915 Homestead Ave · Excelsior Springs, MO 64024

$59,000

2 bd · 1.0 ba · 822 sqft · SingleFamily public records · 1 Days on market

Built 1930 6,098 sqft lot $72/sqft · 57% 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
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice rental or entry level first time buyers. The following are new: Carpet, siding, deck & stairs, guttering, furnace, ceramic tile in kitchen & bath, sink, toilet, tub & shower, ceiling fan in living room, all kitchen cabinets & sink. Most all plumbing has been replaced, as well as main drain from kitchen to outside connection. All lighting, water heater and most drywall as well. Roof new about 3-5 years ago. New electrical panel & 2 windows. Lots of new insulation added throughout home. Seller related to agent. Seller took over rehab from previous owner. Being sold in as is condition. Some aesthetic & cosmetic items still need your personal touches. Taxes are estimated. All permits pulled and executed per Excelsior Springs criteria.

Key facts

• 6,098 sq ft lot
• Built 1930

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property; Ranch single-story; Above-grade living area approximately 822 (public records)
• Construction: Wood siding exterior; Composition roof
• Exterior features: Deck; Partial fencing; City lot

Interior

• Kitchen: Built-in features; Ceramic tile floors
• Bedrooms: 2 bedrooms (both on the first floor)
• Flooring: Carpet in main living areas and bedrooms; Ceramic tile in kitchen, breakfast area, bathroom and laundry
• Bathrooms: 1 full bathroom (first floor) with ceramic tiles and shower-over-tub
• Heating & cooling: Natural gas heating; Electric cooling
• Interior features: Ranch floor plan; Crawl space basement; Breakfast area
• Laundry & utility: Laundry located in the bathroom; Ceramic tile floors in laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $557 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Cap rate 17.6% vs local median 4.6% in Excelsior Springs — 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 67/100 on livability (#228 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D+, amenities F.
• Excelsior Springs 40 (town): math 27% / reading 40% proficiency, ranked #225 of 324 in MO (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 122 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $408 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 28y ago; this cycle's ask is 48% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

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

Recommended offer $59,000

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 2.06% ✓
• Cap rate: 17.62%
• Cash-on-cash: 40.45%
• DSCR: 2.80
• GRM: 4.1

CMA / ARV

• ARV (median comp): $137,143
• List price: $59,000
• Delta: -56.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
915 Homestead Ave	0.00mi	2/1.0	822 (0%)	1mo	$59,000	$72	99
105 Melwood St	0.30mi	3/1.0 (+1)	864 (+5%)	12mo	$140,000	$162	63
102 Berton Rd	0.26mi	3/1.0 (+1)	840 (+2%)	23mo	$125,000	$149	60
305 Saratoga Ave	0.38mi	3/1.0 (+1)	840 (+2%)	16mo	$100,000	$119	60
103 Ash St	0.50mi	2/1.0	852 (+4%)	22mo	$115,000	$135	52
714 St Louis Ave	0.75mi	2/1.0	816 (-1%)	16mo	$94,900	$116	51
702 Centralia St	0.69mi	2/1.0	784 (-5%)	13mo	$130,000	$166	50
729 Hazel St	0.55mi	3/1.0 (+1)	894 (+9%)	7mo	$45,000	$50	48
600 Centralia Ave	0.68mi	3/1.0 (+1)	880 (+7%)	7mo	$185,000	$210	46
128 Wildwood Ave	0.72mi	2/1.0	920 (+12%)	3mo	$115,000	$125	44
120 Wildwood Ave	0.73mi	2/1.0	720 (-12%)	7mo	$130,000	$181	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.9%
• Equity multiple: 2.57×
• Total profit: $25,924
• Equity at exit: $8,797

10-year hold

• IRR: 43.5%
• Equity multiple: 5.13×
• Total profit: $68,307
• Equity at exit: $5,101

Cash invested: $16,520 (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 64024

• Home prices YoY: -15.3%
• Active inventory: 122
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,214 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$68 /mo · $815/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $557

Break-even live

Break-even rent $509

Max offer price $59,000

Occupancy floor 49%

Sensitivity live

Price	-10% $590	-5% $574	+0% $557	+5% $540	+10% $524
Rent	-10% $461	-5% $509	+0% $557	+5% $605	+10% $653
Rate	-1.0pp $587	-0.5pp $572	base $557	+0.5pp $542	+1.0pp $526

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 South St Excelsior Springs, MO	1.0	1.0	602	$900	$1.49	3d	2	0.52mi
317 Woods St Excelsior Springs, MO	2.0	1.0	884	$1,350	$1.53	3d	1	1.11mi
410 N Titus Ave Excelsior Springs, MO	3.0	2.0	910	$1,476	$1.62	45d	1	1.14mi
1406 Magnolia W Excelsior Springs, MO	2.0	1.0	750	$895	$1.19	22d	2	1.25mi

Listing history 16 events

1. 2026-05-05
   status Pending 473-char remark
2. 2026-04-24
   historical $59,000 473-char remark
3. 2018-03-29
   soldstatus Sold 781-char remark

   Show marketing remark (781 chars)

   Nice rental or entry level first time buyers. The following are new: Carpet, siding, deck & stairs, guttering, furnace, ceramic tile in kitchen & bath, sink, toilet, tub & shower, ceiling fan in living room, all kitchen cabinets & sink. Most all plumbing has been replaced, as well as main drain from kitchen to outside connection. All lighting, water heater and most drywall as well. Roof new about 3-5 years ago. New electrical panel & 2 windows. Lots of new insulation added throughout home. Seller related to agent. Seller took over rehab from previous owner. Being sold in as is condition. Some aesthetic & cosmetic items still need your personal touches. Taxes are estimated. All permits pulled and executed per Excelsior Springs criteria.

