2509 E 37th St · Kansas City, MO 64128

$190,000

4 bd · 2.0 ba · 1,976 sqft · MultiFamily public records · 74 Days on market

Built 1930 2,614 sqft lot

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Why this score? — see what drove the B+ 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 +28.6/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Excellent opportunity for house hackers and rental investors alike. This fully renovated duplex at 2509 E 37th St in Kansas City has been appraised at 250,000 and offers strong income potential and flexible use. Each unit features 3 bedrooms and 1 bathroom with modern flooring, fresh paint, and central AC throughout. The bottom unit includes laundry hookups, and the property offers a full basement with separate access, along with two water heaters and two electrical panels, making this a properly separated and efficient duplex. Both units enjoy private decks, with the top unit featuring an additional rear deck. A new roof adds long-term value and peace of mind. Both units are currently vaca

Key facts

• Central ac
• Modern flooring
• Fresh paint

Tags

• FULLY RENOVATED DUPLEX
• STRONG INCOME POTENTIAL
• MODERN FLOORING
• FRESH PAINT
• CENTRAL AC
• LAUNDRY HOOKUPS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $624 ($7k/yr) — positive. Per door: $312/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $179k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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: Rents rising fast (+4.7%/yr); 87 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $2,518/mo this rent would consume 84% of the median local household income ($36k/yr) (locally 946% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 4.7% rent growth), your $53k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 20y 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 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $178,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.33% ✓
• Cap rate: 10.23%
• Cash-on-cash: 14.07%
• DSCR: 1.63
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 4.65% rent growth · sell at horizon

5-year hold

• IRR: 35.5%
• Equity multiple: 3.77×
• Total profit: $147,538
• Equity at exit: $171,167

10-year hold

• IRR: 31.2%
• Equity multiple: 8.76×
• Total profit: $412,583
• Equity at exit: $369,128

Cash invested: $53,200 (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 64128

• Home prices YoY: 21.6%
• Rents YoY: 4.7%
• Active inventory: 87
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,518 high
• Mortgage (P&I): −$996
• Tax from tax record: −$290 /mo · $3,477/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$529
• Net cashflow: $624

Break-even live

Break-even rent $1,728

Max offer price $190,000

Occupancy floor 70%

Sensitivity live

Price	-10% $732	-5% $678	+0% $624	+5% $570	+10% $516
Rent	-10% $425	-5% $524	+0% $624	+5% $723	+10% $823
Rate	-1.0pp $720	-0.5pp $672	base $624	+0.5pp $575	+1.0pp $525

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,518
Total (2 units)			$2,518

