1105 NW 104th St · Kansas City, MO 64155

$429,392

4 bd · 2.5 ba · 2,251 sqft · SingleFamily · 78 Days on market

10,683 sqft lot $191/sqft · 26% below area Est $581k · 26% under $88/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).

• ARV discount +15.0/15.0
• Cash flow +7.4/30.0
• Rent growth +4.2/5.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Custom build - sold before processed. MLS Selections may not reflect those of actual home.

Key facts

• 0.25 acre lot
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $429k.

Deal economics

• At list price, monthly cash flow is $-544 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $351k (18.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $318k (26.0% below list).
• Recommended offer: $318k (26.0% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.9% in Kansas City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• 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.
• Market conditions: Rents rising fast (+6.9%/yr); 248 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 341 units permitted in Clay County in 2024 (40 in 5+ unit buildings).
• This rent runs 39% of the median local income ($97k/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 $3k of loan paydown is wiped out by about $13k 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

• It's been on market 78 days — a 6% lower offer ($404k) is reasonable based on typical stale-listing flexibility.

Recommended offer $317,920 (26.0% 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. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.74% ✗
• Cap rate: 4.77%
• Cash-on-cash: -5.43%
• DSCR: 0.76
• GRM: 11.3

CMA / ARV

• ARV (median comp): $581,094
• List price: $429,392
• Delta: -26.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10621 N Jefferson St	0.43mi	4/2.5	2,251 (0%)	6mo	$461,896	$205	75
1713 NW 105th Ter	0.38mi	4/3.0	2,240 (-0%)	6mo	$479,680	$214	75
10509 N Mulberry St	0.16mi	4/3.5	2,471 (+10%)	1mo	$559,900	$227	72
10611 N Holly St	0.22mi	4/3.0	2,525 (+12%)	2mo	$590,000	$234	66
1748 NW 107th Ter	0.54mi	4/3.0	2,209 (-2%)	6mo	$529,900	$240	65
1603 NW 104th Ter	0.28mi	4/2.0	1,980 (-12%)	7mo	$424,765	$215	59
1715 NW 105th St	0.36mi	4/2.0	1,980 (-12%)	6mo	$399,440	$202	56
10527 N Jefferson St	0.41mi	4/3.5	2,475 (+10%)	6mo	$490,980	$198	55
10604 N Jefferson St	0.38mi	5/3.0 (+1)	2,538 (+13%)	6mo	$507,204	$200	49
10745 N Bell St	0.56mi	4/3.0	2,555 (+14%)	0mo	$655,000	$256	49
805 NW 109th Ter	0.69mi	3/2.5 (-1)	2,487 (+10%)	1mo	$385,000	$155	45
1106 NW 108th Ct NW Unit NA	0.59mi	4/3.5	2,581 (+15%)	6mo	$415,950	$161	39

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 · 6.92% rent growth · sell at horizon

5-year hold

• IRR: -21.1%
• Equity multiple: 0.24×
• Total profit: $-91,084
• Equity at exit: $64,024

10-year hold

• IRR: -7.3%
• Equity multiple: 0.46×
• Total profit: $-65,518
• Equity at exit: $37,126

Cash invested: $120,230 (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 64155

• Rents YoY: 6.9%
• Active inventory: 248
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $3,179 medium
• Mortgage (P&I): −$2,252
• Tax est. 1.5%: −$537 /mo · $6,441/yr
• Insurance: −$179
• HOA: −$88
• Vacancy / Maint / Mgmt: −$668
• Net cashflow: $-544

Break-even live

Break-even rent $3,868

Max offer price $350,694

Occupancy floor —

Sensitivity live

Price	-10% $-247	-5% $-395	+0% $-544	+5% $-692	+10% $-841
Rent	-10% $-795	-5% $-669	+0% $-544	+5% $-418	+10% $-293
Rate	-1.0pp $-328	-0.5pp $-435	base $-544	+0.5pp $-655	+1.0pp $-768

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: $107,348
• Closing costs: $12,882
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1304 NW 107th Ter Kansas City, MO	4.0	3.5	2647	$4,000	$1.51	2d	1	0.45mi
522 NW 110th St Kansas City, MO	3.0	3.0	2300	$3,000	$1.30	2d	1	0.84mi
1004 NW 113th St Kansas City, MO	4.0	2.5	2544	$3,000	$1.18	2d	1	1.22mi

HOA detail

• Monthly dues: $88 · $1,056/yr

Listing history 15 events

1. 2026-06-18
   days on market $429,392 Active 78 DOM
2. 2026-06-17
   days on market $429,392 Active 77 DOM
3. 2026-06-16
   days on market $429,392 Active 76 DOM
4. 2026-06-15
   days on market $429,392 Active 75 DOM
5. 2026-06-13
   days on market $429,392 Active 73 DOM
6. 2026-06-13
   days on market $429,392 Active 72 DOM
7. 2026-06-09
   days on market $429,392 Active 69 DOM
8. 2026-06-08
   days on market $429,392 Active 68 DOM
9. 2026-06-07
   days on market $429,392 Active 67 DOM
10. 2026-06-05
    days on market $429,392 Active 64 DOM
11. 2026-06-03
    days on market $429,392 Active 63 DOM
12. 2026-06-02
    days on market $429,392 Active 62 DOM
13. 2026-06-01
    days on market $429,392 Active 61 DOM
14. 2026-05-31
    days on market $429,392 Active 60 DOM
15. 2026-04-01
    listed $429,392 Active 90-char remark

    Show marketing remark (90 chars)

    Custom build - sold before processed. MLS Selections may not reflect those of actual home.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $38,150
• − Mortgage interest: −$24,053
• − Property taxes: −$6,441
• − Insurance: −$2,147
• − Repairs & maintenance: −$3,052
• − Management: −$3,052
• − HOA: −$1,056
• − Depreciation: −$12,491
• Taxable loss: −$14,142
• Est. tax savings @ 24.0%: +$3,394
• After-tax cash flow: $-3,132/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 — 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
• County: Clay County · 220,651 people
• City population: 439,467
• Metro: Kansas City, MO-KS
• Population (ZIP): 28,824
• Household income: $97,471
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 635.0

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 10% Black 8% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 4% Lithuanian 3% Iranian 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 3% Vietnamese 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: ▼ -234.09%
• Current HPI: 219.9706
• Rent YoY: ▲ 6.92%
• 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

1 event — show timeline

• 2026-04-01 Listed $429,392 Heartland MLS as Distributed by MLS Grid