1504 N Emery St · Independence, MO 64050

$110,000

3 bd · 2.0 ba · 760 sqft · SingleFamily public records · 109 Days on market

Built 1909 7,995 sqft lot Est $141k · 22% 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 +25.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.3/10.0
• 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

Welcome home! Lots of potential in this 3 bedroom home. Perfect starter home. Quiet neighborhood with fishing access directly across the street. HVAC System is roughly 3 years old. Seller is selling As-Is, home is livable but does need some work.

Key facts

• 7,995 sq ft lot
• Garage
• Listed 109 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: Ott Elem. (math 33% / reading 44%, grade F, #599 of 1,115 statewide, top 54%, 398 students, 77% FRL); William Chrisman High (math 21% / reading 45%, grade F, #351 of 521 statewide, top 68%, 1,406 students, 66% FRL).
• Market conditions: Rents rising (+3.8%/yr); 126 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• This rent runs 31% 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 $761 of loan paydown is wiped out by about $3k 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 + 3.8% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $56k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — 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: 1.13% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.79%
• DSCR: 1.44
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $141,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1004 N Duvall Ave	0.52mi	2/2.0 (-1)	755 (-1%)	2mo	$185,000	$245	68
1701 1/2 N Liberty St	0.51mi	2/1.0 (-1)	763 (+0%)	14mo	$115,000	$151	55
523 E Nettleton Ave	0.54mi	2/1.0 (-1)	720 (-5%)	3mo	$119,900	$167	54
1710 N Noland Rd	0.41mi	2/1.0 (-1)	774 (+2%)	18mo	$150,000	$194	54
605 E Nettleton Ave	0.53mi	2/1.0 (-1)	720 (-5%)	4mo	$149,900	$208	54
1204 E Salisbury Rd	0.44mi	2/1.0 (-1)	827 (+9%)	3mo	$169,000	$204	53
1615 N High St	0.30mi	3/1.0	864 (+14%)	10mo	$150,000	$174	51
721 N Rogers St	0.72mi	3/1.0	816 (+7%)	8mo	$125,000	$153	44
1614 N Dodgion St	0.28mi	3/1.0	864 (+14%)	20mo	$149,900	$173	44
723 E Zaun Ave	0.71mi	2/1.0 (-1)	784 (+3%)	12mo	$44,000	$56	42
728 N Sunrise Dr	0.65mi	3/1.0	864 (+14%)	1mo	$165,000	$191	42
409 W Mechanic Ave	0.70mi	2/1.0 (-1)	671 (-12%)	16mo	$125,000	$186	26

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-828
• Equity at exit: $16,401

10-year hold

• IRR: 9.8%
• Equity multiple: 1.78×
• Total profit: $24,039
• Equity at exit: $9,511

Cash invested: $30,800 (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: 126
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,244 high
• Mortgage (P&I): −$577
• Tax from tax record: −$109 /mo · $1,302/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $251

Break-even live

Break-even rent $926

Max offer price $110,000

Occupancy floor 75%

Sensitivity live

Price	-10% $313	-5% $282	+0% $251	+5% $220	+10% $189
Rent	-10% $153	-5% $202	+0% $251	+5% $300	+10% $349
Rate	-1.0pp $307	-0.5pp $279	base $251	+0.5pp $223	+1.0pp $194

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1612 N Dodgion Ave Independence, MO	3.0	1.0	1000	$1,345	$1.34	44d	1	0.28mi
1714 N Pearl St Independence, MO	2.0	1.0	792	$1,195	$1.51	44d	1	0.33mi
1100 N Noland Rd Apt D Independence, MO	2.0	1.0	800	$1,025	$1.28	8d	1	0.45mi
902 E Frederick St Independence, MO	2.0	1.0	850	$995	$1.17	22d	1	0.54mi
630 N Hocker Ave Independence, MO	3.0	1.0	864	$1,325	$1.53	24d	1	0.68mi
1314 E Frederick St Independence, MO	2.0	1.0	800	$999	$1.25	44d	1	0.68mi
1207 N McCoy St Independence, MO	3.0	2.0	972	$1,295	$1.33	8d	1	0.80mi
1214 N Union St Independence, MO	2.0	1.0	912	$975	$1.07	44d	1	0.96mi
2405 N River Blvd Independence, MO	2.0	1.0	830	$1,095	$1.32	8d	1	1.15mi
16005 E Cogan Ln Independence, MO	4.0	2.0	1080	$1,851	$1.71	2d	1	1.18mi
2522 N River Blvd Independence, MO	3.0	1.0	910	$1,495	$1.64	5d	1	1.23mi
16012 E T C Lea Rd Unit C Independence, MO	2.0	1.0	800	$795	$0.99	24d	1	1.25mi
523 W Maple Ave Unit 1A Independence, MO	2.0	1.0	815	$945	$1.16	8d	1	1.28mi
523 W Maple Ave Unit 2 A Independence, MO	3.0	2.0	964	$995	$1.03	44d	1	1.29mi
3407 N Pleasant St Independence, MO	3.0	1.5	905	$1,400	$1.55	4d	1	1.48mi

