3510 S Rogers Ln · Independence, MO 64055

$177,500

3 bd · 1.0 ba · 950 sqft · SingleFamily public records · 20 Days on market

Built 1962 7,735 sqft lot Est $192k · 8% under

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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 +15.7/30.0
• ARV discount +10.9/15.0
• DSCR +4.8/10.0
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• 1% rule +3.7/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

HAVE ACCEPTED OFFER! Waiting for Contract back from Seller. This is a must see for the price! Not much needed work here. .. three bed room one and a half baths, eat in kitchen, needs some appliances and finished basement needs flooring. Decorate to your style. Covered patio, nice fenced yard can be a gardener's paradise. Foreclosure, Selling "AS IS" Inspections are for buyer's knowledge only. Foreclosures do not have Seller's Disclosures. Secretary Of Veterans Affairs is the owner.

Key facts

• Fenced yard
• Eat in kitchen
• Finished basement

Tags

• EAT IN KITCHEN
• FINISHED BASEMENT
• COVERED PATIO
• FENCED YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $77 ($928/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (13.3% below list).
• Recommended offer: $154k (13.3% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 5.0% in Independence — 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 82/100 on livability (#10 in MO, #1,296 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D+, crime F.
• Independence 30 (suburban): math 26% / reading 38% proficiency, ranked #252 of 324 in MO (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sycamore Hills Elem. (math 42% / reading 47%, grade F, #413 of 1,115 statewide, top 42%, 543 students, 55% FRL); Truman High (math 18% / reading 34%, grade F, #430 of 521 statewide, top 83%, 1,662 students, 52% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents rising fast (+5.1%/yr); 200 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 4,002 units permitted in Jackson County in 2024 (2,271 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.
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y 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.

Recommended offer $153,837 (13.3% below list)

Questions for the listing agent

1. Built in 1962 — 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. 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?
4. 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?
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: 0.87% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.87%
• DSCR: 1.08
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $191,900
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3527 S Adams Ave	0.08mi	3/1.5	1,035 (+9%)	1mo	$195,000	$188	79
3506 S Haden Dr	0.11mi	3/2.0	1,028 (+8%)	3mo	$205,000	$199	74
15606 E 36th St S	0.27mi	3/1.0	912 (-4%)	8mo	$215,000	$236	74
3523 Drumm Ave	0.15mi	3/2.0	984 (+4%)	11mo	$219,000	$223	74
3526 Randall Dr	0.12mi	3/1.5	1,003 (+6%)	14mo	$203,000	$202	71
3805 S Adams Ave	0.33mi	3/1.5	912 (-4%)	14mo	$225,000	$247	64
3717 S Hocker St	0.65mi	3/2.0	920 (-3%)	1mo	$182,000	$198	60
3400 S Emery Ave	0.51mi	3/1.5	1,000 (+5%)	13mo	$185,000	$185	54
3620 S Dodgion Ave	0.73mi	3/1.0	1,000 (+5%)	4mo	$179,900	$180	54
15717 E 40th Ter S	0.70mi	3/1.0	984 (+4%)	12mo	$215,000	$218	52
3200 Queen Ridge Dr	0.71mi	3/1.5	981 (+3%)	12mo	$188,000	$192	49
3420 Queen Ridge Dr	0.70mi	3/2.0	1,048 (+10%)	13mo	$219,000	$209	35

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 · 5.09% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.59×
• Total profit: $-20,566
• Equity at exit: $26,466

10-year hold

• IRR: 0.6%
• Equity multiple: 1.05×
• Total profit: $2,451
• Equity at exit: $15,347

Cash invested: $49,700 (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 64055

• Rents YoY: 5.1%
• Active inventory: 200
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,538 high
• Mortgage (P&I): −$931
• Tax from tax record: −$133 /mo · $1,598/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $77

Break-even live

Break-even rent $1,440

Max offer price $177,500

Occupancy floor 90%

Sensitivity live

Price	-10% $178	-5% $128	+0% $77	+5% $27	+10% $-23
Rent	-10% $-44	-5% $17	+0% $77	+5% $138	+10% $199
Rate	-1.0pp $167	-0.5pp $122	base $77	+0.5pp $31	+1.0pp $-15

