1506 S Hedges Ave · Independence, MO 64052

$95,000

3 bd · 1.0 ba · 1,112 sqft · SingleFamily public records · 7 Days on market

Built 1944 0.32 ac lot Est $162k · 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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Livability +4.1/5.0
• Rent growth +3.9/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on market, Cute ranch style home with so much potential on an extra large lot! Just a few minutes walk away from the Englewood Arts District, enjoy shopping and dining with close convenience. This home needs some TLC but seller has replaced some items such as a new water heater and HVAC is only 5 years old. New toilet installed this year as well as newer flooring in the dining and living room. This home is being sold as-is. Inspections are done and can be provided

Key facts

• Fixer-upper
• 0.32 acre lot
• Garage

Tags

• ENGLEWOOD ARTS DISTRICT
• FIXER-UPPER

Property features AI

Finance

• Other: Property listed as inside city limits
• HOA & community: No association fees

Exterior

• Parking: Attached garage with garage door opener (garage faces front) — 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Ranch floor plan; Residential property listed as fixer; Living area approximately 1,112
• Construction: Asbestos construction materials; Composition roof; Has a concrete, unfinished basement; Estimated 76–100 years old
• Exterior features: Patio; Metal fencing; Located within city limits; Paved road access with public maintenance

Interior

• Kitchen: Kitchen with linoleum flooring and laminate counters; Dining area with laminate counters and ceiling fan
• Bedrooms: 3 bedrooms on the first floor
• Flooring: Carpet in bedrooms and some rooms; Laminate counters noted in living and dining areas; Linoleum in kitchen and laundry; Ceramic tile in bathroom
• Bathrooms: 1 full bathroom with ceramic tile and shower-over-tub
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Wood windows; Storm doors; Mud room; Eat-in kitchen / kitchen-dining combo
• Laundry & utility: Laundry room off the kitchen with linoleum flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Cap rate 10.6% 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: Abraham Mallinson Elementary (math 20% / reading 34%, grade F, #850 of 1,115 statewide, top 78%, 272 students, 80% FRL); Van Horn High (math 13% / reading 27%, grade F, #472 of 521 statewide, top 91%, 1,047 students, 72% FRL) — zoned schools average 76% FRL vs 58% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 127 active listings in the ZIP; 29 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 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 + 5.4% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 16y 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 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,000

Questions for the listing agent

1. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.31% ✓
• Cap rate: 10.61%
• Cash-on-cash: 15.41%
• DSCR: 1.69
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $162,352
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1600 S Ralston Ave	0.10mi	3/1.0	1,025 (-8%)	2mo	$150,000	$146	80
10600 E 19th Ter	0.37mi	3/1.0	1,120 (+1%)	2mo	$119,900	$107	80
1515 S Home Ave	0.41mi	3/1.5	1,104 (-1%)	0mo	$150,000	$136	77
10143 E Golf Ave	0.51mi	3/1.0	1,135 (+2%)	0mo	$119,900	$106	73
10531 E 9th St S	0.50mi	3/2.0	1,175 (+6%)	2mo	$180,000	$153	61
1806 S Evanston Ave	0.68mi	3/2.0	1,100 (-1%)	3mo	$175,000	$159	60
823 S Huttig Ave	0.63mi	3/2.0	1,052 (-5%)	2mo	$76,000	$72	56
2005 S Hedges Ave	0.53mi	2/1.0 (-1)	1,220 (+10%)	2mo	$159,000	$130	53
1510 S Vermont Ave	0.52mi	3/2.0	1,237 (+11%)	1mo	$215,000	$174	52
1511 S Evanston St	0.64mi	3/1.0	1,258 (+13%)	3mo	$180,000	$143	45
11214 E 10th St S	0.66mi	3/2.0	1,247 (+12%)	2mo	$210,000	$168	43
809 S Carlisle Ave	0.58mi	2/1.0 (-1)	950 (-15%)	2mo	$180,000	$189	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 · 5.43% rent growth · sell at horizon

5-year hold

• IRR: 8.8%
• Equity multiple: 1.36×
• Total profit: $9,480
• Equity at exit: $14,165

10-year hold

• IRR: 20.0%
• Equity multiple: 2.87×
• Total profit: $49,698
• Equity at exit: $8,214

Cash invested: $26,600 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,240 high
• Mortgage (P&I): −$498
• Tax from tax record: −$100 /mo · $1,200/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $342

