10549 E 46th St · Kansas City, MO 64133

$679,000

10 bd · 10.0 ba · 5,214 sqft · MultiFamily public records · 1 Days on market

Built 2007 0.25 ac lot $720/mo HOA · 44% of rent

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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 +11.6/30.0
• ARV discount +7.5/15.0
• 1% rule +4.4/10.0
• Livability +3.9/5.0
• DSCR +3.4/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Sold Before process

Key facts

• New hvac and a/c
• Fully occupied
• Strong rental income

Tags

• INCOME PRODUCING 4 PLEX
• HIGHLY DESIRABLE LOCATION
• WELL MAINTAINED PROPERTY
• FULLY OCCUPIED
• STRONG RENTAL INCOME
• NEW HVAC AND A/C

Property features AI

Finance

• Other: Lot size approximately 11,105 square feet
• Financial info: Gross income reported at $67,992; Operating expenses include real estate tax
• HOA & community: Homeowner association present; Association fee approximately $720; HOA provides exterior building and lawn maintenance

Exterior

• Parking: Attached garage available
• Utilities: City/public water (verify); Public sewer; Individual heat and air; Individual water heaters
• Home design: Residential income property (quadruplex); Two-story building; Approximately 16–20 years old
• Construction: Vinyl siding; Composition roof
• Exterior features: Building exterior and lawn maintenance provided by association; Not located in a flood plain

Interior

• Kitchen: No specific appliances listed
• Bedrooms: Units include 2-bedroom and 3-bedroom layouts; Some units are 4+ bedroom type listed in unit types
• Bathrooms: Units include full and half bathrooms (configurations vary by unit type)
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Individual heating and air systems for units; Individual water heaters
• Laundry & utility: Individual utility setups for each unit

What this means for you Summary

Snapshot

• This is a 2×3bd/2.5ba + 2×2bd/2.5ba units multifamily listed at $679k.

Deal economics

• At list price, monthly cash flow is $-215 ($-3k/yr) — negative. Per door: $-54/mo.
• To cash-flow at today's rent, offer at most $641k (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $639k (5.8% below list).
• Recommended offer: $639k (5.8% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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.
• Raytown C-2 (suburban): math 12% / reading 28% proficiency, ranked #302 of 324 in MO (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.3%/yr); 203 active listings in the ZIP; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $6,394/mo this rent would consume 113% of the median local household income ($68k/yr) (locally 1173% 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 $5k of loan paydown is wiped out by about $20k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $639,400 (5.8% 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. 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.94% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.36%
• DSCR: 0.94
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.34% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.30×
• Total profit: $-133,778
• Equity at exit: $101,241

10-year hold

• IRR: -18.4%
• Equity multiple: 0.08×
• Total profit: $-173,996
• Equity at exit: $58,708

Cash invested: $190,120 (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 64133

• Rents YoY: 1.3%
• Active inventory: 203
• Price-to-rent: 34.5×

Monthly cashflow live

• Estimated rent: $6,394 high
• Mortgage (P&I): −$3,561
• Tax from tax record: −$703 /mo · $8,431/yr
• Insurance: −$283
• HOA: −$720
• Vacancy / Maint / Mgmt: −$1,343
• Net cashflow: $-215

Break-even live

Break-even rent $6,666

Max offer price $641,018

Occupancy floor 98%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$3,280
▸ 2× units	2	2.5	$3,114
Total (4 units)			$6,394

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: $169,750
• Closing costs: $20,370
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $720 · $8,640/yr

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $679,000 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: $8,431 · $703/mo
• Projected year-2 tax: $8,431 · $703/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 2/10 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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $76,728
• − Mortgage interest: −$38,035
• − Property taxes: −$8,431
• − Insurance: −$3,395
• − Repairs & maintenance: −$6,138
• − Management: −$6,138
• − HOA: −$8,640
• − Depreciation: −$19,753
• Taxable loss: −$13,802
• Est. tax savings @ 24.0%: +$3,312
• After-tax cash flow: $732/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: Raytown C-2
• NCES district ID: 2926070
• Math proficiency: 12% ▼ -11.00%
• Reading proficiency: 28% ▼ -9.00%
• Median HH income: $47,215
• Composite: 17.59/100
• National rank: #9039
• State rank: #302 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): 36,249
• Household income: $67,750
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1173.0

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 0.64)
• Race & ethnicity: White 46% Black 37% Hispanic / Latino 12% Two or more races 9%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 7% Slovak 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 7% French/Haitian/Cajun 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: ▼ -155.40%
• Current HPI: 263.6915
• Rent YoY: ▲ 1.34%
• 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

+94.1% since first listed

9 events — show timeline

• 2026-06-17 Listed $679,000 Heartland MLS as Distributed by MLS Grid
• 2026-01-16 Rental Removed $1,495 SHOWMOJO
• 2025-12-04 Price Changed $1,495 SHOWMOJO
• 2025-10-24 Listed for Rent $1,525 SHOWMOJO
• 2018-05-04 Sold (Public Records) — Public Records
• 2018-05-01 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2018-02-21 Listed $349,900 Heartland MLS as Distributed by MLS Grid
• 2006-12-21 Sold (Public Records) — Public Records
• 2006-12-21 Sold (Public Records) — Public Records

Property tax history

+4.7%/yr

Latest (2025): $8,431 · +8.9% YoY. Source: county tax records.