115 Sherri Ln · Excelsior Springs, MO 64024

$185,000

3 bd · 1.0 ba · 904 sqft · SingleFamily public records · 3 Days on market

Built 1970 8,276 sqft lot Est $188k · 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 +12.2/30.0
• ARV discount +8.2/15.0
• DSCR +3.6/10.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This family home is looking for someone to show it the needed TLC to bring it back to it's glory. Tons of potential! Located in a nice neighborhood. Sold As-is, any inspections are for buyers knowledge only.

Key facts

• Fenced yard
• Finished basement
• Flat yard

Tags

• FENCED YARD
• FLAT YARD
• FINISHED BASEMENT

Property features AI

Finance

• Other: Not in a flood plain; Age approximately 51–75 years; Above-grade finished area recorded (assessor); Below-grade finished area recorded (assessor)
• HOA & community: No association fees

Exterior

• Parking: Attached garage (faces front), 1 garage space
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; Fiber available; High-speed internet available
• Home design: Residential single-family home; Side/side split; Located inside city limits
• Construction: Vinyl siding; Composition roof
• Exterior features: Patio; Metal fencing; Shed(s); City lot; Paved road access

Interior

• Kitchen: Refrigerator; Microwave; Free-standing electric oven
• Bedrooms: 3 bedrooms (all on the first floor)
• Flooring: Carpet
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Ceiling fan(s); Thermal windows; Side/side split floor plan; Smoke detector(s)
• Laundry & utility: Washer; Dryer; Laundry on the lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-37 ($-445/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (3.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (22.5% below list).
• Recommended offer: $143k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.6% in Excelsior Springs — 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 67/100 on livability (#228 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Excelsior Springs 40 (town): math 27% / reading 40% proficiency, ranked #225 of 324 in MO (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Excelsior Springs Ear Chld Ctr (155 students, 50% FRL); Excelsior Springs High (math 12% / reading 62%, grade F, #291 of 521 statewide, top 60%, 787 students, 37% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: 122 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 341 units permitted in Clay County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Clay County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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.

Recommended offer $143,373 (22.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1970 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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 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: 0.77% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.86%
• DSCR: 0.96
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $188,032
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
208 Carla St	0.11mi	3/1.5	1,026 (+14%)	0mo	$245,000	$239	70
1321 N Jesse James Rd	0.40mi	3/1.0	956 (+6%)	3mo	$49,000	$51	69
221 Lynn Rd	0.12mi	3/1.0	1,008 (+12%)	24mo	$180,000	$179	55
316 May St	0.58mi	2/1.0 (-1)	864 (-4%)	7mo	$180,000	$208	55
311 May St	0.61mi	2/2.0 (-1)	792 (-12%)	14mo	$180,000	$227	30
817 Rowell Ave	0.66mi	2/1.0 (-1)	1,030 (+14%)	22mo	$205,000	$199	23

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.7%
• Equity multiple: 0.37×
• Total profit: $-32,385
• Equity at exit: $27,584

10-year hold

• IRR: -9.9%
• Equity multiple: 0.39×
• Total profit: $-31,425
• Equity at exit: $15,995

Cash invested: $51,800 (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 64024

• Home prices YoY: -15.3%
• Active inventory: 122
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,434 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$122 /mo · $1,470/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $-37

Break-even live

Break-even rent $1,481

Max offer price $178,449

Occupancy floor 98%

Sensitivity live

Price	-10% $68	-5% $15	+0% $-37	+5% $-89	+10% $-142
Rent	-10% $-150	-5% $-94	+0% $-37	+5% $20	+10% $76
Rate	-1.0pp $56	-0.5pp $10	base $-37	+0.5pp $-85	+1.0pp $-134

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
701 Tiger Dr Excelsior Springs, MO	2.0	1.5	800	$1,250	$1.56	3d	1	0.69mi
410 N Titus Ave Excelsior Springs, MO	3.0	2.0	910	$1,476	$1.62	45d	1	1.07mi
317 Woods St Excelsior Springs, MO	2.0	1.0	884	$1,350	$1.53	3d	1	1.16mi
1406 Magnolia W Excelsior Springs, MO	2.0	1.0	750	$895	$1.19	22d	2	1.17mi

Listing history 4 events

1. 2026-06-02
   status $185,000 Pending 3 DOM
2. 2026-06-01
   days on market $185,000 Active 3 DOM
3. 2026-05-31
   remarks 319-char remark
4. 2026-05-31
   days on market $185,000 Active 2 DOM

ⓘ 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: $1,470 · $122/mo
• Projected year-2 tax: $1,794 · $150/mo
• Expected delta: +$325/yr (+$27/mo · 22.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,205
• − Mortgage interest: −$10,363
• − Property taxes: −$1,470
• − Insurance: −$925
• − Repairs & maintenance: −$1,376
• − Management: −$1,376
• − Depreciation: −$5,382
• Taxable loss: −$3,688
• Est. tax savings @ 24.0%: +$885
• After-tax cash flow: $440/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: Excelsior Springs 40
• NCES district ID: 2911650
• Math proficiency: 27% ▼ -6.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $52,747
• Composite: 29.32/100
• National rank: #6548
• State rank: #225 of 324 in MO

Livability — Excelsior Springs

• Score: 67/100
• State rank: #228
• US rank: #11166

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Excelsior Springs, MO
• County: Clay County · 220,651 people
• City population: 15,574
• Metro: Kansas City, MO-KS
• Population (ZIP): 15,574
• Household income: $77,895
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 329.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 266,022 people
• By 2030: 280,057 · +5.3%
• By 2040: 306,153 · +15.1%
• By 2050: 328,630 · +23.5%
• By 2075: 375,182 · +41.0%
• By 2100: 392,861 · +47.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Hispanic / Latino 6% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 4% Cuban 2%
• Common ancestry: Italian 2% Serbian 2% Portuguese 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Clay

• 2024 margin: Lean R (+5.6) · D 46.4% · R 52.0% · Other 1.6%
• 2008→2024 swing: -4.9pp toward R · 2008: -0.7pp · 2024: -5.6pp
• All cycles: 2024: R+5.6 2020: R+4.1 2016: R+11.1 2012: R+8.4 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.83%
• Current HPI: 302.9184
• Rent YoY: —
• 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

+363.7% since first listed

4 events — show timeline

• 2026-05-29 Listed $185,000 Heartland MLS as Distributed by MLS Grid
• 2021-08-31 Sold (Public Records) — Public Records
• 2014-01-22 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2013-12-20 Listed $39,900 Heartland MLS as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2025): $1,470 · +13.6% YoY. Source: county tax records.