1206-1208 W White Oak St · Independence, MO 64050

$479,000

30 bd · 25.0 ba · — sqft · MultiFamily · 133 Days on market

Built 1925 Fair condition 1,798 sqft lot ↓ 34% since listing

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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 +20.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.4/10.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• 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 (5+ Unit). Listing-text estimate: 5 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 MLS

White Oak Apartments is a well-maintained 5-unit multifamily property located just minutes from the heart of downtown Independence and across the street from Graceland University, making it an ideal asset for student and young professional housing. Built in 1925, the property offers a classic exterior with solid bones and features four 1-bedroom/1-bath units and one 2-bedroom/1-bath unit, all with cozy layouts, washer/dryer hookups. The building has been cared for over the years while still presenting an excellent value-add opportunity through further cosmetic upgrades to drive rental growth. All units have been updated to varying degrees over the past couple years. Landlord pays water and gas, they are on a master meter. Electric is seperately metered and tenants pay their own electric with the exception of 2 voucher tenants. The location is a major highlight, with close proximity to downtown shopping, coffee shops, grocery stores, parks, and a wide variety of restaurants, along with access to public transportation and commuter routes. Residents benefit from walkable amenities, nearby green space, and the historic Independence Square, creating strong and consistent rental demand. This is a compelling opportunity to acquire a character-rich apartment building in a high-demand rental pocket with upside potential.

Key facts

• Updated units
• Nearby green space
• Classic exterior

Tags

• CLASSIC EXTERIOR
• WASHER DRYER HOOKUPS
• UPDATED UNITS
• CLOSE PROXIMITY TO DOWNTOWN
• WALKABLE AMENITIES
• NEARBY GREEN SPACE

What this means for you Summary

Snapshot

• This is a 4×1bd/1ba + 1×2bd/1ba units multifamily listed at $479k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $615 ($7k/yr) — positive. Per door: $123/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $479k).
• Recommended offer: $422k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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: 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.
• Zoned schools: Bryant Elem. (math 47% / reading 47%, grade D-, #347 of 1,115 statewide, top 35%, 235 students, 69% FRL); Bingham Middle (math 19% / reading 33%, grade F, #316 of 391 statewide, top 81%, 774 students, 69% FRL); William Chrisman High (math 21% / reading 45%, grade F, #351 of 521 statewide, top 68%, 1,406 students, 66% FRL).
• Market conditions: Rents rising (+3.8%/yr); 127 active listings in the ZIP; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $4,969/mo this rent would consume 122% of the median local household income ($49k/yr) (locally 972% 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 $3k of loan paydown is wiped out by about $14k 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.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($422k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $421,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 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 1925 — 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: 1.04% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.50%
• DSCR: 1.24
• GRM: 8.0

CMA / ARV

• ARV (median comp): $238,038
• List price: $479,000
• Delta: 101.23%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.79% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.74×
• Total profit: $-34,377
• Equity at exit: $71,420

10-year hold

• IRR: 3.7%
• Equity multiple: 1.28×
• Total profit: $37,426
• Equity at exit: $41,415

Cash invested: $134,120 (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 64050

• Home prices YoY: -15.5%
• Rents YoY: 3.8%
• Active inventory: 127
• Price-to-rent: 41.5×

Monthly cashflow live

• Estimated rent: $4,969 high
• Mortgage (P&I): −$2,512
• Tax est. 1.5%: −$599 /mo · $7,185/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,043
• Net cashflow: $615

Break-even live

Break-even rent $4,190

Max offer price $479,000

Occupancy floor 83%

Sensitivity live

Price	-10% $946	-5% $781	+0% $615	+5% $450	+10% $284
Rent	-10% $223	-5% $419	+0% $615	+5% $812	+10% $1,008
Rate	-1.0pp $856	-0.5pp $737	base $615	+0.5pp $491	+1.0pp $365

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$3,848
1× unit	2	1	$1,122
Total (5 units)			$4,969

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: $119,750
• Closing costs: $14,370
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $479,000 Active 133 DOM
2. 2026-06-18
   days on market $479,000 Active 130 DOM
3. 2026-06-17
   days on market $479,000 Active 129 DOM
4. 2026-06-16
   days on market $479,000 Active 128 DOM
5. 2026-06-15
   days on market $479,000 Active 127 DOM
6. 2026-06-13
   days on market $479,000 Active 125 DOM
7. 2026-06-09
   days on market $479,000 Active 121 DOM
8. 2026-06-08
   days on market $479,000 Active 120 DOM
9. 2026-06-07
   days on market $479,000 Active 119 DOM
10. 2026-06-05
    days on market $479,000 Active 116 DOM
11. 2026-06-03
    days on market $479,000 Active 115 DOM
12. 2026-06-02
    days on market $479,000 Active 114 DOM
13. 2026-06-01
    days on market $479,000 Active 113 DOM
14. 2026-05-31
    days on market $479,000 Active 112 DOM
15. 2026-02-08
    listed $479,000 Active 1333-char remark

