801 N Osage St · Independence, MO 64050

$215,000

4 bd · 3.0 ba · 1,820 sqft · MultiFamily public records · 72 Days on market

Built 1885 10,429 sqft lot Est $251k · 14% 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 +28.9/30.0
• ARV discount +13.9/15.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Tri-Plex—- Perfect “House Hack” Great investment opportunity in Independence! Unit A = $850.00 (currently rented-- pays Unit C electric and gas) Unit B = $974.00 (previously rented) Unit C (Studio) = $725.00 (potential rent)   Owner pays for water/sewer.   Tenants pay for all other utilities.   This well-maintained triplex features two of the three units currently occupied, offering immediate rental income with additional upside. Ideal for an owner-occupant or investor, with the option to live in one unit while leasing the others or fully rent all three units for increased cash flow. Property is located on a quiet street and includes off-street parking with a newer driveway, a spacious yard, and a basement providing additional storage. Tenants are in place with leases established and a history of on-time payments. Property is professionally managed, offering a turnkey opportunity for the next owner. Convenient location with easy access to local amenities, shopping, and major roadways.

Key facts

• Spacious yard
• Newer driveway
• Basement

Tags

• TRIPLEX
• IMMEDIATE RENTAL INCOME
• OFF-STREET PARKING
• NEWER DRIVEWAY
• SPACIOUS YARD
• BASEMENT

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $732 ($9k/yr) — positive. Per door: $244/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $202k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $2,549/mo this rent would consume 63% 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 $1k of loan paydown is wiped out by about $6k 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 + 3.8% rent growth), your $60k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $202,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% 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 1885 — 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: 1.19% ✓
• Cap rate: 10.38%
• Cash-on-cash: 14.59%
• DSCR: 1.65
• GRM: 7.0

CMA / ARV

• ARV (median comp): $250,729
• List price: $215,000
• Delta: -14.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1200-1202 N Union St	0.52mi	4/2.0	1,824 (+0%)	17mo	$175,000	$96	57
1205 N Cottage St	0.55mi	4/2.0	1,824 (+0%)	18mo	$195,000	$107	54
417 N Main St	0.30mi	3/2.5 (-1)	1,967 (+8%)	15mo	$213,000	$108	53
1100-1102 N Cottage St	0.53mi	4/6.0	2,000 (+10%)	12mo	$215,000	$108	37

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 · 3.79% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.23×
• Total profit: $13,725
• Equity at exit: $32,057

10-year hold

• IRR: 15.8%
• Equity multiple: 2.33×
• Total profit: $80,131
• Equity at exit: $18,589

Cash invested: $60,200 (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 64050

• Home prices YoY: -15.5%
• Rents YoY: 3.8%
• Active inventory: 127
• Price-to-rent: 21.1×

Monthly cashflow live

• Estimated rent: $2,549 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$65 /mo · $778/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $732

Break-even live

Break-even rent $1,623

Max offer price $215,000

Occupancy floor 66%

Sensitivity live

Price	-10% $854	-5% $793	+0% $732	+5% $671	+10% $610
Rent	-10% $530	-5% $631	+0% $732	+5% $832	+10% $933
Rate	-1.0pp $840	-0.5pp $786	base $732	+0.5pp $676	+1.0pp $619

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$2,550
Total (3 units)			$2,549

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
182 Novak St Sugar Creek, MO	3.0	2.0	1350	$1,800	$1.33	19d	1	1.15mi
11323 E Thompson St Sugar Creek, MO	3.0	2.5	1794	$1,800	$1.00	14d	1	1.26mi
11709 E Winner Rd Independence, MO	3.0	1.5	1300	$1,195	$0.92	18d	1	1.37mi
1808 N Kiger Rd Independence, MO	3.0	1.5	1800	$1,550	$0.86	45d	1	1.43mi

Listing history 27 events

1. 2026-06-21
   days on market $215,000 Active 72 DOM
2. 2026-06-18
   days on market $215,000 Active 69 DOM
3. 2026-06-17
   days on market $215,000 Active 68 DOM
4. 2026-06-16
   days on market $215,000 Active 67 DOM
5. 2026-06-15
   days on market $215,000 Active 66 DOM
6. 2026-06-13
   days on market $215,000 Active 64 DOM
7. 2026-06-09
   days on market $215,000 Active 60 DOM
8. 2026-06-08
   days on market $215,000 Active 59 DOM
9. 2026-06-07
   days on market $215,000 Active 58 DOM
10. 2026-06-05
    pricedays on market $215,000 Active 55 DOM
11. 2026-06-03
    days on market $225,000 Active 54 DOM
12. 2026-06-02
    days on market $225,000 Active 53 DOM
13. 2026-06-01
    days on market $225,000 Active 52 DOM
14. 2026-05-31
    days on market $225,000 Active 51 DOM
15. 2026-05-12
    price $225,000 1046-char remark

    Show marketing remark (1046 chars)

    Tri-Plex—- Perfect “House Hack” Great investment opportunity in Independence! Unit A = $850.00 (currently rented-- pays Unit C electric and gas) Unit B = $974.00 (previously rented) Unit C (Studio) = $725.00 (potential rent)   Owner pays for water/sewer.   Tenants pay for all other utilities.   This well-maintained triplex features two of the three units currently occupied, offering immediate rental income with additional upside. Ideal for an owner-occupant or investor, with the option to live in one unit while leasing the others or fully rent all three units for increased cash flow. Property is located on a quiet street and includes off-street parking with a newer driveway, a spacious yard, and a basement providing additional storage. Tenants are in place with leases established and a history of on-time payments. Property is professionally managed, offering a turnkey opportunity for the next owner. Convenient location with easy access to local amenities, shopping, and major roadways.

