603 E Myrtle St · Independence, MO 64055

$130,000

2 bd · 1.0 ba · 1,364 sqft · SingleFamily public records · 47 Days on market

Built 1945 6,835 sqft lot Est $179k · 27% under

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Why this score? — see what drove the C+ 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 +23.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.3/10.0
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Clean and Cute - Super Cozy 2 Bd, 1 1/2 bath boasting a nice sized living room with connecting formal dining room offering a great space for entertaining. Kitchen features clean countertops, cabinets and a gas range. Off the kitchen you will find a family room for cozy nights next to the fire. Nice-sized bedrooms, awesome workshop off garage along with a laundry room are an even bigger bonus. Fenced yard features porch area in front and shed in back. Come take a look! This one won't last long!

Key facts

• 6,835 sq ft lot
• Garage
• Built 1945

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: Sycamore Hills Elem. (math 42% / reading 47%, grade F, #413 of 1,115 statewide, top 42%, 543 students, 55% FRL); Truman High (math 18% / reading 34%, grade F, #430 of 521 statewide, top 83%, 1,662 students, 52% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents rising fast (+5.1%/yr); 200 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $899 of loan paydown is wiped out by about $4k 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 + 5.1% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 28y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.03% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.67%
• DSCR: 1.34
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $178,684
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
603 E Myrtle St	0.00mi	2/1.5	1,364 (0%)	1mo	$130,000	$95	97
1347 S Hocker Ave	0.08mi	3/1.5 (+1)	1,324 (-3%)	1mo	$125,000	$94	84
1120 S Leslie St	0.25mi	3/2.0 (+1)	1,372 (+1%)	3mo	$184,900	$135	76
660 E Red Rd	0.50mi	3/1.0 (+1)	1,380 (+1%)	2mo	$239,900	$174	68
1312 S Pearl St	0.20mi	2/2.0	1,220 (-11%)	2mo	$159,500	$131	67
1340 S Emery Ave	0.05mi	3/1.0 (+1)	1,160 (-15%)	2mo	$95,000	$82	66
804 E Gudgell Ave	0.35mi	3/1.0 (+1)	1,262 (-8%)	5mo	$119,900	$95	62
930 S Leslie St	0.38mi	3/2.5 (+1)	1,276 (-6%)	2mo	$200,000	$157	59
916 S Hocker Ave	0.43mi	3/1.0 (+1)	1,260 (-8%)	6mo	$25,000	$20	57
1040 Stone St	0.50mi	2/2.0	1,176 (-14%)	1mo	$209,900	$178	49
1211 S Osage St	0.62mi	3/2.0 (+1)	1,236 (-9%)	2mo	$163,000	$132	45
926 S Washington St	0.66mi	3/1.0 (+1)	1,558 (+14%)	5mo	$168,000	$108	36

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 · 5.09% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-3,398
• Equity at exit: $19,383

10-year hold

• IRR: 9.3%
• Equity multiple: 1.78×
• Total profit: $28,321
• Equity at exit: $11,240

Cash invested: $36,400 (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 64055

• Rents YoY: 5.1%
• Active inventory: 200
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,338 high
• Mortgage (P&I): −$682
• Tax from tax record: −$88 /mo · $1,059/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $233

Break-even live

Break-even rent $1,043

Max offer price $130,000

Occupancy floor 78%

Sensitivity live

Price	-10% $306	-5% $269	+0% $233	+5% $196	+10% $159
Rent	-10% $127	-5% $180	+0% $233	+5% $286	+10% $338
Rate	-1.0pp $298	-0.5pp $266	base $233	+0.5pp $199	+1.0pp $165

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1118 S Pope Ave Independence, MO	2.0	1.0	988	$1,195	$1.21	17d	1	0.28mi
321 W South Ave Unit 11 Independence, MO	3.0	2.0	1000	$1,275	$1.27	22d	1	0.74mi
321 W South Ave Unit 9 Independence, MO	2.0	1.5	980	$1,295	$1.32	44d	1	0.74mi
321 W South Ave Unit 8 Independence, MO	2.0	1.5	980	$1,895	$1.93	2d	1	0.74mi
1502 S Pleasant St Independence, MO	3.0	2.0	1200	$1,399	$1.17	44d	1	0.78mi
315 S Crane St Unit A Independence, MO	3.0	1.0	1150	$1,250	$1.09	24d	1	0.94mi
315 S Crane St Unit A Independence, MO	3.0	1.0	1150	$1,250	$1.09	44d	1	0.94mi
2905 S Lee's Summit Rd Independence, MO	1.0–3.0	1.0–2.0	853	$1,330	$1.56	2d	48	1.19mi
724 S Grand Ave Independence, MO	2.0	2.0	1000	$1,149	$1.15	44d	1	1.26mi
523 W Maple Ave Unit 2 A Independence, MO	3.0	2.0	964	$995	$1.03	44d	1	1.39mi
16421 E 29th Ter S Independence, MO	3.0	2.0	1225	$1,606	$1.31	44d	1	1.41mi
3501 S Osage St Independence, MO	3.0	1.0	1300	$1,495	$1.15	17d	1	1.47mi
3501 S Osage St Independence, MO	3.0	1.0	1300	$1,495	$1.15	20d	1	1.47mi
523 S Crysler Ave Unit A Independence, MO	2.0	1.0	900	$650	$0.72	24d	1	1.49mi

