1806 Gates Dr W · Platte City, MO 64079

$285,000

3 bd · 2.0 ba · 2,000 sqft · SingleFamily public records · 18 Days on market

Built 1992 0.36 ac lot $142/sqft · 13% below area Est $326k · 13% under

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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 +13.2/15.0
• Cash flow +9.1/30.0
• Schools +4.8/10.0
• Livability +3.8/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated ranch with gorgeous new baths with custom flooring, IKEA vanity, new tub, gorgeous subway tile backsplash in baths and kitchen! New custom laminate "wood" look flooring on main. Fresh interior paint thru-out. Nicely updated kitchen with custom painted cabinets and new counters. Huge finished basement with large rec area, full bath and bonus non-conforming 4th bedroom or office. New elementary school opens fall 2016. Please note yard extends past fenced area to the creeek

Key facts

• 0.36 acre lot
• Garage
• Built 1992

Property features AI

Finance

• Other: Approximately 2,000 total living area (above and below grade finished areas of about 1,000 each); Home warranty provided by CHOICE (seller provides)

Exterior

• Parking: Attached garage with garage door opener (1-car)
• Utilities: Public water; Public sewer; High-speed internet available
• Home design: Single-family ranch home; South-facing
• Construction: Frame construction; Composition roof
• Exterior features: Deck; Porch; Metal fencing; Shed(s); City lot within city limits

Interior

• Kitchen: Laminate counters; Electric range; Microwave; Dishwasher; Refrigerator; Disposal
• Bedrooms: 3 bedrooms (all on the main level); Main floor bedroom with walk-in closet and ceiling fan; Additional bedrooms with ceiling fan
• Flooring: Carpet; Ceramic tile; Luxury vinyl
• Bathrooms: 2 full bathrooms; Shower over tub; Ceramic tile finishes in bathrooms
• Heating & cooling: Electric heating; Heat pump for heating and cooling; Has cooling
• Interior features: Ceiling fans; Walk-in closets; Main floor primary bedroom; Main floor bedroom; Family room
• Laundry & utility: Washer; Dryer; Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-219 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $246k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (27.4% below list).
• Recommended offer: $207k (27.4% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 2.1% in Platte 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 76/100 on livability (#42 in MO, #3,472 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, amenities F, commute F.
• Platte County R-III (town): math 48% / reading 60% proficiency, ranked #22 of 324 in MO (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Compass Elementary (math 53% / reading 64%, grade B-, #151 of 1,115 statewide, top 13%, 553 students, 24% FRL); Platte County High (math 46% / reading 63%, grade C-, #69 of 521 statewide, top 15%, 1,330 students, 21% FRL) — zoned schools at 23% FRL track the district average.
• Market conditions: 124 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 234 units permitted in Platte County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Platte County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $206,790 (27.4% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
5. 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.
6. 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.
7. 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: 0.73% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.29%
• DSCR: 0.85
• GRM: 11.5

CMA / ARV

• ARV (median comp): $326,418
• List price: $285,000
• Delta: -12.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 Hull Dr	0.21mi	3/2.0	2,018 (+1%)	2mo	$375,000	$186	87
71 Maple Dr	0.15mi	3/2.5	2,016 (+1%)	16mo	$300,000	$149	76
31 Maple Dr	0.28mi	3/2.0	1,979 (-1%)	14mo	$285,000	$144	74
63 Maple Dr	0.17mi	4/2.5 (+1)	2,125 (+6%)	11mo	$299,900	$141	65
1213 4th St	0.55mi	3/2.0	1,952 (-2%)	12mo	$200,000	$102	60
1417 4th St	0.40mi	4/3.0 (+1)	1,950 (-2%)	11mo	$449,950	$231	58
1869 Gates Dr W	0.34mi	3/2.5	2,084 (+4%)	21mo	$285,000	$137	58
1882 Gates Dr W	0.42mi	3/2.5	1,782 (-11%)	6mo	$325,000	$182	55
1505 Hale Ave	0.40mi	3/3.0	2,300 (+15%)	6mo	$285,000	$124	47
1216 Hampton Dr	0.66mi	3/3.0	1,728 (-14%)	2mo	$339,900	$197	41
13955 Cole Crossing Ct	0.72mi	3/2.0	2,200 (+10%)	19mo	$399,900	$182	34
1213 2nd St	0.58mi	4/3.0 (+1)	2,128 (+6%)	24mo	$285,000	$134	34

