3427 Wabash Ave · Kansas City, MO 64109

$109,900

4 bd · 1.0 ba · 2,104 sqft · SingleFamily public records · 129 Days on market

Built 1912 4,348 sqft lot $52/sqft · 40% below area Est $182k · 40% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.9/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This turn of the Century home is located in Commonwealth Add subdivision. With 2,104 square feet and 4 bedrooms 1 full bath you will want to bid on this home. Home has a basement with approx 839 square feet.

Key facts

• 4,348 sq ft lot
• Built 1912
• Listed 129 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $631 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.2% 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 (+9.5%/yr); 97 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $1,675/mo this rent would consume 48% of the median local household income ($42k/yr) (locally 853% 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 $760 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — 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. 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?
6. 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.
7. 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.
8. 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: 1.52% ✓
• Cap rate: 13.18%
• Cash-on-cash: 24.61%
• DSCR: 2.10
• GRM: 5.5

CMA / ARV

• ARV (median comp): $181,981
• List price: $109,900
• Delta: -39.61%
• 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
3428 College Ave	0.47mi	4/2.0	2,010 (-4%)	3mo	$204,900	$102	64
3237 Park Ave	0.24mi	3/3.0 (-1)	1,956 (-7%)	1mo	$178,000	$91	64
3714 Bellefontaine Ave	0.49mi	4/1.0	2,297 (+9%)	1mo	$110,000	$48	61
3549 Paseo Blvd	0.71mi	4/1.5	2,094 (-0%)	5mo	$85,000	$41	60
3041 Park Ave	0.48mi	4/2.0	2,283 (+8%)	1mo	$105,000	$46	59
3601 Park Ave	0.23mi	5/2.5 (+1)	2,353 (+12%)	1mo	$150,000	$64	58
3311 Askew Ave	0.70mi	4/2.0	2,174 (+3%)	1mo	$199,999	$92	57
1511 E 37th St	0.67mi	3/1.5 (-1)	2,103 (-0%)	6mo	$224,900	$107	57
3618 Olive St	0.26mi	3/1.5 (-1)	1,864 (-11%)	7mo	$152,900	$82	56
3218 Benton Blvd	0.48mi	4/2.5	1,854 (-12%)	0mo	$155,000	$84	52
3715 College Ave	0.61mi	3/2.0 (-1)	1,905 (-10%)	3mo	$199,900	$105	44
3301 Bales Ave	0.64mi	3/1.5 (-1)	2,354 (+12%)	5mo	$120,000	$51	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 2.01×
• Total profit: $31,231
• Equity at exit: $16,386

10-year hold

• IRR: 34.1%
• Equity multiple: 4.87×
• Total profit: $119,195
• Equity at exit: $9,502

Cash invested: $30,772 (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 64109

• Rents YoY: 9.5%
• Active inventory: 97
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,675 high
• Mortgage (P&I): −$576
• Tax from tax record: −$70 /mo · $843/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $631

Break-even live

Break-even rent $876

Max offer price $109,900

Occupancy floor 57%

Sensitivity live

Price	-10% $693	-5% $662	+0% $631	+5% $600	+10% $569
Rent	-10% $499	-5% $565	+0% $631	+5% $697	+10% $764
Rate	-1.0pp $687	-0.5pp $659	base $631	+0.5pp $603	+1.0pp $574

