1313-1315 S Franklin Ave · Independence, MO 64052

$175,000

6 bd · 2.0 ba · 1,308 sqft · MultiFamily public records · 89 Days on market

Built 1959 8,227 sqft lot Est $210k · 17% under

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Why this score? — see what drove the B- 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 +24.0/30.0
• ARV discount +14.9/15.0
• DSCR +7.7/10.0
• 1% rule +5.6/10.0
• 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

This turn-key duplex is a premier investment opportunity in a high-demand rental district. The property offers exceptional peace of mind with a one-year-old roof, ensuring low maintenance costs and long-term structural integrity for the new owner. The building provides immediate financial stability, as one unit is currently occupied by reliable, long-term tenants with a lease secured through next year. This guaranteed income stream allows for a seamless transition while you capitalize on the building's prime location and consistent historical occupancy. The second unit is move-in ready and features fresh designer paint, modern durable flooring, and plush new carpeting throughout. Whether you choose to house-hack and live for a fraction of the cost or rent it out at top-market rates, this refreshed space is designed to attract high-quality applicants in a high-growth area.

Key facts

• 8,227 sq ft lot
• Built 1959
• Listed 89 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $287 ($3k/yr) — positive. Per door: $143/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: 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.
• Zoned schools: Korte Elem. (math 17% / reading 32%, grade F, #879 of 1,115 statewide, top 81%, 447 students, 85% FRL); Clifford H. Nowlin Middle (math 13% / reading 29%, grade F, #342 of 391 statewide, top 88%, 875 students, 80% FRL); Van Horn High (math 13% / reading 27%, grade F, #472 of 521 statewide, top 91%, 1,047 students, 72% FRL) — zoned schools average 79% FRL vs 58% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 135 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• This rent runs 38% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $49k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 29y ago; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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 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: 1.06% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.38%
• DSCR: 1.37
• GRM: 7.9

CMA / ARV

• ARV (median comp): $209,641
• List price: $175,000
• Delta: -16.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.43% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-5,459
• Equity at exit: $26,093

10-year hold

• IRR: 9.3%
• Equity multiple: 1.79×
• Total profit: $38,766
• Equity at exit: $15,131

Cash invested: $49,000 (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: 135
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $1,850 high
• Mortgage (P&I): −$918
• Tax from tax record: −$129 /mo · $1,544/yr
• Insurance: −$73
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $287

Break-even live

Break-even rent $1,487

Max offer price $175,000

Occupancy floor 80%

Sensitivity live

Price	-10% $386	-5% $336	+0% $287	+5% $237	+10% $188
Rent	-10% $141	-5% $214	+0% $287	+5% $360	+10% $433
Rate	-1.0pp $375	-0.5pp $331	base $287	+0.5pp $241	+1.0pp $195

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,850
Total (2 units)			$1,850

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1416 S Hardy Ave Independence, MO	5.0	2.0	1328	$1,625	$1.22	45d	1	0.32mi

Listing history 44 events

1. 2026-06-21
   days on market $175,000 Active 89 DOM
2. 2026-06-18
   days on market $175,000 Active 86 DOM
3. 2026-06-17
   days on market $175,000 Active 85 DOM
4. 2026-06-16
   days on market $175,000 Active 84 DOM
5. 2026-06-15
   statusdays on market $175,000 Active 83 DOM
6. 2026-06-01
   status $175,000 Pending 82 DOM
7. 2026-05-31
   days on market $175,000 Active 82 DOM
8. 2026-04-27
   price $175,000 884-char remark

   Show marketing remark (884 chars)

   This turn-key duplex is a premier investment opportunity in a high-demand rental district. The property offers exceptional peace of mind with a one-year-old roof, ensuring low maintenance costs and long-term structural integrity for the new owner. The building provides immediate financial stability, as one unit is currently occupied by reliable, long-term tenants with a lease secured through next year. This guaranteed income stream allows for a seamless transition while you capitalize on the building's prime location and consistent historical occupancy. The second unit is move-in ready and features fresh designer paint, modern durable flooring, and plush new carpeting throughout. Whether you choose to house-hack and live for a fraction of the cost or rent it out at top-market rates, this refreshed space is designed to attract high-quality applicants in a high-growth area.

