1108 S 39th St · Kansas City, KS 66106

$159,000

3 bd · 1.0 ba · 1,018 sqft · SingleFamily public records · 18 Days on market

Built 1925 6,098 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1108 S 39th Street in Argentine, KS! This beautifully remodeled 3 bedroom, 1 bathroom home is full of updates and opportunity. Featuring updated flooring, fresh interior paint, select new windows, updated electrical, and so much more, this move in ready home blends charm with modern touches. Tucked away on a private cul de sac street, you’ll enjoy a quiet setting while still being close to city conveniences. What makes this property even more unique? Additional land bank lots are available for purchase on both sides of the home, creating endless possibilities for expansion, extra outdoor space, investment potential, or future projects. Come explore everything this property

Key facts

• 6,098 sq ft lot
• Built 1925
• Listed 17 days

Property features AI

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer
• Home design: Single-family residential; Frame construction; Composition roof; About 1,018 above-grade living area; More than 101 years old
• Construction: Frame construction; Composition roof; Crawl space foundation; Built over 100 years ago
• Exterior features: Lot approximately 6,098 square feet

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Crawl space basement; Bungalow floor plan

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $157k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 4.8% 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 72/100 on livability (#103 in KS) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• Kansas City (urban): math 8% / reading 15% proficiency, ranked #169 of 169 in KS (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: New Stanley Elem (math 8% / reading 17%, grade F, #643 of 684 statewide, top 95%, 214 students, 91% FRL); J C Harmon High (math 0% / reading 4%, grade F, #326 of 327 statewide, top 100%, 1,330 students, 79% FRL) — zoned schools at 85% FRL track the district average.
• Market conditions: 93 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 369 units permitted in Wyandotte County in 2024 (236 in 5+ unit buildings).
• This rent runs 39% of the median local income ($61k/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.
• Wyandotte County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $156,615 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.27% ✓
• Cap rate: 11.08%
• Cash-on-cash: 17.09%
• DSCR: 1.76
• GRM: 6.6

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: 6.4%
• Equity multiple: 1.25×
• Total profit: $11,049
• Equity at exit: $23,707

10-year hold

• IRR: 15.7%
• Equity multiple: 2.28×
• Total profit: $56,963
• Equity at exit: $13,747

Cash invested: $44,520 (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 66106

• Active inventory: 93
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,015 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$58 /mo · $693/yr
• Insurance: −$66
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $578

Break-even live

Break-even rent $1,283

Max offer price $159,000

Occupancy floor 66%

Sensitivity live

Price	-10% $668	-5% $623	+0% $578	+5% $533	+10% $488
Rent	-10% $419	-5% $499	+0% $578	+5% $658	+10% $738
Rate	-1.0pp $658	-0.5pp $619	base $578	+0.5pp $537	+1.0pp $495

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5012 Powell Ave Kansas City, KS	3.0	2.0	1452	$1,895	$1.31	15d	1	1.08mi
2118 S 47th St Kansas City, KS	3.0	1.0	1008	$2,400	$2.38	18d	1	1.39mi

Listing history 16 events

1. 2026-06-21
   days on market $159,000 Active 18 DOM
2. 2026-06-18
   days on market $159,000 Active 15 DOM
3. 2026-06-17
   remarks 693-char remark
4. 2026-06-17
   days on market $159,000 Active 14 DOM
5. 2026-06-16
   pricedays on market $159,000 Active 13 DOM
6. 2026-06-15
   days on market $165,000 Active 12 DOM
7. 2026-06-13
   days on market $165,000 Active 10 DOM
8. 2026-06-13
   days on market $165,000 Active 9 DOM
9. 2026-06-09
   days on market $165,000 Active 6 DOM
10. 2026-06-08
    days on market $165,000 Active 5 DOM
11. 2026-06-07
    days on market $165,000 Active 4 DOM
12. 2026-06-05
    statusdays on market $165,000 Active 1 DOM
13. 2026-06-03
    days on market $165,000 Coming Soon 5 DOM
14. 2026-06-02
    days on market $165,000 Coming Soon 4 DOM
15. 2026-06-01
    days on market $165,000 Coming Soon 3 DOM
16. 2026-05-31
    days on market $165,000 Coming Soon 2 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 KS · Resets to sale price

• Current annual tax: $693 · $58/mo
• Projected year-2 tax: $2,242 · $187/mo
• Expected delta: +$1,549/yr (+$129/mo · 223.6%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,178
• − Mortgage interest: −$8,906
• − Property taxes: −$693
• − Insurance: −$1,462
• − Repairs & maintenance: −$1,934
• − Management: −$1,934
• − Depreciation: −$4,625
• Taxable income: $4,623
• Est. tax owed @ 24.0%: −$1,110
• After-tax cash flow: $5,831/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
• NCES district ID: 2007950
• Math proficiency: 8% ▼ -10.00%
• Reading proficiency: 15% ▼ -4.00%
• Median HH income: $34,774
• Composite: 9.38/100
• National rank: #9856
• State rank: #169 of 169 in KS

Livability — Kansas City

• Score: 72/100
• State rank: #103
• US rank: #6054

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kansas City, KS
• County: Wyandotte County · 130,206 people
• City population: 130,206
• Metro: Kansas City, MO-KS
• Population (ZIP): 24,245
• Household income: $61,331
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 583.0

Population outlook (Wyandotte County) Hauer SSP2

• Today (2025): 177,063 people
• By 2030: 183,212 · +3.5%
• By 2040: 195,697 · +10.5%
• By 2050: 207,897 · +17.4%
• By 2075: 236,169 · +33.4%
• By 2100: 255,790 · +44.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 47% Hispanic / Latino 38% Two or more races 12% Black 8% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 14% · Canada
• Languages at home: 68% English-only · Spanish 29% Other Asian/Pacific 2%

Political lean MEDSL · Wyandotte

• 2024 margin: Strong D (+23.9) · D 61.1% · R 37.3% · Other 1.6%
• 2008→2024 swing: -17.0pp toward R · 2008: 40.9pp · 2024: 23.9pp
• All cycles: 2024: D+23.9 2020: D+30.9 2016: D+29.1 2012: D+36.4 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -253.32%
• Current HPI: 239.6957
• Rent YoY: —
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-05-29 Coming Soon $165,000 Heartland MLS as Distributed by MLS Grid
• 2024-09-11 Sold (Public Records) — Public Records

Property tax history

+1.5%/yr

Latest (2025): $693 · -38.6% YoY. Source: county tax records.