1004 E Walnut St · Independence, MO 64050

$152,000

3 bd · 1.0 ba · 969 sqft · SingleFamily public records · 46 Days on market

Built 1935 6,098 sqft lot $157/sqft · at area comps Est $150k · at est.

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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 +14.8/30.0
• ARV discount +6.9/15.0
• DSCR +4.5/10.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• 1% rule +3.2/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bdrms, possible 3rd, with new carpet, A/C, furnace, roof, paint in & out, newer vinyl siding, new stove, cabinets, refrigerator, sinks & faucets, tile. On corner lot. Ready for move in. owner/agent

Key facts

• 6,098 sq ft lot
• Built 1935
• Listed 45 days

Property features AI

Finance

• Financial info: Annual tax listed

Exterior

• Parking: Off-street parking
• Security: Fire alarm; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Ranch floor plan; Residential property
• Construction: Vinyl siding; Composition roof; Slab foundation; Built 76–100 years ago
• Exterior features: Porch; City lot; Corner lot

Interior

• Kitchen: Disposal; Refrigerator; Electric range; Free-standing electric oven; Eat-in kitchen
• Bedrooms: 3 bedrooms (all on the first floor)
• Flooring: Carpet
• Bathrooms: 1 full bathroom (first floor)
• Heating & cooling: Natural gas heating; Electric cooling
• Interior features: Ceiling fans; Pantry; Storm windows; Storm doors
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $152k.

Deal economics

• At list price, monthly cash flow is $41 ($492/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (18.2% below list).
• Recommended offer: $124k (18.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 5.0% in Independence — 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 (#10 in MO, #1,296 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D+, crime F.
• Independence 30 (suburban): math 26% / reading 38% proficiency, ranked #252 of 324 in MO (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Thomas Hart Benton Elem. (math 27% / reading 37%, grade F, #761 of 1,115 statewide, top 72%, 397 students, 82% FRL); Pioneer Ridge Middle (math 25% / reading 42%, grade F, #260 of 391 statewide, top 67%, 806 students, 61% FRL); William Chrisman High (math 21% / reading 45%, grade F, #351 of 521 statewide, top 68%, 1,406 students, 66% FRL).
• Market conditions: Rents rising (+3.8%/yr); 127 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 31% of the median local income ($49k/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 $1k of loan paydown is wiped out by about $5k 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 ($147k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,332 (18.2% 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 18% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — 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. 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?
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: 0.82% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.16%
• DSCR: 1.05
• GRM: 10.2

CMA / ARV

• ARV (median comp): $150,000
• List price: $152,000
• Delta: 1.33%
• 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
204 S Rogers St	0.05mi	2/1.0 (-1)	930 (-4%)	1mo	$150,000	$161	85
325 S Crane St	0.17mi	3/1.0	996 (+3%)	4mo	$124,000	$124	84
1014 E Smith Ave	0.21mi	3/1.0	914 (-6%)	2mo	$168,000	$184	79
1005 E Walnut St	0.03mi	2/1.0 (-1)	837 (-14%)	4mo	$150,000	$179	67
15103 E Truman Rd	0.23mi	3/2.0	1,092 (+13%)	2mo	$179,500	$164	62
610 Frandsen Rd	0.59mi	3/1.0	1,049 (+8%)	6mo	$109,900	$105	54
318 E Walnut St	0.59mi	2/1.0 (-1)	1,017 (+5%)	8mo	$125,000	$123	52
728 N Sunrise Dr	0.62mi	3/1.0	864 (-11%)	1mo	$165,000	$191	52
929 S Pope Ave	0.64mi	2/1.5 (-1)	938 (-3%)	8mo	$129,000	$138	51
1124 S Haden St	0.66mi	2/1.0 (-1)	1,032 (+6%)	2mo	$135,000	$131	51
823 S Savage St	0.50mi	3/1.0	840 (-13%)	7mo	$145,000	$173	49
211 S Pearl St	0.55mi	2/1.5 (-1)	1,080 (+12%)	1mo	$147,500	$137	47

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 · 3.79% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.50×
• Total profit: $-21,073
• Equity at exit: $22,664

10-year hold

• IRR: -3.8%
• Equity multiple: 0.74×
• Total profit: $-11,032
• Equity at exit: $13,142

