808 N Emery St · Independence, MO 64050

$295,000

4 bd · 3.0 ba · 1,750 sqft · MultiFamily public records · 43 Days on market

Built 1949 10,364 sqft lot Est $295k · at est.

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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
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• 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: 4 units. confirmed

Listing remarks MLS

AVAILABLE as a package with two other multi family properties for $449K! (MLS #2448374 & #2448322) The property consists of 4 units and the potential for a 5th. 3 units in one building consisting of two 2B/1B and one 1B/1 . Also includes a stand alone 2B/1B home. A 5th unit could be made in the building and is currently used for storage. Currently bringing in $1846/mo at 50% occupancy. Carport included with the single family home. Needs some love, but potential for $3500+ in monthly income. Seller has never been in or occupied the properties and has limited knowledge.

Key facts

• Off street parking
• Well maintained
• Rental income

Tags

• WELL MAINTAINED
• OFF STREET PARKING
• RENTAL INCOME

Property features AI

Finance

• Other: Property is inside city limits; Maintenance provided
• Financial info: Gross income reported: $41,268; Operating expenses include utilities, insurance, real estate tax, and refuse collection
• HOA & community: No association fees

Exterior

• Parking: Space for 5 vehicles total; Carport and off-street parking
• Utilities: Public water; Public sewer; Cable available and high-speed internet available; Other utilities listed
• Home design: Residential income property (quadruplex); 2-story building; Zoned R-6
• Construction: Composition roof; Construction listed as Other; Estimated age: 76–100 years
• Exterior features: Lot is approximately 10,364 square feet; Public road maintenance

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Contains a mix of 1-bedroom, 2-bedroom and efficiency units (total 4 units)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Forced air heating; Electric cooling with window units
• Interior features: Balcony
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 2×1bd/1ba units multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $280/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $295k).
• Recommended offer: $286k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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: 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); 125 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $3,631/mo this rent would consume 89% 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 $2k of loan paydown is wiped out by about $9k 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 $83k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y 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 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $286,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% 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 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.23% ✓
• Cap rate: 10.85%
• Cash-on-cash: 16.28%
• DSCR: 1.72
• GRM: 6.8

CMA / ARV

• ARV (median comp): $295,000
• List price: $295,000
• Delta: —
• Verdict: FAIR
• Comps: 13 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
417 N Main St	0.53mi	3/2.5 (-1)	1,967 (+12%)	15mo	$213,000	$108	35

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: 8.1%
• Equity multiple: 1.32×
• Total profit: $26,341
• Equity at exit: $43,985

10-year hold

• IRR: 17.9%
• Equity multiple: 2.53×
• Total profit: $126,449
• Equity at exit: $25,506

Cash invested: $82,600 (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 64050

• Home prices YoY: -15.5%
• Rents YoY: 3.8%
• Active inventory: 125
• Price-to-rent: 25.4×

Monthly cashflow live

• Estimated rent: $3,631 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$78 /mo · $938/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$763
• Net cashflow: $1,120

Break-even live

Break-even rent $2,213

Max offer price $295,000

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,934
▸ 2× units	1	1	$1,696
Total (4 units)			$3,631

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1808 N Kiger Rd Independence, MO	3.0	1.5	1800	$1,550	$0.86	44d	1	0.93mi

Listing history 24 events

1. 2026-06-13
   statusdays on market $295,000 Pending 43 DOM
2. 2026-06-09
   days on market $295,000 Active 41 DOM
3. 2026-06-08
   days on market $295,000 Active 40 DOM
4. 2026-06-07
   days on market $295,000 Active 39 DOM
5. 2026-06-05
   days on market $295,000 Active 36 DOM
6. 2026-06-03
   days on market $295,000 Active 35 DOM
7. 2026-06-02
   days on market $295,000 Active 34 DOM
8. 2026-06-01
   days on market $295,000 Active 33 DOM
9. 2026-05-31
   days on market $295,000 Active 32 DOM
10. 2026-05-12
    historical Active Under Contract 816-char remark
11. 2026-04-29
    listed $295,000 Active 816-char remark
12. 2023-08-17
    soldstatus Closed 580-char remark

    Show marketing remark (580 chars)

    AVAILABLE as a package with two other multi family properties for $449K! (MLS #2448374 & #2448322) The property consists of 4 units and the potential for a 5th. 3 units in one building consisting of two 2B/1B and one 1B/1 . Also includes a stand alone 2B/1B home. A 5th unit could be made in the building and is currently used for storage. Currently bringing in $1846/mo at 50% occupancy. Carport included with the single family home. Needs some love, but potential for $3500+ in monthly income. Seller has never been in or occupied the properties and has limited knowledge.

