16705 E 3rd St N · Independence, MO 64056

$175,000

3 bd · 1.0 ba · 840 sqft · SingleFamily public records · 5 Days on market

Built 1958 0.31 ac lot Est $171k · at est.

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Why this score? — see what drove the D 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 +15.2/30.0
• ARV discount +6.5/15.0
• DSCR +4.7/10.0
• Livability +4.1/5.0
• 1% rule +3.4/10.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold On private office listing agreement

Key facts

• Large yard
• Utility sink
• Breakfast area

Tags

• SPACIOUS LIVING ROOM
• BREAKFAST AREA
• EXTRA RECREATION SPACE
• OVERSIZED BACK PATIO
• LARGE YARD
• UTILITY SINK

Property features AI

Finance

• Other: Living area approximately 1,540 (above and below grade finished areas reported); Lot about 0.31 acres; Inside city limits; Age estimate: 51–75 years
• HOA & community: No association fees

Exterior

• Parking: Attached garage (1 stall)
• Utilities: Public water; Public sewer; High-speed internet available
• Home design: Single-family residential, ranch floor plan; One story (ranch)
• Construction: Wood siding; Composition roof; Has basement
• Exterior features: Partial fencing; Paved road with public maintenance

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 3 bedrooms (all on the first floor)
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Ceiling fan(s); Breakfast area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $6 ($76/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (16.0% below list).
• Recommended offer: $147k (16.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: schools C-, 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.
• Market conditions: Rents rising (+3.8%/yr); 106 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y 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: flood insurance adds $56/mo; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,059 (16.0% below list)

Questions for the listing agent

1. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.84% ✗
• Cap rate: 6.72%
• Cash-on-cash: 1.52%
• DSCR: 1.07
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $171,360
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 N Davidson Ave	0.24mi	3/1.0	840 (0%)	5mo	$175,000	$208	85
16109 E Cogan Ln	0.48mi	2/1.0 (-1)	864 (+3%)	19mo	$165,000	$191	52
16001 E 2nd St	0.57mi	2/1.0 (-1)	744 (-11%)	11mo	$152,000	$204	40
15915 E Cogan Ln	0.59mi	2/1.0 (-1)	780 (-7%)	22mo	$110,000	$141	38

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 · 3.76% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.45×
• Total profit: $-26,831
• Equity at exit: $26,093

10-year hold

• IRR: -5.5%
• Equity multiple: 0.63×
• Total profit: $-18,167
• Equity at exit: $15,131

Cash invested: $49,000 (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 64056

• Rents YoY: 3.8%
• Active inventory: 106
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,471 high
• Mortgage (P&I): −$918
• Tax from tax record: −$109 /mo · $1,311/yr
• Insurance: −$73
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $6

Break-even live

Break-even rent $1,463

Max offer price $175,000

Occupancy floor 95%

Sensitivity live

Price	-10% $105	-5% $56	+0% $6	+5% $-43	+10% $-93
Rent	-10% $-110	-5% $-52	+0% $6	+5% $64	+10% $123
Rate	-1.0pp $94	-0.5pp $51	base $6	+0.5pp $-39	+1.0pp $-85

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16005 E Cogan Ln Independence, MO	4.0	2.0	1080	$1,851	$1.71	2d	1	0.53mi
17013 E US Highway 24 Independence, MO	1.0–2.0	1.0	686	$1,050	$1.53	5d	4	0.58mi
17013 E US Highway 24 Apt 9 Independence, MO	2.0	1.0	780	$1,050	$1.35	24d	1	0.58mi
17013 E US Highway 24 Independence, MO	1.0–2.0	1.0	687	$1,050	$1.53	11d	4	0.58mi
16012 E T C Lea Rd Unit C Independence, MO	2.0	1.0	800	$795	$0.99	24d	1	0.92mi
1314 E Frederick St Independence, MO	2.0	1.0	800	$999	$1.25	44d	1	1.34mi
414 Hillside Dr Independence, MO	2.0	1.0–2.0	627	$1,199	$1.91	44d	3	1.41mi
18717 E Blackhawk Trl Independence, MO	2.0	1.0	780	$1,100	$1.41	44d	1	1.48mi
1043 Arrowhead Rdg Independence, MO	2.0	1.0	800	$1,095	$1.37	2d	1	1.50mi

Listing history 9 events

1. 2026-05-22
   listed $175,000 Active
2. 2022-05-27
   soldstatus Closed 40-char remark

   Show marketing remark (40 chars)

   Sold On private office listing agreement

3. 2022-05-27
   soldstatus

   Show marketing remark (40 chars)

   Sold On private office listing agreement

4. 2022-05-26
   historical 40-char remark

   Show marketing remark (40 chars)

   Sold On private office listing agreement

5. 2022-05-01
   listed $140,000 40-char remark

   Show marketing remark (40 chars)

   Sold On private office listing agreement

6. 2005-05-04
   soldstatus
7. 2005-04-29
   soldstatus 246-char remark

   Show marketing remark (246 chars)

   Nice ranch with a finished walk-out basement. Vinyl siding , large living-dining area. This home is in excellent shape. Seller has lowered price $10,000 and is selling as-is. Home in good shape -just does not want to do any repairs at this price.

8. 2005-01-26
   listed $89,900 246-char remark

   Show marketing remark (246 chars)

   Nice ranch with a finished walk-out basement. Vinyl siding , large living-dining area. This home is in excellent shape. Seller has lowered price $10,000 and is selling as-is. Home in good shape -just does not want to do any repairs at this price.

9. 1982-09-01
   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: $1,311 · $109/mo
• Projected year-2 tax: $1,698 · $141/mo
• Expected delta: +$387/yr (+$32/mo · 29.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,647
• − Mortgage interest: −$9,803
• − Property taxes: −$1,311
• − Insurance: −$1,542
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − Depreciation: −$5,091
• Taxable loss: −$2,922
• Est. tax savings @ 24.0%: +$701
• After-tax cash flow: $778/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): 17,395
• Household income: $67,685
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 747.0

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 (69%)
• Race & ethnicity: White 69% Black 14% Hispanic / Latino 8% Two or more races 7% Pacific Islander 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 9% Lithuanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 4%

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: ▼ -163.60%
• Current HPI: 286.349
• Rent YoY: ▲ 3.76%
• 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

+94.7% since first listed

9 events — show timeline

• 2026-05-22 Listed $175,000 Heartland MLS as Distributed by MLS Grid
• 2022-05-27 Sold (Public Records) — Public Records
• 2022-05-27 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2022-05-26 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2022-05-01 Listed $140,000 Heartland MLS as Distributed by MLS Grid
• 2005-05-04 Sold (Public Records) — Public Records
• 2005-04-29 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2005-01-26 Listed $89,900 Heartland MLS as Distributed by MLS Grid
• 1982-09-01 Sold (Public Records) — Public Records

Property tax history

+10.6%/yr

Latest (2025): $1,311 · -22.7% YoY. Source: county tax records.