3520 NE 72nd St · Gladstone, MO 64119

$345,000

2 bd · 2.0 ba · 1,568 sqft · MultiFamily public records · 57 Days on market

Built 1965 9,583 sqft lot Est $355k · at est.

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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 +27.6/30.0
• DSCR +9.7/10.0
• ARV discount +8.8/15.0
• 1% rule +6.9/10.0
• Rent growth +4.0/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This duplex presents a great investment opportunity for those looking to renovate and generate rental income. Located in the Gladstone area, this multifamily property offers strong potential for the right buyer. One side (3520) of the duplex features an updated 2 bedrooms and 1 bathroom, along with a spacious kitchen and living area. Wood flooring runs throughout, and large windows provide plenty of natural light. The other side (3522) of the duplex offers a 3 bedroom layout and has some updating already done, giving you the chance to add value and maximize rental potential. This unit also includes a basement, partially finished on one side, and a garage for added convenience. Whether you are looking to house hack or expand your investment portfolio, this property is a solid opportunity with room to grow. 3520 is currently rented with 6 months left on lease. 3522 is vacant and available for occupancy.

Key facts

• 9,583 sq ft lot
• Garage
• Built 1965

What this means for you Summary

Snapshot

• This is a 1×5bd/1ba + 1×5bd/?ba units multifamily listed at $345k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $518/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $345k).
• Recommended offer: $335k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 4.5% in Gladstone — 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 76/100 on livability (#44 in MO, #3,612 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• North Kansas City 74 (urban): math 38% / reading 49% proficiency, ranked #98 of 324 in MO (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.1%/yr); 183 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 341 units permitted in Clay County in 2024 (40 in 5+ unit buildings).
• At $4,100/mo this rent would consume 59% of the median local household income ($84k/yr) (locally 603% 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 $10k of value loss. Plan a longer hold.
• Clay County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $97k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($335k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.

Recommended offer $334,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.86%
• DSCR: 1.57
• GRM: 7.0

CMA / ARV

• ARV (median comp): $355,144
• List price: $345,000
• Delta: -2.86%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.09% rent growth · sell at horizon

5-year hold

• IRR: 6.0%
• Equity multiple: 1.24×
• Total profit: $23,136
• Equity at exit: $51,441

10-year hold

• IRR: 17.8%
• Equity multiple: 2.68×
• Total profit: $162,326
• Equity at exit: $29,829

Cash invested: $96,600 (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 64119

• Rents YoY: 6.1%
• Active inventory: 183
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $4,100 medium
• Mortgage (P&I): −$1,809
• Tax from tax record: −$251 /mo · $3,007/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$861
• Net cashflow: $1,035

Break-even live

Break-even rent $2,789

Max offer price $345,000

Occupancy floor 70%

Sensitivity live

Price	-10% $1,231	-5% $1,133	+0% $1,035	+5% $938	+10% $840
Rent	-10% $712	-5% $874	+0% $1,035	+5% $1,197	+10% $1,359
Rate	-1.0pp $1,209	-0.5pp $1,123	base $1,035	+0.5pp $946	+1.0pp $855

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	5	1	$2,050
1× unit	5	—	$2,050
Total (2 units)			$4,100

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7670 N Euclid Ave Unit 77-1930 Gladstone, MO	2.0	1.5	1250	$1,450	$1.16	22d	1	1.19mi
7670 N Euclid Ave Gladstone, MO	2.0	1.0–1.5	975	$1,185	$1.22	17d	3	1.19mi
8127 N Lawn Ave Kansas City, MO	3.0	3.0	1500	$2,100	$1.40	44d	1	1.36mi
1403 NE 67th Pl Kansas City, MO	3.0	1.0	1132	$1,626	$1.44	5d	1	1.48mi

Listing history 25 events

1. 2026-06-21
   days on market $345,000 Active 57 DOM
2. 2026-06-18
   days on market $345,000 Active 54 DOM
3. 2026-06-17
   days on market $345,000 Active 53 DOM
4. 2026-06-16
   days on market $345,000 Active 52 DOM
5. 2026-06-15
   days on market $345,000 Active 51 DOM
6. 2026-06-13
   days on market $345,000 Active 49 DOM
7. 2026-06-13
   days on market $345,000 Active 48 DOM
8. 2026-06-09
   days on market $345,000 Active 45 DOM
9. 2026-06-08
   days on market $345,000 Active 44 DOM
10. 2026-06-07
    days on market $345,000 Active 43 DOM
11. 2026-06-05
    days on market $345,000 Active 40 DOM
12. 2026-06-03
    days on market $345,000 Active 39 DOM
13. 2026-06-02
    days on market $345,000 Active 38 DOM
14. 2026-06-01
    days on market $345,000 Active 37 DOM
15. 2026-05-31
    days on market $345,000 Active 36 DOM
16. 2026-05-11
    status Active 914-char remark

    Show marketing remark (914 chars)

    This duplex presents a great investment opportunity for those looking to renovate and generate rental income. Located in the Gladstone area, this multifamily property offers strong potential for the right buyer. One side (3520) of the duplex features an updated 2 bedrooms and 1 bathroom, along with a spacious kitchen and living area. Wood flooring runs throughout, and large windows provide plenty of natural light. The other side (3522) of the duplex offers a 3 bedroom layout and has some updating already done, giving you the chance to add value and maximize rental potential. This unit also includes a basement, partially finished on one side, and a garage for added convenience. Whether you are looking to house hack or expand your investment portfolio, this property is a solid opportunity with room to grow. 3520 is currently rented with 6 months left on lease. 3522 is vacant and available for occupancy.