13. 2023-08-07
    status Pending 580-char remark

    Show marketing remark (580 chars)

    AVAILABLE as a package with two other multi family properties for $449K! (MLS #2448374 & #2448322) The property consists of 4 units and the potential for a 5th. 3 units in one building consisting of two 2B/1B and one 1B/1 . Also includes a stand alone 2B/1B home. A 5th unit could be made in the building and is currently used for storage. Currently bringing in $1846/mo at 50% occupancy. Carport included with the single family home. Needs some love, but potential for $3500+ in monthly income. Seller has never been in or occupied the properties and has limited knowledge.

14. 2023-08-03
    listed $199,900 Active 580-char remark

    Show marketing remark (580 chars)

    AVAILABLE as a package with two other multi family properties for $449K! (MLS #2448374 & #2448322) The property consists of 4 units and the potential for a 5th. 3 units in one building consisting of two 2B/1B and one 1B/1 . Also includes a stand alone 2B/1B home. A 5th unit could be made in the building and is currently used for storage. Currently bringing in $1846/mo at 50% occupancy. Carport included with the single family home. Needs some love, but potential for $3500+ in monthly income. Seller has never been in or occupied the properties and has limited knowledge.

15. 2020-12-21
    soldstatus
16. 2020-12-14
    soldstatus Closed

    Show marketing remark (489 chars)

    This property actually has 4 units but could be 5. Lots of options with this property and are easy to rent. Single family home has an open floor plan with lots of cabinets and a tenant who is great! The upstairs Studio apartment is rented as well. The other units one is ready to go, and the other 2 units could easily be. You could live in one and rent all the others. Good parking, convenient location, and positive cash flow!! These units are across from William Chrisman high school.

17. 2020-11-03
    status Pending

    Show marketing remark (489 chars)

    This property actually has 4 units but could be 5. Lots of options with this property and are easy to rent. Single family home has an open floor plan with lots of cabinets and a tenant who is great! The upstairs Studio apartment is rented as well. The other units one is ready to go, and the other 2 units could easily be. You could live in one and rent all the others. Good parking, convenient location, and positive cash flow!! These units are across from William Chrisman high school.

18. 2020-10-01
    listed $160,000 Active

    Show marketing remark (489 chars)

    This property actually has 4 units but could be 5. Lots of options with this property and are easy to rent. Single family home has an open floor plan with lots of cabinets and a tenant who is great! The upstairs Studio apartment is rented as well. The other units one is ready to go, and the other 2 units could easily be. You could live in one and rent all the others. Good parking, convenient location, and positive cash flow!! These units are across from William Chrisman high school.

19. 2019-02-01
    historical
20. 2018-10-01
    price $150,000
21. 2018-08-22
    listed $160,000 Active
22. 2007-07-10
    soldstatus
23. 2007-06-27
    soldstatus
24. 2007-01-17
    listed $89,900

ⓘ 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: $938 · $78/mo
• Projected year-2 tax: $2,862 · $238/mo
• Expected delta: +$1,924/yr (+$160/mo · 205.1%)

ⓘ 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 · 16 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: $43,572
• − Mortgage interest: −$16,525
• − Property taxes: −$938
• − Insurance: −$1,475
• − Repairs & maintenance: −$3,486
• − Management: −$3,486
• − Depreciation: −$8,582
• Taxable income: $9,081
• Est. tax owed @ 24.0%: −$2,179
• After-tax cash flow: $11,265/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

+228.1% since first listed

17 events — show timeline

• 2026-06-11 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-27 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-05-12 Contingent — Heartland MLS as Distributed by MLS Grid
• 2026-04-29 Listed $295,000 Heartland MLS as Distributed by MLS Grid
• 2023-08-17 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2023-08-07 Pending — Heartland MLS as Distributed by MLS Grid
• 2023-08-03 Listed $199,900 Heartland MLS as Distributed by MLS Grid
• 2020-12-21 Sold (Public Records) — Public Records
• 2020-12-14 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2020-11-03 Pending — Heartland MLS as Distributed by MLS Grid
• 2020-10-01 Listed $160,000 Heartland MLS as Distributed by MLS Grid
• 2019-02-01 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2018-10-01 Price Changed $150,000 Heartland MLS as Distributed by MLS Grid
• 2018-08-22 Listed $160,000 Heartland MLS as Distributed by MLS Grid
• 2007-07-10 Sold (Public Records) — Public Records
• 2007-06-27 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2007-01-17 Listed $89,900 Heartland MLS as Distributed by MLS Grid

Property tax history

+2.1%/yr

Latest (2015): $938 · +2.1% YoY. Source: county tax records.