1612 Washington Ave · Kansas City, KS 66102

$799,500

14 bd · 7.0 ba · 3,294 sqft · MultiFamily public records · 140 Days on market

Built 1964 0.50 ac lot

---

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 +20.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +4.8/10.0
• Rent growth +4.6/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Price REDUCED! 100% occupied - Crush the 1% rule (now $8,650 rental income per month!) with this turnkey 10 plex. Fantastic opportunity in Kansas City, KS with pricing that stands out. Additional rental upside remains (see rent study). Located at 1612–1616 Washington Ave, the property consists of ten large 2BR/1BA units across two separate buildings in a strong rental corridor near State Avenue with quick access to grocery, restaurants, and major employment centers that support consistent tenant demand. Units have been updated with modern finishes, fixtures, flooring, and refreshed color schemes, supporting strong in-place rents with clear runway to push to market levels. Significant

Key facts

• Modern finishes
• 0.5 acre lot
• 10 parking spots

Tags

• 10 UNIT APARTMENT ASSET
• STRONG RENTAL CORRIDOR
• QUICK ACCESS TO GROCERY
• MODERN FINISHES
• PLUMBING STACK REPLACEMENTS
• WATER HEATER UPGRADES

Property features AI

Finance

• Other: Property subtype: Apartment; Lot size about 0.5 acres
• Financial info: Gross income reported at $124,830; Operating expenses include real estate tax
• HOA & community: No association fees; No maintenance provided

Exterior

• Parking: Off-street and on-street parking available; Parking for 10 vehicles
• Utilities: Public water; Public sewer; Independent heat and air; Individual water heaters; Master meters
• Home design: Residential income property (apartment); Two-story building; Zoned R2
• Construction: Brick/mortar construction; Composition roof; Approximately 51–75 years old
• Exterior features: Not in a flood plain; Buildings face north side of Washington Avenue (directions provided)

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Ten 2-bedroom units
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: Has basement
• Laundry & utility: Individual water heaters; Master meters

What this means for you Summary

Snapshot

• This is a 7 × 2.0-bed/1.0-bath units multifamily listed at $800k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $158/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $788k (1.5% below list).
• Recommended offer: $704k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.8% 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 72/100 on livability (#103 in KS) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment D-.
• Kansas City (urban): math 8% / reading 15% proficiency, ranked #169 of 169 in KS (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.4%/yr); 109 active listings in the ZIP; 369 units permitted in Wyandotte County in 2024 (236 in 5+ unit buildings).
• At $7,875/mo this rent would consume 179% of the median local household income ($53k/yr) (locally 1253% 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 $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Wyandotte County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $224k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($704k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $140k; list at $800k implies a 471% gain — meaningful room to come down on a strong offer.

Recommended offer $703,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 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. Built in 1964 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.98% ✗
• Cap rate: 7.96%
• Cash-on-cash: 5.94%
• DSCR: 1.26
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -2.0%
• Equity multiple: 0.92×
• Total profit: $-17,460
• Equity at exit: $119,208

10-year hold

• IRR: 12.3%
• Equity multiple: 2.18×
• Total profit: $264,589
• Equity at exit: $69,126

Cash invested: $223,860 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kansas: 83 Strongly Landlord-Friendly · R+10
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; moderate court pace.

Methodology + full state rankings →

ZIP-level market 66102

• Home prices YoY: -8.7%
• Rents YoY: 8.4%
• Active inventory: 109
• Price-to-rent: 59.2×

Monthly cashflow live

• Estimated rent: $7,875 medium
• Mortgage (P&I): −$4,193
• Tax from tax record: −$587 /mo · $7,042/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,654
• Net cashflow: $1,109

Break-even live

Break-even rent $6,472

Max offer price $799,500

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 7× units	2.0	1	$7,875
Total (7 units)			$7,875

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: $199,875
• Closing costs: $23,985
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-15
   days on market $799,500 Active 140 DOM
2. 2026-06-13
   days on market $799,500 Active 138 DOM
3. 2026-06-13
   days on market $799,500 Active 137 DOM
4. 2026-06-09
   days on market $799,500 Active 134 DOM
5. 2026-06-08
   days on market $799,500 Active 133 DOM
6. 2026-06-07
   days on market $799,500 Active 132 DOM
7. 2026-06-05
   days on market $799,500 Active 129 DOM
8. 2026-06-03
   days on market $799,500 Active 128 DOM
9. 2026-06-02
   days on market $799,500 Active 127 DOM
10. 2026-06-01
    days on market $799,500 Active 126 DOM
11. 2026-05-31
    days on market $799,500 Active 125 DOM
12. 2026-05-15
    status Active
13. 2026-05-15
    historical
14. 2026-04-25
    price $799,500
15. 2026-01-26
    listed $820,000 Active
16. 1999-03-01
    soldstatus $139,950

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

Tax reassessment forecast KS · Resets to sale price

• Current annual tax: $7,042 · $587/mo
• Projected year-2 tax: $11,273 · $939/mo
• Expected delta: +$4,231/yr (+$353/mo · 60.1%)

ⓘ 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 ≥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: $94,500
• − Mortgage interest: −$44,784
• − Property taxes: −$7,042
• − Insurance: −$3,998
• − Repairs & maintenance: −$7,560
• − Management: −$7,560
• − Depreciation: −$23,258
• Taxable income: $298
• Est. tax owed @ 24.0%: −$72
• After-tax cash flow: $13,232/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
• NCES district ID: 2007950
• Math proficiency: 8% ▼ -10.00%
• Reading proficiency: 15% ▼ -4.00%
• Median HH income: $34,774
• Composite: 9.38/100
• National rank: #9856
• State rank: #169 of 169 in KS

Livability — Kansas City

• Score: 72/100
• State rank: #103
• US rank: #6054

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kansas City, KS
• County: Wyandotte County · 130,206 people
• City population: 130,206
• Metro: Kansas City, MO-KS
• Population (ZIP): 29,443
• Household income: $52,861
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 1253.0

Population outlook (Wyandotte County) Hauer SSP2

• Today (2025): 177,063 people
• By 2030: 183,212 · +3.5%
• By 2040: 195,697 · +10.5%
• By 2050: 207,897 · +17.4%
• By 2075: 236,169 · +33.4%
• By 2100: 255,790 · +44.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 53% White 19% Black 17% Two or more races 15% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 43%
• Common ancestry: Italian 1% Romanian 0%
• Foreign-born: 28% · Canada, Philippines
• Languages at home: 52% English-only · Spanish 42% Other Asian/Pacific 5% Other Indo-European 1%

Political lean MEDSL · Wyandotte

• 2024 margin: Strong D (+23.9) · D 61.1% · R 37.3% · Other 1.6%
• 2008→2024 swing: -17.0pp toward R · 2008: 40.9pp · 2024: 23.9pp
• All cycles: 2024: D+23.9 2020: D+30.9 2016: D+29.1 2012: D+36.4 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.64%
• Current HPI: 383.6185
• Rent YoY: ▲ 8.36%
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+471.3% since first listed

5 events — show timeline

• 2026-05-15 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-05-15 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-04-25 Price Changed $799,500 Heartland MLS as Distributed by MLS Grid
• 2026-01-26 Listed $820,000 Heartland MLS as Distributed by MLS Grid
• 1999-03-01 Sold (Public Records) $139,950 Public Records

Property tax history

+22.2%/yr

Latest (2025): $7,042 · +13.3% YoY. Source: county tax records.