2450 Hardesty Ave · Kansas City, MO 64127

$69,900

5 bd · 2.0 ba · 1,716 sqft · MultiFamily public records · 286 Days on market

Built 1900 6,059 sqft lot $41/sqft · 58% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +1.1/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Discover this versatile 3-unit triplex in the heart of Kansas City! Perfect for investors seeking a cash-flowing rental property or homeowners looking to convert it into a spacious single-family residence. Each unit offers unique charm with ample space, modern potential, and strong rental demand. Don’t miss this opportunity to own a flexible investment property in a prime location! Contact us today for a showing. To help visualize this home’s floor plan and to highlight its potential, virtual furnishings may have been added to photos found in this listing.

Key facts

• 6,059 sq ft lot
• 3 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $70k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 45.0% 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 flat; 108 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $3,388/mo this rent would consume 123% of the median local household income ($33k/yr) (locally 1943% 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 $483 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.9% rent growth), your $20k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 286 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y ago; this cycle's ask has dropped $95k (58%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 286 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 4.85% ✓
• Cap rate: 44.96%
• Cash-on-cash: 138.10%
• DSCR: 7.14
• GRM: 1.7

CMA / ARV

• ARV (median comp): $168,064
• List price: $69,900
• Delta: -58.41%
• Verdict: UNDERPRICED
• Comps: 8 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.94% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.40×
• Total profit: $125,264
• Equity at exit: $10,422

10-year hold

• IRR: —
• Equity multiple: 14.63×
• Total profit: $266,770
• Equity at exit: $6,044

Cash invested: $19,572 (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 64127

• Home prices YoY: -2.6%
• Rents YoY: 0.9%
• Active inventory: 108
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $3,388 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$28 /mo · $341/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$711
• Net cashflow: $2,252

Break-even live

Break-even rent $537

Max offer price $69,900

Occupancy floor 29%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,387
Total (3 units)			$3,388

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1805 Jackson Ave Kansas City, MO	4.0	2.0	1250	$1,250	$1.00	44d	1	0.98mi
3414 Elmwood Ave Kansas City, MO	4.0	1.0	1109	$1,300	$1.17	16d	1	1.29mi

Listing history 34 events

1. 2026-06-18
   days on market $69,900 Active 286 DOM
2. 2026-06-17
   days on market $69,900 Active 285 DOM
3. 2026-06-16
   days on market $69,900 Active 284 DOM
4. 2026-06-15
   days on market $69,900 Active 283 DOM
5. 2026-06-13
   days on market $69,900 Active 281 DOM
6. 2026-06-09
   days on market $69,900 Active 277 DOM
7. 2026-06-08
   days on market $69,900 Active 276 DOM
8. 2026-06-07
   days on market $69,900 Active 275 DOM
9. 2026-06-05
   days on market $69,900 Active 272 DOM
10. 2026-06-03
    days on market $69,900 Active 271 DOM
11. 2026-06-02
    days on market $69,900 Active 270 DOM
12. 2026-06-01
    days on market $69,900 Active 269 DOM
13. 2026-05-31
    days on market $69,900 Active 268 DOM
14. 2026-04-15
    price $79,900 574-char remark

    Show marketing remark (574 chars)

    Discover this versatile 3-unit triplex in the heart of Kansas City! Perfect for investors seeking a cash-flowing rental property or homeowners looking to convert it into a spacious single-family residence. Each unit offers unique charm with ample space, modern potential, and strong rental demand. Don’t miss this opportunity to own a flexible investment property in a prime location! Contact us today for a showing. To help visualize this home’s floor plan and to highlight its potential, virtual furnishings may have been added to photos found in this listing.

15. 2026-03-05
    price $130,000 574-char remark

    Show marketing remark (574 chars)

    Discover this versatile 3-unit triplex in the heart of Kansas City! Perfect for investors seeking a cash-flowing rental property or homeowners looking to convert it into a spacious single-family residence. Each unit offers unique charm with ample space, modern potential, and strong rental demand. Don’t miss this opportunity to own a flexible investment property in a prime location! Contact us today for a showing. To help visualize this home’s floor plan and to highlight its potential, virtual furnishings may have been added to photos found in this listing.

16. 2026-01-23
    price $134,900 574-char remark

    Show marketing remark (574 chars)

    Discover this versatile 3-unit triplex in the heart of Kansas City! Perfect for investors seeking a cash-flowing rental property or homeowners looking to convert it into a spacious single-family residence. Each unit offers unique charm with ample space, modern potential, and strong rental demand. Don’t miss this opportunity to own a flexible investment property in a prime location! Contact us today for a showing. To help visualize this home’s floor plan and to highlight its potential, virtual furnishings may have been added to photos found in this listing.

