9324 E 15th St · Independence, MO 64052

$139,900

2 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 12 Days on market

Built 1922 7,259 sqft lot Est $144k · at est.

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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 +15.5/30.0
• ARV discount +8.7/15.0
• DSCR +4.8/10.0
• Livability +4.1/5.0
• Rent growth +3.9/5.0
• 1% rule +3.2/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold as-is, Special Addendums Apply, No disclosure, No Contingencies, Buyer is welcome to do inspections but not to be used as bargaining tool. Thanks for showing"

Key facts

• Spacious kitchen
• Unfinished basement
• 1920s bungalow

Tags

• 1920S BUNGALOW
• SPACIOUS KITCHEN
• UNFINISHED BASEMENT
• 0.17-ACRE LEVEL LOT
• QUIET ESTABLISHED NEIGHBORHOOD

Property features AI

Finance

• HOA & community: No association fees

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Ranch floor plan; One-story
• Construction: Frame construction; Composition roof
• Exterior features: Paved road access; Not in a flood plain

Interior

• Kitchen: Refrigerator; Electric range
• Bedrooms: 2 bedrooms located on the first level
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Fireplace (1)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $56 ($676/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 $115k (17.7% below list).
• Recommended offer: $115k (17.7% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: Korte Elem. (math 17% / reading 32%, grade F, #879 of 1,115 statewide, top 81%, 447 students, 85% FRL); Clifford H. Nowlin Middle (math 13% / reading 29%, grade F, #342 of 391 statewide, top 88%, 875 students, 80% FRL); Van Horn High (math 13% / reading 27%, grade F, #472 of 521 statewide, top 91%, 1,047 students, 72% FRL) — zoned schools average 79% FRL vs 58% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 135 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $967 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y 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.
• Current owner paid $120k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,133 (17.7% below list)

Questions for the listing agent

1. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.82% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.73%
• DSCR: 1.08
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $143,616
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9308 E 16th St S	0.07mi	2/1.0	1,104 (+4%)	6mo	$119,500	$108	84
9421 E 15th St	0.08mi	2/1.5	1,014 (-4%)	4mo	$164,900	$163	84
1731 S Crescent Ave	0.24mi	2/1.0	944 (-11%)	4mo	$120,000	$127	68
1727 S Crescent Ave	0.23mi	2/1.0	1,167 (+10%)	6mo	$145,000	$124	67
1806 S Evanston Ave	0.34mi	3/2.0 (+1)	1,100 (+4%)	3mo	$175,000	$159	66
1515 S Home Ave	0.42mi	3/1.5 (+1)	1,104 (+4%)	0mo	$150,000	$136	65
826 S Arlington Ave	0.55mi	2/1.5	968 (-8%)	3mo	$175,000	$181	56
823 S Huttig Ave	0.74mi	3/2.0 (+1)	1,052 (-0%)	2mo	$76,000	$72	54
10143 E Golf Ave	0.67mi	3/1.0 (+1)	1,135 (+8%)	0mo	$119,900	$106	51
2247 Blue Ridge Blvd	0.71mi	3/1.0 (+1)	1,004 (-5%)	5mo	$165,000	$164	50
1822 S Hawthorne Ave	0.47mi	3/2.0 (+1)	1,174 (+11%)	5mo	$171,500	$146	47
9821 E 9th St	0.61mi	3/1.0 (+1)	1,145 (+8%)	8mo	$144,900	$127	46

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 · 5.43% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.59×
• Total profit: $-16,250
• Equity at exit: $20,860

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $2,694
• Equity at exit: $12,096

Cash invested: $39,172 (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 64052

• Home prices YoY: -34.6%
• Rents YoY: 5.4%
• Active inventory: 135
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,151 high
• Mortgage (P&I): −$734
• Tax from tax record: −$61 /mo · $735/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $56

Break-even live

Break-even rent $1,080

Max offer price $139,900

Occupancy floor 90%

Sensitivity live

Price	-10% $136	-5% $96	+0% $56	+5% $17	+10% $-23
Rent	-10% $-35	-5% $11	+0% $56	+5% $102	+10% $147
Rate	-1.0pp $127	-0.5pp $92	base $56	+0.5pp $20	+1.0pp $-17

