1005 SW 23rd St · Blue Springs, MO 64015

$242,500

3 bd · 2.0 ba · 1,519 sqft · SingleFamily public records · 9 Days on market

Built 1975 0.32 ac lot $160/sqft · 45% above area Est $326k · 26% 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).

• ARV discount +15.0/15.0
• Cash flow +8.1/30.0
• Schools +5.1/10.0
• Livability +4.1/5.0
• Rent growth +2.8/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious home for family and entertaining. Raised ranch first floor family room with fire place with access to deck. Eat in Kitchen and formal dining. Full bath, 3/4 bath in primary bed room. half bath in finished basement, possible 4th bed room or office etc. large rec rm walks out to covered patio. Nice yard for possible garden. This property is owned by the Secretary Of Veterans Affairs & is a Foreclosure "Selling AS IS" Inspections are for buyer's knowledge only. Foreclosures have no Seller's Disclosure.

Key facts

• Formal dining
• Fire place
• Large rec rm

Tags

• FIRE PLACE
• ACCESS TO DECK
• EAT IN KITCHEN
• FORMAL DINING
• FINISHED BASEMENT
• LARGE REC RM

Property features AI

Finance

• Other: Living area approximately 2,971 total (above and below grade reported separately); Above-grade finished area reported as 1,519 (public records); Below-grade finished area reported as 1,452 (public records); Not in a flood plain

Exterior

• Parking: Attached garage facing front; 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Raised ranch floor plan; Residential property
• Construction: Wood siding; Composition roof
• Exterior features: Deck; Covered patio; Metal fencing; Located on a cul-de-sac; Paved public road access

Interior

• Kitchen: Granite counters; Dishwasher; Disposal; Electric range; Vinyl in kitchen
• Bedrooms: 3 bedrooms (main level)
• Flooring: Carpet; Luxury vinyl; Tile / ceramic
• Bathrooms: 2 full bathrooms; 1 half bathroom; Main-level shower-only bathroom with ceramic tile
• Heating & cooling: Natural gas heating; Electric cooling (central)
• Interior features: Ceiling fans; Vaulted ceilings; Finished full walk-out basement; Fireplaces in family room and recreation room (2 total)
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $242k.

Deal economics

• At list price, monthly cash flow is $-242 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (17.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (24.8% below list).
• Recommended offer: $182k (24.8% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 3.2% in Blue Springs — 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 (#11 in MO, #1,297 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Blue Springs R-IV (suburban): math 55% / reading 60% proficiency, ranked #17 of 324 in MO (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Franklin Smith Elem. (math 59% / reading 55%, grade C+, #159 of 1,115 statewide, top 16%, 411 students, 43% FRL); Moreland Ridge Middle (math 51% / reading 55%, grade C+, #51 of 391 statewide, top 13%, 1,071 students, 31% FRL); Blue Springs South High (math 43% / reading 72%, grade C, #49 of 521 statewide, top 9%, 2,261 students, 22% FRL).
• Market conditions: Rents rising (+1.0%/yr); 142 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 27y 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 $182,443 (24.8% 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. Built in 1975 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
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 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: 0.75% ✗
• Cap rate: 5.10%
• Cash-on-cash: -4.27%
• DSCR: 0.81
• GRM: 11.1

CMA / ARV

• ARV (median comp): $326,138
• List price: $242,500
• Delta: -25.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1116 24th Street Ct	0.06mi	3/2.0	1,343 (-12%)	12mo	$265,000	$197	68
1308 SW 20th St	0.33mi	3/2.0	1,660 (+9%)	10mo	$275,000	$166	61
1109 SW 14th St. Ter	0.59mi	3/2.0	1,550 (+2%)	11mo	$230,000	$148	60
920 SW 14th Street Ter	0.63mi	3/2.0	1,615 (+6%)	2mo	$275,000	$170	58
705 31st Ct	0.61mi	4/2.0 (+1)	1,550 (+2%)	11mo	$295,000	$190	54
801 SW 29th St	0.46mi	3/2.5	1,738 (+14%)	2mo	$300,000	$173	50
404 SW 21st St	0.64mi	3/2.0	1,360 (-10%)	4mo	$255,000	$188	49
701 SW 16th St	0.67mi	3/2.0	1,330 (-12%)	0mo	$250,000	$188	48
502 SW 24th St	0.58mi	3/1.5	1,388 (-9%)	16mo	$295,000	$213	43
3109 Jackson St SW	0.52mi	3/2.0	1,320 (-13%)	14mo	$248,500	$188	42
701 17th St	0.63mi	3/2.0	1,312 (-14%)	8mo	$215,000	$164	42
915 SW 16th St	0.49mi	4/2.0 (+1)	1,724 (+14%)	12mo	$290,000	$168	40

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 · 1.01% rent growth · sell at horizon

5-year hold

• IRR: -25.8%
• Equity multiple: 0.14×
• Total profit: $-58,249
• Equity at exit: $36,158

10-year hold

• IRR: -30.1%
• Equity multiple: -0.25×
• Total profit: $-84,549
• Equity at exit: $20,967

Cash invested: $67,900 (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 64015

• Rents YoY: 1.0%
• Active inventory: 142
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,824 high
• Mortgage (P&I): −$1,272
• Tax from tax record: −$310 /mo · $3,725/yr
• Insurance: −$101
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $-242

Break-even live

Break-even rent $2,131

Max offer price $199,777

Occupancy floor —

Sensitivity live

Price	-10% $-105	-5% $-173	+0% $-242	+5% $-310	+10% $-379
Rent	-10% $-386	-5% $-314	+0% $-242	+5% $-170	+10% $-98
Rate	-1.0pp $-120	-0.5pp $-180	base $-242	+0.5pp $-305	+1.0pp $-369

