2022 S Hedges Ave · Independence, MO 64052

$225,900

6 bd · 3.0 ba · — sqft · MultiFamily · 210 Days on market

Built 1951 Fair condition 0.25 ac lot Est $207k · 9% over

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Why this score? — see what drove the C+ 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Livability +4.1/5.0
• Rent growth +3.9/5.0
• ARV discount +3.4/15.0
• Schools +2.7/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

PRICE DROP! Triplex that checks a lot of boxes for value-add investors looking for cash flow NOW, offering a clean, functional setup with a unit mix that consistently attracts tenants seeking affordable, practical living. The property includes one spacious 2BR/1BA unit and two well-sized 1BR/1BA units, each with layouts that prioritize livability and efficiency over high-end finishes. It’s not about luxury interiors here — it’s about space, usability, and a property that performs. Long-term ownership shows in the major improvements already completed, including updates to plumbing, electrical, AC systems, exterior paint, awnings, and the majority of windows. Each unit features central heating and cooling, and tenants cover gas and electric, keeping owner expenses low with responsibility primarily limited to water and maintenance. Located on a quiet, tree-lined street surrounded by primarily owner-occupied homes, the setting offers a stable, neighborhood feel that tenants appreciate. Off-street parking for multiple vehicles and a large shared storage area provide additional functionality, with the ability to add a laundry setup for increased income. A straightforward investment with strong in-place income and clear upside — step in, improve over time, and make it your own.

Key facts

• New awnings
• Updated ac units
• Turnkey property

Tags

• TURNKEY PROPERTY
• NEWER PLUMBING
• UPDATED AC UNITS
• FRESH EXTERIOR PAINT
• NEW AWNINGS
• NEW WINDOWS

What this means for you Summary

Snapshot

• This is a 1×2.0bd/1.0ba + 2×1.0bd/1.0ba units multifamily listed at $226k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $850 ($10k/yr) — positive. Per door: $283/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $226k).
• Recommended offer: $199k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 5.0% in Independence — 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 82/100 on livability (#10 in MO, #1,296 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, employment D+, crime F.
• Independence 30 (suburban): math 26% / reading 38% proficiency, ranked #252 of 324 in MO (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.4%/yr); 127 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $3,052/mo this rent would consume 62% of the median local household income ($59k/yr) (locally 965% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $63k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 210 days — a 12% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $198,792 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 days. Have you received any prior offers? Is the seller open to a 12% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.35% ✓
• Cap rate: 10.81%
• Cash-on-cash: 16.12%
• DSCR: 1.72
• GRM: 6.2

CMA / ARV

• ARV (median comp): $207,155
• List price: $225,900
• Delta: 9.05%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1510 Harvard Ave	0.64mi	6/2.0	2,112	9mo	$205,900	$97	46
1414 S Ash Ave	0.72mi	5/— (-1)	—	20mo	$145,000	—	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 · 5.43% rent growth · sell at horizon

5-year hold

• IRR: 9.8%
• Equity multiple: 1.40×
• Total profit: $25,216
• Equity at exit: $33,682

10-year hold

• IRR: 20.9%
• Equity multiple: 2.97×
• Total profit: $124,814
• Equity at exit: $19,532

Cash invested: $63,252 (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 64052

• Home prices YoY: -34.6%
• Rents YoY: 5.4%
• Active inventory: 127
• Price-to-rent: 15.9×

Monthly cashflow live

• Estimated rent: $3,052 high
• Mortgage (P&I): −$1,185
• Tax est. 1.5%: −$282 /mo · $3,388/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$641
• Net cashflow: $850

Break-even live

Break-even rent $1,976

Max offer price $225,900

Occupancy floor 67%

Sensitivity live

Price	-10% $1,006	-5% $928	+0% $850	+5% $772	+10% $694
Rent	-10% $609	-5% $729	+0% $850	+5% $970	+10% $1,091
Rate	-1.0pp $964	-0.5pp $907	base $850	+0.5pp $791	+1.0pp $732

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

Units	Beds	Baths	Est. rent
1× unit	2.0	1	$1,187
▸ 2× units	1.0	1	$1,864
Total (3 units)			$3,052

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: $56,475
• Closing costs: $6,777
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1416 S Hardy Ave Independence, MO	5.0	2.0	1328	$1,625	$1.22	44d	1	0.69mi

