3241 E 28th St · Kansas City, MO 64128

$139,000

3 bd · 1.0 ba · 1,472 sqft · SingleFamily public records · 102 Days on market

Built 1908 5,574 sqft lot $94/sqft · 16% above area Est $119k · 16% over

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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 +21.6/30.0
• Appreciation +10.0/10.0
• DSCR +6.9/10.0
• 1% rule +4.6/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.1/15.0

Listing remarks MLS

Only a few minutes from downtown Kansas City, this newly remodeled home offers easy access to all of the activities in the city. It is a good home for a mid-sized family or an opportunity for a investor as the home was rented out by the current owner.

Key facts

• 5,574 sq ft lot
• Garage
• Built 1908

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/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 $134k (3.7% below list).
• Recommended offer: $126k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: 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.
• Zoned schools: Phillis Wheatley Elementary (math 2% / reading 8%, grade F, #1,072 of 1,115 statewide, top 98%, 391 students, 99% FRL); Central Middle School (math 0% / reading 9%, grade F, #388 of 391 statewide, top 99%, 428 students, 99% FRL); Central High School (math 2% / reading 17%, grade F, #507 of 521 statewide, top 98%, 535 students, 99% FRL) — zoned schools average 99% FRL vs 75% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.7%/yr); 87 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($961 loan paydown + $14k appreciation (10.0% local appreciation)).
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 4.7% rent growth), your $39k cash investment doubles in ~3 years — 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 102 days — a 9% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y ago; this cycle's ask has dropped $11k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,490 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — 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. 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: 0.96% ✗
• Cap rate: 8.13%
• Cash-on-cash: 6.55%
• DSCR: 1.29
• GRM: 8.7

CMA / ARV

• ARV (median comp): $119,388
• List price: $139,000
• Delta: 16.43%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2922 E 30th St	0.28mi	3/1.0	1,364 (-7%)	3mo	$73,600	$54	72
2850 Mersington Ave	0.34mi	3/2.0	1,382 (-6%)	10mo	$119,500	$86	62
3023 College Ave	0.25mi	3/1.5	1,320 (-10%)	9mo	$40,000	$30	61
2512 Mersington Ave	0.52mi	4/1.5 (+1)	1,500 (+2%)	7mo	$72,000	$48	60
2947 Garfield Ave	0.75mi	3/2.0	1,527 (+4%)	0mo	$125,000	$82	55
2334 Walrond Ave	0.61mi	3/1.5	1,370 (-7%)	8mo	$59,000	$43	52
3341 Chestnut Ave	0.74mi	3/1.0	1,366 (-7%)	10mo	$80,000	$59	46
2331 Montgall Ave	0.72mi	4/2.0 (+1)	1,376 (-6%)	4mo	$172,000	$125	43
2519 Olive St	0.69mi	2/1.5 (-1)	1,600 (+9%)	6mo	$125,000	$78	42
2636 Spruce St	0.61mi	4/2.0 (+1)	1,282 (-13%)	7mo	$199,000	$155	35
2532 Olive St	0.69mi	3/2.5	1,679 (+14%)	6mo	$185,000	$110	33
2923 Kensington Ave	0.69mi	2/1.0 (-1)	1,692 (+15%)	9mo	$75,000	$44	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 4.65% rent growth · sell at horizon

5-year hold

• IRR: 29.6%
• Equity multiple: 3.35×
• Total profit: $91,434
• Equity at exit: $125,222

10-year hold

• IRR: 26.2%
• Equity multiple: 7.77×
• Total profit: $263,422
• Equity at exit: $270,046

Cash invested: $38,920 (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 64128

• Home prices YoY: 21.6%
• Rents YoY: 4.7%
• Active inventory: 87
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,338 high
• Mortgage (P&I): −$729
• Tax from tax record: −$58 /mo · $696/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $212

Break-even live

Break-even rent $1,069

Max offer price $139,000

Occupancy floor 79%

Sensitivity live

Price	-10% $291	-5% $252	+0% $212	+5% $173	+10% $134
Rent	-10% $107	-5% $159	+0% $212	+5% $265	+10% $318
Rate	-1.0pp $282	-0.5pp $248	base $212	+0.5pp $176	+1.0pp $140

