354-360 Waverly Ave · Kansas City, KS 66101

$140,000

4 bd · 4.0 ba · 1,944 sqft · MultiFamily public records · 210 Days on market

Built 1935 0.28 ac lot

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0

Multi-family units

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

Listing remarks MLS

* * * Good value * * * Package deal - listing #2173823 adjacent vacant lot. Needs new roof and soffit, severe damage to exterior and interior walls. Needs new windows and doors. Home in neighborhood revitalization area. With applicable improvements may qualify for 95% tax rebate for 10 years. Contact Wyandotte Economic Development Council for further details. Property has been vandalized while vacant. Utilities are turned off; be sure to bring a flashlight.

Key facts

• 0.28 acre lot
• Built 1935
• Listed 209 days

Property features AI

Finance

• Financial info: Annual tax amount listed (see full listing for details)

Exterior

• Parking: Other parking
• Utilities: Public water; Utilities: Other
• Home design: Residential income property (quadruplex); Single-story
• Construction: Stucco and frame construction; Composition roof
• Exterior features: Not in a flood plain; Lot approximately 12,130 square feet (estimated)

Interior

• Bedrooms: Four 1-bedroom units
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Forced air heating; Cooling: Other
• Interior features: Forced air heating; Cooling: Other

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $3k ($38k/yr) — positive. Per door: $788/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 33.3% vs local median 4.8% 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 72/100 on livability (#103 in KS) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• Kansas City (urban): math 8% / reading 15% proficiency, ranked #169 of 169 in KS (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Banneker Elem (math 2% / reading 8%, grade F, #679 of 684 statewide, top 100%, 256 students, 92% FRL); Wyandotte High (math 2% / reading 3%, grade F, #325 of 327 statewide, top 99%, 1,832 students, 83% FRL).
• Market conditions: 42 active listings in the ZIP; lower-income renter base — watch delinquency; 369 units permitted in Wyandotte County in 2024 (236 in 5+ unit buildings).
• At $5,318/mo this rent would consume 150% of the median local household income ($43k/yr) (locally 457% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($968 loan paydown + $14k appreciation (10.0% local appreciation)).
• Wyandotte County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 210 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 days. Have you received any prior offers? Is the seller open to a 12% 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 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. 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: 3.80% ✓
• Cap rate: 33.31%
• Cash-on-cash: 96.49%
• DSCR: 5.29
• GRM: 2.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.07×
• Total profit: $277,126
• Equity at exit: $126,123

10-year hold

• IRR: —
• Equity multiple: 17.80×
• Total profit: $658,483
• Equity at exit: $271,989

Cash invested: $39,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kansas: 83 Strongly Landlord-Friendly · R+10
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; moderate court pace.

Methodology + full state rankings →

ZIP-level market 66101

• Home prices YoY: 20.4%
• Active inventory: 42
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $5,318 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$257 /mo · $3,081/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,117
• Net cashflow: $3,152

Break-even live

Break-even rent $1,328

Max offer price $140,000

Occupancy floor 36%

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$5,320
Total (4 units)			$5,318

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $140,000 Active 210 DOM
2. 2026-06-17
   days on market $140,000 Active 209 DOM
3. 2026-06-16
   days on market $140,000 Active 208 DOM
4. 2026-06-15
   days on market $140,000 Active 207 DOM
5. 2026-06-13
   days on market $140,000 Active 205 DOM
6. 2026-06-13
   days on market $140,000 Active 204 DOM
7. 2026-06-09
   days on market $140,000 Active 201 DOM
8. 2026-06-08
   days on market $140,000 Active 200 DOM
9. 2026-06-07
   days on market $140,000 Active 199 DOM
10. 2026-06-05
    days on market $140,000 Active 196 DOM
11. 2026-06-03
    days on market $140,000 Active 195 DOM
12. 2026-06-02
    days on market $140,000 Active 194 DOM
13. 2026-06-01
    days on market $140,000 Active 193 DOM
14. 2026-05-31
    days on market $140,000 Active 192 DOM
15. 2025-11-21
    listed $140,000 Active
16. 2025-11-20
    historical $140,000
17. 2024-11-30
    historical
18. 2024-04-03
    listed $200,000 Active
19. 2019-09-12
    soldstatus Sold 466-char remark

    Show marketing remark (466 chars)

    * * * Good value * * * Package deal - listing #2173823 adjacent vacant lot. Needs new roof and soffit, severe damage to exterior and interior walls. Needs new windows and doors. Home in neighborhood revitalization area. With applicable improvements may qualify for 95% tax rebate for 10 years. Contact Wyandotte Economic Development Council for further details. Property has been vandalized while vacant. Utilities are turned off; be sure to bring a flashlight.

20. 2019-08-25
    status Pending 466-char remark

    Show marketing remark (466 chars)

    * * * Good value * * * Package deal - listing #2173823 adjacent vacant lot. Needs new roof and soffit, severe damage to exterior and interior walls. Needs new windows and doors. Home in neighborhood revitalization area. With applicable improvements may qualify for 95% tax rebate for 10 years. Contact Wyandotte Economic Development Council for further details. Property has been vandalized while vacant. Utilities are turned off; be sure to bring a flashlight.

