8331 Greeley Ave · Kansas City, KS 66109

$239,000

2 bd · 2.0 ba · 1,069 sqft · MultiFamily public records · 22 Days on market

Built 2003 2,004 sqft lot $160/mo HOA · 12% of rent

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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 +20.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +6.2/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

"The IMPERIAL!" LARGEST Floorplan in the subdivision! PERFECT Condition! An INDEPENDENT Living Community! Never MOW Grass or SHOVEL Snow Again! NEW CARPET! NEWER High Efficiency HVAC Heat Pump System! HUGE Master Bedroom with 6'x9' MASTER Closet! Wheelchair Friendly NO STEPS! Classy Country Kitchen w/ Birch Cabinets & PANTRY! Over-Sized 2-CAR Garage! Washer & Dryer! Nice Back Patio Off Great Room! Built-In Entertainment Center. MOVE-ON Condition! Community Center w/ Basement for Resident Use. 1 Block from The YMCA! 2 Miles from -- THE LEGENDS, Village West Shopping District, Sporting KC, Cerner, Kansas Speedway, Nebraska Furniture Mart, T-Bones Stadium, Cabele's, Schlitterbahn, Great Wolf Lodge! The hottest spot in KC!!!

Key facts

• Outdoor dining
• Cozy fireplace
• Patio

Tags

• COZY FIREPLACE
• STAINLESS STEEL APPLIANCES
• ACCENT BACKSPLASH
• OUTDOOR DINING
• PATIO

Property features AI

Finance

• HOA & community: Parkway Village Homeowners Association, $160 monthly; Senior community

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; One-story (ranch)
• Construction: Vinyl siding with stone trim; Composition roof; Built 21–30 years ago
• Exterior features: Lot approximately 2,004 square feet

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Electric cooling (has cooling)
• Interior features: Ranch floor plan; Slab foundation

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $239k.

Deal economics

• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $239k).
• Recommended offer: $235k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% 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: Washington High (math 0% / reading 3%, grade F, #327 of 327 statewide, top 100%, 1,114 students, 75% FRL).
• Market conditions: Rents soft (-1.8%/yr); 239 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 369 units permitted in Wyandotte County in 2024 (236 in 5+ unit buildings).
• This rent runs 31% of the median local income ($103k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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 $235,415 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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 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: 1.12% ✓
• Cap rate: 7.76%
• Cash-on-cash: 5.23%
• DSCR: 1.23
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.9%
• Equity multiple: 0.58×
• Total profit: $-27,810
• Equity at exit: $35,636

10-year hold

• IRR: -8.4%
• Equity multiple: 0.55×
• Total profit: $-29,895
• Equity at exit: $20,664

Cash invested: $66,920 (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 66109

• Rents YoY: -1.8%
• Active inventory: 239
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $2,665 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$301 /mo · $3,607/yr
• Insurance: −$100
• HOA: −$160
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $292

Break-even live

Break-even rent $2,296

Max offer price $239,000

Occupancy floor 84%

Sensitivity live

Price	-10% $427	-5% $360	+0% $292	+5% $224	+10% $157
Rent	-10% $81	-5% $187	+0% $292	+5% $397	+10% $502
Rate	-1.0pp $412	-0.5pp $353	base $292	+0.5pp $230	+1.0pp $167

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,664
Total (2 units)			$2,665

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2209 N 82nd Ter Kansas City, KS	3.0	3.0	1190	$2,100	$1.76	5d	1	0.16mi
8343 Leavenworth Rd Kansas City, KS	1.0–2.0	1.0	654	$1,049	$1.60	15d	4	0.81mi
8230 Monroe Dr Kansas City, KS	1.0–2.0	1.0	650	$1,299	$2.00	24d	2	1.07mi
1500 N 74th St Kansas City, KS	3.0–4.0	2.0	1250	$1,475	$1.18	2d	1	1.26mi

HOA detail

• Monthly dues: $160 · $1,920/yr

Listing history 8 events

1. 2026-05-22
   status Pending
2. 2026-05-14
   price $239,000
3. 2026-04-30
   listed $245,000 Active
4. 2015-09-15
   soldstatus 752-char remark

   Show marketing remark (752 chars)

   "The IMPERIAL!" LARGEST Floorplan in the subdivision! PERFECT Condition! An INDEPENDENT Living Community! Never MOW Grass or SHOVEL Snow Again! NEW CARPET! NEWER High Efficiency HVAC Heat Pump System! HUGE Master Bedroom with 6'x9' MASTER Closet! Wheelchair Friendly NO STEPS! Classy Country Kitchen w/ Birch Cabinets & PANTRY! Over-Sized 2-CAR Garage! Washer & Dryer! Nice Back Patio Off Great Room! Built-In Entertainment Center. MOVE-ON Condition! Community Center w/ Basement for Resident Use. 1 Block from The YMCA! 2 Miles from -- THE LEGENDS, Village West Shopping District, Sporting KC, Cerner, Kansas Speedway, Nebraska Furniture Mart, T-Bones Stadium, Cabele's, Schlitterbahn, Great Wolf Lodge! The hottest spot in KC!!!

