3701 NE 67th St · Gladstone, MO 64119

$210,000

3 bd · 2.0 ba · 1,200 sqft · Townhouse public records · 12 Days on market

Built 1965 6,098 sqft lot Est $197k · 7% over $51/mo HOA · 3% of rent

---

Why this score? — see what drove the D- 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 +12.5/30.0
• ARV discount +4.5/15.0
• Rent growth +4.0/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * $2500 ALLOWANCE CAN BE USED FOR CARPETING OR CLOSING COSTS * * * $12,000 below appraised value. New roof, new interior paint, newer furnace & A/C, lots of room, possible 4th bedroom downstairs. 2.5 baths. No E-tax in Gladstone. Ideal for larger family or roommates. Basement has a finished room with a closet and full bath. MUST SEE, Real value in this one.

Key facts

• Brick fireplace
• Walk-in closet
• Second living area

Tags

• NEW ROOF
• FINISHED LOWER LEVEL
• BRICK FIREPLACE
• FULLY FENCED BACKYARD
• SECOND LIVING AREA
• WALK-IN CLOSET

Property features AI

Finance

• HOA & community: HOA with an annual fee of $615; HOA covers curbside recycling, lawn service, and trash

Exterior

• Parking: Built-in garage with garage door opener (garage faces front); 1-car garage
• Security: Smoke detectors
• Utilities: Public water; Public sewer; High-speed internet available
• Home design: Residential half-duplex; Attached property; Two stories; Above-grade finished area approximately 1,200
• Construction: Frame construction; Composition roof
• Exterior features: Patio; Metal fencing; City lot, level

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Eat-in kitchen
• Bedrooms: Three bedrooms (primary and two additional bedrooms are on the second level)
• Flooring: Carpet
• Bathrooms: Two full bathrooms; One half bathroom; Bathroom with ceramic tile and shower-over-tub (second level); Bathroom with shower only (basement)
• Heating & cooling: Natural gas heating; Electric cooling (central)
• Interior features: Ceiling fans; Walk-in closets; Window coverings; Family room and formal living room
• Laundry & utility: Laundry in basement; Laundry in garage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $210k.

Deal economics

• At list price, monthly cash flow is $-31 ($-373/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (18.5% below list).
• Recommended offer: $171k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.4% in Gladstone — 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 76/100 on livability (#44 in MO, #3,612 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• North Kansas City 74 (urban): math 38% / reading 49% proficiency, ranked #98 of 324 in MO (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Chapel Hill Elementary (math 55% / reading 64%, grade B-, #124 of 1,115 statewide, top 13%, 599 students, 40% FRL); Oak Park High (math 36% / reading 56%, grade D-, #170 of 521 statewide, top 33%, 1,756 students, 42% FRL) — zoned schools at 41% FRL track the district average.
• Market conditions: Rents rising fast (+6.1%/yr); 183 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 341 units permitted in Clay County in 2024 (40 in 5+ unit buildings).

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.
• Clay County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.
• Current owner paid $150k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $171,089 (18.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.81% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.63%
• DSCR: 0.97
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $196,800
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3408 NE 67th St	0.14mi	3/1.5	1,244 (+4%)	9mo	$170,000	$137	78
3415 NE 69th St	0.32mi	3/2.5	1,232 (+3%)	18mo	$179,900	$146	64
3703 68th Ter	0.23mi	2/1.5 (-1)	1,280 (+7%)	14mo	$180,000	$141	60
6751 N Askew Cir	0.17mi	2/1.5 (-1)	1,056 (-12%)	8mo	$175,000	$166	59
3615 NE 68th Ter	0.22mi	2/1.5 (-1)	1,024 (-15%)	1mo	$165,000	$161	58
3619 NE 68th Ter	0.23mi	2/1.5 (-1)	1,024 (-15%)	3mo	$185,000	$181	55
7138 NE Kingston Ct	0.60mi	3/1.5	1,106 (-8%)	5mo	$184,900	$167	53
6811 N Askew Cir	0.21mi	2/1.5 (-1)	1,300 (+8%)	23mo	$175,000	$135	50
7199 NE Kingston Ct	0.64mi	2/2.0 (-1)	1,310 (+9%)	11mo	$245,000	$187	41
3727 NE 68th Ter	0.21mi	2/1.5 (-1)	1,024 (-15%)	22mo	$175,000	$171	40
3609 NE 68th Ter	0.23mi	2/1.5 (-1)	1,024 (-15%)	22mo	$168,000	$164	40

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 · 6.09% rent growth · sell at horizon

5-year hold

• IRR: -14.1%
• Equity multiple: 0.48×
• Total profit: $-30,540
• Equity at exit: $31,312

