5015 E 40th St · Kansas City, MO 64130

$135,000

2 bd · 1.0 ba · 1,640 sqft · SingleFamily public records · 160 Days on market

Built 1953 8,422 sqft lot $82/sqft · 13% below area Est $154k · 13% under

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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 +20.2/30.0
• ARV discount +13.2/15.0
• DSCR +6.4/10.0
• 1% rule +5.1/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Offered for sale is this well-maintained classic 2-story traditional home, currently tenant-occupied and delivering immediate rental income. Featuring 4 spacious bedrooms and 2 full bathrooms, this property combines timeless curb appeal with long-term investment potential. Call your favorite agent today to inquire on this listing!

Key facts

• 8,422 sq ft lot
• Garage
• Built 1953

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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 rising fast (+4.4%/yr); 187 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 39% of the median local income ($42k/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 $933 of loan paydown is wiped out by about $4k 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 160 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y ago; this cycle's ask is 9210% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $15k; list at $135k implies a 800% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 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 1953 — 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: 1.01% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.44%
• DSCR: 1.24
• GRM: 8.3

CMA / ARV

• ARV (median comp): $154,476
• List price: $135,000
• Delta: -12.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4940 E 40th Pl	0.09mi	3/2.0 (+1)	1,560 (-5%)	1mo	$175,000	$112	78
4905 E 41st St	0.23mi	3/2.0 (+1)	1,670 (+2%)	6mo	$109,900	$66	72
4623 E 38th St	0.35mi	3/2.5 (+1)	1,728 (+5%)	1mo	$200,000	$116	63
4660 E 43rd Ter	0.52mi	3/1.0 (+1)	1,536 (-6%)	3mo	$75,000	$49	58
3721 Elmwood Ave	0.44mi	3/2.5 (+1)	1,535 (-6%)	2mo	$144,990	$94	56
4936 E 40th Pl	0.10mi	3/2.0 (+1)	1,450 (-12%)	14mo	$200,000	$138	55
3920 Vineyard Rd	0.11mi	3/1.0 (+1)	1,406 (-14%)	18mo	$85,000	$60	51
4909 E 41st St	0.22mi	3/2.0 (+1)	1,410 (-14%)	13mo	$199,900	$142	47
4736 E 44th Ter	0.59mi	3/1.5 (+1)	1,448 (-12%)	3mo	$135,000	$93	44
4427 Lawn Ave	0.63mi	3/2.0 (+1)	1,797 (+10%)	10mo	$150,000	$83	37
4632 E 43rd Ter	0.50mi	3/1.0 (+1)	1,400 (-15%)	12mo	$159,500	$114	37
4745 E 44th St	0.59mi	3/2.0 (+1)	1,412 (-14%)	12mo	$84,900	$60	30

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 · 4.42% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.76×
• Total profit: $-8,991
• Equity at exit: $20,129

10-year hold

• IRR: 4.9%
• Equity multiple: 1.38×
• Total profit: $14,551
• Equity at exit: $11,672

Cash invested: $37,800 (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 64130

• Home prices YoY: -21.5%
• Rents YoY: 4.4%
• Active inventory: 187
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,359 high
• Mortgage (P&I): −$708
• Tax from tax record: −$138 /mo · $1,661/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $171

Break-even live

Break-even rent $1,143

Max offer price $135,000

Occupancy floor 82%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4900 E 41st Ter Kansas City, MO	3.0	2.0	1270	$1,500	$1.18	16d	1	0.29mi
3736 Cypress Ave Kansas City, MO	3.0	1.0	1100	$1,200	$1.09	7d	1	0.46mi
3920 Spruce Ave Kansas City, MO	2.0	1.0	1968	$1,195	$0.61	24d	1	0.51mi
4028 Myrtle Ave Kansas City, MO	3.0	1.0	1100	$1,490	$1.35	44d	1	0.69mi
3332 Norton Ave Kansas City, MO	3.0	1.0	1272	$1,350	$1.06	44d	1	0.99mi
3525 Monroe Ave Kansas City, MO	3.0	2.0	1569	$1,500	$0.96	44d	1	1.00mi
3739 Bales Ave Kansas City, MO	3.0	2.0	1400	$1,575	$1.12	24d	1	1.00mi
3818 Indiana Ave Kansas City, MO	3.0	1.5	1223	$1,147	$0.94	44d	1	1.08mi
4144 College Ave Kansas City, MO	3.0	1.0	1108	$1,095	$0.99	24d	1	1.15mi
3305 Askew Ave Kansas City, MO	3.0	1.5	1428	$1,450	$1.02	24d	1	1.24mi
3840 Bellefontaine Ave Kansas City, MO	3.0	1.0	1500	$1,500	$1.00	16d	1	1.26mi
4116 Bellefontaine Ave Kansas City, MO	3.0	1.0	1234	$1,000	$0.81	24d	1	1.27mi
4653 Benton Blvd Kansas City, MO	3.0	2.0	1594	$1,600	$1.00	7d	1	1.28mi
3524 Bellefontaine Ave Kansas City, MO	3.0	1.0	1228	$1,350	$1.10	44d	1	1.36mi
3630 Agnes Ave Kansas City, MO	3.0	2.0	1448	$1,500	$1.04	10d	1	1.37mi
4427 Agnes Ave Kansas City, MO	3.0	1.0	1100	$1,350	$1.23	16d	1	1.41mi

