3615 NE 68th Ter · Gladstone, MO 64119

$165,000

2 bd · 1.0 ba · 1,024 sqft · Townhouse public records · 134 Days on market

Built 1968 436 sqft lot Est $171k · at est. $182/mo HOA · 12% of rent

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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 +12.8/30.0
• ARV discount +9.1/15.0
• 1% rule +4.2/10.0
• Rent growth +4.0/5.0
• DSCR +3.8/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on market. No fault of seller. Tired of all the maintenance? Ready to let someone else do all the work? Here's your chance. Maintenance provided townhome in Gladstone ready for new owner. 2 bedrooms 1 full and 1 half bath. Large kitchen with dining space and breakfast bar. HOA offers great amentities at an affordable price. Would also make a great addition to an investment portfoilio.

Key facts

• Private deck
• Attached garage
• Stylish kitchen

Tags

• STYLISH KITCHEN
• STAINLESS STEEL APPLIANCES
• BUTCHERBLOCK COUNTERTOPS
• PRIVATE DECK
• IN UNIT LAUNDRY
• ATTACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $165k.

Deal economics

• At list price, monthly cash flow is $-14 ($-169/yr) — negative.
• To cash-flow at today's rent, offer at most $163k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (8.0% below list).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 4.5% in Gladstone — 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 (#44 in MO, #3,612 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute 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: Chapel Hill Elementary (math 55% / reading 64%, grade B-, #124 of 1,115 statewide, top 13%, 599 students, 40% FRL); Antioch Middle (math 34% / reading 49%, grade F, #163 of 391 statewide, top 44%, 865 students, 47% 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 fast (+6.1%/yr); 184 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 134 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 29y ago; this cycle's ask has dropped $22k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $145,200 (12.0% 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 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 0.92% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.37%
• DSCR: 0.98
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $171,008
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3615 NE 68th Ter	0.00mi	2/1.5	1,024 (0%)	1mo	$165,000	$161	97
3619 NE 68th Ter	0.01mi	2/1.5	1,024 (0%)	3mo	$185,000	$181	95
6751 N Askew Cir	0.05mi	2/1.5	1,056 (+3%)	8mo	$175,000	$166	84
3609 NE 68th Ter	0.01mi	2/1.5	1,024 (0%)	22mo	$168,000	$164	79
3727 NE 68th Ter	0.05mi	2/1.5	1,024 (0%)	22mo	$175,000	$171	77
7138 NE Kingston Ct	0.38mi	3/1.5 (+1)	1,106 (+8%)	5mo	$184,900	$167	58

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 · 6.09% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.51×
• Total profit: $-22,699
• Equity at exit: $24,602

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $633
• Equity at exit: $14,266

Cash invested: $46,200 (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 64119

• Rents YoY: 6.1%
• Active inventory: 184
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,518 high
• Mortgage (P&I): −$865
• Tax from tax record: −$97 /mo · $1,168/yr
• Insurance: −$69
• HOA: −$182
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $-14

Break-even live

Break-even rent $1,536

Max offer price $162,515

Occupancy floor 96%

Sensitivity live

Price	-10% $79	-5% $33	+0% $-14	+5% $-61	+10% $-107
Rent	-10% $-134	-5% $-74	+0% $-14	+5% $46	+10% $106
Rate	-1.0pp $69	-0.5pp $28	base $-14	+0.5pp $-57	+1.0pp $-100

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3619 NE 68th Ter Kansas City, MO	2.0	2.0	1024	$1,600	$1.56	45d	1	0.03mi
2404 NE 70th St Gladstone, MO	1.0–2.0	1.0–2.0	857	$1,075	$1.25	45d	1	0.72mi
2483 NE 68th St Kansas City, MO	2.0	2.0	928	$1,325	$1.43	6d	1	0.74mi
2813 A NE Kendallwood Pkwy Gladstone, MO	1.0–3.0	1.0–2.5	1079	$1,390	$1.29	45d	1	1.37mi
1403 NE 67th Pl Kansas City, MO	3.0	1.0	1132	$1,626	$1.44	6d	1	1.39mi
2307 NE 59th St Kansas City, MO	3.0	1.0	1150	$1,710	$1.49	23d	1	1.43mi
7670 N Euclid Ave Unit 76-1932 Gladstone, MO	2.0	1.0	900	$1,395	$1.55	23d	1	1.45mi
7670 N Euclid Ave Unit 77-1930 Gladstone, MO	2.0	1.5	1250	$1,450	$1.16	23d	1	1.45mi
7670 N Euclid Ave Unit B-7663 Gladstone, MO	2.0	1.0	700	$920	$1.31	25d	1	1.45mi
7670 N Euclid Ave Gladstone, MO	2.0	1.0–1.5	975	$1,185	$1.22	18d	3	1.45mi

HOA detail

• Monthly dues: $182 · $2,184/yr

Listing history 15 events

1. 2026-04-24
   status Pending
2. 2026-04-07
   price $165,000
3. 2026-03-12
   price $176,500
4. 2026-03-06
   price $181,000
5. 2026-02-12
   price $185,000
6. 2025-12-11
   listed $187,000 Active
7. 2022-05-27
   soldstatus Closed 392-char remark

   Show marketing remark (392 chars)

   Back on market. No fault of seller. Tired of all the maintenance? Ready to let someone else do all the work? Here's your chance. Maintenance provided townhome in Gladstone ready for new owner. 2 bedrooms 1 full and 1 half bath. Large kitchen with dining space and breakfast bar. HOA offers great amentities at an affordable price. Would also make a great addition to an investment portfoilio.