16. 2026-05-04
    status Active 1046-char remark

    Show marketing remark (1046 chars)

    Tri-Plex—- Perfect “House Hack” Great investment opportunity in Independence! Unit A = $850.00 (currently rented-- pays Unit C electric and gas) Unit B = $974.00 (previously rented) Unit C (Studio) = $725.00 (potential rent)   Owner pays for water/sewer.   Tenants pay for all other utilities.   This well-maintained triplex features two of the three units currently occupied, offering immediate rental income with additional upside. Ideal for an owner-occupant or investor, with the option to live in one unit while leasing the others or fully rent all three units for increased cash flow. Property is located on a quiet street and includes off-street parking with a newer driveway, a spacious yard, and a basement providing additional storage. Tenants are in place with leases established and a history of on-time payments. Property is professionally managed, offering a turnkey opportunity for the next owner. Convenient location with easy access to local amenities, shopping, and major roadways.

17. 2026-04-12
    status Pending 1046-char remark

    Show marketing remark (1046 chars)

    Tri-Plex—- Perfect “House Hack” Great investment opportunity in Independence! Unit A = $850.00 (currently rented-- pays Unit C electric and gas) Unit B = $974.00 (previously rented) Unit C (Studio) = $725.00 (potential rent)   Owner pays for water/sewer.   Tenants pay for all other utilities.   This well-maintained triplex features two of the three units currently occupied, offering immediate rental income with additional upside. Ideal for an owner-occupant or investor, with the option to live in one unit while leasing the others or fully rent all three units for increased cash flow. Property is located on a quiet street and includes off-street parking with a newer driveway, a spacious yard, and a basement providing additional storage. Tenants are in place with leases established and a history of on-time payments. Property is professionally managed, offering a turnkey opportunity for the next owner. Convenient location with easy access to local amenities, shopping, and major roadways.

18. 2026-03-20
    listed $235,000 Active 1046-char remark

    Show marketing remark (1046 chars)

    Tri-Plex—- Perfect “House Hack” Great investment opportunity in Independence! Unit A = $850.00 (currently rented-- pays Unit C electric and gas) Unit B = $974.00 (previously rented) Unit C (Studio) = $725.00 (potential rent)   Owner pays for water/sewer.   Tenants pay for all other utilities.   This well-maintained triplex features two of the three units currently occupied, offering immediate rental income with additional upside. Ideal for an owner-occupant or investor, with the option to live in one unit while leasing the others or fully rent all three units for increased cash flow. Property is located on a quiet street and includes off-street parking with a newer driveway, a spacious yard, and a basement providing additional storage. Tenants are in place with leases established and a history of on-time payments. Property is professionally managed, offering a turnkey opportunity for the next owner. Convenient location with easy access to local amenities, shopping, and major roadways.

19. 2024-03-14
    historical $700
20. 2024-01-24
    price $700
21. 2023-11-23
    listed $775
22. 2017-08-07
    soldstatus
23. 2017-02-25
    historical
24. 2016-08-05
    listed $330,000 Active
25. 2016-01-11
    historical
26. 2016-01-05
    listed $657,250
27. 1986-02-13
    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: $778 · $65/mo
• Projected year-2 tax: $2,086 · $174/mo
• Expected delta: +$1,308/yr (+$109/mo · 168.1%)

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

Taxation est. · year 1

• Rental income: $30,588
• − Mortgage interest: −$12,043
• − Property taxes: −$778
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,447
• − Management: −$2,447
• − Depreciation: −$6,255
• Taxable income: $5,543
• Est. tax owed @ 24.0%: −$1,330
• After-tax cash flow: $7,451/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): 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

-65.8% since first listed

13 events — show timeline

• 2026-05-12 Price Changed $225,000 Heartland MLS as Distributed by MLS Grid
• 2026-05-04 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-04-12 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-03-20 Listed $235,000 Heartland MLS as Distributed by MLS Grid
• 2024-03-14 Rental Removed $700 APPFOLIO
• 2024-01-24 Price Changed $700 APPFOLIO
• 2023-11-23 Listed for Rent $775 APPFOLIO
• 2017-08-07 Sold (Public Records) — Public Records
• 2017-02-25 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2016-08-05 Listed $330,000 Heartland MLS as Distributed by MLS Grid
• 2016-01-11 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2016-01-05 Listed $657,250 Heartland MLS as Distributed by MLS Grid
• 1986-02-13 Sold (Public Records) — Public Records

Property tax history

+1.1%/yr

Latest (2016): $778 · +0.1% YoY. Source: county tax records.