7024 N Pennsylvania Ave · Kansas City, MO 64118

$220,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 10 Days on market

Built 1966 0.31 ac lot $229/sqft · 11% below area Est $247k · 11% 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).

• ARV discount +12.4/15.0
• Cash flow +10.2/30.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +3.3/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Raised ranch gem located in well desired Hamilton Heights West Subdivision. This beautifully remodeled home features hardwood floor throughout the main level. After a long day at work, relax on your back deck to unwind. Enjoy entertaining, Great! This home has plenty of green space to invite friends over, BBQ, and play some washers during those summer evenings. This home has an unfinished basement that is a blank canvas for your fresh ideas and its already stubbed for a bath.

Key facts

• 0.31 acre lot
• Garage
• Built 1966

Property features AI

Finance

• Other: Living area recorded as 960 (above grade); Age approximately 51–75 years

Exterior

• Parking: Attached garage that faces the front; 1-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property; Raised ranch; Located inside city limits
• Construction: Board & batten siding and stucco exterior; Composition roof
• Exterior features: Deck; City lot within city limits; Level lot; Paved road with public maintenance

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Exhaust fan; Stainless steel appliances; Eat-in kitchen; Linoleum in kitchen
• Bedrooms: 3 bedrooms (all on the main/first floor; main floor primary bedroom)
• Flooring: Laminate; Wood
• Bathrooms: 1 full bath with ceramic tile and shower-over-tub; 1 half bath
• Heating & cooling: Natural gas heating; Electric cooling
• Interior features: Painted cabinets; Raised ranch floor plan; Smoke detector(s)
• Laundry & utility: Laundry room in basement; Dryer hookup (electric)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (9.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (26.1% below list).
• Recommended offer: $163k (26.1% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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: crime F.
• North Kansas City 74 (urban): math 38% / reading 49% proficiency, ranked #98 of 324 in MO (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Linden West Elementary (math 38% / reading 45%, grade F, #517 of 1,115 statewide, top 46%, 447 students, 60% FRL); Oak Park High (math 36% / reading 56%, grade D-, #170 of 521 statewide, top 33%, 1,756 students, 42% FRL).
• Market conditions: Rents rising (+3.2%/yr); 183 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 $162,573 (26.1% 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. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.74% ✗
• Cap rate: 5.62%
• Cash-on-cash: -2.41%
• DSCR: 0.89
• GRM: 11.3

CMA / ARV

• ARV (median comp): $246,940
• List price: $220,000
• Delta: -10.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7007 N Pennsylvania Ave	0.05mi	3/1.5	960 (0%)	15mo	$234,000	$244	84
6906 N Pennsylvania Ave	0.12mi	3/2.0	960 (0%)	12mo	$235,000	$245	80
7363 N Mulberry St	0.53mi	3/2.0	978 (+2%)	10mo	$243,000	$248	59
103 NE 67th St	0.69mi	2/1.0 (-1)	988 (+3%)	8mo	$219,950	$223	51
7505 N Wyandotte St	0.66mi	3/2.0	920 (-4%)	17mo	$260,000	$283	44
6709 N Broadway St	0.39mi	3/1.5	1,104 (+15%)	16mo	$234,950	$213	42
205 NE 73rd St	0.66mi	3/1.0	1,060 (+10%)	22mo	$215,000	$203	34
105 NE 73rd St	0.59mi	3/1.5	1,088 (+13%)	18mo	$245,000	$225	33

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 · 3.2% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.30×
• Total profit: $-43,249
• Equity at exit: $32,803

10-year hold

• IRR: -12.8%
• Equity multiple: 0.24×
• Total profit: $-46,641
• Equity at exit: $19,022

Cash invested: $61,600 (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 64118

• Rents YoY: 3.2%
• Active inventory: 183
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,626 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$163 /mo · $1,953/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $-124

Break-even live

Break-even rent $1,782

Max offer price $198,136

Occupancy floor —

Sensitivity live

Price	-10% $1	-5% $-61	+0% $-124	+5% $-186	+10% $-248
Rent	-10% $-252	-5% $-188	+0% $-124	+5% $-60	+10% $5
Rate	-1.0pp $-13	-0.5pp $-68	base $-124	+0.5pp $-181	+1.0pp $-239

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8800 N Ames Ave Kansas City, MO	1.0–2.0	1.0–2.0	1069	$1,969	$1.84	2d	28	0.77mi
450 NE 68th St Kansas City, MO	1.0–2.0	1.0–1.5	835	$1,305	$1.56	3d	17	0.80mi
6943 N Bedford Ave Kansas City, MO	1.0–3.0	1.0–3.0	1257	$2,450	$1.95	24d	6	0.88mi
1428 NW 64th Ter Kansas City, MO	2.0	1.0	960	$1,345	$1.40	8d	1	0.93mi
325 NW 62nd Ter Kansas City, MO	2.0	1.0	780	$1,150	$1.47	24d	1	1.06mi
910 NW 79th Ter Kansas City, MO	1.0–2.0	1.0–2.0	805	$1,400	$1.74	3d	18	1.16mi
6024 N Jefferson St Kansas City, MO	1.0–3.0	1.0–2.0	1109	$1,595	$1.44	3d	11	1.20mi
8300 N Hickory St Kansas City, MO	1.0–3.0	1.0–2.0	882	$1,665	$1.89	5d	47	1.38mi
8101 N Thomas Meyers Dr Kansas City, MO	1.0–3.0	1.0–2.0	1014	$1,450	$1.43	44d	1	1.46mi
410 NE 81st St Unit 410 Kansas City, MO	2.0	1.0	900	$1,500	$1.67	24d	1	1.47mi