5. 2015-09-15
   soldstatus

   Show marketing remark (752 chars)

   "The IMPERIAL!" LARGEST Floorplan in the subdivision! PERFECT Condition! An INDEPENDENT Living Community! Never MOW Grass or SHOVEL Snow Again! NEW CARPET! NEWER High Efficiency HVAC Heat Pump System! HUGE Master Bedroom with 6'x9' MASTER Closet! Wheelchair Friendly NO STEPS! Classy Country Kitchen w/ Birch Cabinets & PANTRY! Over-Sized 2-CAR Garage! Washer & Dryer! Nice Back Patio Off Great Room! Built-In Entertainment Center. MOVE-ON Condition! Community Center w/ Basement for Resident Use. 1 Block from The YMCA! 2 Miles from -- THE LEGENDS, Village West Shopping District, Sporting KC, Cerner, Kansas Speedway, Nebraska Furniture Mart, T-Bones Stadium, Cabele's, Schlitterbahn, Great Wolf Lodge! The hottest spot in KC!!!

6. 2015-08-01
   listed $124,000 752-char remark

   Show marketing remark (752 chars)

   "The IMPERIAL!" LARGEST Floorplan in the subdivision! PERFECT Condition! An INDEPENDENT Living Community! Never MOW Grass or SHOVEL Snow Again! NEW CARPET! NEWER High Efficiency HVAC Heat Pump System! HUGE Master Bedroom with 6'x9' MASTER Closet! Wheelchair Friendly NO STEPS! Classy Country Kitchen w/ Birch Cabinets & PANTRY! Over-Sized 2-CAR Garage! Washer & Dryer! Nice Back Patio Off Great Room! Built-In Entertainment Center. MOVE-ON Condition! Community Center w/ Basement for Resident Use. 1 Block from The YMCA! 2 Miles from -- THE LEGENDS, Village West Shopping District, Sporting KC, Cerner, Kansas Speedway, Nebraska Furniture Mart, T-Bones Stadium, Cabele's, Schlitterbahn, Great Wolf Lodge! The hottest spot in KC!!!

7. 2003-06-09
   soldstatus 309-char remark

   Show marketing remark (309 chars)

   "The Imperial". An independent living community. High efficiency patio homes featuring vinyl & stone exteriors, knockdown ceilings, wlk-in clsts, smoothtop electric stove & microwave in a spacious country kit. , entert. center. Lawn & snow removal provided. Age restrictions apply.

8. 2003-02-18
   listed $114,700 309-char remark

   Show marketing remark (309 chars)

   "The Imperial". An independent living community. High efficiency patio homes featuring vinyl & stone exteriors, knockdown ceilings, wlk-in clsts, smoothtop electric stove & microwave in a spacious country kit. , entert. center. Lawn & snow removal provided. Age restrictions apply.

ⓘ 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: $3,607 · $301/mo
• Projected year-2 tax: $3,607 · $301/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,980
• − Mortgage interest: −$13,388
• − Property taxes: −$3,607
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,558
• − Management: −$2,558
• − HOA: −$1,920
• − Depreciation: −$6,953
• Taxable loss: −$199
• Est. tax savings @ 24.0%: +$48
• After-tax cash flow: $3,550/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): 28,355
• Household income: $102,593
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 285.0

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 0.64)
• Race & ethnicity: White 55% Black 18% Hispanic / Latino 13% Two or more races 13% Asian 7%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 9% · Canada, Philippines, China
• Languages at home: 88% English-only · Spanish 5% Other Asian/Pacific 5% Vietnamese 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: ▼ -242.32%
• Current HPI: 182.7335
• Rent YoY: ▼ -1.79%
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+108.4% since first listed

8 events — show timeline

• 2026-05-22 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-14 Price Changed $239,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-30 Listed $245,000 Heartland MLS as Distributed by MLS Grid
• 2015-09-15 Sold (Public Records) — Public Records
• 2015-09-15 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2015-08-01 Listed $124,000 Heartland MLS as Distributed by MLS Grid
• 2003-06-09 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2003-02-18 Listed $114,700 Heartland MLS as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2025): $3,607 · +8.9% YoY. Source: county tax records.