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3220 E 30th St Unit 1A Kansas City, MO	2.0	1.0	1214	$950	$0.78	45d	1	0.17mi
3205 E 31st St Kansas City, MO	4.0	1.0	1800	$1,325	$0.74	25d	1	0.33mi
2637 E 29th St Unit 3 Kansas City, MO	2.0	1.0	954	$1,050	$1.10	45d	1	0.39mi
2846 Myrtle Ave Kansas City, MO	3.0	2.0	1705	$1,350	$0.79	18d	1	0.39mi
2419 Bales Ave Kansas City, MO	3.0	1.5	1116	$1,500	$1.34	4d	1	0.57mi
2413 College Ave Kansas City, MO	2.0	2.0	1022	$1,225	$1.20	25d	1	0.57mi
3305 Askew Ave Kansas City, MO	3.0	1.5	1428	$1,450	$1.02	25d	1	0.59mi
3304 Agnes Ave Unit Downstairs Kansas City, MO	3.0	1.0	1150	$1,095	$0.95	45d	1	0.62mi
2708 Olive St Kansas City, MO	4.0	2.0	1585	$1,500	$0.95	18d	1	0.62mi
3330 Agnes Ave Kansas City, MO	3.0	1.0	1000	$1,410	$1.41	45d	1	0.67mi
2424 Norton Ave Unit B Kansas City, MO	3.0	1.0	982	$1,150	$1.17	18d	1	0.69mi
3346 Agnes Ave Kansas City, MO	3.0	1.0	1400	$1,200	$0.86	9d	1	0.71mi
3419 College Ave Kansas City, MO	4.0	1.0	1608	$1,300	$0.81	3d	1	0.73mi
2724 Brooklyn Ave Kansas City, MO	3.0	2.5	1398	$1,440	$1.03	25d	1	0.74mi
3332 Norton Ave Kansas City, MO	3.0	1.0	1272	$1,350	$1.06	45d	1	0.78mi
3009 Garfield Ave Kansas City, MO	3.0	1.5	1334	$1,425	$1.07	45d	1	0.79mi
3032 Elmwood Ave Kansas City, MO	3.0	1.0	1027	$1,275	$1.24	9d	1	0.81mi
3233 Park Ave Unit 1 Kansas City, MO	2.0	1.0	950	$1,075	$1.13	45d	1	0.83mi
3233 Park Ave Unit 2 Kansas City, MO	2.0	1.0	950	$1,000	$1.05	25d	1	0.83mi
2120 Linwood Blvd Kansas City, MO	3.0	1.0	1326	$1,400	$1.06	45d	1	0.84mi
3434 Chestnut Ave Kansas City, MO	2.0	1.0	1512	$1,100	$0.73	12d	1	0.85mi
3524 Bellefontaine Ave Kansas City, MO	3.0	1.0	1228	$1,350	$1.10	45d	1	0.89mi
3525 Monroe Ave Kansas City, MO	3.0	2.0	1569	$1,500	$0.96	45d	1	0.90mi
2900 E 21st St Kansas City, MO	3.0	1.5	897	$1,650	$1.84	18d	1	0.91mi
3201 E 20th St Kansas City, MO	2.0	1.0	900	$1,050	$1.17	25d	1	0.96mi
3630 Agnes Ave Kansas City, MO	3.0	2.0	1448	$1,500	$1.04	12d	1	1.04mi
3414 Elmwood Ave Kansas City, MO	4.0	1.0	1109	$1,300	$1.17	18d	1	1.05mi
2003 Wabash Ave Unit B Kansas City, MO	3.0	2.0	1200	$1,095	$0.91	25d	1	1.07mi
3305 E 19th St Kansas City, MO	2.0	1.0	1500	$1,200	$0.80	45d	1	1.07mi
2018 E 35th St Kansas City, MO	3.0	2.0	1502	$1,800	$1.20	4d	1	1.11mi
5108 E 30th St Kansas City, MO	3.0	1.0	960	$1,400	$1.46	4d	1	1.13mi
3713 Cleveland Ave Kansas City, MO	4.0	1.0	1256	$1,250	$1.00	18d	1	1.13mi
2002 E 35th St Kansas City, MO	3.0	2.0	1426	$1,295	$0.91	9d	1	1.14mi
3739 Bales Ave Kansas City, MO	3.0	2.0	1400	$1,575	$1.12	25d	1	1.17mi
3710 Wabash Ave Unit 2S Kansas City, MO	2.0	1.0	875	$850	$0.97	25d	1	1.17mi
2729 Grove St Kansas City, MO	3.0	2.0	1510	$1,375	$0.91	45d	1	1.21mi
1905 Kensington Ave Kansas City, MO	3.0	2.0	1285	$1,325	$1.03	25d	1	1.21mi
3818 Indiana Ave Kansas City, MO	3.0	1.5	1223	$1,147	$0.94	45d	1	1.23mi
1805 Jackson Ave Kansas City, MO	4.0	2.0	1250	$1,250	$1.00	45d	1	1.24mi
3817 S Benton Ave Kansas City, MO	4.0	1.5	1380	$1,650	$1.20	25d	1	1.25mi