    Show marketing remark (1333 chars)

    White Oak Apartments is a well-maintained 5-unit multifamily property located just minutes from the heart of downtown Independence and across the street from Graceland University, making it an ideal asset for student and young professional housing. Built in 1925, the property offers a classic exterior with solid bones and features four 1-bedroom/1-bath units and one 2-bedroom/1-bath unit, all with cozy layouts, washer/dryer hookups. The building has been cared for over the years while still presenting an excellent value-add opportunity through further cosmetic upgrades to drive rental growth. All units have been updated to varying degrees over the past couple years. Landlord pays water and gas, they are on a master meter. Electric is seperately metered and tenants pay their own electric with the exception of 2 voucher tenants. The location is a major highlight, with close proximity to downtown shopping, coffee shops, grocery stores, parks, and a wide variety of restaurants, along with access to public transportation and commuter routes. Residents benefit from walkable amenities, nearby green space, and the historic Independence Square, creating strong and consistent rental demand. This is a compelling opportunity to acquire a character-rich apartment building in a high-demand rental pocket with upside potential.

16. 2024-06-07
    soldstatus Closed 1418-char remark

    Show marketing remark (1418 chars)

    MAJOR PRICE REDUCTION. Seller wants to sell! Over an 8% cap rate as-is! Get to 10% cap rate by placing program/voucher tenants in remaining units. This is a package of 13 doors across 2 buildings - 1208 W. White Oak Street (5 plex), 423 N. Spring Street/317 W. Farmer Street (8 plex), Independence, MO (All located less than a mile from each other). Experience exceptional cash flow, low price per unit yet in a suburban setting. Continue to build wealth by cash flowing, increasing rents using program-based tenants (Swope Health, ReStart, etc. .. ), and maintaining property. As Kansas City continues to appreciate so will Independence. Hold for 5-10 years and expand your real estate portfolio. Implement bill back programs and reduce owner-paid utilities with LED lighting, low flow toilets, and more. Rare exceptional in place income and cap rate. Lots of recent CapEx - new windows (all units!) new roof (1 building), partial roof replacement (one building), new exterior paint (both buildings), new flooring and paint as units have turned and time has allowed. See supplements for owner expense statement, rent roll, proposed business plan, insurance quote, detailed building information and more. Tenants can walk to historic downtown Independence where there are bustling shops, entertainment, farmers market, bars, restaurants and more. No seller financing or assumable debt. Buildings must be sold together.

17. 2024-05-16
    status Pending 1418-char remark

    Show marketing remark (1418 chars)

    MAJOR PRICE REDUCTION. Seller wants to sell! Over an 8% cap rate as-is! Get to 10% cap rate by placing program/voucher tenants in remaining units. This is a package of 13 doors across 2 buildings - 1208 W. White Oak Street (5 plex), 423 N. Spring Street/317 W. Farmer Street (8 plex), Independence, MO (All located less than a mile from each other). Experience exceptional cash flow, low price per unit yet in a suburban setting. Continue to build wealth by cash flowing, increasing rents using program-based tenants (Swope Health, ReStart, etc. .. ), and maintaining property. As Kansas City continues to appreciate so will Independence. Hold for 5-10 years and expand your real estate portfolio. Implement bill back programs and reduce owner-paid utilities with LED lighting, low flow toilets, and more. Rare exceptional in place income and cap rate. Lots of recent CapEx - new windows (all units!) new roof (1 building), partial roof replacement (one building), new exterior paint (both buildings), new flooring and paint as units have turned and time has allowed. See supplements for owner expense statement, rent roll, proposed business plan, insurance quote, detailed building information and more. Tenants can walk to historic downtown Independence where there are bustling shops, entertainment, farmers market, bars, restaurants and more. No seller financing or assumable debt. Buildings must be sold together.

