505 Wallace Ave · Kansas City, MO 64125

$54,900

3 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 65 Days on market

Built 1918 5,530 sqft lot $49/sqft · 29% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

Fire-damaged property with foundation intact and majority of framing remaining. Excellent opportunity for investor or rehabber to complete and capture value. Sold as-is, buyer to verify all conditions.

Key facts

• 5,530 sq ft lot
• Built 1918
• Listed 65 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $545 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.2% 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: 12 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($380 loan paydown + $5k appreciation (10.0% local appreciation)).
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.19% ✓
• Cap rate: 18.20%
• Cash-on-cash: 42.52%
• DSCR: 2.89
• GRM: 3.8

CMA / ARV

• ARV (median comp): $125,511
• List price: $54,900
• Delta: -56.26%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
716 Lewis Ave	0.27mi	3/1.0	1,062 (-6%)	8mo	$49,000	$46	71
8715 E Roberts St	0.24mi	3/1.5	1,056 (-6%)	12mo	$20,000	$19	66
8610 Smart Ave	0.11mi	3/2.0	1,280 (+14%)	16mo	$175,000	$137	55
8810 Smart Ave	0.35mi	4/4.0 (+1)	1,260 (+12%)	1mo	$160,000	$127	46
8919 E Independence Ave	0.46mi	2/1.0 (-1)	988 (-12%)	20mo	$140,000	$142	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 57.3%
• Equity multiple: 5.20×
• Total profit: $64,622
• Equity at exit: $49,458

10-year hold

• IRR: 50.8%
• Equity multiple: 11.61×
• Total profit: $163,092
• Equity at exit: $106,659

Cash invested: $15,372 (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 64125

• Home prices YoY: 3.1%
• Active inventory: 12
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,203 high
• Mortgage (P&I): −$288
• Tax from tax record: −$95 /mo · $1,138/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $545

Break-even live

Break-even rent $513

Max offer price $54,900

Occupancy floor 50%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8705 E Smart Ave Independence, MO	2.0	1.0	750	$1,000	$1.33	43d	1	0.22mi
576 S Oxford Ave Independence, MO	3.0	2.0	1098	$1,400	$1.28	43d	1	0.84mi
600 S Glenwood Ave Unit F Independence, MO	2.0	1.0	750	$995	$1.33	19d	1	0.89mi
100 S Oxford Ave Independence, MO	3.0	2.0	1141	$1,425	$1.25	44d	1	0.92mi
554 S Arlington Ave Independence, MO	4.0	1.0	1161	$1,395	$1.20	14d	1	1.02mi
1138 S Glenwood Ave Independence, MO	2.0	1.0	1180	$1,095	$0.93	19d	1	1.05mi
9528 E Winner Rd Independence, MO	1.0–3.0	1.0	730	$1,099	$1.51	43d	1	1.09mi
1704 S Brookside Ave Independence, MO	4.0	1.0	834	$1,450	$1.74	14d	1	1.30mi
10104 E Golf Ave Independence, MO	3.0	2.0	1205	$1,395	$1.16	14d	1	1.35mi

Listing history 27 events

1. 2026-06-18
   days on market $54,900 Active 65 DOM
2. 2026-06-17
   days on market $54,900 Active 64 DOM
3. 2026-06-16
   days on market $54,900 Active 63 DOM
4. 2026-06-15
   days on market $54,900 Active 62 DOM
5. 2026-06-13
   days on market $54,900 Active 60 DOM
6. 2026-06-09
   days on market $54,900 Active 56 DOM
7. 2026-06-08
   days on market $54,900 Active 55 DOM
8. 2026-06-07
   days on market $54,900 Active 54 DOM
9. 2026-06-05
   days on market $54,900 Active 51 DOM
10. 2026-06-03
    days on market $54,900 Active 50 DOM
11. 2026-06-02
    days on market $54,900 Active 49 DOM
12. 2026-06-01
    days on market $54,900 Active 48 DOM
13. 2026-05-31
    days on market $54,900 Active 47 DOM
14. 2026-04-14
    listed $54,900 Active 201-char remark

    Show marketing remark (201 chars)

    Fire-damaged property with foundation intact and majority of framing remaining. Excellent opportunity for investor or rehabber to complete and capture value. Sold as-is, buyer to verify all conditions.

15. 2024-12-10
    soldstatus
16. 2021-12-29
    soldstatus
17. 2021-12-28
    soldstatus Closed 641-char remark

    Show marketing remark (641 chars)

    Property back on the market! No fault of sellers! Wonderful, story and a half 4 bedroom, 1 bath house! Great view of the city from the front porch with your morning coffee. Have Bar B Ques on the back patio! Storage on patio for the Gardner in the family with lots of room to grow your dream garden! Off Street parking at back of house. Close to highways, shopping, restaurants. All newer windows, hardwood and laminate flooring. Granite counter tops! Stove and Refrigerator staying with property. Laundry on the Main floor. Come see it today before its gone! Great For the First time home buyer or Rental! Property is being sold As Is.

18. 2021-11-29
    status Pending 641-char remark

    Show marketing remark (641 chars)

    Property back on the market! No fault of sellers! Wonderful, story and a half 4 bedroom, 1 bath house! Great view of the city from the front porch with your morning coffee. Have Bar B Ques on the back patio! Storage on patio for the Gardner in the family with lots of room to grow your dream garden! Off Street parking at back of house. Close to highways, shopping, restaurants. All newer windows, hardwood and laminate flooring. Granite counter tops! Stove and Refrigerator staying with property. Laundry on the Main floor. Come see it today before its gone! Great For the First time home buyer or Rental! Property is being sold As Is.

