17201 E 32nd St #9 · Independence, MO 64055

$113,000

2 bd · 1.0 ba · 856 sqft · Condo public records · 70 Days on market

Built 2002 $132/sqft · 7% below area Est $121k · 7% under $340/mo HOA · 27% 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).

• ARV discount +10.6/15.0
• Cash flow +8.2/30.0
• 1% rule +6.0/10.0
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained 2-bedroom, 1-bath condo, offering the perfect blend of comfort and convenience. Located in a quiet neighborhood with easy access to both 291 and I-70, this home provides the ideal retreat while keeping you close to everything you need. Step inside to find a spacious and bright open floor plan with new carpet throughout, large windows that bring great natural light. The generous living room is perfect for relaxing or entertaining. The kitchen features laundry hookups and ample space, with a stove and dishwasher. And a pantry with ample room for grocery and appliance storage. Both bedrooms are a decent size and offer plenty of room for your personal style. The cozy fireplace could add warmth and charm, creating the perfect atmosphere for those cooler evenings. Outside, enjoy your own private deck — a great space for outdoor living. For added convenience, the property includes a detached garage with an opener, ensuring secure parking and extra storage. This condo combines low-maintenance living with comfort and style, in great location to quick access to the highway.

Key facts

• $340 HOA
• Garage
• Built 2002

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $113k.

Deal economics

• At list price, monthly cash flow is $-105 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $94k (16.5% below list).
• Meets the 1% rule at list price ($1k rent vs $113k).
• Recommended offer: $94k (16.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 82/100 on livability (#10 in MO, #1,296 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, employment D+, crime F.
• Independence 30 (suburban): math 26% / reading 38% proficiency, ranked #252 of 324 in MO (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.1%/yr); 202 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $781 of loan paydown is wiped out by about $3k 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 70 days — a 6% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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: HOA is 27% of rent.

Recommended offer $94,395 (16.5% 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. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.10% ✓
• Cap rate: 5.17%
• Cash-on-cash: -3.99%
• DSCR: 0.82
• GRM: 7.6

CMA / ARV

• ARV (median comp): $121,250
• List price: $113,000
• Delta: -6.80%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.09% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.30×
• Total profit: $-22,133
• Equity at exit: $16,849

10-year hold

• IRR: -6.8%
• Equity multiple: 0.51×
• Total profit: $-15,597
• Equity at exit: $9,770

Cash invested: $31,640 (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 64055

• Rents YoY: 5.1%
• Active inventory: 202
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,247 high
• Mortgage (P&I): −$593
• Tax from tax record: −$111 /mo · $1,329/yr
• Insurance: −$47
• HOA: −$340
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $-105

Break-even live

Break-even rent $1,380

Max offer price $94,395

Occupancy floor —

Sensitivity live

Price	-10% $-41	-5% $-73	+0% $-105	+5% $-137	+10% $-169
Rent	-10% $-204	-5% $-155	+0% $-105	+5% $-56	+10% $-7
Rate	-1.0pp $-48	-0.5pp $-77	base $-105	+0.5pp $-135	+1.0pp $-164

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: $28,250
• Closing costs: $3,390
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3151 Jennings Rd Independence, MO	1.0	1.0	633	$990	$1.56	5d	3	0.06mi
16428 E 29th Street Ct S Unit B Independence, MO	2.0	1.5	826	$1,277	$1.55	24d	1	0.64mi
16801 E Larkspur Ln Independence, MO	1.0–3.0	1.0–2.0	1125	$1,348	$1.20	2d	7	0.65mi
16801 E Larkspur Ln Independence, MO	1.0–3.0	1.0–2.0	1042	$1,252	$1.20	44d	26	0.65mi
16301 E 29 St S Independence, MO	1.0–2.0	1.0	718	$1,400	$1.95	17d	16	0.66mi
2905 S Lee's Summit Rd Independence, MO	1.0–3.0	1.0–2.0	853	$1,330	$1.56	2d	48	0.86mi
3926 S Redwood Dr Independence, MO	2.0	1.0	945	$1,050	$1.11	24d	1	0.99mi
3605 S Stayton Ave Independence, MO	3.0	2.0	1078	$1,631	$1.51	8d	1	1.14mi
19012 E 37th Ter S Independence, MO	1.0–2.0	1.0–2.0	936	$1,515	$1.62	2d	1	1.28mi

HOA detail condo

• Monthly dues: $340 · $4,080/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-05-13
   status Pending 1118-char remark

   Show marketing remark (1118 chars)

   Welcome to this well-maintained 2-bedroom, 1-bath condo, offering the perfect blend of comfort and convenience. Located in a quiet neighborhood with easy access to both 291 and I-70, this home provides the ideal retreat while keeping you close to everything you need. Step inside to find a spacious and bright open floor plan with new carpet throughout, large windows that bring great natural light. The generous living room is perfect for relaxing or entertaining. The kitchen features laundry hookups and ample space, with a stove and dishwasher. And a pantry with ample room for grocery and appliance storage. Both bedrooms are a decent size and offer plenty of room for your personal style. The cozy fireplace could add warmth and charm, creating the perfect atmosphere for those cooler evenings. Outside, enjoy your own private deck — a great space for outdoor living. For added convenience, the property includes a detached garage with an opener, ensuring secure parking and extra storage. This condo combines low-maintenance living with comfort and style, in great location to quick access to the highway.

