5002 Norledge Ave · Kansas City, MO 64123

$120,000

2 bd · 1.0 ba · 675 sqft · SingleFamily public records · 20 Days on market

Built 1910 2,165 sqft lot Est $92k · 31% over

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Why this score? — see what drove the F 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 +16.0/30.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautiful rehabbed home updated with new roof, flooring, interior and exterior paint. All new bathroom and kitchen plus some additions to the home including inside access to the basement.

Key facts

• 2,165 sq ft lot
• Built 1910
• Listed 20 days

Property features AI

Finance

• Other: Living area about 750 (public records); Above-grade finished area reported as 750 (public records)
• HOA & community: No association fees

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Bungalow floor plan; Approximately 101+ years old
• Construction: Frame construction with wood siding; Composition roof; Has basement
• Exterior features: Lot approximately 2,165 square feet

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Living and dining combined (liv/dining combo); Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $60 ($719/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 $100k (16.7% below list).
• Recommended offer: $100k (16.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: 59 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 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 20 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,016 (16.7% below list)

Questions for the listing agent

1. Built in 1910 — 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. 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?
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: 0.83% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.14%
• DSCR: 1.10
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $91,800
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
445 N Lawndale Ave	0.44mi	2/1.0	699 (+4%)	2mo	$95,000	$136	72
5700 Smart Ave	0.66mi	2/1.0	620 (-8%)	15mo	$75,000	$121	43
112 Bellaire Ave	0.61mi	2/1.5	736 (+9%)	19mo	$144,000	$196	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.53×
• Total profit: $-15,676
• Equity at exit: $17,892

10-year hold

• IRR: -4.0%
• Equity multiple: 0.73×
• Total profit: $-8,923
• Equity at exit: $10,375

Cash invested: $33,600 (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 64123

• Home prices YoY: -8.3%
• Active inventory: 59
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,000 high
• Mortgage (P&I): −$629
• Tax from tax record: −$51 /mo · $611/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $60

Break-even live

Break-even rent $924

Max offer price $120,000

Occupancy floor 89%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
445 N Lawndale Ave Kansas City, MO	2.0	1.0	700	$1,200	$1.71	24d	1	0.46mi
3913 Scarritt Ave Apt 2W Kansas City, MO	1.0	1.0	700	$800	$1.14	3d	1	0.67mi
307 N Gladstone Blvd Kansas City, MO	1.0	1.0	650	$850	$1.31	44d	3	0.69mi
301-307 N Gladstone Blvd Unit 307-42 Kansas City, MO	1.0	1.0	650	$850	$1.31	4d	1	0.69mi
3600 Saint John Ave Unit 109 Kansas City, MO	1.0	1.0	680	$750	$1.10	44d	1	0.85mi
108 N Indiana Ave Unit 3S Kansas City, MO	1.0	1.0	600	$699	$1.17	44d	1	1.04mi
301 Bellefontaine Ave Unit B Kansas City, MO	1.0	1.0	700	$850	$1.21	17d	1	1.30mi
611 Ewing Ave Unit B Kansas City, MO	1.0	1.0	700	$800	$1.14	24d	1	1.37mi
532 Gladstone Blvd Kansas City, MO	1.0	1.0	375	$695	$1.85	24d	1	1.41mi

Listing history 14 events

1. 2026-06-18
   days on market $120,000 Active 20 DOM
2. 2026-06-17
   days on market $120,000 Active 19 DOM
3. 2026-06-16
   days on market $120,000 Active 18 DOM
4. 2026-06-15
   days on market $120,000 Active 17 DOM
5. 2026-06-13
   days on market $120,000 Active 15 DOM
6. 2026-06-09
   days on market $120,000 Active 11 DOM
7. 2026-06-08
   days on market $120,000 Active 10 DOM
8. 2026-06-07
   days on market $120,000 Active 9 DOM
9. 2026-06-05
   remarks 461-char remark
10. 2026-06-05
    days on market $120,000 Active 6 DOM
11. 2026-06-03
    days on market $120,000 Active 5 DOM
12. 2026-06-02
    days on market $120,000 Active 4 DOM
13. 2026-06-01
    days on market $120,000 Active 3 DOM
14. 2026-05-31
    days on market $120,000 Active 2 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: $611 · $51/mo
• Projected year-2 tax: $1,164 · $97/mo
• Expected delta: +$553/yr (+$46/mo · 90.5%)

ⓘ 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 ≥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: $12,002
• − Mortgage interest: −$6,722
• − Property taxes: −$611
• − Insurance: −$600
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$3,491
• Taxable loss: −$1,342
• Est. tax savings @ 24.0%: +$322
• After-tax cash flow: $1,041/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): 11,833
• Household income: $54,443
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 338.0

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: Hispanic / Latino 48% White 34% Two or more races 25% Black 10% Asian 5% Native American 2%
• Hispanic origin (detail): Mexican 37% Puerto Rican 1% Cuban 3%
• Common ancestry: Italian 2% Arab 2% Romanian 1%
• Foreign-born: 22% · Canada, Vietnam, Philippines
• Languages at home: 58% English-only · Spanish 35% Arabic 2% Vietnamese 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: ▼ -35.35%
• Current HPI: 392.4402
• 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

+14.3% since first listed

17 events — show timeline

• 2026-05-29 Listed $120,000 Heartland MLS as Distributed by MLS Grid
• 2025-06-09 Rental Removed $1,150 RENTLY
• 2025-05-12 Price Changed $1,150 RENTLY
• 2025-04-30 Price Changed $1,195 RENTLY
• 2025-03-03 Listed for Rent $1,150 RENTLY
• 2023-12-14 Rental Removed $1,025 RENTLY
• 2023-11-30 Price Changed $1,025 RENTLY
• 2023-10-27 Price Changed $1,095 RENTLY
• 2023-10-24 Price Changed $1,100 RENTLY
• 2023-08-04 Listed for Rent $1,125 RENTLY
• 2023-07-25 Sold (Public Records) — Public Records
• 2023-07-21 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2023-06-24 Pending — Heartland MLS as Distributed by MLS Grid
• 2023-06-23 Price Changed $92,500 Heartland MLS as Distributed by MLS Grid
• 2023-05-31 Price Changed $97,500 Heartland MLS as Distributed by MLS Grid
• 2023-05-11 Listed $105,000 Heartland MLS as Distributed by MLS Grid
• 1980-12-01 Sold (Public Records) — Public Records

Property tax history

+5.1%/yr

Latest (2025): $611 · +20.4% YoY. Source: county tax records.