1023 Shearer Rd · Kansas City, KS 66103

$229,000

3 bd · 1.0 ba · 1,406 sqft · SingleFamily public records · 41 Days on market

Built 1954 7,405 sqft lot

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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 +16.2/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Rent growth +3.9/5.0
• 1% rule +3.7/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Newly remodeled 4 bed/1bath, 1400 sq ft, large fenced backyard, hardwood floors, New kitchen cabinets and appliances, freshly remodeled bathroom. New roof and plumbing, newer hvac, Move in ready. This house qualifies for $6,000 down payment assistance with no mortgage insurance and lower than average interest rate. Ask agent for more details. Minutes from downtown, Westport, Plaza and KU Med.

Key facts

• New kitchen cabinets
• Hardwood floors
• 7,405 sq ft lot

Tags

• LARGE FENCED BACKYARD
• HARDWOOD FLOORS
• NEW KITCHEN CABINETS
• FRESHLY REMODELED BATHROOM
• MINUTES FROM DOWNTOWN

Property features AI

Finance

• Other: Lot about 0.17 acres
• HOA & community: No association fees; No maintenance provided

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Ranch style
• Construction: Vinyl siding; Composition roof; Home built approximately 76–100 years ago
• Exterior features: Not in a flood plain

Interior

• Bedrooms: 4 bedrooms
• Flooring: Luxury vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Electric cooling (has air conditioning)
• Interior features: Ranch floor plan; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/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 $200k (12.6% below list).
• Recommended offer: $200k (12.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.8% 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 72/100 on livability (#103 in KS) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• Kansas City (urban): math 8% / reading 15% proficiency, ranked #169 of 169 in KS (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Noble Prentis Elem (math 8% / reading 27%, grade F, #612 of 684 statewide, top 89%, 216 students, 91% FRL); Argentine Middle (math 3% / reading 11%, grade F, #210 of 219 statewide, top 98%, 569 students, 86% FRL); J C Harmon High (math 0% / reading 4%, grade F, #326 of 327 statewide, top 100%, 1,330 students, 79% FRL) — zoned schools at 85% FRL track the district average.
• Market conditions: Rents rising fast (+5.8%/yr); 58 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 369 units permitted in Wyandotte County in 2024 (236 in 5+ unit buildings).
• At $2,001/mo this rent would consume 46% of the median local household income ($52k/yr) (locally 805% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Wyandotte County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y 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: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $200,104 (12.6% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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. 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?
7. 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.
8. 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.
9. 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: 0.87% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.25%
• DSCR: 1.10
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.78% rent growth · sell at horizon

5-year hold

• IRR: -9.9%
• Equity multiple: 0.63×
• Total profit: $-23,739
• Equity at exit: $34,145

10-year hold

• IRR: 2.7%
• Equity multiple: 1.22×
• Total profit: $14,003
• Equity at exit: $19,800

Cash invested: $64,120 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kansas: 83 Strongly Landlord-Friendly · R+10
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; moderate court pace.

Methodology + full state rankings →

ZIP-level market 66103

• Home prices YoY: -20.2%
• Rents YoY: 5.8%
• Active inventory: 58
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,001 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$164 /mo · $1,971/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $120

Break-even live

Break-even rent $1,849

Max offer price $229,000

Occupancy floor 89%

Sensitivity live

Price	-10% $250	-5% $185	+0% $120	+5% $55	+10% $-9
Rent	-10% $-38	-5% $41	+0% $120	+5% $199	+10% $278
Rate	-1.0pp $236	-0.5pp $179	base $120	+0.5pp $61	+1.0pp $1

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3600 Rainbow Blvd Kansas City, KS	2.0	1.0–2.0	811	$3,310	$4.08	12d	38	1.23mi

