1017 E Smith Ave · Independence, MO 64050

$143,900

3 bd · 1.0 ba · 1,303 sqft · SingleFamily public records · 85 Days on market

Built 1950 7,011 sqft lot $110/sqft · 16% below area Est $170k · 16% under

---

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 +19.4/30.0
• ARV discount +14.5/15.0
• DSCR +6.1/10.0
• 1% rule +4.5/10.0
• 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

Listing remarks MLS

Spacious home featuring 4 bedrooms, 2 bathrooms, and a garage with a functional layout and plenty of room to spread out. The main living areas offer comfortable space for both everyday living and entertaining, while the kitchen provides ample cabinet and counter space. The primary bedroom includes an en-suite bathroom, and additional bedrooms offer flexibility for guests, office, or hobbies. Enjoy the backyard with space to relax or entertain. Great opportunity with plenty of potential!

Key facts

• 7,011 sq ft lot
• 2 garage spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $144k.

Deal economics

• At list price, monthly cash flow is $161 ($2k/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 $136k (5.2% below list).
• Recommended offer: $135k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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); 125 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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).
• This rent runs 34% of the median local income ($49k/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 $995 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.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $70k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,266 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.95% ✗
• Cap rate: 7.64%
• Cash-on-cash: 4.80%
• DSCR: 1.21
• GRM: 8.8

CMA / ARV

• ARV (median comp): $170,479
• List price: $143,900
• Delta: -15.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1034 E Lexington Ave	0.05mi	3/2.0	1,306 (+0%)	10mo	$175,000	$134	85
103 N Wilson Ave	0.05mi	3/1.5	1,132 (-13%)	0mo	$120,000	$106	73
620 E Walnut St	0.33mi	3/1.0	1,266 (-3%)	10mo	$175,000	$138	72
217 S Hunter St	0.17mi	3/1.0	1,120 (-14%)	0mo	$170,000	$152	68
606 N Rogers St	0.32mi	2/1.0 (-1)	1,194 (-8%)	2mo	$150,000	$126	64
1702 E T C Lea Rd	0.56mi	2/1.5 (-1)	1,297 (-0%)	7mo	$158,000	$122	61
912 E Frederick St	0.53mi	3/2.0	1,218 (-6%)	1mo	$145,000	$119	59
613 E Lexington Ave	0.30mi	2/2.0 (-1)	1,433 (+10%)	4mo	$175,000	$122	58
814 S Saville Ave	0.68mi	4/1.0 (+1)	1,357 (+4%)	6mo	$165,000	$122	51
822 S Raymond St	0.68mi	3/1.0	1,190 (-9%)	6mo	$158,000	$133	48
809 S Mills St	0.64mi	3/1.5	1,200 (-8%)	11mo	$205,000	$171	46
625 N Lakeview Ave	0.50mi	4/2.0 (+1)	1,440 (+10%)	8mo	$165,000	$115	44

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: -8.0%
• Equity multiple: 0.70×
• Total profit: $-11,991
• Equity at exit: $21,456

10-year hold

• IRR: 2.4%
• Equity multiple: 1.18×
• Total profit: $7,216
• Equity at exit: $12,442

Cash invested: $40,292 (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: 8.8×

Monthly cashflow live

• Estimated rent: $1,364 high
• Mortgage (P&I): −$755
• Tax from tax record: −$102 /mo · $1,221/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $161

Break-even live

Break-even rent $1,160

Max offer price $143,900

Occupancy floor 83%

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: $35,975
• Closing costs: $4,317
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 S Crane St Unit A Independence, MO	3.0	1.0	1150	$1,250	$1.09	23d	1	0.23mi
315 S Crane St Unit A Independence, MO	3.0	1.0	1150	$1,250	$1.09	43d	1	0.23mi
1021 N Kiger Rd Independence, MO	3.0	2.0	1200	$1,500	$1.25	17d	1	0.68mi
414 Hillside Dr Independence, MO	2.0	1.0–2.0	627	$1,199	$1.91	43d	3	0.83mi
1118 S Pope Ave Independence, MO	2.0	1.0	988	$1,195	$1.21	16d	1	0.89mi
523 W Maple Ave Unit 2 A Independence, MO	3.0	2.0	964	$995	$1.03	43d	1	1.15mi
321 W South Ave Unit 11 Independence, MO	3.0	2.0	1000	$1,275	$1.27	21d	1	1.24mi
321 W South Ave Unit 8 Independence, MO	2.0	1.5	980	$1,895	$1.93	1d	1	1.24mi
321 W South Ave Unit 9 Independence, MO	2.0	1.5	980	$1,295	$1.32	43d	1	1.24mi
1808 N Kiger Rd Independence, MO	3.0	1.5	1800	$1,550	$0.86	43d	1	1.28mi
1612 N Dodgion Ave Independence, MO	3.0	1.0	1000	$1,345	$1.34	43d	1	1.34mi
1207 N McCoy St Independence, MO	3.0	2.0	972	$1,295	$1.33	7d	1	1.41mi
718 E Gudgell Ave Independence, MO	4.0	2.0	1624	$1,775	$1.09	16d	1	1.42mi

