

Livability — Independence

• Score: 82/100
• State rank: #10
• US rank: #1296

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, MO
• County: Jackson County · 687,798 people
• City population: 117,675
• Metro: Kansas City, MO-KS
• Population (ZIP): 22,138
• Household income: $59,007
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 965.0

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 0.56)
• Race & ethnicity: White 62% Hispanic / Latino 23% Two or more races 15% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 12% Slovak 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 85% English-only · Spanish 13% Other Asian/Pacific 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: ▼ -160.06%
• Current HPI: 302.1124
• Rent YoY: ▲ 5.43%
• 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

+63.3% since first listed

11 events — show timeline

• 2026-05-01 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-08 Listed $245,000 Heartland MLS as Distributed by MLS Grid
• 2021-09-22 Sold (Public Records) — Public Records
• 2021-09-14 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2021-08-09 Pending — Heartland MLS as Distributed by MLS Grid
• 2021-08-04 Price Changed $210,000 Heartland MLS as Distributed by MLS Grid
• 2021-07-29 Listed $240,000 Heartland MLS as Distributed by MLS Grid
• 2019-09-06 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2019-08-11 Contingent — Heartland MLS as Distributed by MLS Grid
• 2019-08-06 Listed $150,000 Heartland MLS as Distributed by MLS Grid
• 2006-08-31 Sold (Public Records) — Public Records

Property tax history

+6.7%/yr

Latest (2025): $2,370 · -5.0% YoY. Source: county tax records.