Listing history 30 events

1. 2026-06-16
   status $229,000 Pending 41 DOM
2. 2026-06-15
   days on market $229,000 Active 41 DOM
3. 2026-06-13
   days on market $229,000 Active 39 DOM
4. 2026-06-13
   days on market $229,000 Active 38 DOM
5. 2026-06-09
   days on market $229,000 Active 35 DOM
6. 2026-06-08
   days on market $229,000 Active 34 DOM
7. 2026-06-07
   days on market $229,000 Active 33 DOM
8. 2026-06-05
   remarks 395-char remark
9. 2026-06-05
   days on market $229,000 Active 30 DOM
10. 2026-06-03
    days on market $229,000 Active 29 DOM
11. 2026-06-02
    days on market $229,000 Active 28 DOM
12. 2026-06-01
    days on market $229,000 Active 27 DOM
13. 2026-05-31
    days on market $229,000 Active 26 DOM
14. 2026-05-05
    listed $229,000 Active
15. 2026-02-09
    historical
16. 2026-02-03
    price $155,000
17. 2026-01-17
    price $160,000
18. 2026-01-10
    price $170,000
19. 2025-12-13
    listed $175,000 Active
20. 2025-06-23
    historical
21. 2025-06-09
    listed $675,000 Active
22. 2019-05-09
    historical
23. 2019-05-01
    listed $360,000 Active
24. 2013-01-04
    historical
25. 2012-11-27
    listed $40,000
26. 2009-03-06
    soldstatus
27. 2009-01-26
    listed $23,000
28. 2008-04-25
    listed $45,000
29. 2005-04-29
    soldstatus
30. 2004-01-29
    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 KS · Resets to sale price

• Current annual tax: $1,971 · $164/mo
• Projected year-2 tax: $3,229 · $269/mo
• Expected delta: +$1,258/yr (+$105/mo · 63.8%)

ⓘ 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 6 d/yr ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,012
• − Mortgage interest: −$12,828
• − Property taxes: −$1,971
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,921
• − Management: −$1,921
• − Depreciation: −$6,662
• Taxable loss: −$2,435
• Est. tax savings @ 24.0%: +$584
• After-tax cash flow: $2,028/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
• NCES district ID: 2007950
• Math proficiency: 8% ▼ -10.00%
• Reading proficiency: 15% ▼ -4.00%
• Median HH income: $34,774
• Composite: 9.38/100
• National rank: #9856
• State rank: #169 of 169 in KS

Livability — Kansas City

• Score: 72/100
• State rank: #103
• US rank: #6054

Category grades

Amenities A Commute A+ Cost of living A+ Crime F Employment D- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kansas City, KS
• County: Wyandotte County · 130,206 people
• City population: 130,206
• Metro: Kansas City, MO-KS
• Population (ZIP): 12,730
• Household income: $52,479
• Rent vs Own: 59.4% rent · 40.6% own
• Severe rent burden: 805.0

Population outlook (Wyandotte County) Hauer SSP2

• Today (2025): 177,063 people
• By 2030: 183,212 · +3.5%
• By 2040: 195,697 · +10.5%
• By 2050: 207,897 · +17.4%
• By 2075: 236,169 · +33.4%
• By 2100: 255,790 · +44.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 45% Hispanic / Latino 31% Two or more races 12% Black 12% Asian 6% Native American 3%
• Hispanic origin (detail): Mexican 26% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Italian 1% Iranian 1%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 74% English-only · Spanish 20% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Wyandotte

• 2024 margin: Strong D (+23.9) · D 61.1% · R 37.3% · Other 1.6%
• 2008→2024 swing: -17.0pp toward R · 2008: 40.9pp · 2024: 23.9pp
• All cycles: 2024: D+23.9 2020: D+30.9 2016: D+29.1 2012: D+36.4 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.15%
• Current HPI: 368.8332
• Rent YoY: ▲ 5.78%
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+408.9% since first listed

17 events — show timeline

• 2026-05-05 Listed $229,000 Heartland MLS as Distributed by MLS Grid
• 2026-02-09 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-02-03 Price Changed $155,000 Heartland MLS as Distributed by MLS Grid
• 2026-01-17 Price Changed $160,000 Heartland MLS as Distributed by MLS Grid
• 2026-01-10 Price Changed $170,000 Heartland MLS as Distributed by MLS Grid
• 2025-12-13 Listed $175,000 Heartland MLS as Distributed by MLS Grid
• 2025-06-23 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-06-09 Listed $675,000 Heartland MLS as Distributed by MLS Grid
• 2019-05-09 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2019-05-01 Listed $360,000 Heartland MLS as Distributed by MLS Grid
• 2013-01-04 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2012-11-27 Listed $40,000 Heartland MLS as Distributed by MLS Grid
• 2009-03-06 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2009-01-26 Listed $23,000 Heartland MLS as Distributed by MLS Grid
• 2008-04-25 Listed $45,000 Heartland MLS as Distributed by MLS Grid
• 2005-04-29 Sold (Public Records) — Public Records
• 2004-01-29 Sold (Public Records) — Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,971 · +21.2% YoY. Source: county tax records.