19. 2021-11-14
    status Active 641-char remark

    Show marketing remark (641 chars)

    Property back on the market! No fault of sellers! Wonderful, story and a half 4 bedroom, 1 bath house! Great view of the city from the front porch with your morning coffee. Have Bar B Ques on the back patio! Storage on patio for the Gardner in the family with lots of room to grow your dream garden! Off Street parking at back of house. Close to highways, shopping, restaurants. All newer windows, hardwood and laminate flooring. Granite counter tops! Stove and Refrigerator staying with property. Laundry on the Main floor. Come see it today before its gone! Great For the First time home buyer or Rental! Property is being sold As Is.

20. 2021-11-11
    status Pending 641-char remark

    Show marketing remark (641 chars)

    Property back on the market! No fault of sellers! Wonderful, story and a half 4 bedroom, 1 bath house! Great view of the city from the front porch with your morning coffee. Have Bar B Ques on the back patio! Storage on patio for the Gardner in the family with lots of room to grow your dream garden! Off Street parking at back of house. Close to highways, shopping, restaurants. All newer windows, hardwood and laminate flooring. Granite counter tops! Stove and Refrigerator staying with property. Laundry on the Main floor. Come see it today before its gone! Great For the First time home buyer or Rental! Property is being sold As Is.

21. 2021-10-30
    status Active 641-char remark

    Show marketing remark (641 chars)

    Property back on the market! No fault of sellers! Wonderful, story and a half 4 bedroom, 1 bath house! Great view of the city from the front porch with your morning coffee. Have Bar B Ques on the back patio! Storage on patio for the Gardner in the family with lots of room to grow your dream garden! Off Street parking at back of house. Close to highways, shopping, restaurants. All newer windows, hardwood and laminate flooring. Granite counter tops! Stove and Refrigerator staying with property. Laundry on the Main floor. Come see it today before its gone! Great For the First time home buyer or Rental! Property is being sold As Is.

22. 2021-10-26
    status Pending 641-char remark

    Show marketing remark (641 chars)

    Property back on the market! No fault of sellers! Wonderful, story and a half 4 bedroom, 1 bath house! Great view of the city from the front porch with your morning coffee. Have Bar B Ques on the back patio! Storage on patio for the Gardner in the family with lots of room to grow your dream garden! Off Street parking at back of house. Close to highways, shopping, restaurants. All newer windows, hardwood and laminate flooring. Granite counter tops! Stove and Refrigerator staying with property. Laundry on the Main floor. Come see it today before its gone! Great For the First time home buyer or Rental! Property is being sold As Is.

23. 2021-10-20
    listed $89,900 Active 641-char remark

    Show marketing remark (641 chars)

    Property back on the market! No fault of sellers! Wonderful, story and a half 4 bedroom, 1 bath house! Great view of the city from the front porch with your morning coffee. Have Bar B Ques on the back patio! Storage on patio for the Gardner in the family with lots of room to grow your dream garden! Off Street parking at back of house. Close to highways, shopping, restaurants. All newer windows, hardwood and laminate flooring. Granite counter tops! Stove and Refrigerator staying with property. Laundry on the Main floor. Come see it today before its gone! Great For the First time home buyer or Rental! Property is being sold As Is.

24. 2021-08-13
    soldstatus
25. 2014-09-25
    soldstatus
26. 2013-10-20
    listed $48,000
27. 1987-05-21
    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: $1,138 · $95/mo
• Projected year-2 tax: $1,138 · $95/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 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: $14,434
• − Mortgage interest: −$3,075
• − Property taxes: −$1,138
• − Insurance: −$274
• − Repairs & maintenance: −$1,155
• − Management: −$1,155
• − Depreciation: −$1,597
• Taxable income: $6,040
• Est. tax owed @ 24.0%: −$1,450
• After-tax cash flow: $5,086/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
• City population: 439,467
• Population (ZIP): 2,723

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: Majority Hispanic (61%)
• Race & ethnicity: Hispanic / Latino 61% White 26% Black 10% Two or more races 7%
• Hispanic origin (detail): Mexican 50% Puerto Rican 1%
• Common ancestry: Serbian 1% Slovak 1%
• Foreign-born: 15% · Canada, South Korea
• Languages at home: 52% English-only · Spanish 48%

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: ▲ 14.18%
• Current HPI: 471.552
• Rent YoY: —
• Metro: —
• 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

+14.4% since first listed

14 events — show timeline

• 2026-04-14 Listed $54,900 Heartland MLS as Distributed by MLS Grid
• 2024-12-10 Sold (Public Records) — Public Records
• 2021-12-29 Sold (Public Records) — Public Records
• 2021-12-28 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2021-11-29 Pending — Heartland MLS as Distributed by MLS Grid
• 2021-11-14 Relisted — Heartland MLS as Distributed by MLS Grid
• 2021-11-11 Pending — Heartland MLS as Distributed by MLS Grid
• 2021-10-30 Relisted — Heartland MLS as Distributed by MLS Grid
• 2021-10-26 Pending — Heartland MLS as Distributed by MLS Grid
• 2021-10-20 Listed $89,900 Heartland MLS as Distributed by MLS Grid
• 2021-08-13 Sold (Public Records) — Public Records
• 2014-09-25 Sold (Public Records) — Public Records
• 2013-10-20 Listed $48,000 Heartland MLS as Distributed by MLS Grid
• 1987-05-21 Sold (Public Records) — Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,138 · -27.4% YoY. Source: county tax records.