4. 2018-02-11
   status Pending 781-char remark

   Show marketing remark (781 chars)

   Nice rental or entry level first time buyers. The following are new: Carpet, siding, deck & stairs, guttering, furnace, ceramic tile in kitchen & bath, sink, toilet, tub & shower, ceiling fan in living room, all kitchen cabinets & sink. Most all plumbing has been replaced, as well as main drain from kitchen to outside connection. All lighting, water heater and most drywall as well. Roof new about 3-5 years ago. New electrical panel & 2 windows. Lots of new insulation added throughout home. Seller related to agent. Seller took over rehab from previous owner. Being sold in as is condition. Some aesthetic & cosmetic items still need your personal touches. Taxes are estimated. All permits pulled and executed per Excelsior Springs criteria.

5. 2018-02-09
   listed $40,000 Active 781-char remark

   Show marketing remark (781 chars)

   Nice rental or entry level first time buyers. The following are new: Carpet, siding, deck & stairs, guttering, furnace, ceramic tile in kitchen & bath, sink, toilet, tub & shower, ceiling fan in living room, all kitchen cabinets & sink. Most all plumbing has been replaced, as well as main drain from kitchen to outside connection. All lighting, water heater and most drywall as well. Roof new about 3-5 years ago. New electrical panel & 2 windows. Lots of new insulation added throughout home. Seller related to agent. Seller took over rehab from previous owner. Being sold in as is condition. Some aesthetic & cosmetic items still need your personal touches. Taxes are estimated. All permits pulled and executed per Excelsior Springs criteria.

6. 2017-03-31
   soldstatus Sold

   Show marketing remark (290 chars)

   2 bedroom 1 bath Ranch style home with deck and off street parking. Close to shopping and dining. This is a Fannie Mae Property. No Seller's Disclosures, Seller Addendums apply after contract is accepted. Taxes and square footage approximate. Buyer’s Agent to Verify All Information.

7. 2017-03-27
   status Pending

   Show marketing remark (290 chars)

   2 bedroom 1 bath Ranch style home with deck and off street parking. Close to shopping and dining. This is a Fannie Mae Property. No Seller's Disclosures, Seller Addendums apply after contract is accepted. Taxes and square footage approximate. Buyer’s Agent to Verify All Information.

8. 2017-03-03
   price $11,700

   Show marketing remark (290 chars)

   2 bedroom 1 bath Ranch style home with deck and off street parking. Close to shopping and dining. This is a Fannie Mae Property. No Seller's Disclosures, Seller Addendums apply after contract is accepted. Taxes and square footage approximate. Buyer’s Agent to Verify All Information.

9. 2017-02-01
   listed $12,900 Active

   Show marketing remark (290 chars)

   2 bedroom 1 bath Ranch style home with deck and off street parking. Close to shopping and dining. This is a Fannie Mae Property. No Seller's Disclosures, Seller Addendums apply after contract is accepted. Taxes and square footage approximate. Buyer’s Agent to Verify All Information.

10. 2004-05-28
    soldstatus
11. 2004-03-05
    listed $41,000
12. 2004-01-09
    soldstatus
13. 2003-09-02
    listed $39,000
14. 1998-08-28
    soldstatus
15. 1998-08-26
    soldstatus
16. 1998-04-18
    listed $29,500

ⓘ 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: $815 · $68/mo
• Projected year-2 tax: $815 · $68/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,565
• − Mortgage interest: −$3,305
• − Property taxes: −$815
• − Insurance: −$295
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$1,716
• Taxable income: $6,103
• Est. tax owed @ 24.0%: −$1,465
• After-tax cash flow: $5,218/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: Excelsior Springs 40
• NCES district ID: 2911650
• Math proficiency: 27% ▼ -6.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $52,747
• Composite: 29.32/100
• National rank: #6548
• State rank: #225 of 324 in MO

Livability — Excelsior Springs

• Score: 67/100
• State rank: #228
• US rank: #11166

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Excelsior Springs, MO
• County: Clay County · 220,651 people
• City population: 15,574
• Metro: Kansas City, MO-KS
• Population (ZIP): 15,574
• Household income: $77,895
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 329.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 7% Hispanic / Latino 6% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 4% Cuban 2%
• Common ancestry: Italian 2% Serbian 2% Portuguese 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -54.83%
• Current HPI: 302.9184
• Rent YoY: —
• 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

+100.0% since first listed

18 events — show timeline

• 2026-06-01 Sold (Public Records) — Public Records
• 2026-05-29 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2026-05-05 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-24 Coming Soon $59,000 Heartland MLS as Distributed by MLS Grid
• 2018-03-29 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2018-02-11 Pending — Heartland MLS as Distributed by MLS Grid
• 2018-02-09 Listed $40,000 Heartland MLS as Distributed by MLS Grid
• 2017-03-31 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2017-03-27 Pending — Heartland MLS as Distributed by MLS Grid
• 2017-03-03 Price Changed $11,700 Heartland MLS as Distributed by MLS Grid
• 2017-02-01 Listed $12,900 Heartland MLS as Distributed by MLS Grid
• 2004-05-28 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2004-03-05 Listed $41,000 Heartland MLS as Distributed by MLS Grid
• 2004-01-09 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2003-09-02 Listed $39,000 Heartland MLS as Distributed by MLS Grid
• 1998-08-28 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 1998-08-26 Sold (Public Records) — Public Records
• 1998-04-18 Listed $29,500 Heartland MLS as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $815 · +11.7% YoY. Source: county tax records.