206 W 81st St · Kansas City, MO 64114

$215,000

2 bd · 1.0 ba · 1,044 sqft · SingleFamily public records · 72 Days on market

Built 1946 4,808 sqft lot $206/sqft · 13% below area Est $247k · 13% under

---

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).

• ARV discount +13.3/15.0
• Cash flow +10.7/30.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and updated 3 bedroom, 2 bathroom home in the heart of Waldo! This home features a functional layout with fresh neutral finishes, updated flooring, and great natural light throughout. The kitchen offers modern cabinetry, sleek countertops, and a clean subway tile backsplash. Both bathrooms have been refreshed with contemporary finishes, including a beautifully tiled shower. Bonus sunroom provides additional living space perfect for a second living area, office, or playroom. Enjoy the covered front porch along with a manageable yard and off-street parking. Convenient location close to shopping, dining, and major highways.

Key facts

• Modern cabinetry
• Bonus sunroom
• Functional layout

Tags

• FUNCTIONAL LAYOUT
• MODERN CABINETRY
• SLEEK COUNTERTOPS
• CLEAN SUBWAY TILE BACKSPLASH
• TILED SHOWER
• BONUS SUNROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (8.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (25.8% below list).
• Recommended offer: $160k (25.8% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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 (+4.6%/yr); 174 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $6k 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 72 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $35k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,548 (25.8% below list)

Questions for the listing agent

1. 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?
2. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.74% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.01%
• DSCR: 0.91
• GRM: 11.2

CMA / ARV

• ARV (median comp): $246,564
• List price: $215,000
• Delta: -12.80%
• 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
10 W 82nd Ter	0.22mi	3/2.0 (+1)	983 (-6%)	0mo	$260,000	$264	71
106 W 81st St	0.05mi	3/1.0 (+1)	1,190 (+14%)	2mo	$245,000	$206	67
8006 Jarboe St	0.57mi	2/1.0	1,004 (-4%)	1mo	$315,000	$314	66
7846 Summit St	0.44mi	3/2.0 (+1)	1,062 (+2%)	3mo	$329,000	$310	65
7824 Jefferson St	0.43mi	3/1.0 (+1)	991 (-5%)	2mo	$275,000	$277	65
707 W 86th St	0.73mi	2/1.0	1,040 (-0%)	1mo	$255,000	$245	64
7918 Ward Parkway Plz	0.65mi	2/1.0	1,001 (-4%)	0mo	$265,000	$265	63
601 W 84th Ter	0.51mi	2/1.0	1,120 (+7%)	2mo	$240,000	$214	62
701 W 86th St	0.71mi	2/1.0	985 (-6%)	1mo	$265,000	$269	57
8020 Mercier St	0.71mi	3/1.0 (+1)	1,005 (-4%)	1mo	$229,000	$228	55
7905 Belleview Ave	0.52mi	3/2.0 (+1)	1,137 (+9%)	1mo	$299,000	$263	51
8357 Locust St	0.63mi	3/1.0 (+1)	936 (-10%)	0mo	$265,000	$283	48

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 · 4.57% rent growth · sell at horizon

5-year hold

• IRR: -18.1%
• Equity multiple: 0.36×
• Total profit: $-38,743
• Equity at exit: $32,057

10-year hold

• IRR: -7.8%
• Equity multiple: 0.48×
• Total profit: $-31,361
• Equity at exit: $18,589

Cash invested: $60,200 (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 64114

• Rents YoY: 4.6%
• Active inventory: 174
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,595 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$144 /mo · $1,728/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $-101

