3613 Smart Ave · Kansas City, MO 64124

$115,000

4 bd · 1.5 ba · 1,248 sqft · SingleFamily public records · 76 Days on market

Built 1905 9,596 sqft lot $92/sqft · 41% below area Est $195k · 41% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors! Great location, close to stores and highway and minutes from downtown. This spacious property will be a good project. New electrical, plumbing, and HVAC. Big yard with peach trees and shade trees perfect to enjoy this summer.

Key facts

• 9,596 sq ft lot
• Built 1905
• Listed 75 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $483 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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 (+2.2%/yr); 52 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• This rent runs 40% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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 + 2.2% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($108k) 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 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.34% ✓
• Cap rate: 11.33%
• Cash-on-cash: 17.99%
• DSCR: 1.80
• GRM: 6.2

CMA / ARV

• ARV (median comp): $195,273
• List price: $115,000
• Delta: -41.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3618 Anderson Ave	0.15mi	3/1.0 (-1)	1,219 (-2%)	8mo	$99,000	$81	76
410 Kensington Ave	0.40mi	4/2.0	1,240 (-1%)	4mo	$159,000	$128	74
3830 Roberts St	0.20mi	4/2.0	1,320 (+6%)	6mo	$70,000	$53	74
3621 Lexington St	0.07mi	3/1.5 (-1)	1,395 (+12%)	6mo	$165,000	$118	68
3608 Lexington Ave	0.09mi	3/1.0 (-1)	1,365 (+9%)	7mo	$189,000	$138	67
3906 Windsor Ave	0.37mi	3/2.0 (-1)	1,194 (-4%)	3mo	$129,900	$109	66
4024 Morrell St	0.31mi	3/1.0 (-1)	1,156 (-7%)	9mo	$97,000	$84	59
110 N Monroe Ave	0.29mi	3/1.0 (-1)	1,112 (-11%)	7mo	$85,000	$76	56
402 Kensington Ave	0.40mi	3/2.0 (-1)	1,376 (+10%)	3mo	$75,000	$55	55
421 Prospect Ave	0.65mi	3/2.0 (-1)	1,215 (-3%)	5mo	$199,000	$164	54
815 Elmwood Ave	0.74mi	3/1.5 (-1)	1,302 (+4%)	5mo	$74,900	$58	49
2515 Lexington Ave	0.72mi	3/1.0 (-1)	1,122 (-10%)	1mo	$279,000	$249	42

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 · 2.2% rent growth · sell at horizon

5-year hold

• IRR: 8.7%
• Equity multiple: 1.34×
• Total profit: $10,865
• Equity at exit: $17,147

10-year hold

• IRR: 17.2%
• Equity multiple: 2.37×
• Total profit: $44,023
• Equity at exit: $9,943

Cash invested: $32,200 (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 64124

• Home prices YoY: -26.0%
• Rents YoY: 2.2%
• Active inventory: 52
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,544 high
• Mortgage (P&I): −$603
• Tax from tax record: −$86 /mo · $1,033/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $483

Break-even live

Break-even rent $933

Max offer price $115,000

Occupancy floor 64%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3523 Saint John Ave Kansas City, MO	3.0	1.0	1500	$995	$0.66	23d	1	0.28mi
311 Bellefontaine Ave Kansas City, MO	3.0	2.0	1360	$2,200	$1.62	43d	1	0.48mi
218 N Elmwood Ave Kansas City, MO	4.0	2.0	1184	$1,500	$1.27	43d	1	0.65mi
916 Bellefontaine Ave Kansas City, MO	3.0	1.5	1399	$1,650	$1.18	16d	1	0.67mi
815 Elmwood Ave Kansas City, MO	3.0	1.5	1302	$1,600	$1.23	14d	1	0.72mi
1233 Benton Blvd Kansas City, MO	4.0	2.5	1500	$2,500	$1.67	43d	1	0.87mi
105 Brooklyn Ave Kansas City, MO	3.0	1.5	1152	$1,250	$1.09	4d	1	0.98mi
5213 Wilburn Ct Kansas City, MO	3.0	1.0	1274	$1,375	$1.08	21d	1	1.05mi
347 Maple Blvd Kansas City, MO	3.0	1.5	1246	$1,350	$1.08	23d	1	1.09mi
135 Lawndale Ave Kansas City, MO	3.0	2.0	920	$1,500	$1.63	7d	1	1.24mi
1805 Jackson Ave Kansas City, MO	4.0	2.0	1250	$1,250	$1.00	43d	1	1.35mi
1905 Kensington Ave Kansas City, MO	3.0	2.0	1285	$1,325	$1.03	23d	1	1.47mi
216 N Wheeling Ave Kansas City, MO	3.0	2.0	1474	$1,495	$1.01	16d	1	1.50mi
216 N Wheeling Ave Kansas City, MO	3.0	2.0	1474	$1,495	$1.01	19d	1	1.50mi

Listing history 5 events

1. 2026-03-12
   listed $115,000 Active 248-char remark

   Show marketing remark (248 chars)

   Calling all investors! Great location, close to stores and highway and minutes from downtown. This spacious property will be a good project. New electrical, plumbing, and HVAC. Big yard with peach trees and shade trees perfect to enjoy this summer.

2. 2026-03-12
   historical $115,000 248-char remark

   Show marketing remark (248 chars)

   Calling all investors! Great location, close to stores and highway and minutes from downtown. This spacious property will be a good project. New electrical, plumbing, and HVAC. Big yard with peach trees and shade trees perfect to enjoy this summer.

3. 2024-10-10
   historical
4. 2024-06-06
   listed $115,000 Active
5. 1986-07-09
   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: $1,033 · $86/mo
• Projected year-2 tax: $1,116 · $93/mo
• Expected delta: +$83/yr (+$7/mo · 8.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 16 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: $18,528
• − Mortgage interest: −$6,442
• − Property taxes: −$1,033
• − Insurance: −$575
• − Repairs & maintenance: −$1,482
• − Management: −$1,482
• − Depreciation: −$3,345
• Taxable income: $4,169
• Est. tax owed @ 24.0%: −$1,001
• After-tax cash flow: $4,792/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): 10,925
• Household income: $46,241
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 541.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 43% White 30% Black 20% Two or more races 10% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 30% Cuban 1%
• Common ancestry: Italian 2% Hispanic 1% Serbian 1%
• Foreign-born: 32% · Canada, Vietnam
• Languages at home: 52% English-only · Spanish 35% Vietnamese 2% Arabic 2%

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: ▼ -125.95%
• Current HPI: 358.4244
• Rent YoY: ▲ 2.20%
• 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

+0.0% since first listed

5 events — show timeline

• 2026-03-12 Listed $115,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-12 Coming Soon $115,000 Heartland MLS as Distributed by MLS Grid
• 2024-10-10 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-06-06 Listed $115,000 Heartland MLS as Distributed by MLS Grid
• 1986-07-09 Sold (Public Records) — Public Records

Property tax history

+7.0%/yr

Latest (2025): $1,033 · -8.1% YoY. Source: county tax records.