Listing history 19 events

1. 2026-06-18
   days on market $220,000 Active 10 DOM
2. 2026-06-17
   days on market $220,000 Active 9 DOM
3. 2026-06-16
   days on market $220,000 Active 8 DOM
4. 2026-06-15
   days on market $220,000 Active 7 DOM
5. 2026-06-13
   days on market $220,000 Active 5 DOM
6. 2026-06-13
   days on market $220,000 Active 4 DOM
7. 2026-06-09
   statusdays on market $220,000 Active 1 DOM
8. 2026-06-08
   days on market $220,000 Coming Soon 46 DOM
9. 2026-06-07
   days on market $220,000 Coming Soon 45 DOM
10. 2026-06-05
    days on market $220,000 Coming Soon 42 DOM
11. 2026-06-03
    days on market $220,000 Coming Soon 41 DOM
12. 2026-06-02
    days on market $220,000 Coming Soon 40 DOM
13. 2026-06-01
    days on market $220,000 Coming Soon 39 DOM
14. 2026-05-31
    days on market $220,000 Coming Soon 38 DOM
15. 2026-04-23
    historical $220,000 463-char remark
16. 2019-09-25
    soldstatus
17. 2019-09-24
    soldstatus Sold 480-char remark

    Show marketing remark (480 chars)

    Raised ranch gem located in well desired Hamilton Heights West Subdivision. This beautifully remodeled home features hardwood floor throughout the main level. After a long day at work, relax on your back deck to unwind. Enjoy entertaining, Great! This home has plenty of green space to invite friends over, BBQ, and play some washers during those summer evenings. This home has an unfinished basement that is a blank canvas for your fresh ideas and its already stubbed for a bath.

18. 2019-07-29
    historical Contingent - Accepting Backup Offers 480-char remark

    Show marketing remark (480 chars)

    Raised ranch gem located in well desired Hamilton Heights West Subdivision. This beautifully remodeled home features hardwood floor throughout the main level. After a long day at work, relax on your back deck to unwind. Enjoy entertaining, Great! This home has plenty of green space to invite friends over, BBQ, and play some washers during those summer evenings. This home has an unfinished basement that is a blank canvas for your fresh ideas and its already stubbed for a bath.

19. 2019-07-21
    listed $129,900 Active 480-char remark

    Show marketing remark (480 chars)

    Raised ranch gem located in well desired Hamilton Heights West Subdivision. This beautifully remodeled home features hardwood floor throughout the main level. After a long day at work, relax on your back deck to unwind. Enjoy entertaining, Great! This home has plenty of green space to invite friends over, BBQ, and play some washers during those summer evenings. This home has an unfinished basement that is a blank canvas for your fresh ideas and its already stubbed for a bath.

ⓘ 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: $1,953 · $163/mo
• Projected year-2 tax: $2,134 · $178/mo
• Expected delta: +$181/yr (+$15/mo · 9.3%)

ⓘ 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 2/10 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,509
• − Mortgage interest: −$12,323
• − Property taxes: −$1,953
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,561
• − Management: −$1,561
• − Depreciation: −$6,400
• Taxable loss: −$5,389
• Est. tax savings @ 24.0%: +$1,293
• After-tax cash flow: $-192/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: North Kansas City 74
• NCES district ID: 2922800
• Math proficiency: 38% ▼ -11.00%
• Reading proficiency: 49% ▼ -3.00%
• Median HH income: $55,444
• Composite: 37.88/100
• National rank: #4321
• State rank: #98 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: Clay County · 220,651 people
• City population: 439,467
• Metro: Kansas City, MO-KS
• Population (ZIP): 41,984
• Household income: $74,740
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1629.0

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 (72%)
• Race & ethnicity: White 72% Black 10% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 4% Arabic 1% Other Asian/Pacific 1%

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: ▼ -250.16%
• Current HPI: 240.9626
• Rent YoY: ▲ 3.20%
• 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

+69.4% since first listed

6 events — show timeline

• 2026-06-09 Listed $220,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-23 Coming Soon $220,000 Heartland MLS as Distributed by MLS Grid
• 2019-09-25 Sold (Public Records) — Public Records
• 2019-09-24 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2019-07-29 Contingent — Heartland MLS as Distributed by MLS Grid
• 2019-07-21 Listed $129,900 Heartland MLS as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $1,953 · +7.9% YoY. Source: county tax records.