3102-3104 E 61st St · Kansas City, MO 64130

$175,000

4 bd · 2.0 ba · 1,768 sqft · MultiFamily public records · 24 Days on market

Built 1964 10,553 sqft lot $99/sqft · at area comps Est $183k · at est.

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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
• DSCR +10.0/10.0
• ARV discount +9.5/15.0
• 1% rule +8.6/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• 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

This is part of a portfolio, please see other listings MLS: 2610100, 2610095, 2610083, 2610079 'In its Present Condition' required with offer - Seller WILL NOT accept offers site unseen. This two unit investor special is a great opportunity for anyone that wants to put a little work in!

Key facts

• 0.24 acre lot
• Garage
• Built 1964

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $753 ($9k/yr) — positive. Per door: $377/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.8% 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: Rents rising fast (+4.4%/yr); 187 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $2,380/mo this rent would consume 68% of the median local household income ($42k/yr) (locally 1132% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• 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 + 4.4% rent growth), your $49k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 5 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: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,375 (1.5% below list)

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 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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 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: 1.36% ✓
• Cap rate: 11.84%
• Cash-on-cash: 19.81%
• DSCR: 1.88
• GRM: 6.1

CMA / ARV

• ARV (median comp): $182,971
• List price: $175,000
• Delta: -4.36%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3102-3104 E 61st St	0.00mi	4/2.0	1,768 (0%)	0mo	$175,000	$99	100
5754 Indiana Ave	0.38mi	4/—	1,800 (+2%)	8mo	$260,000	$144	73

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 · 4.42% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.47×
• Total profit: $23,050
• Equity at exit: $26,093

10-year hold

• IRR: 21.7%
• Equity multiple: 2.97×
• Total profit: $96,352
• Equity at exit: $15,131

Cash invested: $49,000 (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 64130

• Home prices YoY: -21.5%
• Rents YoY: 4.4%
• Active inventory: 187
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,380 high
• Mortgage (P&I): −$918
• Tax from tax record: −$81 /mo · $970/yr
• Insurance: −$73
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $753

Break-even live

Break-even rent $1,427

Max offer price $175,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,380
Total (2 units)			$2,380

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6328 College Ave Kansas City, MO	3.0	1.5	1856	$1,399	$0.75	4d	1	0.35mi
2811 E 58th St Kansas City, MO	4.0	1.0	1348	$1,473	$1.09	43d	1	0.37mi
5824 Wabash Ave Kansas City, MO	3.0	1.0	1276	$1,050	$0.82	43d	1	0.47mi
3861 E 60th St Kansas City, MO	3.0	2.0	1491	$1,250	$0.84	3d	1	0.60mi
5712 Garfield Ave Kansas City, MO	4.0	2.0	2200	$1,900	$0.86	17d	1	0.77mi
5708 Euclid Ave Kansas City, MO	4.0	2.0	1350	$1,600	$1.19	16d	1	0.83mi
2237 E 67th St Kansas City, MO	4.0	1.0	1300	$1,500	$1.15	16d	1	0.90mi
6821 Bales Ave Kansas City, MO	3.0	1.5	1430	$1,595	$1.12	19d	1	0.98mi
5414 Brooklyn Ave Kansas City, MO	3.0	1.5	1856	$1,650	$0.89	16d	1	0.99mi
5344 Brooklyn Ave Kansas City, MO	3.0	1.0	2040	$1,495	$0.73	7d	1	1.03mi
5524 Woodland Ave Kansas City, MO	3.0	1.0	1243	$1,095	$0.88	23d	1	1.04mi
5430 Michigan Ave Kansas City, MO	3.0	1.0	1710	$1,100	$0.64	19d	1	1.08mi
1850 E 68th Ter Kansas City, MO	4.0	2.0	1400	$1,600	$1.14	16d	1	1.16mi
5241 Brookwood Ave Kansas City, MO	3.0	2.0	1431	$1,550	$1.08	43d	1	1.23mi
5038 S Benton Ave Kansas City, MO	4.0	3.0	1500	$1,875	$1.25	21d	1	1.25mi
2420 E 51st St Kansas City, MO	3.0	2.0	1460	$1,350	$0.92	23d	1	1.28mi
5218 Highland Ave Kansas City, MO	5.0	2.0	2300	$1,995	$0.87	7d	1	1.35mi
6227 Rockhill Rd Kansas City, MO	4.0	2.0	2076	$1,995	$0.96	23d	1	1.43mi

