18710 S Mullen Dr · Belton, MO 64012

$239,900

3 bd · 2.0 ba · 1,008 sqft · SingleFamily public records · 3 Days on market

Built 1955 0.71 ac lot Est $199k · 21% over

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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 +19.3/30.0
• DSCR +6.1/10.0
• 1% rule +4.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * BACK ON THE MARKET AT NO FAULT OF THE SELLERS * * * Experience Rural Elegance on the edge of town! Your dream home awaits in this REMODELED ranch-style home, nestled on a sprawling . 71 acre lot. 2 CAR DETACHED GARAGE featuring a BONUS ROOM tailor made for a workshop or extra storage. Revamped kitchen with BRAND NEW stainless steel appliances and granite countertops. Step onto all-new flooring that complements the freshly applied interior & exterior paint. Bath has been completely redone to give it a fresh clean look. The vast outdoor oasis invites you to create your own paradise. Picture a flourishing garden, a charming chicken coop, or a welcoming fire pit for entertaining under the starlit sky. Located just minutes away from a plethora of shopping and dining options. Seize this opportunity - DON'T MISS OUT on making this exquisite property your own!

Key facts

• Expansive lot
• Remodeled ranch home
• Well-lit bonus room

Tags

• REMODELED RANCH HOME
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• DETACHED 2-CAR GARAGE
• WELL-LIT BONUS ROOM
• EXPANSIVE LOT

Property features AI

Finance

• Other: City lot on paved road; Lot size about 0.71 acres
• HOA & community: Association fees billed annually

Exterior

• Parking: Detached garage facing front; 2-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Private sewer (lagoon); High-speed internet available
• Home design: Single-family residence; Ranch floor plan; Residential property
• Construction: Vinyl siding; Composition roof; Crawl space foundation; Approximately 51–75 years old
• Exterior features: Deck; Outbuilding

Interior

• Kitchen: Dishwasher; Disposal; Refrigerator; Gas range; Stainless steel appliances; Laminate counters
• Bedrooms: 3 bedrooms, all on the first floor
• Flooring: Carpet in several rooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Ceiling fan(s); Main floor primary bedroom; Main floor bedrooms; Mud room; Workshop; Eat-in kitchen
• Laundry & utility: Laundry room located off the kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/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 $216k (10.0% below list).
• Recommended offer: $216k (10.0% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 4.7% in Belton — 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 (#52 in MO, #3,782 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, commute F.
• Belton 124 (suburban): math 28% / reading 39% proficiency, ranked #216 of 324 in MO (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cambridge Elem. (math 22% / reading 27%, grade F, #879 of 1,115 statewide, top 81%, 423 students, 56% FRL); Belton High (math 27% / reading 59%, grade F, #211 of 521 statewide, top 41%, 1,374 students, 42% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: Rents rising fast (+5.2%/yr); 204 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 588 units permitted in Cass County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($72k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Cass County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 14y 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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $216,000 (10.0% below list)

Questions for the listing agent

1. Built in 1955 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.90% ✗
• Cap rate: 7.61%
• Cash-on-cash: 4.69%
• DSCR: 1.21
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $198,576
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18714 S Lakeside Ln	0.14mi	3/2.0	1,140 (+13%)	3mo	$225,000	$197	69
18802 S Lakeside Ln	0.15mi	2/1.0 (-1)	864 (-14%)	0mo	$139,000	$161	60

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 · 5.17% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.74×
• Total profit: $-17,425
• Equity at exit: $35,770

10-year hold

• IRR: 5.0%
• Equity multiple: 1.40×
• Total profit: $26,635
• Equity at exit: $20,742

Cash invested: $67,172 (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 64012

• Rents YoY: 5.2%
• Active inventory: 204
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,160 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$86 /mo · $1,028/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $263

Break-even live

Break-even rent $1,828

Max offer price $239,900

Occupancy floor 83%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
960 Cedarcrest Dr Raymore, MO	2.0–3.0	2.0–2.5	1305	$2,035	$1.56	1d	11	1.43mi
1702 Pam Ct Belton, MO	4.0	3.0	1443	$2,099	$1.45	43d	1	1.46mi