8. 2022-04-27
   status Pending 392-char remark

   Show marketing remark (392 chars)

   Back on market. No fault of seller. Tired of all the maintenance? Ready to let someone else do all the work? Here's your chance. Maintenance provided townhome in Gladstone ready for new owner. 2 bedrooms 1 full and 1 half bath. Large kitchen with dining space and breakfast bar. HOA offers great amentities at an affordable price. Would also make a great addition to an investment portfoilio.

9. 2022-04-07
   price $129,000 392-char remark

   Show marketing remark (392 chars)

   Back on market. No fault of seller. Tired of all the maintenance? Ready to let someone else do all the work? Here's your chance. Maintenance provided townhome in Gladstone ready for new owner. 2 bedrooms 1 full and 1 half bath. Large kitchen with dining space and breakfast bar. HOA offers great amentities at an affordable price. Would also make a great addition to an investment portfoilio.

10. 2022-03-31
    status Active 392-char remark

    Show marketing remark (392 chars)

    Back on market. No fault of seller. Tired of all the maintenance? Ready to let someone else do all the work? Here's your chance. Maintenance provided townhome in Gladstone ready for new owner. 2 bedrooms 1 full and 1 half bath. Large kitchen with dining space and breakfast bar. HOA offers great amentities at an affordable price. Would also make a great addition to an investment portfoilio.

11. 2022-03-31
    status Pending 392-char remark

    Show marketing remark (392 chars)

    Back on market. No fault of seller. Tired of all the maintenance? Ready to let someone else do all the work? Here's your chance. Maintenance provided townhome in Gladstone ready for new owner. 2 bedrooms 1 full and 1 half bath. Large kitchen with dining space and breakfast bar. HOA offers great amentities at an affordable price. Would also make a great addition to an investment portfoilio.

12. 2022-03-25
    listed $135,000 Active 392-char remark

    Show marketing remark (392 chars)

    Back on market. No fault of seller. Tired of all the maintenance? Ready to let someone else do all the work? Here's your chance. Maintenance provided townhome in Gladstone ready for new owner. 2 bedrooms 1 full and 1 half bath. Large kitchen with dining space and breakfast bar. HOA offers great amentities at an affordable price. Would also make a great addition to an investment portfoilio.

13. 1999-07-07
    soldstatus
14. 1997-08-06
    soldstatus 301-char remark

    Show marketing remark (301 chars)

    Lowest Price-Need Quick Sale-Single Owner Been Here 20yrs-Giant Brs-Open Kitch-Dn Area-Roof Less Than 1yr-Deck 2yrs-Appliances 4yrs-Service One Wrnty Quiet Gladstone Loc W/ Pool-Trash-Lawn Care-Snow Removal-Extermin Ea 6 Mos Antioch Rd North To 68th Terr - (Antioch Becomes Prospect) East On 68th Terr

15. 1997-06-17
    listed $59,900 301-char remark

    Show marketing remark (301 chars)

    Lowest Price-Need Quick Sale-Single Owner Been Here 20yrs-Giant Brs-Open Kitch-Dn Area-Roof Less Than 1yr-Deck 2yrs-Appliances 4yrs-Service One Wrnty Quiet Gladstone Loc W/ Pool-Trash-Lawn Care-Snow Removal-Extermin Ea 6 Mos Antioch Rd North To 68th Terr - (Antioch Becomes Prospect) East On 68th Terr

ⓘ 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: $1,168 · $97/mo
• Projected year-2 tax: $1,600 · $133/mo
• Expected delta: +$432/yr (+$36/mo · 37.0%)

ⓘ 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 ≥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: $18,218
• − Mortgage interest: −$9,243
• − Property taxes: −$1,168
• − Insurance: −$825
• − Repairs & maintenance: −$1,457
• − Management: −$1,457
• − HOA: −$2,184
• − Depreciation: −$4,800
• Taxable loss: −$2,917
• Est. tax savings @ 24.0%: +$700
• After-tax cash flow: $531/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 — Gladstone

• Score: 76/100
• State rank: #44
• US rank: #3612

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gladstone, MO
• County: Clay County · 220,651 people
• City population: 41,984
• Metro: Kansas City, MO-KS
• Population (ZIP): 33,199
• Household income: $83,929
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 603.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 8% Two or more races 8% Black 7% Asian 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 2% Italian 2% Slovak 2%
• Foreign-born: 7% · Canada, Vietnam, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Asian/Pacific 1% Other Indo-European 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: ▼ -253.39%
• Current HPI: 215.8366
• Rent YoY: ▲ 6.09%
• 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

+175.5% since first listed

15 events — show timeline

• 2026-04-24 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-07 Price Changed $165,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-12 Price Changed $176,500 Heartland MLS as Distributed by MLS Grid
• 2026-03-06 Price Changed $181,000 Heartland MLS as Distributed by MLS Grid
• 2026-02-12 Price Changed $185,000 Heartland MLS as Distributed by MLS Grid
• 2025-12-11 Listed $187,000 Heartland MLS as Distributed by MLS Grid
• 2022-05-27 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2022-04-27 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-04-07 Price Changed $129,000 Heartland MLS as Distributed by MLS Grid
• 2022-03-31 Relisted — Heartland MLS as Distributed by MLS Grid
• 2022-03-31 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-03-25 Listed $135,000 Heartland MLS as Distributed by MLS Grid
• 1999-07-07 Sold (Public Records) — Public Records
• 1997-08-06 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 1997-06-17 Listed $59,900 Heartland MLS as Distributed by MLS Grid

Property tax history

+0.5%/yr

Latest (2024): $1,168 · +0.6% YoY. Source: county tax records.