9. 2026-04-27
   price $172,500 884-char remark

   Show marketing remark (884 chars)

   This turn-key duplex is a premier investment opportunity in a high-demand rental district. The property offers exceptional peace of mind with a one-year-old roof, ensuring low maintenance costs and long-term structural integrity for the new owner. The building provides immediate financial stability, as one unit is currently occupied by reliable, long-term tenants with a lease secured through next year. This guaranteed income stream allows for a seamless transition while you capitalize on the building's prime location and consistent historical occupancy. The second unit is move-in ready and features fresh designer paint, modern durable flooring, and plush new carpeting throughout. Whether you choose to house-hack and live for a fraction of the cost or rent it out at top-market rates, this refreshed space is designed to attract high-quality applicants in a high-growth area.

10. 2026-04-16
    price $180,000 884-char remark

    Show marketing remark (884 chars)

    This turn-key duplex is a premier investment opportunity in a high-demand rental district. The property offers exceptional peace of mind with a one-year-old roof, ensuring low maintenance costs and long-term structural integrity for the new owner. The building provides immediate financial stability, as one unit is currently occupied by reliable, long-term tenants with a lease secured through next year. This guaranteed income stream allows for a seamless transition while you capitalize on the building's prime location and consistent historical occupancy. The second unit is move-in ready and features fresh designer paint, modern durable flooring, and plush new carpeting throughout. Whether you choose to house-hack and live for a fraction of the cost or rent it out at top-market rates, this refreshed space is designed to attract high-quality applicants in a high-growth area.

11. 2026-04-03
    price $185,000 884-char remark

    Show marketing remark (884 chars)

    This turn-key duplex is a premier investment opportunity in a high-demand rental district. The property offers exceptional peace of mind with a one-year-old roof, ensuring low maintenance costs and long-term structural integrity for the new owner. The building provides immediate financial stability, as one unit is currently occupied by reliable, long-term tenants with a lease secured through next year. This guaranteed income stream allows for a seamless transition while you capitalize on the building's prime location and consistent historical occupancy. The second unit is move-in ready and features fresh designer paint, modern durable flooring, and plush new carpeting throughout. Whether you choose to house-hack and live for a fraction of the cost or rent it out at top-market rates, this refreshed space is designed to attract high-quality applicants in a high-growth area.

12. 2026-03-18
    price $190,000 884-char remark

    Show marketing remark (884 chars)

    This turn-key duplex is a premier investment opportunity in a high-demand rental district. The property offers exceptional peace of mind with a one-year-old roof, ensuring low maintenance costs and long-term structural integrity for the new owner. The building provides immediate financial stability, as one unit is currently occupied by reliable, long-term tenants with a lease secured through next year. This guaranteed income stream allows for a seamless transition while you capitalize on the building's prime location and consistent historical occupancy. The second unit is move-in ready and features fresh designer paint, modern durable flooring, and plush new carpeting throughout. Whether you choose to house-hack and live for a fraction of the cost or rent it out at top-market rates, this refreshed space is designed to attract high-quality applicants in a high-growth area.

13. 2026-03-11
    listed $200,000 Active 884-char remark

    Show marketing remark (884 chars)

    This turn-key duplex is a premier investment opportunity in a high-demand rental district. The property offers exceptional peace of mind with a one-year-old roof, ensuring low maintenance costs and long-term structural integrity for the new owner. The building provides immediate financial stability, as one unit is currently occupied by reliable, long-term tenants with a lease secured through next year. This guaranteed income stream allows for a seamless transition while you capitalize on the building's prime location and consistent historical occupancy. The second unit is move-in ready and features fresh designer paint, modern durable flooring, and plush new carpeting throughout. Whether you choose to house-hack and live for a fraction of the cost or rent it out at top-market rates, this refreshed space is designed to attract high-quality applicants in a high-growth area.

14. 2026-03-10
    historical $200,000 884-char remark

    Show marketing remark (884 chars)

    This turn-key duplex is a premier investment opportunity in a high-demand rental district. The property offers exceptional peace of mind with a one-year-old roof, ensuring low maintenance costs and long-term structural integrity for the new owner. The building provides immediate financial stability, as one unit is currently occupied by reliable, long-term tenants with a lease secured through next year. This guaranteed income stream allows for a seamless transition while you capitalize on the building's prime location and consistent historical occupancy. The second unit is move-in ready and features fresh designer paint, modern durable flooring, and plush new carpeting throughout. Whether you choose to house-hack and live for a fraction of the cost or rent it out at top-market rates, this refreshed space is designed to attract high-quality applicants in a high-growth area.

