1043 Hasbrook Ave

Kansas City, KS 66105

$124,000D-

2 bd · 1.0 ba · 840 sqft · Built 1925 · SingleFamily · Active · 184 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $859/mo
• Mortgage (P&I): −$650
• Tax + insurance: −$182
• HOA: −$0
• Vac / Maint / Mgmt: −$180
• Net cashflow: $-154/mo
• Annual: $-1,845/yr
• Cap rate: 4.81%
• Cash-on-cash: -5.31%
• DSCR: 0.76
• 1% rule: 0.69%
• Cash to close: $34,720

Investor read

• This is a 2-bed/1.0-bath single-family listed at $124k.
• At list price, monthly cash flow is $-154 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $97k (21.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $86k (30.7% below list).
• It's been on market 184 days — a 12% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (30.7% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($857 loan paydown + $12k appreciation (10.0% local appreciation)).
• Location reads 72/100 on livability (#103 in KS) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• Kansas City (urban): math 8% / reading 15% proficiency, ranked #169 of 169 in KS (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: John Fiske Elem (math 8% / reading 12%, grade F, #660 of 684 statewide, top 98%, 1,908 students, 64% FRL); Rosedale Middle (math 5% / reading 10%, grade F, #207 of 219 statewide, top 95%, 798 students, 56% FRL); J C Harmon High (math 0% / reading 4%, grade F, #326 of 327 statewide, top 100%, 1,330 students, 79% FRL).
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 369 units permitted in Wyandotte County in 2024 (236 in 5+ unit buildings).
• Wyandotte County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 184 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?