Cash invested: $42,560 (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 64050

• Home prices YoY: -15.5%
• Rents YoY: 3.8%
• Active inventory: 127
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,243 high
• Mortgage (P&I): −$797
• Tax from tax record: −$81 /mo · $970/yr
• Insurance: −$63
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $41

Break-even live

Break-even rent $1,191

Max offer price $152,000

Occupancy floor 92%

Sensitivity live

Price	-10% $127	-5% $84	+0% $41	+5% $-2	+10% $-45
Rent	-10% $-57	-5% $-8	+0% $41	+5% $90	+10% $139
Rate	-1.0pp $118	-0.5pp $80	base $41	+0.5pp $2	+1.0pp $-38

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: $38,000
• Closing costs: $4,560
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1314 E Frederick St Independence, MO	2.0	1.0	800	$999	$1.25	45d	1	0.68mi
902 E Frederick St Independence, MO	2.0	1.0	850	$995	$1.17	23d	1	0.70mi
630 N Hocker Ave Independence, MO	3.0	1.0	864	$1,325	$1.53	25d	1	0.70mi
414 Hillside Dr Independence, MO	2.0	1.0–2.0	627	$1,199	$1.91	45d	3	0.78mi
1118 S Pope Ave Independence, MO	2.0	1.0	988	$1,195	$1.21	18d	1	0.78mi
16012 E T C Lea Rd Unit C Independence, MO	2.0	1.0	800	$795	$0.99	25d	1	0.96mi
1100 N Noland Rd Apt D Independence, MO	2.0	1.0	800	$1,025	$1.28	9d	1	1.12mi
321 W South Ave Unit 9 Independence, MO	2.0	1.5	980	$1,295	$1.32	45d	1	1.21mi
321 W South Ave Unit 8 Independence, MO	2.0	1.5	980	$1,895	$1.93	3d	1	1.21mi
321 W South Ave Unit 11 Independence, MO	3.0	2.0	1000	$1,275	$1.27	23d	1	1.21mi
523 W Maple Ave Unit 2 A Independence, MO	3.0	2.0	964	$995	$1.03	45d	1	1.22mi
523 W Maple Ave Unit 1A Independence, MO	2.0	1.0	815	$945	$1.16	9d	1	1.22mi
8061/2 E Devon St Independence, MO	2.0	1.0	824	$1,195	$1.45	9d	1	1.25mi
1612 N Dodgion Ave Independence, MO	3.0	1.0	1000	$1,345	$1.34	45d	1	1.49mi

Listing history 33 events

1. 2026-06-21
   days on market $152,000 Active 46 DOM
2. 2026-06-18
   days on market $152,000 Active 43 DOM
3. 2026-06-17
   days on market $152,000 Active 42 DOM
4. 2026-06-16
   days on market $152,000 Active 41 DOM
5. 2026-06-15
   days on market $152,000 Active 40 DOM
6. 2026-06-13
   pricedays on market $152,000 Active 38 DOM
7. 2026-06-09
   days on market $155,000 Active 34 DOM
8. 2026-06-08
   days on market $155,000 Active 33 DOM
9. 2026-06-07
   days on market $155,000 Active 32 DOM
10. 2026-06-05
    days on market $155,000 Active 29 DOM
11. 2026-06-03
    days on market $155,000 Active 28 DOM
12. 2026-06-02
    days on market $155,000 Active 27 DOM
13. 2026-06-01
    days on market $155,000 Active 26 DOM
14. 2026-05-31
    days on market $155,000 Active 25 DOM
15. 2026-05-14
    historical $1,245
16. 2026-05-07
    listed $155,000 Active 700-char remark
17. 2026-05-06
    price $155,000 700-char remark
18. 2026-05-06
    historical $15,500 700-char remark
19. 2026-05-05
    price $1,245
20. 2026-04-21
    price $1,295
21. 2026-04-07
    price $1,345
22. 2026-03-24
    price $1,395
23. 2026-02-24
    listed $1,450
24. 2025-07-21
    soldstatus
25. 2025-01-16
    soldstatus
26. 2005-03-07
    soldstatus
27. 2005-02-24
    soldstatus 211-char remark

    Show marketing remark (211 chars)

