205 High St · Platte City, MO 64079

$192,000

2 bd · 1.0 ba · 1,283 sqft · SingleFamily public records · 90 Days on market

Built 1932 7,100 sqft lot $150/sqft · 18% below area Est $234k · 18% under ↓ 16% since listing

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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 +15.0/15.0
• Cash flow +8.7/30.0
• Schools +4.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable 2 bedroom 1 bath home in historic downtown Platte City. Recently remodeled with an updated bathroom, refinished hardwoods and a new roof! Close to all the amenities and the airport with off street parking don't miss your opportunity to see this home. Schedule your appointment today!

Key facts

• Off street parking
• Refinished hardwoods
• Updated bathroom

Tags

• HISTORIC DOWNTOWN PLATTE CITY
• UPDATED BATHROOM
• REFINISHED HARDWOODS
• NEW ROOF
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $192k.

Deal economics

• At list price, monthly cash flow is $-161 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $163k (14.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (28.0% below list).
• Recommended offer: $138k (28.0% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 2.1% in Platte 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 76/100 on livability (#42 in MO, #3,472 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, amenities F, commute F.
• Platte County R-III (town): math 48% / reading 60% proficiency, ranked #22 of 324 in MO (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 120 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 234 units permitted in Platte County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($99k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Platte County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $23k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,174 (28.0% 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 90 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
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 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: 0.72% ✗
• Cap rate: 5.28%
• Cash-on-cash: -3.60%
• DSCR: 0.84
• GRM: 11.6

CMA / ARV

• ARV (median comp): $234,339
• List price: $192,000
• Delta: -18.07%
• 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
10 N Vine View St	0.29mi	3/2.5 (+1)	1,276 (-0%)	11mo	$268,000	$210	66
1000 Fourth St	0.35mi	2/1.5	1,240 (-3%)	16mo	$120,000	$97	63
1004 Mary Kay Ln	0.40mi	3/1.0 (+1)	1,192 (-7%)	6mo	$225,000	$189	60
5 Murray Ln	0.61mi	3/2.0 (+1)	1,280 (-0%)	13mo	$267,500	$209	52
1 N Vine View St	0.34mi	3/2.0 (+1)	1,144 (-11%)	9mo	$260,000	$227	50
101 Academy St	0.60mi	3/1.0 (+1)	1,104 (-14%)	0mo	$220,000	$199	43
101 Rader St	0.60mi	3/2.0 (+1)	1,449 (+13%)	1mo	$239,900	$166	41
33 Florentina St	0.74mi	3/1.0 (+1)	1,356 (+6%)	23mo	$185,000	$136	32

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: -22.4%
• Equity multiple: 0.23×
• Total profit: $-41,413
• Equity at exit: $28,628

10-year hold

• IRR: -16.5%
• Equity multiple: 0.08×
• Total profit: $-49,395
• Equity at exit: $16,601

Cash invested: $53,760 (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 64079

• Home prices YoY: -29.2%
• Active inventory: 120
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,382 high
• Mortgage (P&I): −$1,007
• Tax from tax record: −$166 /mo · $1,993/yr
• Insurance: −$80
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $-161

Break-even live

Break-even rent $1,586

Max offer price $163,497

Occupancy floor —

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: $48,000
• Closing costs: $5,760
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
248 Marshall Rd Platte City, MO	2.0	1.0–1.5	775	$1,225	$1.58	2d	11	0.46mi
112 Ryan Ct Platte City, MO	3.0	2.5	1237	$1,800	$1.46	7d	1	0.98mi
1914 Century Hill St Platte City, MO	2.0	1.5	1200	$1,280	$1.07	2d	1	1.15mi
2111 Catie Ln Platte City, MO	2.0	1.5	900	$1,200	$1.33	44d	1	1.15mi
1810 Century Hl Unit 1907 Platte City, MO	2.0	1.5	1200	$1,260	$1.05	7d	1	1.16mi
1810 Century Hl Platte City, MO	2.0	1.5	1200	$1,300	$1.08	44d	1	1.16mi

