3936 Highland Ave · Kansas City, MO 64110

$249,000

3 bd · 2.5 ba · 1,768 sqft · SingleFamily public records · 66 Days on market

Built 2007 6,945 sqft lot $141/sqft · at area comps Est $266k · 6% under

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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 +11.9/30.0
• ARV discount +10.3/15.0
• Livability +3.9/5.0
• DSCR +3.5/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 Bedroom, 2.5 Bath home built in 2007. Very good condition. * * THE INTERIOR PICTURES PROVIDED SHOW THE LAYOUT OF THE HOME * * This home is currently rented to a long-term tenant. This home has a finished Lower Level. One Car Garage. It has rear deck off the kitchen. The Roof is original (One Layer). Kitchen equipped with appliances. The HVAC and Water Heater are original. The kitchen and baths have vinyl flooring. The foyer and dining room have hardwood. All other rooms are carpeted. The washer and dryer hookups are located in lower level. Square footage listed is an approximate size. GREAT HOME FOR A HOMEOWNER OR AN INVESTMENT PROPERTY. The Seller is open to selling this property with 3937 Highland Ave. as a package deal for an investor. Please contact the listing agent for more details.

Key facts

• 6,945 sq ft lot
• Garage
• Built 2007

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $-65 ($-781/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (29.2% below list).
• Recommended offer: $176k (29.2% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.9% 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 78/100 on livability (#28 in MO, #2,671 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, crime F.
• Kansas City 33 (urban): math 12% / reading 24% proficiency, ranked #308 of 324 in MO (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+4.0%/yr); tight market (median 1 DOM); 125 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 34% of the median local income ($63k/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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 66 days — a 6% lower offer ($234k) is reasonable based on typical stale-listing flexibility.

Recommended offer $176,408 (29.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
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. 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: 0.71% ✗
• Cap rate: 5.98%
• Cash-on-cash: -1.12%
• DSCR: 0.95
• GRM: 11.8

CMA / ARV

• ARV (median comp): $265,601
• List price: $249,000
• Delta: -6.25%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3937 Highland Ave	0.03mi	4/2.5 (+1)	1,850 (+5%)	1mo	$282,500	$153	85
3905 Highland Ave	0.07mi	4/2.0 (+1)	1,700 (-4%)	2mo	$267,500	$157	81
3920 Paseo Blvd	0.19mi	4/1.5 (+1)	1,630 (-8%)	1mo	$190,000	$117	68
3915 Highland Ave	0.06mi	4/3.0 (+1)	2,000 (+13%)	2mo	$280,500	$140	67
4436 Tracy Ave	0.64mi	3/2.5	1,797 (+2%)	2mo	$429,900	$239	66
4214 Campbell St	0.65mi	3/2.0	1,756 (-1%)	2mo	$325,000	$185	65
4239 Tracy Ave	0.46mi	3/2.5	1,602 (-9%)	1mo	$425,000	$265	62
4102 Charlotte St	0.65mi	3/2.5	1,622 (-8%)	1mo	$189,000	$117	56
4423 Flora Ave	0.60mi	4/2.0 (+1)	1,636 (-8%)	1mo	$140,000	$86	52
4226 Charlotte St	0.72mi	3/1.5	1,876 (+6%)	1mo	$315,000	$168	52
4210 Montgall Ave	0.70mi	4/2.0 (+1)	1,682 (-5%)	1mo	$74,900	$45	51
3337 Flora Ave	0.75mi	3/2.0	1,600 (-10%)	2mo	$178,900	$112	45

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 · 3.95% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.38×
• Total profit: $-42,927
• Equity at exit: $37,127

10-year hold

• IRR: -8.0%
• Equity multiple: 0.48×
• Total profit: $-36,143
• Equity at exit: $21,529

Cash invested: $69,720 (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 64110

• Rents YoY: 4.0%
• Median DOM (111 sales): 1 d
• Active inventory: 125
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,764 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$49 /mo · $590/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $-65