Break-even live

Break-even rent $1,723

Max offer price $197,217

Occupancy floor —

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 W 79th Ter Kansas City, MO	3.0	2.0	1312	$2,205	$1.68	1d	1	0.14mi
7919 Jefferson St Kansas City, MO	3.0	1.0	1388	$1,950	$1.40	14d	1	0.29mi
8104 McGee St Kansas City, MO	2.0	1.0	1100	$1,350	$1.23	23d	1	0.33mi
320 E 79th Ter Kansas City, MO	3.0	1.0	1100	$1,700	$1.55	43d	1	0.43mi
8419 Pennsylvania Ave Kansas City, MO	3.0	1.0	1200	$1,650	$1.38	14d	1	0.52mi
803 W 84th St Kansas City, MO	2.0	1.0	950	$1,095	$1.15	19d	1	0.56mi
8410 Summit St Kansas City, MO	2.0	1.0	768	$1,375	$1.79	16d	1	0.57mi
7524 Baltimore Ave Kansas City, MO	2.0	1.0	1000	$1,300	$1.30	16d	1	0.65mi
7605 Locust St Kansas City, MO	2.0	1.0	744	$1,325	$1.78	7d	1	0.73mi
421 W 87 Pl Kansas City, MO	3.0	1.0	1056	$1,195	$1.13	16d	1	0.77mi
8700 Wornall Rd Kansas City, MO	1.0–3.0	1.0	836	$995	$1.19	14d	3	0.78mi
8101 Campbell St Kansas City, MO	2.0	1.0	820	$888	$1.08	1d	1	0.80mi
8704 Wornall Rd Unit B Kansas City, MO	2.0	1.0	820	$995	$1.21	16d	1	0.80mi
7425 Pennsylvania Ave Kansas City, MO	3.0	2.0	1000	$1,695	$1.70	7d	1	0.81mi
8150 Troost Ave Unit 53 Kansas City, MO	2.0	1.0	900	$1,200	$1.33	43d	1	0.85mi
8208 Troost Ave Kansas City, MO	1.0–2.0	1.0	761	$1,395	$1.83	7d	2	0.86mi
8208 Troost Ave Unit 8218-3 Kansas City, MO	2.0	1.0	750	$1,345	$1.79	43d	1	0.86mi
8222 Troost Ave Unit 8222-1 Kansas City, MO	2.0	1.0	825	$1,400	$1.70	14d	1	0.90mi
7610 Terrace St Kansas City, MO	2.0	1.0	1000	$1,525	$1.52	43d	1	0.91mi
7544 Terrace St Unit 7544TER Kansas City, MO	2.0	1.0	1000	$1,525	$1.52	43d	1	0.94mi
8701 Chestnut Cir Kansas City, MO	1.0–2.0	1.0–2.0	925	$1,115	$1.21	1d	15	0.96mi
7528 Terrace St Unit 7528TER Kansas City, MO	2.0	1.0	1000	$1,525	$1.52	43d	1	0.97mi
2311 W 79th St Prairie Village, KS	2.0	1.0	1050	$2,300	$2.19	12d	1	1.07mi
7131 Main St Kansas City, MO	1.0	1.0	850	$1,250	$1.47	4d	1	1.15mi
8660 State Line Rd Leawood, KS	1.0–3.0	1.0–2.5	1156	$2,530	$2.19	1d	17	1.17mi
7543 Booth Dr Prairie Village, KS	3.0	2.0	1360	$2,445	$1.80	23d	1	1.19mi
8226 Flora Ave Kansas City, MO	2.0	1.0	862	$1,200	$1.39	3d	1	1.22mi
2504 W 76th St Prairie Village, KS	3.0	1.0	950	$1,900	$2.00	17d	1	1.25mi
202 E Gregory Blvd Kansas City, MO	1.0	1.0	600	$1,149	$1.92	2d	2	1.26mi
316 E Gregory Blvd Unit 3W Kansas City, MO	1.0	1.0	700	$1,149	$1.64	16d	1	1.27mi
7632 Rainbow Dr Prairie Village, KS	3.0	1.0	1139	$1,900	$1.67	23d	1	1.31mi
408 E 92nd St Kansas City, MO	3.0	1.0	1274	$1,595	$1.25	4d	1	1.46mi

