5409 Paseo Blvd · Kansas City, MO 64110

$257,000

4 bd · 2.0 ba · 2,096 sqft · MultiFamily public records · 170 Days on market

Built 1923 7,970 sqft lot Est $381k · 33% under

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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 +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +7.4/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Completely renovated duplex within a 5 minute drive to either Rockhurst or UMKC campuses. ALSO great for FIFA rental!(Map in photos shows proximity to both schools. ) Duplex was renovated in 2024-2025: all new interior paint, updated light fixtures, new kitchen appliances, exterior painted and new gutters added. Completely updated electrical throughout he entire duplex. 5409. The lease on 5409 ends 10/31/26 renting for $1150 per month. Market leases are closer to $1500-$1600. Lease on 5411 is vacant and can be shown. Excellent Turnkey investment property to begin generating positive cashflow on Day 1. Great "house hack" or investment property for student housing. Property is being sold "As Is".

Key facts

• 7,970 sq ft lot
• Built 1923
• Listed 170 days

🏷️ Possibly a rental listed for sale. The $257,000 price doesn't fit this home's estimated sale value (~$380,993) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $257k.

Deal economics

• At list price, monthly cash flow is $743 ($9k/yr) — positive. Per door: $371/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $257k).
• Recommended offer: $226k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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 (+4.0%/yr); tight market (median 1 DOM); 125 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $3,174/mo this rent would consume 60% of the median local household income ($63k/yr) (locally 962% 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 $8k 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 + 4.0% rent growth), your $72k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $226,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 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 1923 — 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: 1.24% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.39%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

• ARV (median comp): $380,993
• List price: $257,000
• Delta: -32.54%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5401 Paseo Blvd	0.02mi	4/2.0	2,178 (+4%)	4mo	$265,000	$122	89
5410-5412 Paseo Blvd	0.06mi	4/—	1,984 (-5%)	8mo	$229,900	$116	82
5514 Paseo Blvd	0.16mi	4/2.0	2,400 (+14%)	3mo	$300,000	$125	66

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 · 3.95% rent growth · sell at horizon

5-year hold

• IRR: 3.1%
• Equity multiple: 1.12×
• Total profit: $8,761
• Equity at exit: $38,320

10-year hold

• IRR: 13.6%
• Equity multiple: 2.13×
• Total profit: $81,516
• Equity at exit: $22,221

Cash invested: $71,960 (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 64110

• Rents YoY: 4.0%
• Median DOM (111 sales): 1 d
• Active inventory: 125
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $3,174 high
• Mortgage (P&I): −$1,348
• Tax from tax record: −$310 /mo · $3,719/yr
• Insurance: −$107
• HOA: −$0
• Vacancy / Maint / Mgmt: −$667
• Net cashflow: $743

Break-even live

Break-even rent $2,234

Max offer price $257,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$3,174
Total (2 units)			$3,174

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: $64,250
• Closing costs: $7,710
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5430 Michigan Ave Kansas City, MO	3.0	1.0	1710	$1,100	$0.64	19d	1	0.19mi
5218 Highland Ave Kansas City, MO	5.0	2.0	2300	$1,995	$0.87	7d	1	0.24mi
5241 Brookwood Ave Kansas City, MO	3.0	2.0	1431	$1,550	$1.08	43d	1	0.30mi
1330 Rockhurst Rd Kansas City, MO	4.0	2.0	1984	$2,500	$1.26	43d	1	0.36mi
5414 Brooklyn Ave Kansas City, MO	3.0	1.5	1856	$1,650	$0.89	16d	1	0.37mi
5344 Brooklyn Ave Kansas City, MO	3.0	1.0	2040	$1,495	$0.73	7d	1	0.38mi
5122 Paseo Blvd Kansas City, MO	3.0	1.0	1573	$1,595	$1.01	10d	1	0.38mi
5346 Harrison St Kansas City, MO	3.0	1.0	1580	$1,695	$1.07	19d	1	0.44mi
5346 Harrison St Kansas City, MO	3.0	1.0	1580	$1,695	$1.07	16d	1	0.45mi
5712 Garfield Ave Kansas City, MO	4.0	2.0	2200	$1,900	$0.86	16d	1	0.48mi
2420 E 51st St Kansas City, MO	3.0	2.0	1460	$1,350	$0.92	23d	1	0.72mi
5038 S Benton Ave Kansas City, MO	4.0	3.0	1500	$1,875	$1.25	21d	1	0.93mi
6227 Rockhill Rd Kansas City, MO	4.0	2.0	2076	$1,995	$0.96	23d	1	1.09mi
5017 Grand Ave Kansas City, MO	4.0	4.5	2000	$4,600	$2.30	21d	1	1.10mi
5125 Walnut St Kansas City, MO	3.0	3.0	1400	$2,690	$1.92	1d	1	1.10mi
4511 Park Ave Kansas City, MO	4.0	2.5	1915	$1,982	$1.03	23d	1	1.24mi
4444 Troost Ave Kansas City, MO	5.0	2.0	2400	$2,250	$0.94	43d	1	1.26mi
4440 Troost Ave Kansas City, MO	5.0	2.0	2400	$2,250	$0.94	43d	1	1.26mi
4219 Woodland Ave Kansas City, MO	4.0	2.0	1566	$1,900	$1.21	1d	1	1.46mi
4901 Wornall Rd Kansas City, MO	1.0–3.0	1.0–3.0	1525	$3,195	$2.10	14d	1	1.49mi