Listing history 13 events

1. 2026-05-07
   status Pending 288-char remark

   Show marketing remark (288 chars)

   This is part of a portfolio, please see other listings MLS: 2610100, 2610095, 2610083, 2610079 'In its Present Condition' required with offer - Seller WILL NOT accept offers site unseen. This two unit investor special is a great opportunity for anyone that wants to put a little work in!

2. 2026-05-02
   status Active 288-char remark

   Show marketing remark (288 chars)

   This is part of a portfolio, please see other listings MLS: 2610100, 2610095, 2610083, 2610079 'In its Present Condition' required with offer - Seller WILL NOT accept offers site unseen. This two unit investor special is a great opportunity for anyone that wants to put a little work in!

3. 2026-04-21
   status Pending 288-char remark

   Show marketing remark (288 chars)

   This is part of a portfolio, please see other listings MLS: 2610100, 2610095, 2610083, 2610079 'In its Present Condition' required with offer - Seller WILL NOT accept offers site unseen. This two unit investor special is a great opportunity for anyone that wants to put a little work in!

4. 2026-04-03
   listed $175,000 Active 288-char remark

   Show marketing remark (288 chars)

   This is part of a portfolio, please see other listings MLS: 2610100, 2610095, 2610083, 2610079 'In its Present Condition' required with offer - Seller WILL NOT accept offers site unseen. This two unit investor special is a great opportunity for anyone that wants to put a little work in!

5. 2026-03-30
   historical $175,000 288-char remark

   Show marketing remark (288 chars)

   This is part of a portfolio, please see other listings MLS: 2610100, 2610095, 2610083, 2610079 'In its Present Condition' required with offer - Seller WILL NOT accept offers site unseen. This two unit investor special is a great opportunity for anyone that wants to put a little work in!

6. 2025-12-31
   historical
7. 2025-09-27
   listed $175,000 Active
8. 2006-06-05
   soldstatus
9. 2006-01-15
   listed $73,900
10. 2002-09-04
    soldstatus
11. 2002-09-04
    soldstatus
12. 2002-07-01
    listed $39,000
13. 1985-12-05
    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: $970 · $81/mo
• Projected year-2 tax: $1,698 · $141/mo
• Expected delta: +$728/yr (+$61/mo · 75.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% 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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,560
• − Mortgage interest: −$9,803
• − Property taxes: −$970
• − Insurance: −$1,542
• − Repairs & maintenance: −$2,285
• − Management: −$2,285
• − Depreciation: −$5,091
• Taxable income: $6,586
• Est. tax owed @ 24.0%: −$1,581
• After-tax cash flow: $7,458/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
• County: Jackson County · 687,798 people
• City population: 439,467
• Metro: Kansas City, MO-KS
• Population (ZIP): 19,644
• Household income: $42,221
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1132.0

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: Predominantly Black (80%)
• Race & ethnicity: Black 80% White 9% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 1% Swedish 0%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -73.32%
• Current HPI: 267.491
• Rent YoY: ▲ 4.42%
• 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

+348.7% since first listed

13 events — show timeline

• 2026-05-07 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-02 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-04-21 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-03 Listed $175,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-30 Coming Soon $175,000 Heartland MLS as Distributed by MLS Grid
• 2025-12-31 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-09-27 Listed $175,000 Heartland MLS as Distributed by MLS Grid
• 2006-06-05 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2006-01-15 Listed $73,900 Heartland MLS as Distributed by MLS Grid
• 2002-09-04 Sold (Public Records) — Public Records
• 2002-09-04 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2002-07-01 Listed $39,000 Heartland MLS as Distributed by MLS Grid
• 1985-12-05 Sold (Public Records) — Public Records

Property tax history

+5.6%/yr

Latest (2025): $970 · +10.5% YoY. Source: county tax records.