3938 Myrtle Ave · Kansas City, MO 64130

$65,000

2 bd · 1.0 ba · 805 sqft · SingleFamily public records · 1 Days on market

Built 1925 4,697 sqft lot Est $77k · 16% 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 +14.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice investment property. Current tenant on month to month lease at $500 per month. Can rent around $750 per month. Selling AS-IS, no sign in the yard. Do not disturb tenant. Property can be sold alone or as package with MLS #2211720 and/or #2211613

Key facts

• 4,697 sq ft lot
• Garage
• Built 1925

Property features AI

Finance

• Other: Living area approximately 805 (source: public records)
• HOA & community: No association fees

Exterior

• Parking: Rear-facing garage with direct access; 1-car garage; Basement access to parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Bungalow floor plan; One-story (living spaces on first floor)
• Construction: Frame construction; Composition roof; Home is 101 years or older
• Exterior features: Metal fencing; City lot within city limits

Interior

• Kitchen: Breakfast room adjacent to kitchen; Vinyl in kitchen and breakfast room; Free-standing electric oven
• Bedrooms: 2 bedrooms (both on the first floor)
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom (on the first floor)
• Heating & cooling: Natural gas heating; No central air
• Interior features: Free-standing electric oven; Formal dining area; Full basement
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $588 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 17.2% 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 fast (+4.4%/yr); 187 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• This rent runs 35% of the median local income ($42k/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 $449 of loan paydown is wiped out by about $2k 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 + 4.4% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y 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 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1925 — 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: 1.91% ✓
• Cap rate: 17.16%
• Cash-on-cash: 38.79%
• DSCR: 2.73
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $77,280
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3938 Myrtle Ave	0.00mi	2/1.0	805 (0%)	0mo	$65,000	$81	100
3942 Myrtle Ave	0.01mi	2/1.0	890 (+11%)	3mo	$85,000	$96	80
4208 Spruce Ave	0.34mi	1/1.0 (-1)	812 (+1%)	4mo	$48,000	$59	74
4338 Myrtle Ave	0.50mi	2/1.0	780 (-3%)	3mo	$125,000	$160	69
4135 Jackson Ave	0.27mi	2/1.0	720 (-11%)	2mo	$68,900	$96	68
3630 Jackson Ave	0.42mi	2/1.0	888 (+10%)	4mo	$59,000	$66	60
3601 Norton Ave	0.47mi	2/1.0	725 (-10%)	3mo	$40,000	$55	58
4132 Spruce Ave	0.31mi	3/1.0 (+1)	912 (+13%)	2mo	$99,995	$110	57
3640 Cleveland Ave	0.40mi	2/2.0	900 (+12%)	4mo	$105,000	$117	54
4504 E 43rd St	0.51mi	2/1.0	907 (+13%)	2mo	$140,000	$154	54
4442 Myrtle Ave	0.63mi	2/1.0	720 (-11%)	6mo	$94,900	$132	48
4410 Myrtle Ave	0.57mi	3/1.0 (+1)	912 (+13%)	4mo	$80,000	$88	43

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 · 4.42% rent growth · sell at horizon

5-year hold

• IRR: 36.5%
• Equity multiple: 2.58×
• Total profit: $28,725
• Equity at exit: $9,692

10-year hold

• IRR: 43.8%
• Equity multiple: 5.44×
• Total profit: $80,802
• Equity at exit: $5,620

Cash invested: $18,200 (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 64130

• Home prices YoY: -21.5%
• Rents YoY: 4.4%
• Active inventory: 187
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,242 high
• Mortgage (P&I): −$341
• Tax from tax record: −$25 /mo · $295/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $588