21. 2019-08-02
    price $10,000 466-char remark

    Show marketing remark (466 chars)

    * * * Good value * * * Package deal - listing #2173823 adjacent vacant lot. Needs new roof and soffit, severe damage to exterior and interior walls. Needs new windows and doors. Home in neighborhood revitalization area. With applicable improvements may qualify for 95% tax rebate for 10 years. Contact Wyandotte Economic Development Council for further details. Property has been vandalized while vacant. Utilities are turned off; be sure to bring a flashlight.

22. 2019-07-12
    price $15,000 466-char remark

    Show marketing remark (466 chars)

    * * * Good value * * * Package deal - listing #2173823 adjacent vacant lot. Needs new roof and soffit, severe damage to exterior and interior walls. Needs new windows and doors. Home in neighborhood revitalization area. With applicable improvements may qualify for 95% tax rebate for 10 years. Contact Wyandotte Economic Development Council for further details. Property has been vandalized while vacant. Utilities are turned off; be sure to bring a flashlight.

23. 2019-06-29
    price $20,000 466-char remark

    Show marketing remark (466 chars)

    * * * Good value * * * Package deal - listing #2173823 adjacent vacant lot. Needs new roof and soffit, severe damage to exterior and interior walls. Needs new windows and doors. Home in neighborhood revitalization area. With applicable improvements may qualify for 95% tax rebate for 10 years. Contact Wyandotte Economic Development Council for further details. Property has been vandalized while vacant. Utilities are turned off; be sure to bring a flashlight.

24. 2019-06-25
    listed $25,000 Active 466-char remark

    Show marketing remark (466 chars)

    * * * Good value * * * Package deal - listing #2173823 adjacent vacant lot. Needs new roof and soffit, severe damage to exterior and interior walls. Needs new windows and doors. Home in neighborhood revitalization area. With applicable improvements may qualify for 95% tax rebate for 10 years. Contact Wyandotte Economic Development Council for further details. Property has been vandalized while vacant. Utilities are turned off; be sure to bring a flashlight.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast KS · Resets to sale price

• Current annual tax: $3,081 · $257/mo
• Projected year-2 tax: $3,081 · $257/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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,816
• − Mortgage interest: −$7,842
• − Property taxes: −$3,081
• − Insurance: −$700
• − Repairs & maintenance: −$5,105
• − Management: −$5,105
• − Depreciation: −$4,073
• Taxable income: $37,909
• Est. tax owed @ 24.0%: −$9,098
• After-tax cash flow: $28,725/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
• NCES district ID: 2007950
• Math proficiency: 8% ▼ -10.00%
• Reading proficiency: 15% ▼ -4.00%
• Median HH income: $34,774
• Composite: 9.38/100
• National rank: #9856
• State rank: #169 of 169 in KS

Livability — Kansas City

• Score: 72/100
• State rank: #103
• US rank: #6054

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kansas City, KS
• County: Wyandotte County · 130,206 people
• City population: 130,206
• Metro: Kansas City, MO-KS
• Population (ZIP): 12,556
• Household income: $42,551
• Rent vs Own: 60.8% rent · 39.2% own
• Severe rent burden: 457.0

Population outlook (Wyandotte County) Hauer SSP2

• Today (2025): 177,063 people
• By 2030: 183,212 · +3.5%
• By 2040: 195,697 · +10.5%
• By 2050: 207,897 · +17.4%
• By 2075: 236,169 · +33.4%
• By 2100: 255,790 · +44.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 47% Black 30% White 16% Two or more races 10% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 40%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 29% · Canada, India
• Languages at home: 53% English-only · Spanish 39% Other Asian/Pacific 2%

Political lean MEDSL · Wyandotte

• 2024 margin: Strong D (+23.9) · D 61.1% · R 37.3% · Other 1.6%
• 2008→2024 swing: -17.0pp toward R · 2008: 40.9pp · 2024: 23.9pp
• All cycles: 2024: D+23.9 2020: D+30.9 2016: D+29.1 2012: D+36.4 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 77.98%
• Current HPI: 460.4303
• Rent YoY: —
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+460.0% since first listed

10 events — show timeline

• 2025-11-21 Listed $140,000 Heartland MLS as Distributed by MLS Grid
• 2025-11-20 Coming Soon $140,000 Heartland MLS as Distributed by MLS Grid
• 2024-11-30 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-04-03 Listed $200,000 Heartland MLS as Distributed by MLS Grid
• 2019-09-12 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2019-08-25 Pending — Heartland MLS as Distributed by MLS Grid
• 2019-08-02 Price Changed $10,000 Heartland MLS as Distributed by MLS Grid
• 2019-07-12 Price Changed $15,000 Heartland MLS as Distributed by MLS Grid
• 2019-06-29 Price Changed $20,000 Heartland MLS as Distributed by MLS Grid
• 2019-06-25 Listed $25,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+14.2%/yr

Latest (2025): $3,081 · +57.1% YoY. Source: county tax records.