2414 NE Pursell Rd · Gladstone, MO 64118

$165,000

3 bd · 1.0 ba · 1,050 sqft · SingleFamily public records · 3 Days on market

Built 1952 0.32 ac lot Est $225k · 27% under

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Why this score? — see what drove the C+ 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 +22.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +5.3/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MULTIPLE OFFERS! BEST AND FINAL BY SUNDAY 10 AM TENANT OCCUPIED, TENT IS MONTH TO MONTH BUT WOULD LIKE TO STAY, TENANT HAS BEEN THEIR 5 YEARS. THE CURRENT RENT IS $820/MONTH

Key facts

• 0.32 acre lot
• Built 1952
• Listed 2 days

Tags

• EASY ACCESS TO SHOPPING
• EASY ACCESS TO RESTAURANTS
• EASY ACCESS TO MAJOR HIGHWAYS

Property features AI

Finance

• Financial info: Annual tax amount available (not included per instructions)
• HOA & community: No maintenance provided

Exterior

• Parking: Off-street parking; Other parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Ranch style
• Construction: Vinyl siding; Composition roof; Built approximately 51–75 years ago
• Exterior features: Deck; Metal fencing; Lot approximately 13,939 square feet; Not in a flood plain

Interior

• Kitchen: Kitchen with dining combo
• Bedrooms: 3 bedrooms
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Electric cooling (has cooling)
• Interior features: Carpet flooring; Ranch floor plan; Slab basement
• Laundry & utility: Laundry located off the kitchen

🏷️ Possibly a rental listed for sale. The $165,000 price doesn't fit this home's estimated sale value (~$224,700) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 8.4% 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 (+3.2%/yr); 185 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 341 units permitted in Clay County in 2024 (40 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 $5k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 20y ago; this cycle's ask is 10% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,000

Questions for the listing agent

1. Built in 1952 — 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. 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.
4. 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.
5. 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: 1.03% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.36%
• DSCR: 1.33
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $224,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2415 Pursell Rd	0.02mi	3/1.0	925 (-12%)	1mo	$195,000	$211	78
2208 NE 56th Ter	0.16mi	2/1.0 (-1)	1,146 (+9%)	1mo	$219,900	$192	71
5818 N Garfield Ave	0.42mi	3/1.0	977 (-7%)	2mo	$220,000	$225	67
5546 N Woodland Ave	0.42mi	3/1.0	960 (-9%)	0mo	$135,000	$141	66
5545 N Woodland Ave	0.39mi	3/2.0	1,127 (+7%)	2mo	$245,000	$217	64
2403 NE 61st Ter	0.62mi	3/2.0	1,076 (+2%)	1mo	$229,950	$214	63
1601 55th Ter	0.50mi	3/1.0	1,143 (+9%)	1mo	$225,000	$197	61
6201 N Howard Ave	0.72mi	3/1.0	1,030 (-2%)	3mo	$230,000	$223	61
5304 N Bales Ave	0.75mi	3/1.0	1,032 (-2%)	4mo	$179,900	$174	59
5217 N Walrond Ave	0.72mi	2/1.0 (-1)	1,095 (+4%)	1mo	$240,000	$219	54
5709 N Woodland Ave	0.44mi	3/1.0	1,200 (+14%)	2mo	$199,999	$167	54
5109 N Garfield Ave	0.69mi	3/2.0	960 (-9%)	3mo	$230,000	$240	47

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 · 3.2% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-8,357
• Equity at exit: $24,602

10-year hold

• IRR: 5.0%
• Equity multiple: 1.37×
• Total profit: $17,305
• Equity at exit: $14,266

Cash invested: $46,200 (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 64118

• Rents YoY: 3.2%
• Active inventory: 185
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,705 high
• Mortgage (P&I): −$865
• Tax from tax record: −$130 /mo · $1,554/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $284

