3021 Farrow Ave · Kansas City, KS 66104

$155,000

2 bd · 1.0 ba · 748 sqft · SingleFamily public records · 105 Days on market

Built 1930 4,356 sqft lot ↓ 3% since listing

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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 +22.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.2/10.0
• 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

THIS HOME HAS BEEN REHABBED FROM VIRTUALLY FROM TOP TO BOTTOM. YOU WOULD NOT WANT TO MISS THIS CUTIE PIE. NEW FURNACE AND A/C. THIS HOME IS PAINTED IN TODAY'S COLORS AND HAS BEAUTIFUL FLOORS. EXTERIOR HAS BEEN PAINTED AND NEWER SIDEWALKS HAVE BEEN LAID. CALL US TODAY

Key facts

• New furnace
• New ac
• Beautiful floors

Tags

• NEW FURNACE
• NEW AC
• BEAUTIFUL FLOORS

Property features AI

Finance

• Other: Living area reported as 748 (from public records); Age estimated at 76–100 years; City lot
• Financial info: Tax annual amount reported
• HOA & community: No association fees

Exterior

• Parking: Off-street parking
• Utilities: City/public water (verify); Public sewer
• Home design: Single family residence; Residential property; Bungalow style
• Construction: Wood siding; Composition roof
• Exterior features: Porch

Interior

• Kitchen: Kitchen (main level)
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Wood floors
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Bungalow floor plan; Kit/Dining combo
• Laundry & utility: Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $141k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: schools F, 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.
• Market conditions: 150 active listings in the ZIP; 369 units permitted in Wyandotte County in 2024 (236 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 $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.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $141,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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?
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. 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.
8. 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.
9. 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: 1.02% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.97%
• DSCR: 1.31
• GRM: 8.2

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: -5.6%
• Equity multiple: 0.79×
• Total profit: $-9,094
• Equity at exit: $23,111

10-year hold

• IRR: 4.0%
• Equity multiple: 1.29×
• Total profit: $12,654
• Equity at exit: $13,402

Cash invested: $43,400 (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 66104

• Home prices YoY: -20.1%
• Active inventory: 150
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,582 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$120 /mo · $1,441/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $252

Break-even live

Break-even rent $1,263

Max offer price $155,000

Occupancy floor 79%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $155,000 Active 105 DOM
2. 2026-06-17
   days on market $155,000 Active 104 DOM
3. 2026-06-16
   days on market $155,000 Active 103 DOM
4. 2026-06-15
   days on market $155,000 Active 102 DOM
5. 2026-06-13
   days on market $155,000 Active 100 DOM
6. 2026-06-13
   days on market $155,000 Active 99 DOM
7. 2026-06-09
   days on market $155,000 Active 96 DOM
8. 2026-06-08
   days on market $155,000 Active 95 DOM
9. 2026-06-07
   days on market $155,000 Active 94 DOM
10. 2026-06-05
    days on market $155,000 Active 91 DOM
11. 2026-06-03
    days on market $155,000 Active 90 DOM
12. 2026-06-02
    days on market $155,000 Active 89 DOM
13. 2026-06-01
    days on market $155,000 Active 88 DOM
14. 2026-05-31
    days on market $155,000 Active 87 DOM
15. 2026-05-09
    price $155,000
16. 2026-03-05
    listed $159,900 Active

ⓘ 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: $1,441 · $120/mo
• Projected year-2 tax: $2,186 · $182/mo
• Expected delta: +$744/yr (+$62/mo · 51.6%)

ⓘ 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,979
• − Mortgage interest: −$8,682
• − Property taxes: −$1,441
• − Insurance: −$775
• − Repairs & maintenance: −$1,518
• − Management: −$1,518
• − Depreciation: −$4,509
• Taxable income: $534
• Est. tax owed @ 24.0%: −$128
• After-tax cash flow: $2,895/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
• City population: 130,206
• Population (ZIP): 26,820

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 37% Black 32% White 20% Two or more races 15% Asian 5% Native American 3%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Iranian 1%
• Foreign-born: 20% · Canada, Philippines
• Languages at home: 61% English-only · Spanish 32% Other Asian/Pacific 4% Vietnamese 1%

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: ▼ -131.50%
• Current HPI: 523.3956
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-3.1% since first listed

2 events — show timeline

• 2026-05-09 Price Changed $155,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-05 Listed $159,900 Heartland MLS as Distributed by MLS Grid

Property tax history

+11.5%/yr

Latest (2025): $1,441 · +21.3% YoY. Source: county tax records.