Break-even live

Break-even rent $1,846

Max offer price $237,501

Occupancy floor 99%

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4211 Woodland Ave Kansas City, MO	4.0	2.5	1926	$2,010	$1.04	16d	1	0.31mi
4219 Woodland Ave Kansas City, MO	4.0	2.0	1566	$1,900	$1.21	1d	1	0.35mi
4014 Park Ave Kansas City, MO	3.0	2.0	1271	$1,273	$1.00	43d	1	0.36mi
4112 Park Ave Kansas City, MO	4.0	2.0	1700	$1,800	$1.06	14d	1	0.39mi
4117 Forest Ave Kansas City, MO	2.0	2.0	1300	$1,390	$1.07	23d	1	0.40mi
4232 Virginia Ave Unit 3 Kansas City, MO	3.0	1.0	1296	$1,100	$0.85	12d	1	0.42mi
4107 Olive St Kansas City, MO	3.0	1.5	1271	$1,578	$1.24	7d	1	0.47mi
3902 Wabash Ave Kansas City, MO	4.0	2.0	1400	$1,850	$1.32	43d	1	0.49mi
4018 Prospect Ave Kansas City, MO	4.0	1.5	1900	$1,695	$0.89	43d	1	0.54mi
4031 Campbell St Kansas City, MO	4.0	1.5	2074	$2,500	$1.21	16d	1	0.56mi
2002 E 35th St Kansas City, MO	3.0	2.0	1426	$1,295	$0.91	7d	1	0.66mi
2018 E 35th St Kansas City, MO	3.0	2.0	1502	$1,800	$1.20	2d	1	0.68mi
4511 Park Ave Kansas City, MO	4.0	2.5	1915	$1,982	$1.03	23d	1	0.76mi
3434 Olive St Kansas City, MO	3.0	2.0	2020	$1,445	$0.72	43d	1	0.78mi
4119 S Benton Ave Kansas City, MO	4.0	2.0	1700	$1,800	$1.06	43d	1	0.78mi
3817 S Benton Ave Kansas City, MO	4.0	1.5	1380	$1,650	$1.20	23d	1	0.78mi
1020 E Armour Blvd Kansas City, MO	2.0	1.0–2.0	865	$1,825	$2.11	16d	22	0.80mi
3840 Bellefontaine Ave Kansas City, MO	3.0	1.0	1500	$1,500	$1.00	16d	1	0.86mi
4116 Bellefontaine Ave Kansas City, MO	3.0	1.0	1234	$1,000	$0.81	23d	1	0.86mi
4610 Forest Ave Kansas City, MO	3.0	2.0	1365	$2,450	$1.79	43d	1	0.87mi
4614 Forest Ave Kansas City, MO	2.0	2.0	1265	$1,995	$1.58	16d	1	0.88mi
3630 Agnes Ave Kansas City, MO	3.0	2.0	1448	$1,500	$1.04	10d	1	0.89mi
4138 Locust St Kansas City, MO	4.0	2.0	1763	$2,600	$1.47	7d	1	0.93mi
404 E 41st St Kansas City, MO	4.0	3.0	1711	$2,650	$1.55	19d	1	0.93mi
3434 Chestnut Ave Kansas City, MO	2.0	1.0	1512	$1,100	$0.73	10d	1	0.93mi
3524 Bellefontaine Ave Kansas City, MO	3.0	1.0	1228	$1,350	$1.10	43d	1	1.01mi
4333 Oak St Kansas City, MO	2.0	2.0	1250	$1,295	$1.04	43d	1	1.02mi
2120 Linwood Blvd Kansas City, MO	3.0	1.0	1326	$1,400	$1.06	43d	1	1.05mi
520 E Armour Blvd Kansas City, MO	3.0	1.0–2.0	882	$2,630	$2.98	1d	22	1.06mi
3346 Agnes Ave Kansas City, MO	3.0	1.0	1400	$1,200	$0.86	7d	1	1.09mi
3830 Warwick Blvd Unit 1S Kansas City, MO	3.0	2.0	1500	$1,600	$1.07	14d	1	1.10mi
3333 Gillham Rd Kansas City, MO	4.0	2.0	1500	$2,000	$1.33	14d	1	1.12mi
3739 Bales Ave Kansas City, MO	3.0	2.0	1400	$1,575	$1.12	23d	1	1.16mi
301 E Armour Blvd Kansas City, MO	2.0	1.0–2.0	1023	$2,050	$2.00	1d	9	1.16mi
301 E Armour Blvd Kansas City, MO	2.0	1.0–2.0	1023	$2,105	$2.06	43d	8	1.16mi
4116 Walnut St Kansas City, MO	2.0	2.0	1367	$1,950	$1.43	43d	1	1.18mi
3419 College Ave Kansas City, MO	4.0	1.0	1608	$1,300	$0.81	1d	1	1.22mi
3009 Garfield Ave Kansas City, MO	3.0	1.5	1334	$1,425	$1.07	43d	1	1.24mi
4111 Broadway Blvd Kansas City, MO	2.0	1.0–2.0	881	$2,090	$2.37	1d	38	1.34mi
3713 Cleveland Ave Kansas City, MO	4.0	1.0	1256	$1,250	$1.00	16d	1	1.35mi