Listing history 21 events

1. 2026-05-20
   status Pending 724-char remark

   Show marketing remark (724 chars)

   Completely renovated duplex within a 5 minute drive to either Rockhurst or UMKC campuses. ALSO great for FIFA rental!(Map in photos shows proximity to both schools. ) Duplex was renovated in 2024-2025: all new interior paint, updated light fixtures, new kitchen appliances, exterior painted and new gutters added. Completely updated electrical throughout he entire duplex. 5409. The lease on 5409 ends 10/31/26 renting for $1150 per month. Market leases are closer to $1500-$1600. Lease on 5411 is vacant and can be shown. Excellent Turnkey investment property to begin generating positive cashflow on Day 1. Great "house hack" or investment property for student housing. Property is being sold "As Is".

2. 2026-05-14
   historical Active Under Contract 724-char remark

   Show marketing remark (724 chars)

   Completely renovated duplex within a 5 minute drive to either Rockhurst or UMKC campuses. ALSO great for FIFA rental!(Map in photos shows proximity to both schools. ) Duplex was renovated in 2024-2025: all new interior paint, updated light fixtures, new kitchen appliances, exterior painted and new gutters added. Completely updated electrical throughout he entire duplex. 5409. The lease on 5409 ends 10/31/26 renting for $1150 per month. Market leases are closer to $1500-$1600. Lease on 5411 is vacant and can be shown. Excellent Turnkey investment property to begin generating positive cashflow on Day 1. Great "house hack" or investment property for student housing. Property is being sold "As Is".

3. 2026-05-08
   price $257,000 724-char remark

   Show marketing remark (724 chars)

   Completely renovated duplex within a 5 minute drive to either Rockhurst or UMKC campuses. ALSO great for FIFA rental!(Map in photos shows proximity to both schools. ) Duplex was renovated in 2024-2025: all new interior paint, updated light fixtures, new kitchen appliances, exterior painted and new gutters added. Completely updated electrical throughout he entire duplex. 5409. The lease on 5409 ends 10/31/26 renting for $1150 per month. Market leases are closer to $1500-$1600. Lease on 5411 is vacant and can be shown. Excellent Turnkey investment property to begin generating positive cashflow on Day 1. Great "house hack" or investment property for student housing. Property is being sold "As Is".

4. 2025-12-01
   listed $265,000 Active 724-char remark

   Show marketing remark (724 chars)

   Completely renovated duplex within a 5 minute drive to either Rockhurst or UMKC campuses. ALSO great for FIFA rental!(Map in photos shows proximity to both schools. ) Duplex was renovated in 2024-2025: all new interior paint, updated light fixtures, new kitchen appliances, exterior painted and new gutters added. Completely updated electrical throughout he entire duplex. 5409. The lease on 5409 ends 10/31/26 renting for $1150 per month. Market leases are closer to $1500-$1600. Lease on 5411 is vacant and can be shown. Excellent Turnkey investment property to begin generating positive cashflow on Day 1. Great "house hack" or investment property for student housing. Property is being sold "As Is".

5. 2025-11-27
   historical $265,000 724-char remark

   Show marketing remark (724 chars)

   Completely renovated duplex within a 5 minute drive to either Rockhurst or UMKC campuses. ALSO great for FIFA rental!(Map in photos shows proximity to both schools. ) Duplex was renovated in 2024-2025: all new interior paint, updated light fixtures, new kitchen appliances, exterior painted and new gutters added. Completely updated electrical throughout he entire duplex. 5409. The lease on 5409 ends 10/31/26 renting for $1150 per month. Market leases are closer to $1500-$1600. Lease on 5411 is vacant and can be shown. Excellent Turnkey investment property to begin generating positive cashflow on Day 1. Great "house hack" or investment property for student housing. Property is being sold "As Is".

6. 2025-10-11
   historical $1,150
7. 2025-09-04
   listed $1,150
8. 2025-07-11
   historical $1,150
9. 2025-07-01
   listed $1,150
10. 2025-04-15
    soldstatus
11. 2024-04-12
    soldstatus Closed 283-char remark

    Show marketing remark (283 chars)

    Calling all investors! Great opportunity to purchase in the Blue Hills subdivision. 2-unit, 2-bedroom duplex. All new plumbing, h-vac, updated electrical, and newer windows added in 2017. Owners added new appliances and updated flooring. Come see what this investment has to offer!

