17800 E Bolger Rd #147 · Independence, MO 64055

$150,000

2 bd · 2.0 ba · 1,454 sqft · Condo public records · 161 Days on market

Built 1992 $103/sqft · 28% below area Est $207k · 28% under $360/mo HOA · 22% of rent ↓ 10% 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).

• ARV discount +15.0/15.0
• Cash flow +10.7/30.0
• 1% rule +6.1/10.0
• Schools +5.1/10.0
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come enjoy low-maintenance living at Apple Tree Manor, a secure 55+ community with private entry. This main-floor condo is conveniently located near the front entrance of Building A, eliminating the need to navigate stairs. Offering over 1,400 square feet, the spacious layout provides plenty of room to truly feel at home. Recent updates include newer carpet and a newer HVAC system. The unit also features secure underground parking with two dedicated spaces, easily accessible by elevator. Apple Tree Manor offers an impressive array of amenities designed to enhance your lifestyle, including a fitness center, a community room with a full kitchen, an extensive library, a puzzle room, and multiple gathering spaces throughout the building. Enjoy the scenic walking trail on warmer days or take part in community activities such as bingo, card games, potluck dinners, and more. Conveniently located near shopping, restaurants, and hospitals, Apple Tree Condos is a wonderful place to call home. Schedule your showing today!

Key facts

• Fitness center
• Community room
• Main floor condo

Tags

• MAIN FLOOR CONDO
• SECURE UNDERGROUND PARKING
• FITNESS CENTER
• COMMUNITY ROOM
• EXTENSIVE LIBRARY
• SCENIC WALKING TRAIL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-71 ($-855/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (8.4% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.

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: schools C-, employment D+, crime F.
• Blue Springs R-IV (suburban): math 55% / reading 60% proficiency, ranked #17 of 324 in MO (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.1%/yr); 200 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• This rent runs 32% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 161 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.11% ✓
• Cap rate: 5.72%
• Cash-on-cash: -2.04%
• DSCR: 0.91
• GRM: 7.5

CMA / ARV

• ARV (median comp): $207,294
• List price: $150,000
• Delta: -27.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.09% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.40×
• Total profit: $-25,018
• Equity at exit: $22,365

10-year hold

• IRR: -3.6%
• Equity multiple: 0.73×
• Total profit: $-11,296
• Equity at exit: $12,969

Cash invested: $42,000 (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 64055

• Rents YoY: 5.1%
• Active inventory: 200
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,669 high
• Mortgage (P&I): −$787
• Tax from tax record: −$181 /mo · $2,170/yr
• Insurance: −$62
• HOA: −$360
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $-71

Break-even live

Break-even rent $1,759

Max offer price $137,416

Occupancy floor 99%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3926 S Redwood Dr Independence, MO	2.0	1.0	945	$1,050	$1.11	24d	1	0.41mi
4020 S Crackerneck Rd Independence, MO	3.0	3.0	1488	$2,200	$1.48	2d	1	0.53mi
16816 E 31st St S Independence, MO	3.0	2.5	1696	$1,749	$1.03	2d	1	0.76mi
3023 S Shrank Rd Independence, MO	2.0	2.5	1800	$1,662	$0.92	2d	1	0.76mi
16700 E 31st Ter S Independence, MO	3.0	2.0	1639	$2,150	$1.31	19d	1	0.84mi
19012 E 37th Ter S Independence, MO	1.0–2.0	1.0–2.0	936	$1,515	$1.62	2d	1	0.87mi
4580 Bass Pro Dr Independence, MO	1.0–2.0	1.0–2.0	1114	$1,829	$1.64	2d	10	0.97mi
16421 E 29th Ter S Independence, MO	3.0	2.0	1225	$1,606	$1.31	44d	1	1.13mi
3950 S Jackson Dr Independence, MO	1.0–2.0	1.0–2.0	886	$1,495	$1.69	2d	30	1.13mi
19501 E 31st Terrace Dr S Independence, MO	2.0	2.0	1457	$2,016	$1.38	2d	22	1.20mi
19204 E 31st Ter S Independence, MO	3.0	2.0	1206	$2,020	$1.67	44d	1	1.21mi
16801 E Larkspur Ln Independence, MO	1.0–3.0	1.0–2.0	1125	$1,348	$1.20	2d	7	1.24mi
16801 E Larkspur Ln Independence, MO	1.0–3.0	1.0–2.0	1042	$1,252	$1.20	44d	26	1.24mi
3605 S Stayton Ave Independence, MO	3.0	2.0	1078	$1,631	$1.51	7d	1	1.26mi
19700 E 39th Pl Independence, MO	1.0–2.0	1.0–2.0	832	$1,697	$2.04	2d	7	1.29mi
2905 S Lee's Summit Rd Independence, MO	1.0–3.0	1.0–2.0	853	$1,330	$1.56	2d	48	1.31mi
2916 Iva Dr Independence, MO	3.0	1.5	1480	$2,100	$1.42	44d	1	1.33mi
2972 Iva Dr Independence, MO	3.0	2.0	1442	$2,005	$1.39	44d	1	1.36mi

HOA detail condo

• Monthly dues: $360 · $4,320/yr
• Likely covers: gym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-13
   statusdays on market $150,000 Pending 161 DOM
2. 2026-06-09
   days on market $150,000 Active 160 DOM
3. 2026-06-08
   days on market $150,000 Active 159 DOM
4. 2026-06-07
   days on market $150,000 Active 158 DOM
5. 2026-06-05
   days on market $150,000 Active 155 DOM
6. 2026-06-03
   days on market $150,000 Active 154 DOM
7. 2026-06-02
   days on market $150,000 Active 153 DOM
8. 2026-06-01
   days on market $150,000 Active 152 DOM
9. 2026-05-31
   days on market $150,000 Active 151 DOM
10. 2026-04-29
    price $190,000 1026-char remark