Listing history 4 events

1. 2026-05-31
   status $249,000 Pending 66 DOM
2. 2026-03-25
   listed $249,000 Active 804-char remark

   Show marketing remark (804 chars)

   4 Bedroom, 2.5 Bath home built in 2007. Very good condition. * * THE INTERIOR PICTURES PROVIDED SHOW THE LAYOUT OF THE HOME * * This home is currently rented to a long-term tenant. This home has a finished Lower Level. One Car Garage. It has rear deck off the kitchen. The Roof is original (One Layer). Kitchen equipped with appliances. The HVAC and Water Heater are original. The kitchen and baths have vinyl flooring. The foyer and dining room have hardwood. All other rooms are carpeted. The washer and dryer hookups are located in lower level. Square footage listed is an approximate size. GREAT HOME FOR A HOMEOWNER OR AN INVESTMENT PROPERTY. The Seller is open to selling this property with 3937 Highland Ave. as a package deal for an investor. Please contact the listing agent for more details.

3. 2002-06-25
   soldstatus
4. 1980-01-01
   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: $590 · $49/mo
• Projected year-2 tax: $2,415 · $201/mo
• Expected delta: +$1,825/yr (+$152/mo · 309.2%)

ⓘ 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 · 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: $21,169
• − Mortgage interest: −$13,948
• − Property taxes: −$590
• − Insurance: −$1,245
• − Repairs & maintenance: −$1,694
• − Management: −$1,694
• − Depreciation: −$7,244
• Taxable loss: −$5,245
• Est. tax savings @ 24.0%: +$1,259
• After-tax cash flow: $478/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 33
• NCES district ID: 2916400
• Math proficiency: 12% ▼ -8.00%
• Reading proficiency: 24% ▬ 0.00%
• Median HH income: $35,227
• Composite: 14.8/100
• National rank: #9387
• State rank: #308 of 324 in MO

Livability — Kansas City

• Score: 78/100
• State rank: #28
• US rank: #2671

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kansas City, MO
• County: Jackson County · 687,798 people
• City population: 439,467
• Metro: Kansas City, MO-KS
• Population (ZIP): 16,878
• Household income: $63,044
• Rent vs Own: 52.2% rent · 47.8% own
• Severe rent burden: 962.0

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 0.63)
• Race & ethnicity: White 49% Black 34% Two or more races 10% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -514.37%
• Current HPI: 371.8501
• Rent YoY: ▲ 3.95%
• 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

3 events — show timeline

• 2026-03-25 Listed $249,000 Heartland MLS as Distributed by MLS Grid
• 2002-06-25 Sold (Public Records) — Public Records
• 1980-01-01 Sold (Public Records) — Public Records

Property tax history

+33.8%/yr

Latest (2025): $590 · -87.5% YoY. Source: county tax records.