Break-even live

Break-even rent $807

Max offer price $95,000

Occupancy floor 67%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1425 S Northern Blvd Independence, MO	3.0	1.5	1275	$1,200	$0.94	7d	1	0.11mi
1712 S Ash Ave Unit 1714-3 Independence, MO	2.0	1.0	700	$895	$1.28	23d	1	0.31mi
1712 S Ash Ave Independence, MO	2.0	1.0	800	$945	$1.18	43d	1	0.31mi
10714 E 19th St S Independence, MO	2.0	1.0	1010	$895	$0.89	3d	1	0.35mi
1109 S Appleton Ave Independence, MO	3.0	2.0	1200	$1,195	$1.00	16d	1	0.38mi
10522 E 10th St S Independence, MO	2.0	1.0	1020	$1,099	$1.08	23d	1	0.43mi
10561 E Lake Dr Independence, MO	2.0	1.0	800	$1,000	$1.25	43d	1	0.44mi
10817 E 19th Ter S Independence, MO	3.0	1.0	1428	$1,801	$1.26	16d	1	0.47mi
10323 E 20th St S Independence, MO	3.0	1.0	936	$1,400	$1.50	43d	1	0.54mi
1810 S Vermont Ave Independence, MO	2.0	1.0	950	$948	$1.00	43d	1	0.60mi
10104 E Golf Ave Independence, MO	3.0	2.0	1205	$1,395	$1.16	14d	1	0.67mi
2256 S Sterling Ave Independence, MO	3.0	1.5	1284	$1,399	$1.09	16d	1	0.74mi
11616 E 16th St S Independence, MO	2.0	1.0	1016	$1,125	$1.11	43d	1	0.76mi
9528 E Winner Rd Independence, MO	1.0–3.0	1.0	730	$1,099	$1.51	43d	1	0.83mi
11709 E Winner Rd Independence, MO	3.0	1.5	1300	$1,195	$0.92	16d	1	0.84mi
2222 S Overton Ave Independence, MO	2.0	1.0	800	$1,025	$1.28	21d	1	0.88mi
1138 S Glenwood Ave Independence, MO	2.0	1.0	1180	$1,095	$0.93	19d	1	0.88mi
1704 S Brookside Ave Independence, MO	4.0	1.0	834	$1,450	$1.74	14d	1	0.91mi
11601 E US Highway 24 Apt DA Independence, MO	2.0	1.0	900	$1,400	$1.56	43d	1	1.05mi
10604 E 26th St S Independence, MO	3.0	1.0	1068	$1,610	$1.51	7d	1	1.08mi
523 S Crysler Ave Unit A Independence, MO	2.0	1.0	900	$650	$0.72	23d	1	1.12mi
600 S Glenwood Ave Unit F Independence, MO	2.0	1.0	750	$995	$1.33	19d	1	1.14mi
2503 S Crescent Ave Independence, MO	2.0	2.0	864	$1,295	$1.50	16d	1	1.15mi
554 S Arlington Ave Independence, MO	4.0	1.0	1161	$1,395	$1.20	14d	1	1.15mi
576 S Oxford Ave Independence, MO	3.0	2.0	1098	$1,400	$1.28	43d	1	1.23mi
9613 E 25th Ter S Independence, MO	3.0	1.0	1214	$1,545	$1.27	23d	1	1.24mi
182 Novak St Sugar Creek, MO	3.0	2.0	1350	$1,800	$1.33	17d	1	1.30mi
724 S Grand Ave Independence, MO	2.0	2.0	1000	$1,149	$1.15	43d	1	1.32mi
11500 E Anderson St Independence, MO	3.0	2.0	1200	$1,599	$1.33	17d	1	1.33mi

Listing history 7 events

1. 2026-06-09
   status $95,000 Pending 7 DOM
2. 2026-06-08
   days on market $95,000 Active 7 DOM
3. 2026-06-07
   days on market $95,000 Active 6 DOM
4. 2026-06-05
   days on market $95,000 Active 3 DOM
5. 2026-06-03
   days on market $95,000 Active 2 DOM
6. 2026-06-02
   remarks 209-char remark
7. 2026-06-02
   listed $95,000 Active 1 DOM

ⓘ 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: $1,200 · $100/mo
• Projected year-2 tax: $1,200 · $100/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 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: $14,878
• − Mortgage interest: −$5,321
• − Property taxes: −$1,200
• − Insurance: −$475
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − Depreciation: −$2,764
• Taxable income: $2,737
• Est. tax owed @ 24.0%: −$657
• After-tax cash flow: $3,443/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: 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

+58.3% since first listed

18 events — show timeline

• 2026-06-01 Listed $95,000 Heartland MLS as Distributed by MLS Grid
• 2020-12-07 Sold (Public Records) — Public Records
• 2020-11-23 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2020-10-27 Pending — Heartland MLS as Distributed by MLS Grid
• 2020-10-21 Relisted — Heartland MLS as Distributed by MLS Grid
• 2020-10-21 Price Changed $79,900 Heartland MLS as Distributed by MLS Grid
• 2020-10-15 Pending — Heartland MLS as Distributed by MLS Grid
• 2020-10-11 Price Changed $83,000 Heartland MLS as Distributed by MLS Grid
• 2020-09-30 Relisted — Heartland MLS as Distributed by MLS Grid
• 2020-09-21 Pending — Heartland MLS as Distributed by MLS Grid
• 2020-09-20 Listed $88,000 Heartland MLS as Distributed by MLS Grid
• 2012-06-14 Sold (Public Records) — Public Records
• 2012-06-14 Sold (Public Records) — Public Records
• 2012-06-06 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2012-04-16 Listed $57,000 Heartland MLS as Distributed by MLS Grid
• 2011-11-05 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2010-11-05 Listed $60,000 Heartland MLS as Distributed by MLS Grid
• 1985-06-01 Sold (Public Records) — Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,200 · +18.0% YoY. Source: county tax records.