10-year hold

• IRR: -1.1%
• Equity multiple: 0.91×
• Total profit: $-5,230
• Equity at exit: $18,157

Cash invested: $58,800 (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 64119

• Rents YoY: 6.1%
• Active inventory: 183
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,711 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$143 /mo · $1,715/yr
• Insurance: −$88
• HOA: −$51
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $-31

Break-even live

Break-even rent $1,750

Max offer price $204,513

Occupancy floor 97%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3619 NE 68th Ter Kansas City, MO	2.0	2.0	1024	$1,600	$1.56	43d	1	0.20mi
2483 NE 68th St Kansas City, MO	2.0	2.0	928	$1,325	$1.43	4d	1	0.81mi
2404 NE 70th St Gladstone, MO	1.0–2.0	1.0–2.0	857	$1,075	$1.25	43d	1	0.85mi
2813 A NE Kendallwood Pkwy Gladstone, MO	1.0–3.0	1.0–2.5	1079	$1,895	$1.76	43d	1	1.20mi
2307 NE 59th St Kansas City, MO	3.0	1.0	1150	$1,710	$1.49	21d	1	1.30mi
1403 NE 67th Pl Kansas City, MO	3.0	1.0	1132	$1,626	$1.44	4d	1	1.45mi

HOA detail

• Monthly dues: $51 · $612/yr

Listing history 9 events

1. 2026-06-13
   statusdays on market $210,000 Pending 12 DOM
2. 2026-06-09
   days on market $210,000 Active 11 DOM
3. 2026-06-08
   days on market $210,000 Active 10 DOM
4. 2026-06-07
   days on market $210,000 Active 9 DOM
5. 2026-06-05
   days on market $210,000 Active 6 DOM
6. 2026-06-03
   days on market $210,000 Active 5 DOM
7. 2026-06-02
   days on market $210,000 Active 4 DOM
8. 2026-06-01
   days on market $210,000 Active 3 DOM
9. 2026-05-31
   days on market $210,000 Active 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 MO · Resets to sale price

• Current annual tax: $1,715 · $143/mo
• Projected year-2 tax: $2,037 · $170/mo
• Expected delta: +$322/yr (+$27/mo · 18.8%)

ⓘ 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: $20,531
• − Mortgage interest: −$11,763
• − Property taxes: −$1,715
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,642
• − Management: −$1,642
• − HOA: −$612
• − Depreciation: −$6,109
• Taxable loss: −$4,003
• Est. tax savings @ 24.0%: +$961
• After-tax cash flow: $588/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: North Kansas City 74
• NCES district ID: 2922800
• Math proficiency: 38% ▼ -11.00%
• Reading proficiency: 49% ▼ -3.00%
• Median HH income: $55,444
• Composite: 37.88/100
• National rank: #4321
• State rank: #98 of 324 in MO

Livability — Gladstone

• Score: 76/100
• State rank: #44
• US rank: #3612

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gladstone, MO
• County: Clay County · 220,651 people
• City population: 41,984
• Metro: Kansas City, MO-KS
• Population (ZIP): 33,199
• Household income: $83,929
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 603.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 266,022 people
• By 2030: 280,057 · +5.3%
• By 2040: 306,153 · +15.1%
• By 2050: 328,630 · +23.5%
• By 2075: 375,182 · +41.0%
• By 2100: 392,861 · +47.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 8% Two or more races 8% Black 7% Asian 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 2% Italian 2% Slovak 2%
• Foreign-born: 7% · Canada, Vietnam, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Clay

• 2024 margin: Lean R (+5.6) · D 46.4% · R 52.0% · Other 1.6%
• 2008→2024 swing: -4.9pp toward R · 2008: -0.7pp · 2024: -5.6pp
• All cycles: 2024: R+5.6 2020: R+4.1 2016: R+11.1 2012: R+8.4 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -253.39%
• Current HPI: 215.8366
• Rent YoY: ▲ 6.09%
• 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

+110.0% since first listed

8 events — show timeline

• 2026-05-29 Listed $210,000 Heartland MLS as Distributed by MLS Grid
• 2024-01-05 Sold (Public Records) $150,000 Public Records
• 2017-07-06 Sold (Public Records) — Public Records
• 2010-12-06 Sold (Public Records) — Public Records
• 2010-12-03 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2010-06-10 Listed $74,500 Heartland MLS as Distributed by MLS Grid
• 2002-04-29 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2002-02-21 Listed $99,999 Heartland MLS as Distributed by MLS Grid

Property tax history

+3.3%/yr

Latest (2025): $1,715 · +30.7% YoY. Source: county tax records.