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1138 S Glenwood Ave Independence, MO	2.0	1.0	1180	$1,095	$0.93	21d	1	0.30mi
9528 E Winner Rd Independence, MO	1.0–3.0	1.0	730	$999	$1.37	45d	1	0.38mi
10119 E Winner Rd Unit 2 Independence, MO	1.0	1.0	1000	$1,045	$1.04	23d	1	0.51mi
1712 S Ash Ave Independence, MO	2.0	1.0	800	$945	$1.18	45d	1	0.57mi
1712 S Ash Ave Unit 1714-3 Independence, MO	2.0	1.0	700	$895	$1.28	25d	1	0.57mi
10104 E Golf Ave Independence, MO	3.0	2.0	1205	$1,395	$1.16	16d	1	0.65mi
2222 S Overton Ave Independence, MO	2.0	1.0	800	$1,025	$1.28	23d	1	0.73mi
600 S Glenwood Ave Unit I Independence, MO	1.0	1.0	700	$695	$0.99	45d	1	0.75mi
600 S Glenwood Ave Unit F Independence, MO	2.0	1.0	750	$995	$1.33	21d	1	0.75mi
10522 E 10th St S Independence, MO	2.0	1.0	1020	$1,099	$1.08	25d	1	0.82mi
10323 E 20th St S Independence, MO	3.0	1.0	936	$1,400	$1.50	45d	1	0.82mi
576 S Oxford Ave Independence, MO	3.0	2.0	1098	$1,400	$1.28	45d	1	0.84mi
10561 E Lake Dr Independence, MO	2.0	1.0	800	$1,000	$1.25	45d	1	0.88mi
1425 S Northern Blvd Independence, MO	3.0	1.5	1275	$1,200	$0.94	9d	1	0.90mi
1109 S Appleton Ave Independence, MO	3.0	2.0	1200	$1,195	$1.00	18d	1	0.92mi
10714 E 19th St S Independence, MO	2.0	1.0	1010	$895	$0.89	5d	1	0.93mi
2503 S Crescent Ave Independence, MO	2.0	2.0	864	$1,295	$1.50	18d	1	0.95mi
10817 E 19th Ter S Independence, MO	3.0	1.0	1428	$1,801	$1.26	18d	1	1.08mi
9613 E 25th Ter S Independence, MO	3.0	1.0	1214	$1,545	$1.27	25d	1	1.11mi
8705 E Smart Ave Independence, MO	2.0	1.0	750	$1,000	$1.33	45d	1	1.18mi
100 S Oxford Ave Independence, MO	3.0	2.0	1141	$1,425	$1.25	46d	1	1.26mi
2702 S Glenwood Ave Independence, MO	3.0	1.0	1056	$1,555	$1.47	25d	1	1.26mi
8661 E 26th St Kansas City, MO	2.0	1.0	1145	$1,295	$1.13	45d	1	1.30mi
2256 S Sterling Ave Independence, MO	3.0	1.5	1284	$1,399	$1.09	18d	1	1.33mi
1810 S Vermont Ave Independence, MO	2.0	1.0	950	$948	$1.00	45d	1	1.37mi
10604 E 26th St S Independence, MO	3.0	1.0	1068	$1,610	$1.51	9d	1	1.37mi

Listing history 8 events

1. 2026-06-21
   days on market $139,900 Active 12 DOM
2. 2026-06-18
   days on market $139,900 Active 9 DOM
3. 2026-06-17
   days on market $139,900 Active 8 DOM
4. 2026-06-16
   days on market $139,900 Active 7 DOM
5. 2026-06-15
   days on market $139,900 Active 6 DOM
6. 2026-06-13
   days on market $139,900 Active 4 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $139,900 Active 1 DOM

ⓘ 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: $735 · $61/mo
• Projected year-2 tax: $1,357 · $113/mo
• Expected delta: +$622/yr (+$52/mo · 84.6%)

ⓘ 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,816
• − Mortgage interest: −$7,837
• − Property taxes: −$735
• − Insurance: −$700
• − Repairs & maintenance: −$1,105
• − Management: −$1,105
• − Depreciation: −$4,070
• Taxable loss: −$1,736
• Est. tax savings @ 24.0%: +$417
• After-tax cash flow: $1,093/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): 22,138
• Household income: $59,007
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 965.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 62% Hispanic / Latino 23% Two or more races 15% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 12% Slovak 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 85% English-only · Spanish 13% 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: ▼ -160.06%
• Current HPI: 302.1124
• Rent YoY: ▲ 5.43%
• 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

+180.4% since first listed

6 events — show timeline

• 2026-06-09 Listed $139,900 Heartland MLS as Distributed by MLS Grid
• 2022-09-30 Sold (Public Records) $120,000 Public Records
• 2022-08-15 Sold (Public Records) — Public Records
• 2007-03-19 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2006-12-27 Listed $49,900 Heartland MLS as Distributed by MLS Grid
• 1997-05-22 Sold (Public Records) — Public Records

Property tax history

+2.7%/yr

Latest (2025): $735 · -55.2% YoY. Source: county tax records.