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3902 Wabash Ave Kansas City, MO	4.0	2.0	1400	$1,850	$1.32	44d	1	0.26mi
3630 Agnes Ave Kansas City, MO	3.0	2.0	1448	$1,500	$1.04	11d	1	0.27mi
3817 S Benton Ave Kansas City, MO	4.0	1.5	1380	$1,650	$1.20	24d	1	0.28mi
3434 Olive St Kansas City, MO	3.0	2.0	2020	$1,445	$0.72	44d	1	0.31mi
3524 Bellefontaine Ave Kansas City, MO	3.0	1.0	1228	$1,350	$1.10	44d	1	0.37mi
3840 Bellefontaine Ave Kansas City, MO	3.0	1.0	1500	$1,500	$1.00	17d	1	0.40mi
2018 E 35th St Kansas City, MO	3.0	2.0	1502	$1,800	$1.20	4d	1	0.40mi
4018 Prospect Ave Kansas City, MO	4.0	1.5	1900	$1,695	$0.89	44d	1	0.42mi
2002 E 35th St Kansas City, MO	3.0	2.0	1426	$1,295	$0.91	8d	1	0.42mi
4014 Park Ave Kansas City, MO	3.0	2.0	1271	$1,273	$1.00	44d	1	0.44mi
3346 Agnes Ave Kansas City, MO	3.0	1.0	1400	$1,200	$0.86	8d	1	0.46mi
4107 Olive St Kansas City, MO	3.0	1.5	1271	$1,578	$1.24	8d	1	0.52mi
4112 Park Ave Kansas City, MO	4.0	2.0	1700	$1,800	$1.06	15d	1	0.56mi
3419 College Ave Kansas City, MO	4.0	1.0	1608	$1,300	$0.81	3d	1	0.58mi
4119 S Benton Ave Kansas City, MO	4.0	2.0	1700	$1,800	$1.06	44d	1	0.60mi
3739 Bales Ave Kansas City, MO	3.0	2.0	1400	$1,575	$1.12	24d	1	0.61mi
4116 Bellefontaine Ave Kansas City, MO	3.0	1.0	1234	$1,000	$0.81	24d	1	0.63mi
2120 Linwood Blvd Kansas City, MO	3.0	1.0	1326	$1,400	$1.06	44d	1	0.69mi
3525 Monroe Ave Kansas City, MO	3.0	2.0	1569	$1,500	$0.96	44d	1	0.75mi
3713 Cleveland Ave Kansas City, MO	4.0	1.0	1256	$1,250	$1.00	17d	1	0.79mi
4211 Woodland Ave Kansas City, MO	4.0	2.5	1926	$2,010	$1.04	17d	1	0.81mi
3811 E 36th St Kansas City, MO	3.0	1.0	2590	$1,350	$0.52	44d	1	0.82mi
3305 Askew Ave Kansas City, MO	3.0	1.5	1428	$1,450	$1.02	24d	1	0.82mi
4219 Woodland Ave Kansas City, MO	4.0	2.0	1566	$1,900	$1.21	3d	1	0.84mi
3205 E 31st St Kansas City, MO	4.0	1.0	1800	$1,325	$0.74	24d	1	0.85mi
3009 Garfield Ave Kansas City, MO	3.0	1.5	1334	$1,425	$1.07	44d	1	0.89mi
4511 Park Ave Kansas City, MO	4.0	2.5	1915	$1,982	$1.03	24d	1	1.03mi
3332 Norton Ave Kansas City, MO	3.0	1.0	1272	$1,350	$1.06	44d	1	1.03mi
4232 Virginia Ave Unit 3 Kansas City, MO	3.0	1.0	1296	$1,100	$0.85	13d	1	1.05mi
4031 Campbell St Kansas City, MO	4.0	1.5	2074	$2,500	$1.21	17d	1	1.17mi
2723 Park Ave Kansas City, MO	5.0	3.0	2010	$1,875	$0.93	22d	1	1.21mi
2724 Brooklyn Ave Kansas City, MO	3.0	2.5	1398	$1,440	$1.03	24d	1	1.21mi
2708 Olive St Kansas City, MO	4.0	2.0	1585	$1,500	$0.95	18d	1	1.23mi
912 E 31st St Kansas City, MO	5.0	1.5	2200	$1,800	$0.82	17d	1	1.32mi
908 E 31st St Kansas City, MO	5.0	1.5	2100	$1,800	$0.86	44d	1	1.33mi
2846 Myrtle Ave Kansas City, MO	3.0	2.0	1705	$1,350	$0.79	17d	1	1.33mi
4653 Benton Blvd Kansas City, MO	3.0	2.0	1594	$1,600	$1.00	8d	1	1.35mi
2729 Grove St Kansas City, MO	3.0	2.0	1510	$1,375	$0.91	44d	1	1.36mi
4440 Troost Ave Kansas City, MO	5.0	2.0	2400	$2,250	$0.94	44d	1	1.38mi
4444 Troost Ave Kansas City, MO	5.0	2.0	2400	$2,250	$0.94	44d	1	1.38mi

Listing history 50 events

1. 2026-06-21
   days on market $190,000 Active 74 DOM
2. 2026-06-18
   days on market $190,000 Active 71 DOM
3. 2026-06-17
   days on market $190,000 Active 70 DOM
4. 2026-06-16
   days on market $190,000 Active 69 DOM
5. 2026-06-15
   days on market $190,000 Active 68 DOM
6. 2026-06-13
   days on market $190,000 Active 66 DOM
7. 2026-06-09
   days on market $190,000 Active 62 DOM
8. 2026-06-08
   days on market $190,000 Active 61 DOM
9. 2026-06-07
   days on market $190,000 Active 60 DOM
10. 2026-06-05
    days on market $190,000 Active 57 DOM
11. 2026-06-03
    days on market $190,000 Active 56 DOM
12. 2026-06-02
    days on market $190,000 Active 55 DOM
13. 2026-06-01
    days on market $190,000 Active 54 DOM
14. 2026-05-31
    days on market $190,000 Active 53 DOM
15. 2026-03-17
    status Pending
16. 2026-01-27
    listed $190,000 Active
17. 2025-11-27
    historical
18. 2025-11-26
    status Active
19. 2025-11-14
    status Pending
20. 2025-11-07
    price $205,000
21. 2025-10-03
    price $212,000
22. 2025-09-10
    price $225,000
23. 2025-08-25
    listed $240,000 Active
24. 2025-08-25
    historical
25. 2025-02-05
    soldstatus
26. 2025-02-05
    soldstatus
27. 2025-01-31
    soldstatus
28. 2025-01-16
    historical $1,350
29. 2024-11-10
    listed $1,350
30. 2024-11-08
    historical
31. 2024-09-25
    price $219,900
32. 2024-09-05
    listed $225,000 Active
33. 2024-08-07
    historical
34. 2024-06-18
    listed $225,000 Active
35. 2023-11-01
    soldstatus Closed
36. 2023-10-27
    soldstatus
37. 2023-09-22
    status Pending
38. 2023-08-30
    listed $435,000 Active
39. 2020-05-10
    historical
40. 2019-09-18
    status Pending
41. 2019-08-13
    price $48,000
42. 2019-06-17
    listed $61,000 Active
43. 2011-11-30
    historical
44. 2011-06-12
    listed $11,500
45. 2008-12-15
    historical
46. 2008-06-13
    listed $105,000
47. 2006-08-14
    soldstatus
48. 2006-02-13
    soldstatus
49. 2006-02-10
    soldstatus
50. 2006-01-11
    listed $49,900