17. 2025-11-27
    price $139,900 574-char remark

    Show marketing remark (574 chars)

    Discover this versatile 3-unit triplex in the heart of Kansas City! Perfect for investors seeking a cash-flowing rental property or homeowners looking to convert it into a spacious single-family residence. Each unit offers unique charm with ample space, modern potential, and strong rental demand. Don’t miss this opportunity to own a flexible investment property in a prime location! Contact us today for a showing. To help visualize this home’s floor plan and to highlight its potential, virtual furnishings may have been added to photos found in this listing.

18. 2025-10-07
    price $149,900 574-char remark

    Show marketing remark (574 chars)

    Discover this versatile 3-unit triplex in the heart of Kansas City! Perfect for investors seeking a cash-flowing rental property or homeowners looking to convert it into a spacious single-family residence. Each unit offers unique charm with ample space, modern potential, and strong rental demand. Don’t miss this opportunity to own a flexible investment property in a prime location! Contact us today for a showing. To help visualize this home’s floor plan and to highlight its potential, virtual furnishings may have been added to photos found in this listing.

19. 2025-09-05
    listed $164,900 Active 574-char remark

    Show marketing remark (574 chars)

    Discover this versatile 3-unit triplex in the heart of Kansas City! Perfect for investors seeking a cash-flowing rental property or homeowners looking to convert it into a spacious single-family residence. Each unit offers unique charm with ample space, modern potential, and strong rental demand. Don’t miss this opportunity to own a flexible investment property in a prime location! Contact us today for a showing. To help visualize this home’s floor plan and to highlight its potential, virtual furnishings may have been added to photos found in this listing.

20. 2025-09-04
    historical
21. 2025-08-30
    listed $164,900 Active
22. 2023-08-10
    historical
23. 2023-06-22
    status Active
24. 2023-06-06
    status Pending
25. 2023-06-01
    listed $219,900 Active
26. 2023-03-19
    historical
27. 2023-01-18
    price $170,000
28. 2023-01-13
    price $180,000
29. 2023-01-06
    listed $190,000 Active
30. 2011-04-28
    soldstatus
31. 2010-11-21
    listed $19,900
32. 2005-06-03
    soldstatus
33. 2004-08-20
    listed $44,500
34. 1980-05-01
    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: $341 · $28/mo
• Projected year-2 tax: $678 · $57/mo
• Expected delta: +$337/yr (+$28/mo · 98.8%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% 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: $40,656
• − Mortgage interest: −$3,915
• − Property taxes: −$341
• − Insurance: −$350
• − Repairs & maintenance: −$3,252
• − Management: −$3,252
• − Depreciation: −$2,033
• Taxable income: $27,512
• Est. tax owed @ 24.0%: −$6,603
• After-tax cash flow: $20,426/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): 17,668
• Household income: $33,111
• Rent vs Own: 54.5% rent · 45.5% own
• Severe rent burden: 1943.0

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 0.65)
• Race & ethnicity: Black 42% Hispanic / Latino 40% Two or more races 13% White 12% Native American 1%
• Hispanic origin (detail): Mexican 28%
• Foreign-born: 20% · Canada, Vietnam
• Languages at home: 67% English-only · Spanish 29%

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: ▼ -7.88%
• Current HPI: 289.2468
• Rent YoY: ▲ 0.94%
• 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

+79.6% since first listed

21 events — show timeline

• 2026-04-15 Price Changed $79,900 Heartland MLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $130,000 Heartland MLS as Distributed by MLS Grid
• 2026-01-23 Price Changed $134,900 Heartland MLS as Distributed by MLS Grid
• 2025-11-27 Price Changed $139,900 Heartland MLS as Distributed by MLS Grid
• 2025-10-07 Price Changed $149,900 Heartland MLS as Distributed by MLS Grid
• 2025-09-05 Listed $164,900 Heartland MLS as Distributed by MLS Grid
• 2025-09-04 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-08-30 Listed $164,900 Heartland MLS as Distributed by MLS Grid
• 2023-08-10 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2023-06-22 Relisted — Heartland MLS as Distributed by MLS Grid
• 2023-06-06 Pending — Heartland MLS as Distributed by MLS Grid
• 2023-06-01 Listed $219,900 Heartland MLS as Distributed by MLS Grid
• 2023-03-19 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2023-01-18 Price Changed $170,000 Heartland MLS as Distributed by MLS Grid
• 2023-01-13 Price Changed $180,000 Heartland MLS as Distributed by MLS Grid
• 2023-01-06 Listed $190,000 Heartland MLS as Distributed by MLS Grid
• 2011-04-28 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2010-11-21 Listed $19,900 Heartland MLS as Distributed by MLS Grid
• 2005-06-03 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2004-08-20 Listed $44,500 Heartland MLS as Distributed by MLS Grid
• 1980-05-01 Sold (Public Records) — Public Records

Property tax history

-0.3%/yr

Latest (2015): $341 · -0.3% YoY. Source: county tax records.