2. 2026-04-29
   price $113,000 1118-char remark

   Show marketing remark (1118 chars)

   Welcome to this well-maintained 2-bedroom, 1-bath condo, offering the perfect blend of comfort and convenience. Located in a quiet neighborhood with easy access to both 291 and I-70, this home provides the ideal retreat while keeping you close to everything you need. Step inside to find a spacious and bright open floor plan with new carpet throughout, large windows that bring great natural light. The generous living room is perfect for relaxing or entertaining. The kitchen features laundry hookups and ample space, with a stove and dishwasher. And a pantry with ample room for grocery and appliance storage. Both bedrooms are a decent size and offer plenty of room for your personal style. The cozy fireplace could add warmth and charm, creating the perfect atmosphere for those cooler evenings. Outside, enjoy your own private deck — a great space for outdoor living. For added convenience, the property includes a detached garage with an opener, ensuring secure parking and extra storage. This condo combines low-maintenance living with comfort and style, in great location to quick access to the highway.

3. 2026-03-05
   listed $115,000 Active 1118-char remark

   Show marketing remark (1118 chars)

   Welcome to this well-maintained 2-bedroom, 1-bath condo, offering the perfect blend of comfort and convenience. Located in a quiet neighborhood with easy access to both 291 and I-70, this home provides the ideal retreat while keeping you close to everything you need. Step inside to find a spacious and bright open floor plan with new carpet throughout, large windows that bring great natural light. The generous living room is perfect for relaxing or entertaining. The kitchen features laundry hookups and ample space, with a stove and dishwasher. And a pantry with ample room for grocery and appliance storage. Both bedrooms are a decent size and offer plenty of room for your personal style. The cozy fireplace could add warmth and charm, creating the perfect atmosphere for those cooler evenings. Outside, enjoy your own private deck — a great space for outdoor living. For added convenience, the property includes a detached garage with an opener, ensuring secure parking and extra storage. This condo combines low-maintenance living with comfort and style, in great location to quick access to the highway.

4. 2026-02-24
   historical $115,000 1118-char remark

   Show marketing remark (1118 chars)

   Welcome to this well-maintained 2-bedroom, 1-bath condo, offering the perfect blend of comfort and convenience. Located in a quiet neighborhood with easy access to both 291 and I-70, this home provides the ideal retreat while keeping you close to everything you need. Step inside to find a spacious and bright open floor plan with new carpet throughout, large windows that bring great natural light. The generous living room is perfect for relaxing or entertaining. The kitchen features laundry hookups and ample space, with a stove and dishwasher. And a pantry with ample room for grocery and appliance storage. Both bedrooms are a decent size and offer plenty of room for your personal style. The cozy fireplace could add warmth and charm, creating the perfect atmosphere for those cooler evenings. Outside, enjoy your own private deck — a great space for outdoor living. For added convenience, the property includes a detached garage with an opener, ensuring secure parking and extra storage. This condo combines low-maintenance living with comfort and style, in great location to quick access to the highway.

5. 2021-06-04
   soldstatus
6. 2021-06-01
   soldstatus Closed 276-char remark

   Show marketing remark (276 chars)

   Perfect Condo that is less than rent. Great location close to shopping, theaters and restaurants. This unit is on the 3rd floor & has a garage & deck off of the Living Rm with lovely view. Washer, dryer & refrigerator included. Carpet allowance is included.

7. 2021-04-29
   status Pending 276-char remark

   Show marketing remark (276 chars)

   Perfect Condo that is less than rent. Great location close to shopping, theaters and restaurants. This unit is on the 3rd floor & has a garage & deck off of the Living Rm with lovely view. Washer, dryer & refrigerator included. Carpet allowance is included.

8. 2021-03-22
   listed $99,000 Active 276-char remark

   Show marketing remark (276 chars)

   Perfect Condo that is less than rent. Great location close to shopping, theaters and restaurants. This unit is on the 3rd floor & has a garage & deck off of the Living Rm with lovely view. Washer, dryer & refrigerator included. Carpet allowance is included.

9. 2006-08-16
   soldstatus
10. 2005-12-17
    listed $87,950

ⓘ 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: $1,329 · $111/mo
• Projected year-2 tax: $1,329 · $111/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $14,963
• − Mortgage interest: −$6,330
• − Property taxes: −$1,329
• − Insurance: −$565
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − HOA: −$4,080
• − Depreciation: −$3,287
• Taxable loss: −$3,022
• Est. tax savings @ 24.0%: +$725
• After-tax cash flow: $-539/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: Independence 30
• NCES district ID: 2915480
• Math proficiency: 26% ▼ -8.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $41,843
• Composite: 27.04/100
• National rank: #7054
• State rank: #252 of 324 in MO

Livability — Independence

• Score: 82/100
• State rank: #10
• US rank: #1296

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, MO
• County: Jackson County · 687,798 people
• City population: 117,675
• Metro: Kansas City, MO-KS
• Population (ZIP): 35,960
• Household income: $62,439
• Rent vs Own: 30.4% rent · 69.6% own
• Severe rent burden: 1404.0

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 White (71%)
• Race & ethnicity: White 71% Black 13% Hispanic / Latino 10% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Italian 9% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4%

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: ▼ -180.54%
• Current HPI: 245.3636
• Rent YoY: ▲ 5.09%
• 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

+28.5% since first listed

10 events — show timeline

• 2026-05-13 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-29 Price Changed $113,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-05 Listed $115,000 Heartland MLS as Distributed by MLS Grid
• 2026-02-24 Coming Soon $115,000 Heartland MLS as Distributed by MLS Grid
• 2021-06-04 Sold (Public Records) — Public Records
• 2021-06-01 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2021-04-29 Pending — Heartland MLS as Distributed by MLS Grid
• 2021-03-22 Listed $99,000 Heartland MLS as Distributed by MLS Grid
• 2006-08-16 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2005-12-17 Listed $87,950 Heartland MLS as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2025): $1,329 · +7.4% YoY. Source: county tax records.