Listing history 32 events

1. 2026-06-18
   days on market $135,000 Active 160 DOM
2. 2026-06-17
   days on market $135,000 Active 159 DOM
3. 2026-06-16
   days on market $135,000 Active 158 DOM
4. 2026-06-15
   days on market $135,000 Active 157 DOM
5. 2026-06-13
   days on market $135,000 Active 155 DOM
6. 2026-06-10
   price $135,000 Active 151 DOM
7. 2026-06-09
   days on market $150,000 Active 151 DOM
8. 2026-06-08
   days on market $150,000 Active 150 DOM
9. 2026-06-07
   days on market $150,000 Active 149 DOM
10. 2026-06-05
    days on market $150,000 Active 146 DOM
11. 2026-06-03
    days on market $150,000 Active 145 DOM
12. 2026-06-02
    days on market $150,000 Active 144 DOM
13. 2026-06-01
    days on market $150,000 Active 143 DOM
14. 2026-05-31
    pricedays on market $150,000 Active 142 DOM
15. 2026-04-21
    status Active 332-char remark

    Show marketing remark (332 chars)

    Offered for sale is this well-maintained classic 2-story traditional home, currently tenant-occupied and delivering immediate rental income. Featuring 4 spacious bedrooms and 2 full bathrooms, this property combines timeless curb appeal with long-term investment potential. Call your favorite agent today to inquire on this listing!

16. 2026-03-13
    historical 332-char remark

    Show marketing remark (332 chars)

    Offered for sale is this well-maintained classic 2-story traditional home, currently tenant-occupied and delivering immediate rental income. Featuring 4 spacious bedrooms and 2 full bathrooms, this property combines timeless curb appeal with long-term investment potential. Call your favorite agent today to inquire on this listing!

17. 2026-02-09
    historical $1,450
18. 2026-02-06
    listed $1,450
19. 2026-01-03
    price $155,000 332-char remark

    Show marketing remark (332 chars)

    Offered for sale is this well-maintained classic 2-story traditional home, currently tenant-occupied and delivering immediate rental income. Featuring 4 spacious bedrooms and 2 full bathrooms, this property combines timeless curb appeal with long-term investment potential. Call your favorite agent today to inquire on this listing!

20. 2025-12-01
    listed $165,000 Active 332-char remark

    Show marketing remark (332 chars)

    Offered for sale is this well-maintained classic 2-story traditional home, currently tenant-occupied and delivering immediate rental income. Featuring 4 spacious bedrooms and 2 full bathrooms, this property combines timeless curb appeal with long-term investment potential. Call your favorite agent today to inquire on this listing!

21. 2025-11-24
    historical
22. 2025-10-21
    listed $165,000 Active
23. 2024-08-20
    soldstatus
24. 2024-08-20
    soldstatus
25. 2023-08-30
    historical
26. 2023-06-26
    listed $160,000 Active
27. 2021-02-25
    soldstatus
28. 2020-01-28
    soldstatus $15,000
29. 2005-04-21
    soldstatus
30. 2005-02-22
    listed $24,500
31. 2004-04-01
    soldstatus
32. 1993-09-27
    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: $1,661 · $138/mo
• Projected year-2 tax: $1,661 · $138/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 · 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: $16,313
• − Mortgage interest: −$7,562
• − Property taxes: −$1,661
• − Insurance: −$675
• − Repairs & maintenance: −$1,305
• − Management: −$1,305
• − Depreciation: −$3,927
• Taxable loss: −$122
• Est. tax savings @ 24.0%: +$29
• After-tax cash flow: $2,086/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): 19,644
• Household income: $42,221
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1132.0

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 (80%)
• Race & ethnicity: Black 80% White 9% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 1% Swedish 0%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -73.32%
• Current HPI: 267.491
• Rent YoY: ▲ 4.42%
• 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

-94.1% since first listed

18 events — show timeline

• 2026-04-21 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-03-13 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-02-09 Rental Removed $1,450 TENANTTURNER2
• 2026-02-06 Listed for Rent $1,450 TENANTTURNER2
• 2026-01-03 Price Changed $155,000 Heartland MLS as Distributed by MLS Grid
• 2025-12-01 Listed $165,000 Heartland MLS as Distributed by MLS Grid
• 2025-11-24 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-10-21 Listed $165,000 Heartland MLS as Distributed by MLS Grid
• 2024-08-20 Sold (Public Records) — Public Records
• 2024-08-20 Sold (Public Records) — Public Records
• 2023-08-30 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2023-06-26 Listed $160,000 Heartland MLS as Distributed by MLS Grid
• 2021-02-25 Sold (Public Records) — Public Records
• 2020-01-28 Sold (Public Records) $15,000 Public Records
• 2005-04-21 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2005-02-22 Listed $24,500 Heartland MLS as Distributed by MLS Grid
• 2004-04-01 Sold (Public Records) — Public Records
• 1993-09-27 Sold (Public Records) — Public Records

Property tax history

+14.8%/yr

Latest (2025): $1,661 · +14.6% YoY. Source: county tax records.