Break-even live

Break-even rent $1,346

Max offer price $165,000

Occupancy floor 78%

Sensitivity live

Price	-10% $377	-5% $330	+0% $284	+5% $237	+10% $190
Rent	-10% $149	-5% $216	+0% $284	+5% $351	+10% $418
Rate	-1.0pp $367	-0.5pp $325	base $284	+0.5pp $241	+1.0pp $197

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2813 A NE Kendallwood Pkwy Gladstone, MO	1.0–3.0	1.0–2.5	1079	$1,895	$1.76	44d	1	0.31mi
2307 NE 59th St Kansas City, MO	3.0	1.0	1150	$1,710	$1.49	22d	1	0.32mi
5322 N Bales Ave Kansas City, MO	3.0	1.0	912	$1,495	$1.64	24d	1	0.70mi
6011 N Forest Ave Kansas City, MO	3.0	1.0	986	$1,595	$1.62	8d	1	1.07mi
3207 NE 48th Ter Kansas City, MO	3.0	2.0	1384	$1,800	$1.30	44d	1	1.11mi
4763 N Highland Ave Kansas City, MO	1.0–2.0	1.0	950	$1,195	$1.26	3d	13	1.16mi
900 NE 62nd St Kansas City, MO	4.0	2.0	1317	$1,916	$1.45	24d	1	1.26mi
2483 NE 68th St Kansas City, MO	2.0	2.0	928	$1,325	$1.43	5d	1	1.48mi

Listing history 7 events

1. 2026-06-21
   status $165,000 Active 3 DOM
2. 2026-06-19
   remarks 448-char remark
3. 2026-06-18
   days on market $165,000 Coming Soon 3 DOM
4. 2026-06-17
   remarks 435-char remark
5. 2026-06-17
   days on market $165,000 Coming Soon 2 DOM
6. 2026-06-16
   remarks 298-char remark
7. 2026-06-16
   listed $165,000 Coming Soon 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: $1,554 · $130/mo
• Projected year-2 tax: $1,600 · $133/mo
• Expected delta: +$46/yr (+$4/mo · 3.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $20,462
• − Mortgage interest: −$9,243
• − Property taxes: −$1,554
• − Insurance: −$825
• − Repairs & maintenance: −$1,637
• − Management: −$1,637
• − Depreciation: −$4,800
• Taxable income: $766
• Est. tax owed @ 24.0%: −$184
• After-tax cash flow: $3,218/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): 41,984
• Household income: $74,740
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1629.0

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 (72%)
• Race & ethnicity: White 72% Black 10% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 4% Arabic 1% Other Asian/Pacific 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: ▼ -250.16%
• Current HPI: 240.9626
• Rent YoY: ▲ 3.20%
• 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

+146.3% since first listed

21 events — show timeline

• 2026-06-15 Coming Soon $165,000 Heartland MLS as Distributed by MLS Grid
• 2024-10-15 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-09-27 Relisted — Heartland MLS as Distributed by MLS Grid
• 2024-09-15 Pending — Heartland MLS as Distributed by MLS Grid
• 2024-09-12 Relisted — Heartland MLS as Distributed by MLS Grid
• 2024-09-08 Pending — Heartland MLS as Distributed by MLS Grid
• 2024-09-03 Listed $149,500 Heartland MLS as Distributed by MLS Grid
• 2021-08-30 Sold (Public Records) — Public Records
• 2021-08-30 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2021-08-16 Pending — Heartland MLS as Distributed by MLS Grid
• 2021-08-12 Listed $100,000 Heartland MLS as Distributed by MLS Grid
• 2016-08-31 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2016-08-22 Listed $61,700 Heartland MLS as Distributed by MLS Grid
• 2014-08-11 Sold (Public Records) — Public Records
• 2013-07-12 Sold (Public Records) — Public Records
• 2013-06-27 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2013-06-20 Sold (Public Records) — Public Records
• 2013-05-15 Listed $47,000 Heartland MLS as Distributed by MLS Grid
• 2006-06-27 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2006-06-23 Sold (Public Records) — Public Records
• 2006-04-11 Listed $67,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2025): $1,554 · +11.7% YoY. Source: county tax records.