1505 W 39th Ave · Kansas City, KS 66103

$210,000

3 bd · 1.5 ba · 1,636 sqft · SingleFamily public records · 26 Days on market

Built 1900 5,227 sqft 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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Rent growth +3.9/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

GREAT LOCATION! Minutes away from highway access, KU Med, Westport, Power & Light, Downtown, and effortless commute to Johnson County. Updates include kitchen with beautiful quartz countertop, subway tile and brass fixtures, updated bathrooms with luxury vinyl tile, updated lighting. New windows in entire home. All brick for low maintenance. This home comes with open living room to kitchen or use as a dining room and use sitting room on main floor as living/TV room!

Key facts

• Open living room
• Great location
• All brick

Tags

• GREAT LOCATION
• HIGHWAY ACCESS
• UPDATED BATHROOMS
• NEW WINDOWS
• ALL BRICK
• OPEN LIVING ROOM

Property features AI

Finance

• Other: Inside city limits
• HOA & community: No association fees

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two-story floor plan; Residential property
• Construction: Brick construction; Composition roof; Estimated below-grade finished area; Home approximately 101+ years old
• Exterior features: Deck; Porch; City lot; Paved road access; Located in a flood plain

Interior

• Kitchen: Disposal; Microwave; Refrigerator; Electric range; Stainless steel appliances
• Bedrooms: Three bedrooms (two located on the second floor)
• Flooring: Luxury vinyl; Wood flooring
• Bathrooms: One full bathroom with shower-over-tub (second floor); One half bathroom
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Thermal windows; Cellar basement; Den/Study; Formal dining area and kitchen/dining combo
• Laundry & utility: Laundry on main level; Laundry located in bathroom

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $479 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $207k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.7% 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: Thomas A Edison Elem (math 22% / reading 22%, grade F, #569 of 684 statewide, top 85%, 225 students, 88% FRL); J C Harmon High (math 0% / reading 4%, grade F, #326 of 327 statewide, top 100%, 1,330 students, 79% FRL) — zoned schools at 83% FRL track the district average.
• Market conditions: Rents rising fast (+5.8%/yr); 58 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 369 units permitted in Wyandotte County in 2024 (236 in 5+ unit buildings).
• At $2,924/mo this rent would consume 67% of the median local household income ($52k/yr) (locally 805% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Wyandotte County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $59k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y 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: flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,850 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.39% ✓
• Cap rate: 11.66%
• Cash-on-cash: 19.18%
• DSCR: 1.85
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.78% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.09×
• Total profit: $5,172
• Equity at exit: $31,312

10-year hold

• IRR: 14.8%
• Equity multiple: 2.39×
• Total profit: $81,447
• Equity at exit: $18,157

Cash invested: $58,800 (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 66103

• Home prices YoY: -20.2%
• Rents YoY: 5.8%
• Active inventory: 58
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,924 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$182 /mo · $2,179/yr
• Insurance: −$88
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$614
• Net cashflow: $479

Break-even live

Break-even rent $2,317

Max offer price $210,000

Occupancy floor 79%

Sensitivity live

Price	-10% $598	-5% $539	+0% $479	+5% $420	+10% $360
Rent	-10% $248	-5% $364	+0% $479	+5% $595	+10% $710
Rate	-1.0pp $585	-0.5pp $533	base $479	+0.5pp $425	+1.0pp $369

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3600 Rainbow Blvd Kansas City, KS	2.0	1.0–2.0	811	$3,310	$4.08	11d	38	0.94mi
3939 State Line Rd Kansas City, MO	2.0	1.0–2.0	939	$2,740	$2.92	5d	53	1.30mi
4904 Fontana St Roeland Park, KS	3.0	2.0	1834	$2,700	$1.47	15d	1	1.33mi
2200 W 47th Pl Mission, KS	3.0	1.0–2.0	1053	$5,637	$5.35	3d	3	1.45mi
4336 Bell St Kansas City, MO	2.0	3.0	1820	$2,575	$1.41	20d	1	1.46mi