Listing history 38 events

1. 2026-06-21
   days on market $139,000 Active 102 DOM
2. 2026-06-18
   days on market $139,000 Active 99 DOM
3. 2026-06-17
   days on market $139,000 Active 98 DOM
4. 2026-06-16
   days on market $139,000 Active 97 DOM
5. 2026-06-15
   days on market $139,000 Active 96 DOM
6. 2026-06-13
   days on market $139,000 Active 94 DOM
7. 2026-06-09
   days on market $139,000 Active 90 DOM
8. 2026-06-08
   days on market $139,000 Active 89 DOM
9. 2026-06-07
   days on market $139,000 Active 88 DOM
10. 2026-06-05
    days on market $139,000 Active 85 DOM
11. 2026-06-03
    days on market $139,000 Active 84 DOM
12. 2026-06-02
    days on market $139,000 Active 83 DOM
13. 2026-06-01
    days on market $139,000 Active 82 DOM
14. 2026-05-31
    days on market $139,000 Active 81 DOM
15. 2026-04-15
    price $139,000 251-char remark

    Show marketing remark (251 chars)

    Only a few minutes from downtown Kansas City, this newly remodeled home offers easy access to all of the activities in the city. It is a good home for a mid-sized family or an opportunity for a investor as the home was rented out by the current owner.

16. 2026-03-12
    listed $150,000 Active 251-char remark

    Show marketing remark (251 chars)

    Only a few minutes from downtown Kansas City, this newly remodeled home offers easy access to all of the activities in the city. It is a good home for a mid-sized family or an opportunity for a investor as the home was rented out by the current owner.

17. 2026-03-08
    historical $150,000 251-char remark

    Show marketing remark (251 chars)

    Only a few minutes from downtown Kansas City, this newly remodeled home offers easy access to all of the activities in the city. It is a good home for a mid-sized family or an opportunity for a investor as the home was rented out by the current owner.

18. 2025-04-10
    historical
19. 2024-12-07
    listed $185,000 Active
20. 2022-11-23
    status Pending
21. 2022-11-22
    historical
22. 2022-11-16
    price $139,000
23. 2022-10-20
    listed $145,000 Active
24. 2022-08-23
    historical
25. 2022-08-22
    price $150,000
26. 2022-08-13
    price $160,000
27. 2022-07-31
    price $170,000
28. 2022-07-16
    listed $174,900 Active
29. 2022-02-01
    soldstatus
30. 2012-01-24
    soldstatus
31. 2010-03-31
    historical
32. 2009-07-09
    listed $22,500
33. 2009-06-17
    soldstatus $295,537
34. 2002-06-18
    soldstatus
35. 2002-06-14
    soldstatus
36. 2002-05-03
    listed $29,000
37. 2000-08-15
    soldstatus
38. 1988-04-27
    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: $696 · $58/mo
• Projected year-2 tax: $1,348 · $112/mo
• Expected delta: +$653/yr (+$54/mo · 93.8%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 67% 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: $16,058
• − Mortgage interest: −$7,786
• − Property taxes: −$696
• − Insurance: −$695
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$4,044
• Taxable income: $268
• Est. tax owed @ 24.0%: −$64
• After-tax cash flow: $2,484/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): 11,912
• Household income: $36,088
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 946.0

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 Black (79%)
• Race & ethnicity: Black 79% Hispanic / Latino 9% White 8% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Swedish 1% Hispanic 1%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 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: ▲ 73.41%
• Current HPI: 412.6862
• Rent YoY: ▲ 4.65%
• 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

+379.3% since first listed

24 events — show timeline

• 2026-04-15 Price Changed $139,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-12 Listed $150,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-08 Coming Soon $150,000 Heartland MLS as Distributed by MLS Grid
• 2025-04-10 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-12-07 Listed $185,000 Heartland MLS as Distributed by MLS Grid
• 2022-11-23 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-11-22 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2022-11-16 Price Changed $139,000 Heartland MLS as Distributed by MLS Grid
• 2022-10-20 Listed $145,000 Heartland MLS as Distributed by MLS Grid
• 2022-08-23 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2022-08-22 Price Changed $150,000 Heartland MLS as Distributed by MLS Grid
• 2022-08-13 Price Changed $160,000 Heartland MLS as Distributed by MLS Grid
• 2022-07-31 Price Changed $170,000 Heartland MLS as Distributed by MLS Grid
• 2022-07-16 Listed $174,900 Heartland MLS as Distributed by MLS Grid
• 2022-02-01 Sold (Public Records) — Public Records
• 2012-01-24 Sold (Public Records) — Public Records
• 2010-03-31 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2009-07-09 Listed $22,500 Heartland MLS as Distributed by MLS Grid
• 2009-06-17 Sold (Public Records) $295,537 Public Records
• 2002-06-18 Sold (Public Records) — Public Records
• 2002-06-14 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2002-05-03 Listed $29,000 Heartland MLS as Distributed by MLS Grid
• 2000-08-15 Sold (Public Records) — Public Records
• 1988-04-27 Sold (Public Records) — Public Records

Property tax history

+5.2%/yr

Latest (2025): $696 · -36.7% YoY. Source: county tax records.