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: $44,375
• Closing costs: $5,325
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3605 S Stayton Ave Independence, MO	3.0	2.0	1078	$1,631	$1.51	8d	1	0.28mi
2905 S Lee's Summit Rd Independence, MO	1.0–3.0	1.0–2.0	853	$1,746	$2.05	2d	48	0.77mi
16301 E 29 St S Independence, MO	1.0–2.0	1.0	718	$1,400	$1.95	17d	16	0.92mi
3551 S Lynn St Unit 3551 Independence, MO	2.0	1.0	850	$899	$1.06	44d	1	0.99mi
16428 E 29th Street Ct S Unit B Independence, MO	2.0	1.5	826	$1,277	$1.55	24d	1	1.09mi
8061/2 E Devon St Independence, MO	2.0	1.0	824	$1,195	$1.45	8d	1	1.19mi
13511 E 41st Ter S Independence, MO	3.0	2.0	925	$1,530	$1.65	24d	1	1.24mi
3100 Quail Creek Dr Independence, MO	1.0–2.0	1.0	961	$1,330	$1.38	13d	1	1.26mi
16801 E Larkspur Ln Independence, MO	1.0–3.0	1.0–2.0	1125	$1,650	$1.47	2d	7	1.42mi
16801 E Larkspur Ln Independence, MO	1.0–3.0	1.0–2.0	1042	$1,549	$1.49	44d	26	1.42mi

Listing history 26 events

1. 2026-04-06
   status Pending
2. 2026-03-17
   listed $177,500 Active
3. 2024-09-30
   historical
4. 2024-08-30
   price $225,000
5. 2024-08-30
   listed $125,000 Active
6. 2024-05-31
   historical
7. 2024-05-09
   price $206,000
8. 2024-04-20
   price $209,900
9. 2024-03-06
   listed $212,900 Active
10. 2024-03-06
    historical
11. 2024-03-04
    listed $209,000 Active
12. 2022-12-30
    soldstatus
13. 2022-12-29
    soldstatus Closed
14. 2022-12-13
    historical Active Under Contract
15. 2022-12-08
    status Active
16. 2022-10-26
    status Pending
17. 2022-10-14
    listed $179,000 Active
18. 2013-10-07
    soldstatus
19. 2013-10-04
    soldstatus
20. 2013-08-29
    listed $64,950
21. 2012-11-15
    soldstatus
22. 2012-09-09
    listed $42,000
23. 2006-06-21
    soldstatus
24. 2006-06-20
    soldstatus
25. 2006-02-27
    listed $124,900
26. 1990-11-24
    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: $1,598 · $133/mo
• Projected year-2 tax: $1,722 · $143/mo
• Expected delta: +$124/yr (+$10/mo · 7.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 17 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: $18,460
• − Mortgage interest: −$9,943
• − Property taxes: −$1,598
• − Insurance: −$888
• − Repairs & maintenance: −$1,477
• − Management: −$1,477
• − Depreciation: −$5,164
• Taxable loss: −$2,085
• Est. tax savings @ 24.0%: +$500
• After-tax cash flow: $1,429/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: Independence 30
• NCES district ID: 2915480
• Math proficiency: 26% ▼ -8.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $41,843
• Composite: 27.04/100
• National rank: #7054
• State rank: #252 of 324 in MO

Livability — Independence

• Score: 82/100
• State rank: #10
• US rank: #1296

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, MO
• County: Jackson County · 687,798 people
• City population: 117,675
• Metro: Kansas City, MO-KS
• Population (ZIP): 35,960
• Household income: $62,439
• Rent vs Own: 30.4% rent · 69.6% own
• Severe rent burden: 1404.0

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 White (71%)
• Race & ethnicity: White 71% Black 13% Hispanic / Latino 10% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Italian 9% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4%

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: ▼ -180.54%
• Current HPI: 245.3636
• Rent YoY: ▲ 5.09%
• 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

+42.1% since first listed

26 events — show timeline

• 2026-04-06 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-03-17 Listed $177,500 Heartland MLS as Distributed by MLS Grid
• 2024-09-30 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-08-30 Price Changed $225,000 Heartland MLS as Distributed by MLS Grid
• 2024-08-30 Listed $125,000 Heartland MLS as Distributed by MLS Grid
• 2024-05-31 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-05-09 Price Changed $206,000 Heartland MLS as Distributed by MLS Grid
• 2024-04-20 Price Changed $209,900 Heartland MLS as Distributed by MLS Grid
• 2024-03-06 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-03-06 Listed $212,900 Heartland MLS as Distributed by MLS Grid
• 2024-03-04 Listed $209,000 Heartland MLS as Distributed by MLS Grid
• 2022-12-30 Sold (Public Records) — Public Records
• 2022-12-29 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2022-12-13 Contingent — Heartland MLS as Distributed by MLS Grid
• 2022-12-08 Relisted — Heartland MLS as Distributed by MLS Grid
• 2022-10-26 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-10-14 Listed $179,000 Heartland MLS as Distributed by MLS Grid
• 2013-10-07 Sold (Public Records) — Public Records
• 2013-10-04 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2013-08-29 Listed $64,950 Heartland MLS as Distributed by MLS Grid
• 2012-11-15 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2012-09-09 Listed $42,000 Heartland MLS as Distributed by MLS Grid
• 2006-06-21 Sold (Public Records) — Public Records
• 2006-06-20 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2006-02-27 Listed $124,900 Heartland MLS as Distributed by MLS Grid
• 1990-11-24 Sold (Public Records) — Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,598 · -36.1% YoY. Source: county tax records.