Listing history 41 events

1. 2026-06-21
   statusdays on market $210,000 Pending 26 DOM
2. 2026-06-18
   days on market $210,000 Active 25 DOM
3. 2026-06-17
   days on market $210,000 Active 24 DOM
4. 2026-06-16
   days on market $210,000 Active 23 DOM
5. 2026-06-15
   days on market $210,000 Active 22 DOM
6. 2026-06-13
   days on market $210,000 Active 20 DOM
7. 2026-06-13
   days on market $210,000 Active 19 DOM
8. 2026-06-09
   days on market $210,000 Active 16 DOM
9. 2026-06-08
   days on market $210,000 Active 15 DOM
10. 2026-06-07
    days on market $210,000 Active 14 DOM
11. 2026-06-05
    days on market $210,000 Active 11 DOM
12. 2026-06-03
    days on market $210,000 Active 10 DOM
13. 2026-06-02
    days on market $210,000 Active 9 DOM
14. 2026-06-01
    days on market $210,000 Active 8 DOM
15. 2026-05-31
    statusdays on market $210,000 Active 7 DOM
16. 2026-05-18
    status Pending
17. 2026-05-15
    listed $210,000 Active
18. 2025-06-09
    historical
19. 2025-05-29
    price $220,000
20. 2025-05-20
    price $225,000
21. 2025-05-01
    price $230,000
22. 2025-03-07
    listed $235,000 Active
23. 2024-11-18
    historical
24. 2024-10-09
    price $235,000
25. 2024-09-18
    price $240,000
26. 2024-09-12
    listed $250,000 Active
27. 2022-08-29
    soldstatus
28. 2022-08-26
    soldstatus Closed
29. 2022-07-20
    status Pending
30. 2022-06-23
    price $160,000
31. 2022-06-02
    listed $165,000 Active
32. 2021-10-20
    soldstatus
33. 2014-09-05
    soldstatus
34. 2014-07-31
    listed $30,000
35. 2013-11-05
    historical
36. 2013-06-08
    listed $39,995
37. 2006-12-13
    soldstatus
38. 2006-12-11
    soldstatus
39. 2006-09-14
    listed $82,500
40. 2006-05-04
    soldstatus
41. 2006-05-04
    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 KS · Resets to sale price

• Current annual tax: $2,179 · $182/mo
• Projected year-2 tax: $2,961 · $247/mo
• Expected delta: +$782/yr (+$65/mo · 35.9%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone AE · 24% 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: $35,088
• − Mortgage interest: −$11,763
• − Property taxes: −$2,179
• − Insurance: −$6,575
• − Repairs & maintenance: −$2,807
• − Management: −$2,807
• − Depreciation: −$6,109
• Taxable income: $2,847
• Est. tax owed @ 24.0%: −$683
• After-tax cash flow: $5,067/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): 12,730
• Household income: $52,479
• Rent vs Own: 59.4% rent · 40.6% own
• Severe rent burden: 805.0

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 0.69)
• Race & ethnicity: White 45% Hispanic / Latino 31% Two or more races 12% Black 12% Asian 6% Native American 3%
• Hispanic origin (detail): Mexican 26% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Italian 1% Iranian 1%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 74% English-only · Spanish 20% Other Indo-European 1% Other Asian/Pacific 1%

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: ▼ -93.15%
• Current HPI: 368.8332
• Rent YoY: ▲ 5.78%
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+154.5% since first listed

26 events — show timeline

• 2026-05-18 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-15 Listed $210,000 Heartland MLS as Distributed by MLS Grid
• 2025-06-09 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-05-29 Price Changed $220,000 Heartland MLS as Distributed by MLS Grid
• 2025-05-20 Price Changed $225,000 Heartland MLS as Distributed by MLS Grid
• 2025-05-01 Price Changed $230,000 Heartland MLS as Distributed by MLS Grid
• 2025-03-07 Listed $235,000 Heartland MLS as Distributed by MLS Grid
• 2024-11-18 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-10-09 Price Changed $235,000 Heartland MLS as Distributed by MLS Grid
• 2024-09-18 Price Changed $240,000 Heartland MLS as Distributed by MLS Grid
• 2024-09-12 Listed $250,000 Heartland MLS as Distributed by MLS Grid
• 2022-08-29 Sold (Public Records) — Public Records
• 2022-08-26 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2022-07-20 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-06-23 Price Changed $160,000 Heartland MLS as Distributed by MLS Grid
• 2022-06-02 Listed $165,000 Heartland MLS as Distributed by MLS Grid
• 2021-10-20 Sold (Public Records) — Public Records
• 2014-09-05 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2014-07-31 Listed $30,000 Heartland MLS as Distributed by MLS Grid
• 2013-11-05 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2013-06-08 Listed $39,995 Heartland MLS as Distributed by MLS Grid
• 2006-12-13 Sold (Public Records) — Public Records
• 2006-12-11 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2006-09-14 Listed $82,500 Heartland MLS as Distributed by MLS Grid
• 2006-05-04 Sold (Public Records) — Public Records
• 2006-05-04 Sold (Public Records) — Public Records

Property tax history

+4.4%/yr

Latest (2025): $2,179 · -11.3% YoY. Source: county tax records.