17. 2026-04-30
    status Pending 914-char remark

    Show marketing remark (914 chars)

    This duplex presents a great investment opportunity for those looking to renovate and generate rental income. Located in the Gladstone area, this multifamily property offers strong potential for the right buyer. One side (3520) of the duplex features an updated 2 bedrooms and 1 bathroom, along with a spacious kitchen and living area. Wood flooring runs throughout, and large windows provide plenty of natural light. The other side (3522) of the duplex offers a 3 bedroom layout and has some updating already done, giving you the chance to add value and maximize rental potential. This unit also includes a basement, partially finished on one side, and a garage for added convenience. Whether you are looking to house hack or expand your investment portfolio, this property is a solid opportunity with room to grow. 3520 is currently rented with 6 months left on lease. 3522 is vacant and available for occupancy.

18. 2026-04-14
    listed $355,000 Active 914-char remark

    Show marketing remark (914 chars)

    This duplex presents a great investment opportunity for those looking to renovate and generate rental income. Located in the Gladstone area, this multifamily property offers strong potential for the right buyer. One side (3520) of the duplex features an updated 2 bedrooms and 1 bathroom, along with a spacious kitchen and living area. Wood flooring runs throughout, and large windows provide plenty of natural light. The other side (3522) of the duplex offers a 3 bedroom layout and has some updating already done, giving you the chance to add value and maximize rental potential. This unit also includes a basement, partially finished on one side, and a garage for added convenience. Whether you are looking to house hack or expand your investment portfolio, this property is a solid opportunity with room to grow. 3520 is currently rented with 6 months left on lease. 3522 is vacant and available for occupancy.

19. 2022-04-21
    soldstatus Closed 51-char remark

    Show marketing remark (51 chars)

    Adorable duplex in a great location in Kansas City!

20. 2022-04-21
    soldstatus

    Show marketing remark (51 chars)

    Adorable duplex in a great location in Kansas City!

21. 2022-03-14
    status Pending 51-char remark

    Show marketing remark (51 chars)

    Adorable duplex in a great location in Kansas City!

22. 2022-03-14
    listed $275,000 Active 51-char remark

    Show marketing remark (51 chars)

    Adorable duplex in a great location in Kansas City!

23. 2022-03-11
    listed $275,000
24. 2022-03-11
    historical
25. 2022-03-11
    historical

ⓘ 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: $3,007 · $251/mo
• Projected year-2 tax: $3,346 · $279/mo
• Expected delta: +$340/yr (+$28/mo · 11.3%)

ⓘ 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 3/10 Moderate
• 🌡 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,200
• − Mortgage interest: −$19,325
• − Property taxes: −$3,007
• − Insurance: −$1,725
• − Repairs & maintenance: −$3,936
• − Management: −$3,936
• − Depreciation: −$10,036
• Taxable income: $7,234
• Est. tax owed @ 24.0%: −$1,736
• After-tax cash flow: $10,689/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: North Kansas City 74
• NCES district ID: 2922800
• Math proficiency: 38% ▼ -11.00%
• Reading proficiency: 49% ▼ -3.00%
• Median HH income: $55,444
• Composite: 37.88/100
• National rank: #4321
• State rank: #98 of 324 in MO

Livability — Gladstone

• Score: 76/100
• State rank: #44
• US rank: #3612

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gladstone, MO
• County: Clay County · 220,651 people
• City population: 41,984
• Metro: Kansas City, MO-KS
• Population (ZIP): 33,199
• Household income: $83,929
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 603.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 266,022 people
• By 2030: 280,057 · +5.3%
• By 2040: 306,153 · +15.1%
• By 2050: 328,630 · +23.5%
• By 2075: 375,182 · +41.0%
• By 2100: 392,861 · +47.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 8% Two or more races 8% Black 7% Asian 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 2% Italian 2% Slovak 2%
• Foreign-born: 7% · Canada, Vietnam, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Clay

• 2024 margin: Lean R (+5.6) · D 46.4% · R 52.0% · Other 1.6%
• 2008→2024 swing: -4.9pp toward R · 2008: -0.7pp · 2024: -5.6pp
• All cycles: 2024: R+5.6 2020: R+4.1 2016: R+11.1 2012: R+8.4 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -253.39%
• Current HPI: 215.8366
• Rent YoY: ▲ 6.09%
• 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

+29.1% since first listed

10 events — show timeline

• 2026-05-11 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-04-30 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-14 Listed $355,000 Heartland MLS as Distributed by MLS Grid
• 2022-04-21 Sold (Public Records) — Public Records
• 2022-04-21 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2022-03-14 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-03-14 Listed $275,000 Heartland MLS as Distributed by MLS Grid
• 2022-03-11 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2022-03-11 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2022-03-11 Listed $275,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+5.0%/yr

Latest (2025): $3,007 · +8.1% YoY. Source: county tax records.