912 Bales Ave · Kansas City, MO 64124

$265,000

8 bd · 4.0 ba · 2,912 sqft · MultiFamily public records · 57 Days on market

Built 1925 6,361 sqft lot Est $289k · 8% under

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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
• ARV discount +11.3/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Two story four plex, two units leased through July 2026 with long term occupants. Each unit has separate easy entry through front door, hardwood floors, one bed and one bath, separately metered. Ample parking option in rear of building. Bus line access. Whether it’s through strategic rental adjustments or further property enhancements, this property offers multiple avenues to boost its income potential.

Key facts

• Two story four plex
• Bus line access
• Separate easy entry

Tags

• TWO STORY FOUR PLEX
• SEPARATE EASY ENTRY
• HARDWOOD FLOORS
• AMPLE PARKING OPTION
• BUS LINE ACCESS

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/?-bath units multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $990 ($12k/yr) — positive. Per door: $495/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $257k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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 (+2.2%/yr); 52 active listings in the ZIP; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $3,252/mo this rent would consume 84% of the median local household income ($46k/yr) (locally 541% 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 $2k of loan paydown is wiped out by about $8k 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.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $74k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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.
• Current owner paid $159k; list at $265k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $257,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.23% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.01%
• DSCR: 1.71
• GRM: 6.8

CMA / ARV

• ARV (median comp): $289,109
• List price: $265,000
• Delta: -8.34%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.2% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.23×
• Total profit: $17,405
• Equity at exit: $39,512

10-year hold

• IRR: 14.8%
• Equity multiple: 2.15×
• Total profit: $85,426
• Equity at exit: $22,912

Cash invested: $74,200 (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 64124

• Home prices YoY: -26.0%
• Rents YoY: 2.2%
• Active inventory: 52
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $3,252 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$79 /mo · $948/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$683
• Net cashflow: $990

Break-even live

Break-even rent $1,999

Max offer price $265,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	—	$3,252
Total (2 units)			$3,252

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $265,000 Active 57 DOM
2. 2026-06-17
   days on market $265,000 Active 56 DOM
3. 2026-06-16
   days on market $265,000 Active 55 DOM
4. 2026-06-15
   days on market $265,000 Active 54 DOM
5. 2026-06-13
   days on market $265,000 Active 52 DOM
6. 2026-06-09
   days on market $265,000 Active 48 DOM
7. 2026-06-08
   days on market $265,000 Active 47 DOM
8. 2026-06-07
   days on market $265,000 Active 46 DOM
9. 2026-06-05
   days on market $265,000 Active 43 DOM
10. 2026-06-03
    days on market $265,000 Active 42 DOM
11. 2026-06-02
    days on market $265,000 Active 41 DOM
12. 2026-06-01
    days on market $265,000 Active 40 DOM
13. 2026-05-31
    days on market $265,000 Active 39 DOM
14. 2026-04-22
    listed $265,000 Active 412-char remark

    Show marketing remark (412 chars)

    Two story four plex, two units leased through July 2026 with long term occupants. Each unit has separate easy entry through front door, hardwood floors, one bed and one bath, separately metered. Ample parking option in rear of building. Bus line access. Whether it’s through strategic rental adjustments or further property enhancements, this property offers multiple avenues to boost its income potential.

15. 2026-04-22
    historical

    Show marketing remark (412 chars)

    Two story four plex, two units leased through July 2026 with long term occupants. Each unit has separate easy entry through front door, hardwood floors, one bed and one bath, separately metered. Ample parking option in rear of building. Bus line access. Whether it’s through strategic rental adjustments or further property enhancements, this property offers multiple avenues to boost its income potential.

16. 2026-04-15
    listed $265,000 Active
17. 2019-04-12
    soldstatus
18. 2019-04-11
    soldstatus Sold
19. 2019-04-11
    listed $60,000
20. 2012-11-13
    historical
21. 2012-06-16
    listed $65,000
22. 2012-01-25
    soldstatus $159,000
23. 2010-03-16
    soldstatus
24. 2008-08-25
    listed $69,900

ⓘ 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: $948 · $79/mo
• Projected year-2 tax: $2,570 · $214/mo
• Expected delta: +$1,622/yr (+$135/mo · 171.0%)

ⓘ 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 ≥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: $39,024
• − Mortgage interest: −$14,844
• − Property taxes: −$948
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,122
• − Management: −$3,122
• − Depreciation: −$7,709
• Taxable income: $7,954
• Est. tax owed @ 24.0%: −$1,909
• After-tax cash flow: $9,970/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): 10,925
• Household income: $46,241
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 541.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 43% White 30% Black 20% Two or more races 10% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 30% Cuban 1%
• Common ancestry: Italian 2% Hispanic 1% Serbian 1%
• Foreign-born: 32% · Canada, Vietnam
• Languages at home: 52% English-only · Spanish 35% Vietnamese 2% Arabic 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: ▼ -125.95%
• Current HPI: 358.4244
• Rent YoY: ▲ 2.20%
• 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

+279.1% since first listed

11 events — show timeline

• 2026-04-22 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-04-22 Listed $265,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-15 Listed $265,000 Heartland MLS as Distributed by MLS Grid
• 2019-04-12 Sold (Public Records) — Public Records
• 2019-04-11 Listed $60,000 Heartland MLS as Distributed by MLS Grid
• 2019-04-11 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2012-11-13 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2012-06-16 Listed $65,000 Heartland MLS as Distributed by MLS Grid
• 2012-01-25 Sold (Public Records) $159,000 Public Records
• 2010-03-16 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2008-08-25 Listed $69,900 Heartland MLS as Distributed by MLS Grid

Property tax history

+6.9%/yr

Latest (2025): $948 · -42.3% YoY. Source: county tax records.