Listing history 20 events

1. 2026-06-18
   days on market $225,900 Active 210 DOM
2. 2026-06-17
   days on market $225,900 Active 209 DOM
3. 2026-06-16
   days on market $225,900 Active 208 DOM
4. 2026-06-15
   days on market $225,900 Active 207 DOM
5. 2026-06-13
   days on market $225,900 Active 205 DOM
6. 2026-06-09
   days on market $225,900 Active 201 DOM
7. 2026-06-08
   days on market $225,900 Active 200 DOM
8. 2026-06-07
   days on market $225,900 Active 199 DOM
9. 2026-06-05
   days on market $225,900 Active 196 DOM
10. 2026-06-03
    days on market $225,900 Active 195 DOM
11. 2026-06-02
    days on market $225,900 Active 194 DOM
12. 2026-06-01
    days on market $225,900 Active 193 DOM
13. 2026-05-31
    days on market $225,900 Active 192 DOM
14. 2026-04-17
    price $225,900 1315-char remark

    Show marketing remark (1315 chars)

    PRICE DROP! Triplex that checks a lot of boxes for value-add investors looking for cash flow NOW, offering a clean, functional setup with a unit mix that consistently attracts tenants seeking affordable, practical living. The property includes one spacious 2BR/1BA unit and two well-sized 1BR/1BA units, each with layouts that prioritize livability and efficiency over high-end finishes. It’s not about luxury interiors here — it’s about space, usability, and a property that performs. Long-term ownership shows in the major improvements already completed, including updates to plumbing, electrical, AC systems, exterior paint, awnings, and the majority of windows. Each unit features central heating and cooling, and tenants cover gas and electric, keeping owner expenses low with responsibility primarily limited to water and maintenance. Located on a quiet, tree-lined street surrounded by primarily owner-occupied homes, the setting offers a stable, neighborhood feel that tenants appreciate. Off-street parking for multiple vehicles and a large shared storage area provide additional functionality, with the ability to add a laundry setup for increased income. A straightforward investment with strong in-place income and clear upside — step in, improve over time, and make it your own.

15. 2026-03-02
    status Active 1315-char remark

    Show marketing remark (1315 chars)

    PRICE DROP! Triplex that checks a lot of boxes for value-add investors looking for cash flow NOW, offering a clean, functional setup with a unit mix that consistently attracts tenants seeking affordable, practical living. The property includes one spacious 2BR/1BA unit and two well-sized 1BR/1BA units, each with layouts that prioritize livability and efficiency over high-end finishes. It’s not about luxury interiors here — it’s about space, usability, and a property that performs. Long-term ownership shows in the major improvements already completed, including updates to plumbing, electrical, AC systems, exterior paint, awnings, and the majority of windows. Each unit features central heating and cooling, and tenants cover gas and electric, keeping owner expenses low with responsibility primarily limited to water and maintenance. Located on a quiet, tree-lined street surrounded by primarily owner-occupied homes, the setting offers a stable, neighborhood feel that tenants appreciate. Off-street parking for multiple vehicles and a large shared storage area provide additional functionality, with the ability to add a laundry setup for increased income. A straightforward investment with strong in-place income and clear upside — step in, improve over time, and make it your own.

16. 2026-03-02
    price $227,900 1315-char remark

    Show marketing remark (1315 chars)

    PRICE DROP! Triplex that checks a lot of boxes for value-add investors looking for cash flow NOW, offering a clean, functional setup with a unit mix that consistently attracts tenants seeking affordable, practical living. The property includes one spacious 2BR/1BA unit and two well-sized 1BR/1BA units, each with layouts that prioritize livability and efficiency over high-end finishes. It’s not about luxury interiors here — it’s about space, usability, and a property that performs. Long-term ownership shows in the major improvements already completed, including updates to plumbing, electrical, AC systems, exterior paint, awnings, and the majority of windows. Each unit features central heating and cooling, and tenants cover gas and electric, keeping owner expenses low with responsibility primarily limited to water and maintenance. Located on a quiet, tree-lined street surrounded by primarily owner-occupied homes, the setting offers a stable, neighborhood feel that tenants appreciate. Off-street parking for multiple vehicles and a large shared storage area provide additional functionality, with the ability to add a laundry setup for increased income. A straightforward investment with strong in-place income and clear upside — step in, improve over time, and make it your own.

17. 2026-01-16
    historical 1315-char remark

    Show marketing remark (1315 chars)

    PRICE DROP! Triplex that checks a lot of boxes for value-add investors looking for cash flow NOW, offering a clean, functional setup with a unit mix that consistently attracts tenants seeking affordable, practical living. The property includes one spacious 2BR/1BA unit and two well-sized 1BR/1BA units, each with layouts that prioritize livability and efficiency over high-end finishes. It’s not about luxury interiors here — it’s about space, usability, and a property that performs. Long-term ownership shows in the major improvements already completed, including updates to plumbing, electrical, AC systems, exterior paint, awnings, and the majority of windows. Each unit features central heating and cooling, and tenants cover gas and electric, keeping owner expenses low with responsibility primarily limited to water and maintenance. Located on a quiet, tree-lined street surrounded by primarily owner-occupied homes, the setting offers a stable, neighborhood feel that tenants appreciate. Off-street parking for multiple vehicles and a large shared storage area provide additional functionality, with the ability to add a laundry setup for increased income. A straightforward investment with strong in-place income and clear upside — step in, improve over time, and make it your own.