Listing history 3 events

1. 2026-06-07
   statusdays on market $239,900 Pending 3 DOM
2. 2026-06-05
   remarks 699-char remark
3. 2026-06-05
   listed $239,900 Active 1 DOM

ⓘ 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: $1,028 · $86/mo
• Projected year-2 tax: $2,327 · $194/mo
• Expected delta: +$1,299/yr (+$108/mo · 126.3%)

ⓘ 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 ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,920
• − Mortgage interest: −$13,438
• − Property taxes: −$1,028
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,074
• − Management: −$2,074
• − Depreciation: −$6,979
• Taxable loss: −$872
• Est. tax savings @ 24.0%: +$209
• After-tax cash flow: $3,361/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: Belton 124
• NCES district ID: 2904620
• Math proficiency: 28% ▼ -9.00%
• Reading proficiency: 39% ▼ -9.00%
• Median HH income: $56,946
• Composite: 29.73/100
• National rank: #6446
• State rank: #216 of 324 in MO

Livability — Belton

• Score: 76/100
• State rank: #52
• US rank: #3782

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cass County · 65,358 people
• City population: 29,304
• Metro: Kansas City, MO-KS
• Population (ZIP): 29,304
• Household income: $71,814
• Rent vs Own: 34.9% rent · 65.1% own
• Severe rent burden: 1081.0

Population outlook (Cass County) Hauer SSP2

• Today (2025): 105,292 people
• By 2030: 106,109 · +0.8%
• By 2040: 105,786 · +0.5%
• By 2050: 102,062 · -3.1%
• By 2075: 88,569 · -15.9%
• By 2100: 68,293 · -35.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 7% Hispanic / Latino 7% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Lithuanian 2% Portuguese 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+32.1) · D 33.3% · R 65.4% · Other 1.3%
• 2008→2024 swing: -12.5pp toward R · 2008: -19.6pp · 2024: -32.1pp
• All cycles: 2024: R+32.1 2020: R+31.6 2016: R+35.9 2012: R+28.4 2008: R+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -244.76%
• Current HPI: 214.6157
• Rent YoY: ▲ 5.17%
• 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

+169.6% since first listed

27 events — show timeline

• 2026-06-03 Listed $239,900 Heartland MLS as Distributed by MLS Grid
• 2024-01-10 Sold (Public Records) — Public Records
• 2024-01-08 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2023-12-29 Pending — Heartland MLS as Distributed by MLS Grid
• 2023-12-17 Relisted — Heartland MLS as Distributed by MLS Grid
• 2023-12-09 Contingent — Heartland MLS as Distributed by MLS Grid
• 2023-11-17 Listed $237,500 Heartland MLS as Distributed by MLS Grid
• 2022-08-27 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-08-26 Listed $110,000 Heartland MLS as Distributed by MLS Grid
• 2022-08-26 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2021-11-13 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2021-11-06 Relisted — Heartland MLS as Distributed by MLS Grid
• 2021-10-28 Pending — Heartland MLS as Distributed by MLS Grid
• 2021-10-19 Price Changed $127,500 Heartland MLS as Distributed by MLS Grid
• 2021-09-10 Listed $135,000 Heartland MLS as Distributed by MLS Grid
• 2016-11-23 Sold (Public Records) — Public Records
• 2016-11-22 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2016-09-16 Contingent — Heartland MLS as Distributed by MLS Grid
• 2016-07-26 Relisted — Heartland MLS as Distributed by MLS Grid
• 2016-07-21 Contingent — Heartland MLS as Distributed by MLS Grid
• 2016-05-25 Relisted — Heartland MLS as Distributed by MLS Grid
• 2016-05-17 Contingent — Heartland MLS as Distributed by MLS Grid
• 2016-05-07 Listed $94,500 Heartland MLS as Distributed by MLS Grid
• 2013-02-15 Sold (Public Records) — Public Records
• 2012-12-30 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2012-06-07 Listed $89,000 Heartland MLS as Distributed by MLS Grid
• 2011-12-09 Sold (Public Records) — Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,028 · +13.4% YoY. Source: county tax records.