18. 2024-03-25
    price $695,000 1418-char remark

    Show marketing remark (1418 chars)

    MAJOR PRICE REDUCTION. Seller wants to sell! Over an 8% cap rate as-is! Get to 10% cap rate by placing program/voucher tenants in remaining units. This is a package of 13 doors across 2 buildings - 1208 W. White Oak Street (5 plex), 423 N. Spring Street/317 W. Farmer Street (8 plex), Independence, MO (All located less than a mile from each other). Experience exceptional cash flow, low price per unit yet in a suburban setting. Continue to build wealth by cash flowing, increasing rents using program-based tenants (Swope Health, ReStart, etc. .. ), and maintaining property. As Kansas City continues to appreciate so will Independence. Hold for 5-10 years and expand your real estate portfolio. Implement bill back programs and reduce owner-paid utilities with LED lighting, low flow toilets, and more. Rare exceptional in place income and cap rate. Lots of recent CapEx - new windows (all units!) new roof (1 building), partial roof replacement (one building), new exterior paint (both buildings), new flooring and paint as units have turned and time has allowed. See supplements for owner expense statement, rent roll, proposed business plan, insurance quote, detailed building information and more. Tenants can walk to historic downtown Independence where there are bustling shops, entertainment, farmers market, bars, restaurants and more. No seller financing or assumable debt. Buildings must be sold together.

19. 2024-03-06
    listed $725,000 Active 1418-char remark

    Show marketing remark (1418 chars)

    MAJOR PRICE REDUCTION. Seller wants to sell! Over an 8% cap rate as-is! Get to 10% cap rate by placing program/voucher tenants in remaining units. This is a package of 13 doors across 2 buildings - 1208 W. White Oak Street (5 plex), 423 N. Spring Street/317 W. Farmer Street (8 plex), Independence, MO (All located less than a mile from each other). Experience exceptional cash flow, low price per unit yet in a suburban setting. Continue to build wealth by cash flowing, increasing rents using program-based tenants (Swope Health, ReStart, etc. .. ), and maintaining property. As Kansas City continues to appreciate so will Independence. Hold for 5-10 years and expand your real estate portfolio. Implement bill back programs and reduce owner-paid utilities with LED lighting, low flow toilets, and more. Rare exceptional in place income and cap rate. Lots of recent CapEx - new windows (all units!) new roof (1 building), partial roof replacement (one building), new exterior paint (both buildings), new flooring and paint as units have turned and time has allowed. See supplements for owner expense statement, rent roll, proposed business plan, insurance quote, detailed building information and more. Tenants can walk to historic downtown Independence where there are bustling shops, entertainment, farmers market, bars, restaurants and more. No seller financing or assumable debt. Buildings must be sold together.

ⓘ 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $59,628
• − Mortgage interest: −$26,831
• − Property taxes: −$7,185
• − Insurance: −$2,395
• − Repairs & maintenance: −$4,770
• − Management: −$4,770
• − Depreciation: −$13,935
• Taxable loss: −$258
• Est. tax savings @ 24.0%: +$62
• After-tax cash flow: $7,445/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

This multi-family property requires moderate renovations to improve its condition and increase its value. Exterior paint, kitchen appliances, bathroom fixtures, and landscaping need attention.

Repairs flagged

• Major exterior paint — Peeling paint
• Major kitchen appliances — Old and outdated
• Major bathroom fixtures — Old and outdated
• Major landscaping — Overgrown vegetation

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both replace kitchen appliances — Modernizes the space and attracts renters
• Both update bathroom fixtures — Modernizes the space and attracts renters
• Both prune landscaping — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Peeling paint	Major	$15,000–50,000
kitchen appliances · Old and outdated	Major	$15,000–50,000
bathroom fixtures · Old and outdated	Major	$15,000–50,000
landscaping · Overgrown vegetation	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both replace kitchen appliances — Modernizes the space and attracts renters ↑
• Both update bathroom fixtures — Modernizes the space and attracts renters ↑
• Both prune landscaping — Enhances curb appeal and 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): 21,079
• Household income: $48,834
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 972.0

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 White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 11% Two or more races 9% Black 7% Pacific Islander 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 4% Serbian 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% 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: ▼ -56.24%
• Current HPI: 305.796
• Rent YoY: ▲ 3.79%
• 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

-33.9% since first listed

5 events — show timeline

• 2026-02-08 Listed $479,000 Heartland MLS as Distributed by MLS Grid
• 2024-06-07 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2024-05-16 Pending — Heartland MLS as Distributed by MLS Grid
• 2024-03-25 Price Changed $695,000 Heartland MLS as Distributed by MLS Grid
• 2024-03-06 Listed $725,000 Heartland MLS as Distributed by MLS Grid