1601-1603 SW Sunset St · Blue Springs, MO 64015

$379,000

4 bd · 3.0 ba · 2,600 sqft · MultiFamily public records · 46 Days on market

Built 1972 10,117 sqft lot Est $381k · at est.

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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 +18.7/30.0
• ARV discount +7.8/15.0
• DSCR +5.9/10.0
• Schools +5.1/10.0
• 1% rule +4.4/10.0
• Livability +4.1/5.0
• Rent growth +2.8/5.0
• 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

Calling all savvy rental property investors! This charming duplex offers two spacious 3 Bed/1.5 Bath units with excellent natural light. The roof was replaced in 2021 and windows in 2020. Both units are currently occupied at $1,200/month and $1,400/month (market rents ~$1,595). The well-kept units have clean classic finishes, featuring finished basements and attached 2-car garages. Future cosmetic renovations will bring corresponding rental income upside. Located in family-friendly Blue Springs near Blue Springs School District schools (Blue Springs High, James Lewis Elementary), St. Mary's Medical Center, convenient I-70/I-470 access, Lake Jacomo, Fleming Park, and Burr Oak Woods Conservat

Key facts

• Finished basements
• Lake jacomo
• I-70/i-470 access

Tags

• FINISHED BASEMENTS
• ATTACHED 2-CAR GARAGES
• I-70/I-470 ACCESS
• LAKE JACOMO

Property features AI

Finance

• Financial info: Gross income reported at $38,280; Operating expenses include real estate tax
• HOA & community: No association fees

Exterior

• Parking: Attached garage
• Utilities: Public water; Public sewer; Separate meters
• Home design: Duplex residential income property; Single-story
• Construction: Brick/mortar construction; Composition roof
• Exterior features: Lot approximately 10,117 square feet; Not in a flood plain

Interior

• Bedrooms: Three-bedroom units (two total units)
• Bathrooms: Each unit has one full bathroom and one half bathroom
• Heating & cooling: Natural gas heating; Electric cooling
• Interior features: Basement present

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/1.5-bath units multifamily listed at $379k.

Deal economics

• At list price, monthly cash flow is $376 ($5k/yr) — positive. Per door: $188/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $356k (6.0% below list).
• Recommended offer: $356k (6.0% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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.
• Market conditions: Rents rising (+1.0%/yr); 141 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $3,563/mo this rent would consume 51% of the median local household income ($85k/yr) (locally 555% 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 $3k of loan paydown is wiped out by about $11k 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 46 days — a 3% lower offer ($368k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $356,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 6% 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 1972 — 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. 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?
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 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: 7.48%
• Cash-on-cash: 4.25%
• DSCR: 1.19
• GRM: 8.9

CMA / ARV

• ARV (median comp): $381,171
• List price: $379,000
• Delta: -0.57%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.01% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.58×
• Total profit: $-44,514
• Equity at exit: $56,510

10-year hold

• IRR: -5.7%
• Equity multiple: 0.66×
• Total profit: $-35,732
• Equity at exit: $32,769

Cash invested: $106,120 (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 64015

• Rents YoY: 1.0%
• Active inventory: 141
• Price-to-rent: 17.7×

Monthly cashflow live

• Estimated rent: $3,563 high
• Mortgage (P&I): −$1,988
• Tax from tax record: −$293 /mo · $3,519/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$748
• Net cashflow: $376

Break-even live

Break-even rent $3,087

Max offer price $379,000

Occupancy floor 84%

Sensitivity live

Price	-10% $591	-5% $483	+0% $376	+5% $269	+10% $162
Rent	-10% $95	-5% $235	+0% $376	+5% $517	+10% $658
Rate	-1.0pp $567	-0.5pp $472	base $376	+0.5pp $278	+1.0pp $178

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	1.5	$3,564
Total (2 units)			$3,563

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1707 SW Walnut St Blue Springs, MO	4.0	2.0	1800	$2,600	$1.44	17d	1	0.56mi
900 SE Tequesta Ln Blue Springs, MO	3.0	2.5–3.5	1647	$2,128	$1.29	2d	11	1.27mi
401 SE Westminister Rd Blue Springs, MO	3.0	3.0	2050	$2,206	$1.08	8d	1	1.31mi

Listing history 21 events

1. 2026-06-18
   days on market $379,000 Active 46 DOM
2. 2026-06-17
   days on market $379,000 Active 45 DOM
3. 2026-06-16
   days on market $379,000 Active 44 DOM
4. 2026-06-15
   days on market $379,000 Active 43 DOM
5. 2026-06-13
   days on market $379,000 Active 41 DOM
6. 2026-06-13
   days on market $379,000 Active 40 DOM
7. 2026-06-09
   days on market $379,000 Active 37 DOM
8. 2026-06-08
   days on market $379,000 Active 36 DOM
9. 2026-06-07
   days on market $379,000 Active 35 DOM
10. 2026-06-05
    days on market $379,000 Active 32 DOM
11. 2026-06-03
    days on market $379,000 Active 31 DOM
12. 2026-06-02
    days on market $379,000 Active 30 DOM
13. 2026-06-01
    days on market $379,000 Active 29 DOM
14. 2026-05-31
    days on market $379,000 Active 28 DOM
15. 2026-05-03
    listed $379,000 Active 815-char remark
16. 2026-03-18
    historical
17. 2025-11-18
    listed $2,200,000 Active
18. 2003-11-10
    soldstatus
19. 2001-05-25
    soldstatus
20. 1999-05-21
    soldstatus
21. 1994-10-26
    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: $3,519 · $293/mo
• Projected year-2 tax: $3,676 · $306/mo
• Expected delta: +$157/yr (+$13/mo · 4.5%)

ⓘ 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: $42,756
• − Mortgage interest: −$21,230
• − Property taxes: −$3,519
• − Insurance: −$1,895
• − Repairs & maintenance: −$3,420
• − Management: −$3,420
• − Depreciation: −$11,025
• Taxable loss: −$1,754
• Est. tax savings @ 24.0%: +$421
• After-tax cash flow: $4,934/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

-82.8% since first listed

7 events — show timeline

• 2026-05-03 Listed $379,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-18 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-11-18 Listed $2,200,000 Heartland MLS as Distributed by MLS Grid
• 2003-11-10 Sold (Public Records) — Public Records
• 2001-05-25 Sold (Public Records) — Public Records
• 1999-05-21 Sold (Public Records) — Public Records
• 1994-10-26 Sold (Public Records) — Public Records

Property tax history

+5.0%/yr

Latest (2025): $3,519 · -24.3% YoY. Source: county tax records.