12. 2024-03-24
    status Pending 283-char remark

    Show marketing remark (283 chars)

    Calling all investors! Great opportunity to purchase in the Blue Hills subdivision. 2-unit, 2-bedroom duplex. All new plumbing, h-vac, updated electrical, and newer windows added in 2017. Owners added new appliances and updated flooring. Come see what this investment has to offer!

13. 2024-03-19
    price $229,000 283-char remark

    Show marketing remark (283 chars)

    Calling all investors! Great opportunity to purchase in the Blue Hills subdivision. 2-unit, 2-bedroom duplex. All new plumbing, h-vac, updated electrical, and newer windows added in 2017. Owners added new appliances and updated flooring. Come see what this investment has to offer!

14. 2024-03-05
    price $239,000 283-char remark

    Show marketing remark (283 chars)

    Calling all investors! Great opportunity to purchase in the Blue Hills subdivision. 2-unit, 2-bedroom duplex. All new plumbing, h-vac, updated electrical, and newer windows added in 2017. Owners added new appliances and updated flooring. Come see what this investment has to offer!

15. 2024-01-25
    price $249,000 283-char remark

    Show marketing remark (283 chars)

    Calling all investors! Great opportunity to purchase in the Blue Hills subdivision. 2-unit, 2-bedroom duplex. All new plumbing, h-vac, updated electrical, and newer windows added in 2017. Owners added new appliances and updated flooring. Come see what this investment has to offer!

16. 2023-11-28
    listed $274,000 Active 283-char remark

    Show marketing remark (283 chars)

    Calling all investors! Great opportunity to purchase in the Blue Hills subdivision. 2-unit, 2-bedroom duplex. All new plumbing, h-vac, updated electrical, and newer windows added in 2017. Owners added new appliances and updated flooring. Come see what this investment has to offer!

17. 2016-10-04
    soldstatus
18. 2016-09-28
    soldstatus Sold
19. 2016-09-12
    historical Contingent - Accepting Backup Offers
20. 2016-09-01
    listed $60,000 Active
21. 1987-05-28
    soldstatus

ⓘ 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: $3,719 · $310/mo
• Projected year-2 tax: $3,719 · $310/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 5/10 Major FEMA zone X (unshaded) · 24% 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,088
• − Mortgage interest: −$14,396
• − Property taxes: −$3,719
• − Insurance: −$1,285
• − Repairs & maintenance: −$3,047
• − Management: −$3,047
• − Depreciation: −$7,476
• Taxable income: $5,117
• Est. tax owed @ 24.0%: −$1,228
• After-tax cash flow: $7,684/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): 16,878
• Household income: $63,044
• Rent vs Own: 52.2% rent · 47.8% own
• Severe rent burden: 962.0

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 0.63)
• Race & ethnicity: White 49% Black 34% Two or more races 10% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -514.37%
• Current HPI: 371.8501
• Rent YoY: ▲ 3.95%
• 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

+328.3% since first listed

21 events — show timeline

• 2026-05-20 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-14 Contingent — Heartland MLS as Distributed by MLS Grid
• 2026-05-08 Price Changed $257,000 Heartland MLS as Distributed by MLS Grid
• 2025-12-01 Listed $265,000 Heartland MLS as Distributed by MLS Grid
• 2025-11-27 Coming Soon $265,000 Heartland MLS as Distributed by MLS Grid
• 2025-10-11 Rental Removed $1,150 APPFOLIO
• 2025-09-04 Listed for Rent $1,150 APPFOLIO
• 2025-07-11 Rental Removed $1,150 APPFOLIO
• 2025-07-01 Listed for Rent $1,150 APPFOLIO
• 2025-04-15 Sold (Public Records) — Public Records
• 2024-04-12 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2024-03-24 Pending — Heartland MLS as Distributed by MLS Grid
• 2024-03-19 Price Changed $229,000 Heartland MLS as Distributed by MLS Grid
• 2024-03-05 Price Changed $239,000 Heartland MLS as Distributed by MLS Grid
• 2024-01-25 Price Changed $249,000 Heartland MLS as Distributed by MLS Grid
• 2023-11-28 Listed $274,000 Heartland MLS as Distributed by MLS Grid
• 2016-10-04 Sold (Public Records) — Public Records
• 2016-09-28 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2016-09-12 Contingent — Heartland MLS as Distributed by MLS Grid
• 2016-09-01 Listed $60,000 Heartland MLS as Distributed by MLS Grid
• 1987-05-28 Sold (Public Records) — Public Records

Property tax history

+15.8%/yr

Latest (2025): $3,719 · +149.5% YoY. Source: county tax records.