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3434 Olive St Kansas City, MO	3.0	2.0	2020	$1,445	$0.72	44d	1	0.11mi
3346 Agnes Ave Kansas City, MO	3.0	1.0	1400	$1,200	$0.86	8d	1	0.28mi
2018 E 35th St Kansas City, MO	3.0	2.0	1502	$1,800	$1.20	3d	1	0.29mi
2002 E 35th St Kansas City, MO	3.0	2.0	1426	$1,295	$0.91	8d	1	0.32mi
3317 Agnes Ave Kansas City, MO	5.0	2.0	2872	$1,795	$0.62	24d	1	0.33mi
3606 S Benton Ave Kansas City, MO	5.0	3.0	2800	$2,000	$0.71	44d	1	0.34mi
3630 Agnes Ave Kansas City, MO	3.0	2.0	1448	$1,500	$1.04	11d	1	0.42mi
3419 College Ave Kansas City, MO	4.0	1.0	1608	$1,300	$0.81	2d	1	0.49mi
3205 E 31st St Kansas City, MO	4.0	1.0	1800	$1,325	$0.74	24d	1	0.58mi
3902 Wabash Ave Kansas City, MO	4.0	2.0	1400	$1,850	$1.32	44d	1	0.60mi
3840 Bellefontaine Ave Kansas City, MO	3.0	1.0	1500	$1,500	$1.00	16d	1	0.67mi
3305 Askew Ave Kansas City, MO	3.0	1.5	1428	$1,450	$1.02	24d	1	0.69mi
3525 Monroe Ave Kansas City, MO	3.0	2.0	1569	$1,500	$0.96	44d	1	0.76mi
4018 Prospect Ave Kansas City, MO	4.0	1.5	1900	$1,695	$0.89	44d	1	0.76mi
3739 Bales Ave Kansas City, MO	3.0	2.0	1400	$1,575	$1.12	24d	1	0.76mi
3811 E 36th St Kansas City, MO	3.0	1.0	2590	$1,350	$0.52	44d	1	0.85mi
2723 Park Ave Kansas City, MO	5.0	3.0	2010	$1,875	$0.93	22d	1	0.86mi
2708 Olive St Kansas City, MO	4.0	2.0	1585	$1,500	$0.95	17d	1	0.88mi
4112 Park Ave Kansas City, MO	4.0	2.0	1700	$1,800	$1.06	15d	1	0.89mi
4119 S Benton Ave Kansas City, MO	4.0	2.0	1700	$1,800	$1.06	44d	1	0.93mi
2729 Grove St Kansas City, MO	3.0	2.0	1510	$1,375	$0.91	44d	1	1.08mi
4211 Woodland Ave Kansas City, MO	4.0	2.5	1926	$2,010	$1.04	16d	1	1.11mi
2846 Myrtle Ave Kansas City, MO	3.0	2.0	1705	$1,350	$0.79	16d	1	1.11mi
4219 Woodland Ave Kansas City, MO	4.0	2.0	1566	$1,900	$1.21	2d	1	1.14mi
912 E 31st St Kansas City, MO	5.0	1.5	2200	$1,800	$0.82	16d	1	1.14mi
908 E 31st St Kansas City, MO	5.0	1.5	2100	$1,800	$0.86	44d	1	1.15mi
3839 Harrison Blvd Kansas City, MO	5.0	2.5	2709	$2,950	$1.09	44d	1	1.15mi
4031 Campbell St Kansas City, MO	4.0	1.5	2074	$2,500	$1.21	16d	1	1.32mi
3333 Gillham Rd Kansas City, MO	4.0	2.0	1500	$2,000	$1.33	15d	1	1.36mi
4511 Park Ave Kansas City, MO	4.0	2.5	1915	$1,982	$1.03	24d	1	1.37mi
2629 Campbell St Kansas City, MO	5.0	3.0	2470	$3,850	$1.56	13d	1	1.44mi
2715 Holmes St Kansas City, MO	3.0	2.0	1848	$2,095	$1.13	16d	1	1.50mi

Listing history 17 events

1. 2026-06-18
   days on market $109,900 Active 129 DOM
2. 2026-06-17
   days on market $109,900 Active 128 DOM
3. 2026-06-16
   days on market $109,900 Active 127 DOM
4. 2026-06-15
   days on market $109,900 Active 126 DOM
5. 2026-06-13
   days on market $109,900 Active 124 DOM
6. 2026-06-09
   days on market $109,900 Active 120 DOM
7. 2026-06-08
   days on market $109,900 Active 119 DOM
8. 2026-06-07
   days on market $109,900 Active 118 DOM
9. 2026-06-05
   days on market $109,900 Active 115 DOM
10. 2026-06-03
    days on market $109,900 Active 114 DOM
11. 2026-06-02
    days on market $109,900 Active 113 DOM
12. 2026-06-01
    days on market $109,900 Active 112 DOM
13. 2026-05-31
    days on market $109,900 Active 111 DOM
14. 2026-03-04
    price $109,900 207-char remark

    Show marketing remark (207 chars)

    This turn of the Century home is located in Commonwealth Add subdivision. With 2,104 square feet and 4 bedrooms 1 full bath you will want to bid on this home. Home has a basement with approx 839 square feet.

15. 2026-02-09
    listed $104,500 Active 207-char remark

    Show marketing remark (207 chars)

    This turn of the Century home is located in Commonwealth Add subdivision. With 2,104 square feet and 4 bedrooms 1 full bath you will want to bid on this home. Home has a basement with approx 839 square feet.

16. 2024-08-09
    soldstatus
17. 1991-11-25
    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: $843 · $70/mo
• Projected year-2 tax: $1,066 · $89/mo
• Expected delta: +$223/yr (+$19/mo · 26.4%)

ⓘ 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,105
• − Mortgage interest: −$6,156
• − Property taxes: −$843
• − Insurance: −$550
• − Repairs & maintenance: −$1,608
• − Management: −$1,608
• − Depreciation: −$3,197
• Taxable income: $6,142
• Est. tax owed @ 24.0%: −$1,474
• After-tax cash flow: $6,100/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): 10,043
• Household income: $41,943
• Rent vs Own: 61.7% rent · 38.3% own
• Severe rent burden: 853.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 45% White 39% Hispanic / Latino 9% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 1% Romanian 1% Lithuanian 1%
• Foreign-born: 7% · Canada, Philippines, China
• Languages at home: 88% English-only · Spanish 5% Other Asian/Pacific 3% Arabic 1%

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: ▼ -275.12%
• Current HPI: 243.6094
• Rent YoY: ▲ 9.50%
• 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

+5.2% since first listed

4 events — show timeline

• 2026-03-04 Price Changed $109,900 Heartland MLS as Distributed by MLS Grid
• 2026-02-09 Listed $104,500 Heartland MLS as Distributed by MLS Grid
• 2024-08-09 Sold (Public Records) — Public Records
• 1991-11-25 Sold (Public Records) — Public Records

Property tax history

+6.0%/yr

Latest (2025): $843 · -36.4% YoY. Source: county tax records.