Listing history 27 events

1. 2026-06-18
   days on market $143,900 Active 85 DOM
2. 2026-06-17
   days on market $143,900 Active 84 DOM
3. 2026-06-16
   days on market $143,900 Active 83 DOM
4. 2026-06-15
   days on market $143,900 Active 82 DOM
5. 2026-06-13
   pricedays on market $143,900 Active 80 DOM
6. 2026-06-09
   days on market $149,999 Active 76 DOM
7. 2026-06-08
   days on market $149,999 Active 75 DOM
8. 2026-06-07
   days on market $149,999 Active 74 DOM
9. 2026-06-05
   days on market $149,999 Active 71 DOM
10. 2026-06-03
    days on market $149,999 Active 70 DOM
11. 2026-06-02
    days on market $149,999 Active 69 DOM
12. 2026-06-01
    days on market $149,999 Active 68 DOM
13. 2026-05-31
    days on market $149,999 Active 67 DOM
14. 2026-05-09
    price $174,900 491-char remark

    Show marketing remark (491 chars)

    Spacious home featuring 4 bedrooms, 2 bathrooms, and a garage with a functional layout and plenty of room to spread out. The main living areas offer comfortable space for both everyday living and entertaining, while the kitchen provides ample cabinet and counter space. The primary bedroom includes an en-suite bathroom, and additional bedrooms offer flexibility for guests, office, or hobbies. Enjoy the backyard with space to relax or entertain. Great opportunity with plenty of potential!

15. 2026-04-28
    price $199,950 491-char remark

    Show marketing remark (491 chars)

    Spacious home featuring 4 bedrooms, 2 bathrooms, and a garage with a functional layout and plenty of room to spread out. The main living areas offer comfortable space for both everyday living and entertaining, while the kitchen provides ample cabinet and counter space. The primary bedroom includes an en-suite bathroom, and additional bedrooms offer flexibility for guests, office, or hobbies. Enjoy the backyard with space to relax or entertain. Great opportunity with plenty of potential!

16. 2026-03-25
    listed $213,900 Active 491-char remark

    Show marketing remark (491 chars)

    Spacious home featuring 4 bedrooms, 2 bathrooms, and a garage with a functional layout and plenty of room to spread out. The main living areas offer comfortable space for both everyday living and entertaining, while the kitchen provides ample cabinet and counter space. The primary bedroom includes an en-suite bathroom, and additional bedrooms offer flexibility for guests, office, or hobbies. Enjoy the backyard with space to relax or entertain. Great opportunity with plenty of potential!

17. 2026-01-21
    historical
18. 2026-01-08
    price $159,900
19. 2025-12-05
    listed $165,000 Active
20. 2021-10-11
    soldstatus
21. 2021-10-08
    soldstatus Closed
22. 2021-09-30
    status Pending
23. 2021-09-16
    historical Active Under Contract
24. 2021-09-15
    listed $130,000 Active
25. 2018-03-09
    soldstatus
26. 2017-10-18
    soldstatus
27. 1955-05-01
    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: $1,221 · $102/mo
• Projected year-2 tax: $1,396 · $116/mo
• Expected delta: +$175/yr (+$15/mo · 14.3%)

ⓘ 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: $16,367
• − Mortgage interest: −$8,061
• − Property taxes: −$1,221
• − Insurance: −$720
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$4,186
• Taxable loss: −$440
• Est. tax savings @ 24.0%: +$105
• After-tax cash flow: $2,039/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

+34.5% since first listed

14 events — show timeline

• 2026-05-09 Price Changed $174,900 Heartland MLS as Distributed by MLS Grid
• 2026-04-28 Price Changed $199,950 Heartland MLS as Distributed by MLS Grid
• 2026-03-25 Listed $213,900 Heartland MLS as Distributed by MLS Grid
• 2026-01-21 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-01-08 Price Changed $159,900 Heartland MLS as Distributed by MLS Grid
• 2025-12-05 Listed $165,000 Heartland MLS as Distributed by MLS Grid
• 2021-10-11 Sold (Public Records) — Public Records
• 2021-10-08 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2021-09-30 Pending — Heartland MLS as Distributed by MLS Grid
• 2021-09-16 Contingent — Heartland MLS as Distributed by MLS Grid
• 2021-09-15 Listed $130,000 Heartland MLS as Distributed by MLS Grid
• 2018-03-09 Sold (Public Records) — Public Records
• 2017-10-18 Sold (Public Records) — Public Records
• 1955-05-01 Sold (Public Records) — Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,221 · -40.5% YoY. Source: county tax records.