Listing history 24 events

1. 2026-06-18
   days on market $215,000 Active 72 DOM
2. 2026-06-17
   days on market $215,000 Active 71 DOM
3. 2026-06-16
   days on market $215,000 Active 70 DOM
4. 2026-06-15
   days on market $215,000 Active 69 DOM
5. 2026-06-13
   days on market $215,000 Active 67 DOM
6. 2026-06-09
   days on market $215,000 Active 63 DOM
7. 2026-06-08
   days on market $215,000 Active 62 DOM
8. 2026-06-07
   days on market $215,000 Active 61 DOM
9. 2026-06-05
   days on market $215,000 Active 58 DOM
10. 2026-06-03
    days on market $215,000 Active 57 DOM
11. 2026-06-02
    days on market $215,000 Active 56 DOM
12. 2026-06-01
    days on market $215,000 Active 55 DOM
13. 2026-06-01
    price $215,000 Active 54 DOM
14. 2026-05-31
    days on market $235,000 Active 54 DOM
15. 2026-05-06
    price $235,000 637-char remark

    Show marketing remark (637 chars)

    Charming and updated 3 bedroom, 2 bathroom home in the heart of Waldo! This home features a functional layout with fresh neutral finishes, updated flooring, and great natural light throughout. The kitchen offers modern cabinetry, sleek countertops, and a clean subway tile backsplash. Both bathrooms have been refreshed with contemporary finishes, including a beautifully tiled shower. Bonus sunroom provides additional living space perfect for a second living area, office, or playroom. Enjoy the covered front porch along with a manageable yard and off-street parking. Convenient location close to shopping, dining, and major highways.

16. 2026-04-07
    listed $249,999 Active 637-char remark

    Show marketing remark (637 chars)

    Charming and updated 3 bedroom, 2 bathroom home in the heart of Waldo! This home features a functional layout with fresh neutral finishes, updated flooring, and great natural light throughout. The kitchen offers modern cabinetry, sleek countertops, and a clean subway tile backsplash. Both bathrooms have been refreshed with contemporary finishes, including a beautifully tiled shower. Bonus sunroom provides additional living space perfect for a second living area, office, or playroom. Enjoy the covered front porch along with a manageable yard and off-street parking. Convenient location close to shopping, dining, and major highways.

17. 2022-07-02
    price $1,350
18. 2016-04-22
    soldstatus
19. 2015-05-26
    historical
20. 2015-03-23
    listed $88,000
21. 2009-01-22
    soldstatus
22. 2009-01-16
    soldstatus
23. 2008-09-08
    listed $65,000
24. 1989-09-15
    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: $1,728 · $144/mo
• Projected year-2 tax: $2,086 · $174/mo
• Expected delta: +$357/yr (+$30/mo · 20.7%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,146
• − Mortgage interest: −$12,043
• − Property taxes: −$1,728
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,532
• − Management: −$1,532
• − Depreciation: −$6,255
• Taxable loss: −$5,019
• Est. tax savings @ 24.0%: +$1,205
• After-tax cash flow: $-3/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): 24,229
• Household income: $81,275
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 851.0

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 (75%)
• Race & ethnicity: White 75% Black 11% Two or more races 8% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 3% Italian 3% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 2%

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: ▼ -311.24%
• Current HPI: 280.5587
• Rent YoY: ▲ 4.57%
• 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

+261.5% since first listed

10 events — show timeline

• 2026-05-06 Price Changed $235,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-07 Listed $249,999 Heartland MLS as Distributed by MLS Grid
• 2022-07-02 Price Changed $1,350 RENT.
• 2016-04-22 Sold (Public Records) — Public Records
• 2015-05-26 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2015-03-23 Listed $88,000 Heartland MLS as Distributed by MLS Grid
• 2009-01-22 Sold (Public Records) — Public Records
• 2009-01-16 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2008-09-08 Listed $65,000 Heartland MLS as Distributed by MLS Grid
• 1989-09-15 Sold (Public Records) — Public Records

Property tax history

+6.9%/yr

Latest (2025): $1,728 · -12.4% YoY. Source: county tax records.