18. 2025-10-07
    listed $230,000 Active 1315-char remark

    Show marketing remark (1315 chars)

    PRICE DROP! Triplex that checks a lot of boxes for value-add investors looking for cash flow NOW, offering a clean, functional setup with a unit mix that consistently attracts tenants seeking affordable, practical living. The property includes one spacious 2BR/1BA unit and two well-sized 1BR/1BA units, each with layouts that prioritize livability and efficiency over high-end finishes. It’s not about luxury interiors here — it’s about space, usability, and a property that performs. Long-term ownership shows in the major improvements already completed, including updates to plumbing, electrical, AC systems, exterior paint, awnings, and the majority of windows. Each unit features central heating and cooling, and tenants cover gas and electric, keeping owner expenses low with responsibility primarily limited to water and maintenance. Located on a quiet, tree-lined street surrounded by primarily owner-occupied homes, the setting offers a stable, neighborhood feel that tenants appreciate. Off-street parking for multiple vehicles and a large shared storage area provide additional functionality, with the ability to add a laundry setup for increased income. A straightforward investment with strong in-place income and clear upside — step in, improve over time, and make it your own.

19. 2009-03-05
    soldstatus 194-char remark

    Show marketing remark (194 chars)

    Carriage house converted to 3 apartment units, 1 bedroom, 1 bath, Rent $400 per unit. Seller owns house next door and 4 additional lots. Would sell as a package deal. See MLS# 1495130 for house.

20. 2009-01-12
    listed $69,000 194-char remark

    Show marketing remark (194 chars)

    Carriage house converted to 3 apartment units, 1 bedroom, 1 bath, Rent $400 per unit. Seller owns house next door and 4 additional lots. Would sell as a package deal. See MLS# 1495130 for house.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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: $36,624
• − Mortgage interest: −$12,654
• − Property taxes: −$3,388
• − Insurance: −$1,130
• − Repairs & maintenance: −$2,930
• − Management: −$2,930
• − Depreciation: −$6,572
• Taxable income: $7,021
• Est. tax owed @ 24.0%: −$1,685
• After-tax cash flow: $8,514/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

The property is in fair condition with moderate repairs needed. Painting, landscaping, and window replacement can significantly increase its value.

Repairs flagged

• Minor Awning-style windows — Awning-style windows may need cleaning or minor repairs
• Minor Fenced yard — Overgrown grass and weeds in the yard need trimming

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint can improve curb appeal and interior aesthetics
• Both Landscaping and trimming overgrown grass — A well-maintained yard can enhance curb appeal and attract tenants
• Both Replacing awning-style windows — New windows can improve energy efficiency and increase property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Awning-style windows · Awning-style windows may need cleaning or minor repairs	Minor	$500–3,000
Fenced yard · Overgrown grass and weeds in the yard need trimming	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both Landscaping and trimming overgrown grass — A well-maintained yard can enhance curb appeal and attract tenants ↑
• Both Replacing awning-style windows — New windows can improve energy efficiency and increase property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Independence 30
• NCES district ID: 2915480
• Math proficiency: 26% ▼ -8.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $41,843
• Composite: 27.04/100
• National rank: #7054
• State rank: #252 of 324 in MO

Livability — Independence

• Score: 82/100
• State rank: #10
• US rank: #1296

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, MO
• County: Jackson County · 687,798 people
• City population: 117,675
• Metro: Kansas City, MO-KS
• Population (ZIP): 22,138
• Household income: $59,007
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 965.0

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 0.56)
• Race & ethnicity: White 62% Hispanic / Latino 23% Two or more races 15% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 12% Slovak 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 85% English-only · Spanish 13% Other Asian/Pacific 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: ▼ -160.06%
• Current HPI: 302.1124
• Rent YoY: ▲ 5.43%
• 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

+227.4% since first listed

7 events — show timeline

• 2026-04-17 Price Changed $225,900 Heartland MLS as Distributed by MLS Grid
• 2026-03-02 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-03-02 Price Changed $227,900 Heartland MLS as Distributed by MLS Grid
• 2026-01-16 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-10-07 Listed $230,000 Heartland MLS as Distributed by MLS Grid
• 2009-03-05 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2009-01-12 Listed $69,000 Heartland MLS as Distributed by MLS Grid