Break-even live

Break-even rent $497

Max offer price $65,000

Occupancy floor 48%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4028 Myrtle Ave Kansas City, MO	3.0	1.0	1100	$1,490	$1.35	44d	1	0.07mi
4005 Bales Ave Kansas City, MO	2.0	1.0	792	$1,050	$1.33	44d	1	0.27mi
4216 Cleveland Ave Kansas City, MO	2.0	1.0	780	$1,125	$1.44	16d	1	0.30mi
3736 Cypress Ave Kansas City, MO	3.0	1.0	1100	$1,200	$1.09	7d	1	0.43mi
4144 College Ave Kansas City, MO	3.0	1.0	1108	$1,095	$0.99	24d	1	0.48mi
4309 College Ave Kansas City, MO	3.0	2.0	1040	$1,550	$1.49	16d	1	0.56mi
4902 E 39th St Kansas City, MO	2.0	1.0	820	$1,300	$1.59	16d	1	0.63mi
3437 Jackson Ave Kansas City, MO	2.0	1.0	700	$1,150	$1.64	16d	1	0.68mi
4427 Agnes Ave Kansas City, MO	3.0	1.0	1100	$1,350	$1.23	16d	1	0.81mi
3310 College Ave Kansas City, MO	3.0	1.0	874	$995	$1.14	44d	1	0.95mi
3841 Olive St Kansas City, MO	2.0	1.0	792	$985	$1.24	14d	1	0.96mi
4534 S Benton Ave Kansas City, MO	2.0	1.0	912	$1,045	$1.15	16d	1	0.98mi
3710 Wabash Ave Unit 2S Kansas City, MO	2.0	1.0	875	$850	$0.97	24d	1	0.99mi
5601 E 39th Ter Kansas City, MO	3.0	1.0	816	$1,225	$1.50	3d	1	0.99mi
3911 Oakley Ave Kansas City, MO	2.0	1.0	816	$1,195	$1.46	12d	1	1.00mi
3330 Agnes Ave Kansas City, MO	3.0	1.0	1000	$1,410	$1.41	44d	1	1.01mi
2305 E 41st St Kansas City, MO	2.0	1.0	750	$1,000	$1.33	7d	1	1.02mi
5636 E 40th St Kansas City, MO	3.0	1.0	816	$1,225	$1.50	3d	1	1.07mi
5700 E 40th St Kansas City, MO	3.0	1.0	816	$1,245	$1.53	21d	1	1.08mi
5707 E 40th St Kansas City, MO	3.0	1.0	816	$1,295	$1.59	12d	1	1.11mi
3118 Chelsea Ave Kansas City, MO	2.0	1.0	864	$980	$1.13	44d	1	1.18mi
3032 Elmwood Ave Kansas City, MO	3.0	1.0	1027	$1,275	$1.24	7d	1	1.23mi
3243 Denver Dr Kansas City, MO	1.0–3.0	1.0	862	$1,088	$1.26	44d	1	1.25mi
3949 Doctor Martin Luther King Junior Blvd Kansas City, MO	1.0–2.0	1.0–2.0	945	$1,565	$1.66	2d	3	1.27mi
4911 S Benton Ave Kansas City, MO	2.0	1.0	1000	$1,100	$1.10	17d	1	1.32mi
4917 S Benton Ave Kansas City, MO	2.0	1.0	1000	$1,100	$1.10	24d	1	1.33mi
3233 Park Ave Unit 2 Kansas City, MO	2.0	1.0	950	$1,000	$1.05	24d	1	1.36mi
3233 Park Ave Unit 1 Kansas City, MO	2.0	1.0	950	$1,075	$1.13	44d	1	1.36mi
5013 S Benton Ave Kansas City, MO	3.0	1.0	978	$1,225	$1.25	24d	1	1.43mi
5108 E 30th St Kansas City, MO	3.0	1.0	960	$1,400	$1.46	3d	1	1.46mi
3017 E 51st St Kansas City, MO	2.0	1.0	621	$1,303	$2.10	7d	1	1.48mi

Listing history 11 events

1. 2026-06-02
   listed $65,000 Active
2. 2026-05-27
   status Pending
3. 2023-07-03
   historical
4. 2021-09-27
   historical
5. 2021-08-23
   price $68,000
6. 2021-07-20
   listed $70,000 Active
7. 2020-07-07
   soldstatus
8. 2020-07-06
   soldstatus Sold 249-char remark

   Show marketing remark (249 chars)

   Nice investment property. Current tenant on month to month lease at $500 per month. Can rent around $750 per month. Selling AS-IS, no sign in the yard. Do not disturb tenant. Property can be sold alone or as package with MLS #2211720 and/or #2211613

9. 2020-04-02
   status Pending 249-char remark

   Show marketing remark (249 chars)

   Nice investment property. Current tenant on month to month lease at $500 per month. Can rent around $750 per month. Selling AS-IS, no sign in the yard. Do not disturb tenant. Property can be sold alone or as package with MLS #2211720 and/or #2211613

10. 2020-03-11
    listed $35,000 Active 249-char remark

    Show marketing remark (249 chars)

    Nice investment property. Current tenant on month to month lease at $500 per month. Can rent around $750 per month. Selling AS-IS, no sign in the yard. Do not disturb tenant. Property can be sold alone or as package with MLS #2211720 and/or #2211613

11. 1971-03-01
    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: $295 · $25/mo
• Projected year-2 tax: $630 · $53/mo
• Expected delta: +$336/yr (+$28/mo · 113.7%)

ⓘ 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 ≥107°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: $14,900
• − Mortgage interest: −$3,641
• − Property taxes: −$295
• − Insurance: −$325
• − Repairs & maintenance: −$1,192
• − Management: −$1,192
• − Depreciation: −$1,891
• Taxable income: $6,364
• Est. tax owed @ 24.0%: −$1,527
• After-tax cash flow: $5,533/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): 19,644
• Household income: $42,221
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1132.0

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 Black (80%)
• Race & ethnicity: Black 80% White 9% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 1% Swedish 0%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -73.32%
• Current HPI: 267.491
• Rent YoY: ▲ 4.42%
• 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

+85.7% since first listed

11 events — show timeline

• 2026-06-02 Listed $65,000 Heartland MLS as Distributed by MLS Grid
• 2026-05-27 Pending — Heartland MLS as Distributed by MLS Grid
• 2023-07-03 Rental Removed — APPFOLIO
• 2021-09-27 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2021-08-23 Price Changed $68,000 Heartland MLS as Distributed by MLS Grid
• 2021-07-20 Listed $70,000 Heartland MLS as Distributed by MLS Grid
• 2020-07-07 Sold (Public Records) — Public Records
• 2020-07-06 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2020-04-02 Pending — Heartland MLS as Distributed by MLS Grid
• 2020-03-11 Listed $35,000 Heartland MLS as Distributed by MLS Grid
• 1971-03-01 Sold (Public Records) — Public Records

Property tax history

+3.0%/yr

Latest (2025): $295 · -38.9% YoY. Source: county tax records.