Listing history 19 events

1. 2026-02-24
   status Pending
2. 2026-02-18
   historical Active Under Contract
3. 2026-02-15
   price $110,000
4. 2026-02-04
   price $125,000
5. 2025-11-08
   listed $165,500 Active
6. 2025-11-07
   historical $165,500
7. 2024-07-16
   soldstatus
8. 2024-07-15
   soldstatus Closed 246-char remark

   Show marketing remark (246 chars)

   Welcome home! Lots of potential in this 3 bedroom home. Perfect starter home. Quiet neighborhood with fishing access directly across the street. HVAC System is roughly 3 years old. Seller is selling As-Is, home is livable but does need some work.

9. 2024-06-04
   status Pending 246-char remark

   Show marketing remark (246 chars)

   Welcome home! Lots of potential in this 3 bedroom home. Perfect starter home. Quiet neighborhood with fishing access directly across the street. HVAC System is roughly 3 years old. Seller is selling As-Is, home is livable but does need some work.

10. 2024-06-02
    listed $140,000 Active 246-char remark

    Show marketing remark (246 chars)

    Welcome home! Lots of potential in this 3 bedroom home. Perfect starter home. Quiet neighborhood with fishing access directly across the street. HVAC System is roughly 3 years old. Seller is selling As-Is, home is livable but does need some work.

11. 2017-04-11
    soldstatus
12. 2016-12-29
    soldstatus
13. 2009-05-13
    historical
14. 2009-04-16
    listed $105,000
15. 2008-07-10
    listed $100,000
16. 2006-12-19
    soldstatus
17. 2006-12-14
    soldstatus
18. 2006-07-27
    listed $104,999
19. 1992-03-20
    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: $1,302 · $109/mo
• Projected year-2 tax: $1,302 · $109/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 16 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: $14,923
• − Mortgage interest: −$6,162
• − Property taxes: −$1,302
• − Insurance: −$550
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$3,200
• Taxable income: $1,321
• Est. tax owed @ 24.0%: −$317
• After-tax cash flow: $2,697/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

+4.8% since first listed

19 events — show timeline

• 2026-02-24 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-02-18 Contingent — Heartland MLS as Distributed by MLS Grid
• 2026-02-15 Price Changed $110,000 Heartland MLS as Distributed by MLS Grid
• 2026-02-04 Price Changed $125,000 Heartland MLS as Distributed by MLS Grid
• 2025-11-08 Listed $165,500 Heartland MLS as Distributed by MLS Grid
• 2025-11-07 Coming Soon $165,500 Heartland MLS as Distributed by MLS Grid
• 2024-07-16 Sold (Public Records) — Public Records
• 2024-07-15 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2024-06-04 Pending — Heartland MLS as Distributed by MLS Grid
• 2024-06-02 Listed $140,000 Heartland MLS as Distributed by MLS Grid
• 2017-04-11 Sold (Public Records) — Public Records
• 2016-12-29 Sold (Public Records) — Public Records
• 2009-05-13 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2009-04-16 Listed $105,000 Heartland MLS as Distributed by MLS Grid
• 2008-07-10 Listed $100,000 Heartland MLS as Distributed by MLS Grid
• 2006-12-19 Sold (Public Records) — Public Records
• 2006-12-14 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2006-07-27 Listed $104,999 Heartland MLS as Distributed by MLS Grid
• 1992-03-20 Sold (Public Records) — Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,302 · +18.6% YoY. Source: county tax records.