ⓘ 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: $3,477 · $290/mo
• Projected year-2 tax: $3,477 · $290/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 ≥107°F today · 16 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: $30,216
• − Mortgage interest: −$10,643
• − Property taxes: −$3,477
• − Insurance: −$950
• − Repairs & maintenance: −$2,417
• − Management: −$2,417
• − Depreciation: −$5,527
• Taxable income: $4,785
• Est. tax owed @ 24.0%: −$1,148
• After-tax cash flow: $6,339/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): 11,912
• Household income: $36,088
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 946.0

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 Black (79%)
• Race & ethnicity: Black 79% Hispanic / Latino 9% White 8% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Swedish 1% Hispanic 1%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 2%

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: ▲ 73.41%
• Current HPI: 412.6862
• Rent YoY: ▲ 4.65%
• 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

+280.8% since first listed

41 events — show timeline

• 2026-03-17 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-01-27 Listed $190,000 Heartland MLS as Distributed by MLS Grid
• 2025-11-27 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-11-26 Relisted — Heartland MLS as Distributed by MLS Grid
• 2025-11-14 Pending — Heartland MLS as Distributed by MLS Grid
• 2025-11-07 Price Changed $205,000 Heartland MLS as Distributed by MLS Grid
• 2025-10-03 Price Changed $212,000 Heartland MLS as Distributed by MLS Grid
• 2025-09-10 Price Changed $225,000 Heartland MLS as Distributed by MLS Grid
• 2025-08-25 Listed $240,000 Heartland MLS as Distributed by MLS Grid
• 2025-08-25 Coming Soon — Heartland MLS as Distributed by MLS Grid
• 2025-02-05 Sold (Public Records) — Public Records
• 2025-02-05 Sold (Public Records) — Public Records
• 2025-01-31 Sold (Public Records) — Public Records
• 2025-01-16 Rental Removed $1,350 RENTEC
• 2024-11-10 Listed for Rent $1,350 RENTEC
• 2024-11-08 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-09-25 Price Changed $219,900 Heartland MLS as Distributed by MLS Grid
• 2024-09-05 Listed $225,000 Heartland MLS as Distributed by MLS Grid
• 2024-08-07 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-06-18 Listed $225,000 Heartland MLS as Distributed by MLS Grid
• 2023-11-01 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2023-10-27 Sold (Public Records) — Public Records
• 2023-09-22 Pending — Heartland MLS as Distributed by MLS Grid
• 2023-08-30 Listed $435,000 Heartland MLS as Distributed by MLS Grid
• 2020-05-10 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2019-09-18 Pending — Heartland MLS as Distributed by MLS Grid
• 2019-08-13 Price Changed $48,000 Heartland MLS as Distributed by MLS Grid
• 2019-06-17 Listed $61,000 Heartland MLS as Distributed by MLS Grid
• 2011-11-30 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2011-06-12 Listed $11,500 Heartland MLS as Distributed by MLS Grid
• 2008-12-15 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2008-06-13 Listed $105,000 Heartland MLS as Distributed by MLS Grid
• 2006-08-14 Sold (Public Records) — Public Records
• 2006-02-13 Sold (Public Records) — Public Records
• 2006-02-10 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2006-01-11 Listed $49,900 Heartland MLS as Distributed by MLS Grid
• 2003-11-26 Sold (Public Records) — Public Records
• 2003-11-26 Sold (Public Records) — Public Records
• 2002-12-02 Sold (Public Records) — Public Records
• 2000-04-27 Sold (Public Records) — Public Records
• 2000-04-27 Sold (Public Records) — Public Records

Property tax history

+32.7%/yr

Latest (2025): $3,477 · +119.2% YoY. Source: county tax records.