808 S Willis Ave · Independence, MO 64052

$189,000

4 bd · 2.0 ba · 1,876 sqft · MultiFamily public records · 5 Days on market

Built 1925 4,977 sqft lot Est $266k · 29% 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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.7/10.0
• 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

Nice 2-story duplex with separate meters, basement was finished for 3rd unit at one time, could be done again with some work. First floor vacant unit and basement can be scheduled most anytime, but the upstairs unit is occupied, and can only be shown on Saturdays between the hours of 11am - 6pm, and Sundays between the hours of 10am - 1pm, and requires 48-Hours Notice (just for the upstairs unit). Owner may finance with 10% down, 10% interests, up to 30-year amortizations, with 5-year balloon, buyer pays fixed $1,000 closing costs for owner finance option, see attachments.

Key facts

• Hot water heaters
• 2 story duplex
• Separately metered

Tags

• 2 STORY DUPLEX
• PROFESSIONALLY MANAGED
• TURNKEY ADDITION
• SEPARATELY METERED
• INDEPENDENT HEAT
• HOT WATER HEATERS

Property features AI

Finance

• Financial info: Gross income reported at $21,480; Operating expenses include insurance and real estate taxes
• HOA & community: No association fees

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer; Independent heat and air
• Home design: Duplex residential income property; Two stories
• Construction: Stucco and frame construction; Composition roof
• Exterior features: Property not in a flood plain; Lot about 4,977 square feet

Interior

• Bedrooms: Two-bedroom units (two units total)
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: Basement present
• Laundry & utility: Laundry in basement; Indoor laundry; Separate meters for utilities; Individual water heaters

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $189k.

Deal economics

• At list price, monthly cash flow is $519 ($6k/yr) — positive. Per door: $259/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Cap rate 9.6% 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: Santa Fe Trail Elem. (math 37% / reading 47%, grade F, #481 of 1,115 statewide, top 46%, 386 students, 76% FRL); Bridger Middle (math 32% / reading 38%, grade F, #240 of 391 statewide, top 62%, 770 students, 65% FRL); William Chrisman High (math 21% / reading 45%, grade F, #351 of 521 statewide, top 68%, 1,406 students, 66% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 135 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• This rent runs 45% 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 $6k 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 $53k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 24y 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 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,000

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 1925 — 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: 1.17% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.76%
• DSCR: 1.52
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $266,392
• 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	0.70mi	4/2.0	1,728 (-8%)	1mo	$245,000	$142	54
11501 E 24th St S	0.71mi	4/2.0	1,728 (-8%)	1mo	$245,000	$142	53
1620 W 24th Ter	0.58mi	4/2.0	1,920 (+2%)	24mo	$210,000	$109	49

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: 3.8%
• Equity multiple: 1.15×
• Total profit: $7,896
• Equity at exit: $28,181

10-year hold

• IRR: 15.4%
• Equity multiple: 2.38×
• Total profit: $73,108
• Equity at exit: $16,341

Cash invested: $52,920 (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: 14.3×

Monthly cashflow live

• Estimated rent: $2,202 high
• Mortgage (P&I): −$991
• Tax from tax record: −$151 /mo · $1,814/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $519

Break-even live

Break-even rent $1,546

Max offer price $189,000

Occupancy floor 71%

Sensitivity live

Price	-10% $626	-5% $572	+0% $519	+5% $465	+10% $412
Rent	-10% $345	-5% $432	+0% $519	+5% $606	+10% $693
Rate	-1.0pp $614	-0.5pp $567	base $519	+0.5pp $470	+1.0pp $420

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,202
Total (2 units)			$2,202

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2342 S Crysler Ave Independence, MO	3.0	2.0	1400	$1,395	$1.00	0d	1	0.43mi
11709 E Winner Rd Independence, MO	3.0	1.5	1300	$1,195	$0.92	18d	1	0.44mi
2356 S Crysler Ave Independence, MO	3.0	2.0	1881	$1,653	$0.88	25d	1	0.46mi
1404 S Osage St Independence, MO	4.0	2.0	1300	$1,750	$1.35	16d	1	0.80mi
2110 S Sterling Ave Independence, MO	3.0	2.0	1722	$1,849	$1.07	18d	1	0.89mi
2256 S Sterling Ave Independence, MO	3.0	1.5	1284	$1,399	$1.09	18d	1	0.91mi
10817 E 19th Ter S Independence, MO	3.0	1.0	1428	$1,801	$1.26	18d	1	1.04mi
1425 S Northern Blvd Independence, MO	3.0	1.5	1275	$1,200	$0.94	9d	1	1.21mi
1416 S Hardy Ave Independence, MO	5.0	2.0	1328	$1,625	$1.22	46d	1	1.49mi

Listing history 4 events

1. 2026-06-21
   days on market $189,000 Active 5 DOM
2. 2026-06-18
   days on market $189,000 Active 2 DOM
3. 2026-06-17
   remarks 622-char remark
4. 2026-06-17
   listed $189,000 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: $1,814 · $151/mo
• Projected year-2 tax: $1,833 · $153/mo
• Expected delta: +$20/yr (+$2/mo · 1.1%)

ⓘ 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 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: $26,424
• − Mortgage interest: −$10,587
• − Property taxes: −$1,814
• − Insurance: −$945
• − Repairs & maintenance: −$2,114
• − Management: −$2,114
• − Depreciation: −$5,498
• Taxable income: $3,352
• Est. tax owed @ 24.0%: −$805
• After-tax cash flow: $5,418/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

+244.3% since first listed

19 events — show timeline

• 2026-06-16 Listed $189,000 Heartland MLS as Distributed by MLS Grid
• 2024-11-20 Sold (Public Records) — Public Records
• 2024-11-20 Sold (Public Records) — Public Records
• 2023-10-31 Sold (Public Records) — Public Records
• 2023-10-24 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2023-09-28 Pending — Heartland MLS as Distributed by MLS Grid
• 2023-09-01 Listed $169,500 Heartland MLS as Distributed by MLS Grid
• 2014-06-26 Listed $77,000 Heartland MLS as Distributed by MLS Grid
• 2010-05-10 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2010-02-26 Listed $27,000 Heartland MLS as Distributed by MLS Grid
• 2005-04-15 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2005-01-27 Listed $87,900 Heartland MLS as Distributed by MLS Grid
• 2005-01-04 Sold (Public Records) — Public Records
• 2004-12-29 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2004-09-19 Listed $52,000 Heartland MLS as Distributed by MLS Grid
• 2002-08-28 Sold (Public Records) — Public Records
• 2002-08-26 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2002-05-28 Listed $54,900 Heartland MLS as Distributed by MLS Grid
• 1992-07-01 Sold (Public Records) — Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,814 · +0.5% YoY. Source: county tax records.