15. 2026-03-09
    historical
16. 2025-11-25
    historical
17. 2025-06-10
    historical
18. 2025-05-28
    price $170,000
19. 2025-05-10
    status Active
20. 2025-05-03
    historical Active Under Contract
21. 2025-04-25
    price $175,000
22. 2025-04-15
    listed $185,000 Active
23. 2022-01-28
    soldstatus
24. 2022-01-27
    soldstatus Closed
25. 2021-11-20
    historical Active Under Contract
26. 2021-11-18
    listed $139,000 Active
27. 2015-03-19
    soldstatus
28. 2014-11-25
    soldstatus
29. 2013-04-17
    soldstatus
30. 2013-01-08
    listed $36,900
31. 2007-09-24
    soldstatus
32. 2007-07-16
    listed $62,790
33. 2005-03-02
    soldstatus
34. 2005-02-28
    soldstatus
35. 2004-11-20
    listed $79,900
36. 2001-11-13
    soldstatus
37. 2001-06-22
    soldstatus
38. 2000-05-09
    soldstatus
39. 2000-05-05
    soldstatus
40. 2000-03-23
    listed $61,750
41. 1997-10-31
    soldstatus
42. 1997-10-30
    soldstatus
43. 1997-05-14
    listed $60,000
44. 1989-10-20
    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: $1,544 · $129/mo
• Projected year-2 tax: $1,698 · $141/mo
• Expected delta: +$154/yr (+$13/mo · 10.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,200
• − Mortgage interest: −$9,803
• − Property taxes: −$1,544
• − Insurance: −$1,542
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$5,091
• Taxable income: $669
• Est. tax owed @ 24.0%: −$161
• After-tax cash flow: $3,280/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

+191.7% since first listed

37 events — show timeline

• 2026-04-27 Price Changed $175,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $172,500 Heartland MLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $180,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-03 Price Changed $185,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-18 Price Changed $190,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-11 Listed $200,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-10 Coming Soon $200,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-09 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-11-25 Coming Soon — Heartland MLS as Distributed by MLS Grid
• 2025-06-10 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-05-28 Price Changed $170,000 Heartland MLS as Distributed by MLS Grid
• 2025-05-10 Relisted — Heartland MLS as Distributed by MLS Grid
• 2025-05-03 Contingent — Heartland MLS as Distributed by MLS Grid
• 2025-04-25 Price Changed $175,000 Heartland MLS as Distributed by MLS Grid
• 2025-04-15 Listed $185,000 Heartland MLS as Distributed by MLS Grid
• 2022-01-28 Sold (Public Records) — Public Records
• 2022-01-27 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2021-11-20 Contingent — Heartland MLS as Distributed by MLS Grid
• 2021-11-18 Listed $139,000 Heartland MLS as Distributed by MLS Grid
• 2015-03-19 Sold (Public Records) — Public Records
• 2014-11-25 Sold (Public Records) — Public Records
• 2013-04-17 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2013-01-08 Listed $36,900 Heartland MLS as Distributed by MLS Grid
• 2007-09-24 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2007-07-16 Listed $62,790 Heartland MLS as Distributed by MLS Grid
• 2005-03-02 Sold (Public Records) — Public Records
• 2005-02-28 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2004-11-20 Listed $79,900 Heartland MLS as Distributed by MLS Grid
• 2001-11-13 Sold (Public Records) — Public Records
• 2001-06-22 Sold (Public Records) — Public Records
• 2000-05-09 Sold (Public Records) — Public Records
• 2000-05-05 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2000-03-23 Listed $61,750 Heartland MLS as Distributed by MLS Grid
• 1997-10-31 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 1997-10-30 Sold (Public Records) — Public Records
• 1997-05-14 Listed $60,000 Heartland MLS as Distributed by MLS Grid
• 1989-10-20 Sold (Public Records) — Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,544 · -37.1% YoY. Source: county tax records.