Listing history 23 events

1. 2026-06-17
   status $192,000 Pending 90 DOM
2. 2026-06-16
   days on market $192,000 Active 90 DOM
3. 2026-06-15
   days on market $192,000 Active 89 DOM
4. 2026-06-13
   days on market $192,000 Active 87 DOM
5. 2026-06-13
   days on market $192,000 Active 86 DOM
6. 2026-06-09
   days on market $192,000 Active 83 DOM
7. 2026-06-08
   pricedays on market $192,000 Active 82 DOM
8. 2026-06-07
   days on market $197,000 Active 81 DOM
9. 2026-06-05
   days on market $197,000 Active 78 DOM
10. 2026-06-03
    days on market $197,000 Active 77 DOM
11. 2026-06-02
    days on market $197,000 Active 76 DOM
12. 2026-06-01
    days on market $197,000 Active 75 DOM
13. 2026-05-31
    days on market $197,000 Active 74 DOM
14. 2026-04-23
    price $197,000 292-char remark

    Show marketing remark (292 chars)

    Adorable 2 bedroom 1 bath home in historic downtown Platte City. Recently remodeled with an updated bathroom, refinished hardwoods and a new roof! Close to all the amenities and the airport with off street parking don't miss your opportunity to see this home. Schedule your appointment today!

15. 2026-04-08
    price $205,000 292-char remark

    Show marketing remark (292 chars)

    Adorable 2 bedroom 1 bath home in historic downtown Platte City. Recently remodeled with an updated bathroom, refinished hardwoods and a new roof! Close to all the amenities and the airport with off street parking don't miss your opportunity to see this home. Schedule your appointment today!

16. 2026-03-18
    listed $215,000 Active 292-char remark

    Show marketing remark (292 chars)

    Adorable 2 bedroom 1 bath home in historic downtown Platte City. Recently remodeled with an updated bathroom, refinished hardwoods and a new roof! Close to all the amenities and the airport with off street parking don't miss your opportunity to see this home. Schedule your appointment today!

17. 2025-12-04
    historical
18. 2025-10-31
    price $215,000
19. 2025-10-23
    price $225,000
20. 2025-10-17
    status Active
21. 2025-10-10
    status Pending
22. 2025-10-04
    listed $235,000 Active
23. 2025-09-30
    historical

ⓘ 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: $1,993 · $166/mo
• Projected year-2 tax: $1,993 · $166/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 ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,581
• − Mortgage interest: −$10,755
• − Property taxes: −$1,993
• − Insurance: −$960
• − Repairs & maintenance: −$1,326
• − Management: −$1,326
• − Depreciation: −$5,585
• Taxable loss: −$5,365
• Est. tax savings @ 24.0%: +$1,288
• After-tax cash flow: $-649/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: Platte County R-III
• NCES district ID: 2925230
• Math proficiency: 48% ▼ -5.00%
• Reading proficiency: 60% ▼ -1.00%
• Median HH income: $65,548
• Composite: 47.55/100
• National rank: #2266
• State rank: #22 of 324 in MO

Livability — Platte City

• Score: 76/100
• State rank: #42
• US rank: #3472

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Platte City, MO
• County: Platte County · 100,198 people
• City population: 15,160
• Metro: Kansas City, MO-KS
• Population (ZIP): 15,160
• Household income: $99,161
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 455.0

Population outlook (Platte County) Hauer SSP2

• Today (2025): 111,772 people
• By 2030: 119,173 · +6.6%
• By 2040: 133,326 · +19.3%
• By 2050: 146,617 · +31.2%
• By 2075: 178,626 · +59.8%
• By 2100: 195,638 · +75.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 5% Hispanic / Latino 5% Black 4% Asian 1%
• Common ancestry: Romanian 2% Slovak 2% Serbian 2%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Platte

• 2024 margin: Toss-up / Even · D 47.7% · R 50.8% · Other 1.4%
• 2008→2024 swing: +3.2pp toward D · 2008: -6.4pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: R+3.0 2016: R+13.0 2012: R+14.2 2008: R+6.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.15%
• Current HPI: 213.9574
• 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

-16.2% since first listed

10 events — show timeline

• 2026-04-23 Price Changed $197,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-08 Price Changed $205,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-18 Listed $215,000 Heartland MLS as Distributed by MLS Grid
• 2025-12-04 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-10-31 Price Changed $215,000 Heartland MLS as Distributed by MLS Grid
• 2025-10-23 Price Changed $225,000 Heartland MLS as Distributed by MLS Grid
• 2025-10-17 Relisted — Heartland MLS as Distributed by MLS Grid
• 2025-10-10 Pending — Heartland MLS as Distributed by MLS Grid
• 2025-10-04 Listed $235,000 Heartland MLS as Distributed by MLS Grid
• 2025-09-30 Coming Soon — Heartland MLS as Distributed by MLS Grid

Property tax history

+3.7%/yr

Latest (2025): $1,993 · +7.5% YoY. Source: county tax records.