Listing history 19 events

1. 2026-04-27
   status Pending
2. 2026-04-23
   price $130,000
3. 2026-03-12
   listed $145,000 Active
4. 2026-03-05
   historical $145,000
5. 2023-03-29
   soldstatus
6. 2023-03-27
   soldstatus Closed 498-char remark

   Show marketing remark (498 chars)

   Clean and Cute - Super Cozy 2 Bd, 1 1/2 bath boasting a nice sized living room with connecting formal dining room offering a great space for entertaining. Kitchen features clean countertops, cabinets and a gas range. Off the kitchen you will find a family room for cozy nights next to the fire. Nice-sized bedrooms, awesome workshop off garage along with a laundry room are an even bigger bonus. Fenced yard features porch area in front and shed in back. Come take a look! This one won't last long!

7. 2023-03-07
   status Pending 498-char remark

   Show marketing remark (498 chars)

   Clean and Cute - Super Cozy 2 Bd, 1 1/2 bath boasting a nice sized living room with connecting formal dining room offering a great space for entertaining. Kitchen features clean countertops, cabinets and a gas range. Off the kitchen you will find a family room for cozy nights next to the fire. Nice-sized bedrooms, awesome workshop off garage along with a laundry room are an even bigger bonus. Fenced yard features porch area in front and shed in back. Come take a look! This one won't last long!

8. 2023-03-05
   listed $126,800 Active 498-char remark

   Show marketing remark (498 chars)

   Clean and Cute - Super Cozy 2 Bd, 1 1/2 bath boasting a nice sized living room with connecting formal dining room offering a great space for entertaining. Kitchen features clean countertops, cabinets and a gas range. Off the kitchen you will find a family room for cozy nights next to the fire. Nice-sized bedrooms, awesome workshop off garage along with a laundry room are an even bigger bonus. Fenced yard features porch area in front and shed in back. Come take a look! This one won't last long!

9. 2015-07-21
   soldstatus
10. 2009-10-21
    soldstatus 395-char remark

    Show marketing remark (395 chars)

    Sold as is, no contingencies, proof of funds or preapproval with offer, EM from certified funds, sizes from taxes, 2 bedroom, 1 1/2 bath, 1.5 story, has formal dining, one garage and fireplace in the family room. close to 23rd street. crawl space Purchace this property for as little as 3% down. This property is approved for HomePath Renovation Mortgage financing. See HomePath.com for details.

11. 2009-05-12
    listed $39,900 395-char remark

    Show marketing remark (395 chars)

    Sold as is, no contingencies, proof of funds or preapproval with offer, EM from certified funds, sizes from taxes, 2 bedroom, 1 1/2 bath, 1.5 story, has formal dining, one garage and fireplace in the family room. close to 23rd street. crawl space Purchace this property for as little as 3% down. This property is approved for HomePath Renovation Mortgage financing. See HomePath.com for details.

12. 2007-12-04
    soldstatus
13. 2002-09-16
    soldstatus
14. 2002-09-13
    soldstatus
15. 2002-08-09
    listed $65,000
16. 1998-07-30
    soldstatus
17. 1998-07-29
    soldstatus
18. 1998-06-08
    listed $59,500
19. 1989-07-13
    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: $1,059 · $88/mo
• Projected year-2 tax: $1,261 · $105/mo
• Expected delta: +$202/yr (+$17/mo · 19.0%)

ⓘ 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: $16,054
• − Mortgage interest: −$7,282
• − Property taxes: −$1,059
• − Insurance: −$650
• − Repairs & maintenance: −$1,284
• − Management: −$1,284
• − Depreciation: −$3,782
• Taxable income: $712
• Est. tax owed @ 24.0%: −$171
• After-tax cash flow: $2,621/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): 35,960
• Household income: $62,439
• Rent vs Own: 30.4% rent · 69.6% own
• Severe rent burden: 1404.0

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 (71%)
• Race & ethnicity: White 71% Black 13% Hispanic / Latino 10% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Italian 9% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% 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: ▼ -180.54%
• Current HPI: 245.3636
• Rent YoY: ▲ 5.09%
• 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

+118.5% since first listed

19 events — show timeline

• 2026-04-27 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-23 Price Changed $130,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-12 Listed $145,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-05 Coming Soon $145,000 Heartland MLS as Distributed by MLS Grid
• 2023-03-29 Sold (Public Records) — Public Records
• 2023-03-27 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2023-03-07 Pending — Heartland MLS as Distributed by MLS Grid
• 2023-03-05 Listed $126,800 Heartland MLS as Distributed by MLS Grid
• 2015-07-21 Sold (Public Records) — Public Records
• 2009-10-21 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2009-05-12 Listed $39,900 Heartland MLS as Distributed by MLS Grid
• 2007-12-04 Sold (Public Records) — Public Records
• 2002-09-16 Sold (Public Records) — Public Records
• 2002-09-13 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2002-08-09 Listed $65,000 Heartland MLS as Distributed by MLS Grid
• 1998-07-30 Sold (Public Records) — Public Records
• 1998-07-29 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 1998-06-08 Listed $59,500 Heartland MLS as Distributed by MLS Grid
• 1989-07-13 Sold (Public Records) — Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,059 · -36.2% YoY. Source: county tax records.