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: $60,625
• Closing costs: $7,275
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
403 SW 15th St Blue Springs, MO	3.0	2.0	1500	$1,845	$1.23	12d	1	0.87mi
1707 SW Walnut St Blue Springs, MO	4.0	2.0	1800	$2,600	$1.44	19d	1	0.88mi
3611 SW McDanial Ave Blue Springs, MO	2.0	1.5	1280	$1,295	$1.01	25d	1	0.91mi
212 NW 27th Street Ct Blue Springs, MO	2.0	1.0	1080	$1,325	$1.23	45d	1	1.08mi
2101 SW 8th St Unit d Blue Springs, MO	2.0	1.0	1051	$1,095	$1.04	9d	1	1.13mi
7901 South Highway 7 Blue Springs, MO	3.0	2.0	1172	$1,997	$1.70	3d	11	1.20mi
321 NW 22nd Street Ter Blue Springs, MO	4.0	2.5	1440	$2,500	$1.74	9d	1	1.24mi
132 SW 8th St Unit 132 8th Blue Springs, MO	3.0	2.5	1350	$1,795	$1.33	45d	1	1.31mi
700 NW Oxford Dr Blue Springs, MO	4.0	2.0	1614	$1,996	$1.24	45d	1	1.37mi
509 SW 5th St Blue Springs, MO	3.0	2.5	1370	$1,475	$1.08	9d	1	1.42mi
503 SW 4th St Blue Springs, MO	3.0	2.0	1400	$1,395	$1.00	45d	1	1.47mi

Listing history 26 events

1. 2026-05-13
   listed $242,500 Active 529-char remark
2. 2026-04-06
   historical
3. 2026-04-03
   price $260,000
4. 2026-03-16
   status Active
5. 2026-03-12
   status Pending
6. 2026-01-15
   listed $284,900 Active
7. 2025-12-31
   historical
8. 2025-12-14
   price $299,000
9. 2025-11-29
   listed $310,000 Active
10. 2025-11-28
    historical
11. 2025-10-10
    price $300,000
12. 2025-08-25
    price $305,000
13. 2025-08-07
    price $315,000
14. 2025-07-18
    listed $325,000 Active
15. 2022-05-05
    soldstatus
16. 2022-05-04
    soldstatus Closed
17. 2022-04-02
    status Pending
18. 2022-03-30
    listed $255,000 Active
19. 2020-10-05
    soldstatus
20. 2020-10-02
    soldstatus Closed
21. 2020-08-29
    status Pending
22. 2020-08-26
    listed $214,900 Active
23. 2020-06-02
    soldstatus
24. 1999-12-01
    soldstatus
25. 1999-11-29
    soldstatus
26. 1999-07-18
    listed $109,950

ⓘ 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: $3,725 · $310/mo
• Projected year-2 tax: $3,725 · $310/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,893
• − Mortgage interest: −$13,584
• − Property taxes: −$3,725
• − Insurance: −$1,212
• − Repairs & maintenance: −$1,751
• − Management: −$1,751
• − Depreciation: −$7,055
• Taxable loss: −$7,185
• Est. tax savings @ 24.0%: +$1,725
• After-tax cash flow: $-1,178/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: Blue Springs R-IV
• NCES district ID: 2905310
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 60% ▼ -6.00%
• Median HH income: $67,959
• Composite: 50.71/100
• National rank: #1819
• State rank: #17 of 324 in MO

Livability — Blue Springs

• Score: 82/100
• State rank: #11
• US rank: #1297

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blue Springs, MO
• County: Jackson County · 687,798 people
• City population: 61,033
• Metro: Kansas City, MO-KS
• Population (ZIP): 32,245
• Household income: $84,518
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 555.0

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: Predominantly White (80%)
• Race & ethnicity: White 80% Black 7% Two or more races 7% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 11% Slovak 3% Lithuanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -199.47%
• Current HPI: 232.221
• Rent YoY: ▲ 1.01%
• 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

+120.6% since first listed

28 events — show timeline

• 2026-05-23 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-15 Sold (Public Records) — Public Records
• 2026-05-13 Listed $242,500 Heartland MLS as Distributed by MLS Grid
• 2026-04-06 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-04-03 Price Changed $260,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-16 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-03-12 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-01-15 Listed $284,900 Heartland MLS as Distributed by MLS Grid
• 2025-12-31 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-12-14 Price Changed $299,000 Heartland MLS as Distributed by MLS Grid
• 2025-11-29 Listed $310,000 Heartland MLS as Distributed by MLS Grid
• 2025-11-28 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-10-10 Price Changed $300,000 Heartland MLS as Distributed by MLS Grid
• 2025-08-25 Price Changed $305,000 Heartland MLS as Distributed by MLS Grid
• 2025-08-07 Price Changed $315,000 Heartland MLS as Distributed by MLS Grid
• 2025-07-18 Listed $325,000 Heartland MLS as Distributed by MLS Grid
• 2022-05-05 Sold (Public Records) — Public Records
• 2022-05-04 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2022-04-02 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-03-30 Listed $255,000 Heartland MLS as Distributed by MLS Grid
• 2020-10-05 Sold (Public Records) — Public Records
• 2020-10-02 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2020-08-29 Pending — Heartland MLS as Distributed by MLS Grid
• 2020-08-26 Listed $214,900 Heartland MLS as Distributed by MLS Grid
• 2020-06-02 Sold (Public Records) — Public Records
• 1999-12-01 Sold (Public Records) — Public Records
• 1999-11-29 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 1999-07-18 Listed $109,950 Heartland MLS as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2025): $3,725 · -2.5% YoY. Source: county tax records.