    Show marketing remark (1026 chars)

    Come enjoy low-maintenance living at Apple Tree Manor, a secure 55+ community with private entry. This main-floor condo is conveniently located near the front entrance of Building A, eliminating the need to navigate stairs. Offering over 1,400 square feet, the spacious layout provides plenty of room to truly feel at home. Recent updates include newer carpet and a newer HVAC system. The unit also features secure underground parking with two dedicated spaces, easily accessible by elevator. Apple Tree Manor offers an impressive array of amenities designed to enhance your lifestyle, including a fitness center, a community room with a full kitchen, an extensive library, a puzzle room, and multiple gathering spaces throughout the building. Enjoy the scenic walking trail on warmer days or take part in community activities such as bingo, card games, potluck dinners, and more. Conveniently located near shopping, restaurants, and hospitals, Apple Tree Condos is a wonderful place to call home. Schedule your showing today!

11. 2026-03-30
    price $195,000 1026-char remark

    Show marketing remark (1026 chars)

    Come enjoy low-maintenance living at Apple Tree Manor, a secure 55+ community with private entry. This main-floor condo is conveniently located near the front entrance of Building A, eliminating the need to navigate stairs. Offering over 1,400 square feet, the spacious layout provides plenty of room to truly feel at home. Recent updates include newer carpet and a newer HVAC system. The unit also features secure underground parking with two dedicated spaces, easily accessible by elevator. Apple Tree Manor offers an impressive array of amenities designed to enhance your lifestyle, including a fitness center, a community room with a full kitchen, an extensive library, a puzzle room, and multiple gathering spaces throughout the building. Enjoy the scenic walking trail on warmer days or take part in community activities such as bingo, card games, potluck dinners, and more. Conveniently located near shopping, restaurants, and hospitals, Apple Tree Condos is a wonderful place to call home. Schedule your showing today!

12. 2026-01-27
    price $200,000 1026-char remark

    Show marketing remark (1026 chars)

    Come enjoy low-maintenance living at Apple Tree Manor, a secure 55+ community with private entry. This main-floor condo is conveniently located near the front entrance of Building A, eliminating the need to navigate stairs. Offering over 1,400 square feet, the spacious layout provides plenty of room to truly feel at home. Recent updates include newer carpet and a newer HVAC system. The unit also features secure underground parking with two dedicated spaces, easily accessible by elevator. Apple Tree Manor offers an impressive array of amenities designed to enhance your lifestyle, including a fitness center, a community room with a full kitchen, an extensive library, a puzzle room, and multiple gathering spaces throughout the building. Enjoy the scenic walking trail on warmer days or take part in community activities such as bingo, card games, potluck dinners, and more. Conveniently located near shopping, restaurants, and hospitals, Apple Tree Condos is a wonderful place to call home. Schedule your showing today!

13. 2025-12-31
    listed $210,000 Active 1026-char remark

    Show marketing remark (1026 chars)

    Come enjoy low-maintenance living at Apple Tree Manor, a secure 55+ community with private entry. This main-floor condo is conveniently located near the front entrance of Building A, eliminating the need to navigate stairs. Offering over 1,400 square feet, the spacious layout provides plenty of room to truly feel at home. Recent updates include newer carpet and a newer HVAC system. The unit also features secure underground parking with two dedicated spaces, easily accessible by elevator. Apple Tree Manor offers an impressive array of amenities designed to enhance your lifestyle, including a fitness center, a community room with a full kitchen, an extensive library, a puzzle room, and multiple gathering spaces throughout the building. Enjoy the scenic walking trail on warmer days or take part in community activities such as bingo, card games, potluck dinners, and more. Conveniently located near shopping, restaurants, and hospitals, Apple Tree Condos is a wonderful place to call home. Schedule your showing today!

14. 2011-09-28
    soldstatus
15. 1993-02-05
    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: $2,170 · $181/mo
• Projected year-2 tax: $2,170 · $181/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥108°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: $20,031
• − Mortgage interest: −$8,402
• − Property taxes: −$2,170
• − Insurance: −$750
• − Repairs & maintenance: −$1,602
• − Management: −$1,602
• − HOA: −$4,320
• − Depreciation: −$4,364
• Taxable loss: −$3,180
• Est. tax savings @ 24.0%: +$763
• After-tax cash flow: $-92/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: Blue Springs R-IV
• NCES district ID: 2905310
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 60% ▼ -6.00%
• Median HH income: $67,959
• Composite: 50.71/100
• National rank: #1819
• State rank: #17 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

-9.5% since first listed

6 events — show timeline

• 2026-04-29 Price Changed $190,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-30 Price Changed $195,000 Heartland MLS as Distributed by MLS Grid
• 2026-01-27 Price Changed $200,000 Heartland MLS as Distributed by MLS Grid
• 2025-12-31 Listed $210,000 Heartland MLS as Distributed by MLS Grid
• 2011-09-28 Sold (Public Records) — Public Records
• 1993-02-05 Sold (Public Records) — Public Records

Property tax history

+3.0%/yr

Latest (2025): $2,170 · +5.4% YoY. Source: county tax records.