    2 bdrms, possible 3rd, with new carpet, A/C, furnace, roof, paint in & out, newer vinyl siding, new stove, cabinets, refrigerator, sinks & faucets, tile. On corner lot. Ready for move in. owner/agent

28. 2005-01-12
    listed $57,900 211-char remark

    Show marketing remark (211 chars)

    2 bdrms, possible 3rd, with new carpet, A/C, furnace, roof, paint in & out, newer vinyl siding, new stove, cabinets, refrigerator, sinks & faucets, tile. On corner lot. Ready for move in. owner/agent

29. 2004-11-18
    soldstatus
30. 2004-11-16
    soldstatus

    Show marketing remark (340 chars)

    This Cute updated 2 BR True Ranch will sell at Absolute Auction on Sat. Oct 16 at 11:30 AM. Home Sells Regarless of Price! NEW: Roof. Carpet, Ceramic Tile; Paint; Kitchen Cabinets; HVAC Property sells "as-is"; 10% Buyers Fee; List Price Represents Opening Bid; Agents Must Register Clients by 12 Noon on Friday Oct 15, call office

31. 2004-09-22
    listed $10,000

    Show marketing remark (340 chars)

    This Cute updated 2 BR True Ranch will sell at Absolute Auction on Sat. Oct 16 at 11:30 AM. Home Sells Regarless of Price! NEW: Roof. Carpet, Ceramic Tile; Paint; Kitchen Cabinets; HVAC Property sells "as-is"; 10% Buyers Fee; List Price Represents Opening Bid; Agents Must Register Clients by 12 Noon on Friday Oct 15, call office

32. 2003-09-23
    soldstatus
33. 1995-11-06
    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: $970 · $81/mo
• Projected year-2 tax: $1,474 · $123/mo
• Expected delta: +$505/yr (+$42/mo · 52.1%)

ⓘ 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,920
• − Mortgage interest: −$8,514
• − Property taxes: −$970
• − Insurance: −$760
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$4,422
• Taxable loss: −$2,133
• Est. tax savings @ 24.0%: +$512
• After-tax cash flow: $1,004/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: Independence 30
• NCES district ID: 2915480
• Math proficiency: 26% ▼ -8.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $41,843
• Composite: 27.04/100
• National rank: #7054
• State rank: #252 of 324 in MO

Livability — Independence

• Score: 82/100
• State rank: #10
• US rank: #1296

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, MO
• County: Jackson County · 687,798 people
• City population: 117,675
• Metro: Kansas City, MO-KS
• Population (ZIP): 21,079
• Household income: $48,834
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 972.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 11% Two or more races 9% Black 7% Pacific Islander 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 4% Serbian 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Asian/Pacific 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: ▼ -56.24%
• Current HPI: 305.796
• Rent YoY: ▲ 3.79%
• 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

+1420.0% since first listed

20 events — show timeline

• 2026-06-11 Price Changed $152,000 Heartland MLS as Distributed by MLS Grid
• 2026-05-14 Rental Removed $1,245 APPFOLIO
• 2026-05-07 Listed $155,000 Heartland MLS as Distributed by MLS Grid
• 2026-05-06 Price Changed $155,000 Heartland MLS as Distributed by MLS Grid
• 2026-05-06 Coming Soon $15,500 Heartland MLS as Distributed by MLS Grid
• 2026-05-05 Price Changed $1,245 APPFOLIO
• 2026-04-21 Price Changed $1,295 APPFOLIO
• 2026-04-07 Price Changed $1,345 APPFOLIO
• 2026-03-24 Price Changed $1,395 APPFOLIO
• 2026-02-24 Listed for Rent $1,450 APPFOLIO
• 2025-07-21 Sold (Public Records) — Public Records
• 2025-01-16 Sold (Public Records) — Public Records
• 2005-03-07 Sold (Public Records) — Public Records
• 2005-02-24 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2005-01-12 Listed $57,900 Heartland MLS as Distributed by MLS Grid
• 2004-11-18 Sold (Public Records) — Public Records
• 2004-11-16 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2004-09-22 Listed $10,000 Heartland MLS as Distributed by MLS Grid
• 2003-09-23 Sold (Public Records) — Public Records
• 1995-11-06 Sold (Public Records) — Public Records

Property tax history

+4.1%/yr

Latest (2025): $970 · -50.3% YoY. Source: county tax records.