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: -21.8%
• Equity multiple: 0.25×
• Total profit: $-60,155
• Equity at exit: $42,494

10-year hold

• IRR: -15.7%
• Equity multiple: 0.12×
• Total profit: $-70,486
• Equity at exit: $24,642

Cash invested: $79,800 (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 64079

• Home prices YoY: -29.2%
• Active inventory: 124
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,068 medium
• Mortgage (P&I): −$1,495
• Tax from tax record: −$239 /mo · $2,869/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $-219

Break-even live

Break-even rent $2,345

Max offer price $246,359

Occupancy floor —

Sensitivity live

Price	-10% $-57	-5% $-138	+0% $-219	+5% $-299	+10% $-380
Rent	-10% $-382	-5% $-300	+0% $-219	+5% $-137	+10% $-55
Rate	-1.0pp $-75	-0.5pp $-146	base $-219	+0.5pp $-293	+1.0pp $-368

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
63 Maple Dr Platte City, MO	4.0	2.0	2125	$2,405	$1.13	45d	1	0.16mi
124 Almond St Platte City, MO	2.0	1.0	1936	$1,650	$0.85	19d	1	0.44mi
13615 Oak Valley Dr Platte City, MO	3.0	2.5	1418	$1,550	$1.09	18d	1	1.47mi

Listing history 22 events

1. 2026-06-21
   pricedays on market $285,000 Active 18 DOM
2. 2026-06-18
   days on market $289,000 Active 15 DOM
3. 2026-06-17
   remarks 693-char remark
4. 2026-06-17
   days on market $289,000 Active 14 DOM
5. 2026-06-16
   days on market $289,000 Active 13 DOM
6. 2026-06-15
   days on market $289,000 Active 12 DOM
7. 2026-06-13
   days on market $289,000 Active 10 DOM
8. 2026-06-13
   days on market $289,000 Active 9 DOM
9. 2026-06-09
   days on market $289,000 Active 6 DOM
10. 2026-06-08
    days on market $289,000 Active 5 DOM
11. 2026-06-07
    days on market $289,000 Active 4 DOM
12. 2026-06-05
    statusdays on market $289,000 Active 1 DOM
13. 2026-06-03
    days on market $289,000 Coming Soon 29 DOM
14. 2026-06-02
    days on market $289,000 Coming Soon 28 DOM
15. 2026-06-01
    days on market $289,000 Coming Soon 27 DOM
16. 2026-05-31
    days on market $289,000 Coming Soon 26 DOM
17. 2026-05-05
    historical $289,000 837-char remark
18. 2022-09-27
    soldstatus
19. 2016-06-16
    soldstatus
20. 2016-06-13
    soldstatus Sold 507-char remark

    Show marketing remark (507 chars)

    Beautifully updated ranch with gorgeous new baths with custom flooring, IKEA vanity, new tub, gorgeous subway tile backsplash in baths and kitchen! New custom laminate "wood" look flooring on main. Fresh interior paint thru-out. Nicely updated kitchen with custom painted cabinets and new counters. Huge finished basement with large rec area, full bath and bonus non-conforming 4th bedroom or office. New elementary school opens fall 2016. Please note yard extends past fenced area to the creeek

21. 2016-05-10
    status Pending 507-char remark

    Show marketing remark (507 chars)

    Beautifully updated ranch with gorgeous new baths with custom flooring, IKEA vanity, new tub, gorgeous subway tile backsplash in baths and kitchen! New custom laminate "wood" look flooring on main. Fresh interior paint thru-out. Nicely updated kitchen with custom painted cabinets and new counters. Huge finished basement with large rec area, full bath and bonus non-conforming 4th bedroom or office. New elementary school opens fall 2016. Please note yard extends past fenced area to the creeek

22. 2016-05-03
    listed $135,000 Active 507-char remark

    Show marketing remark (507 chars)

    Beautifully updated ranch with gorgeous new baths with custom flooring, IKEA vanity, new tub, gorgeous subway tile backsplash in baths and kitchen! New custom laminate "wood" look flooring on main. Fresh interior paint thru-out. Nicely updated kitchen with custom painted cabinets and new counters. Huge finished basement with large rec area, full bath and bonus non-conforming 4th bedroom or office. New elementary school opens fall 2016. Please note yard extends past fenced area to the creeek

ⓘ 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: $2,869 · $239/mo
• Projected year-2 tax: $2,869 · $239/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 ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,815
• − Mortgage interest: −$15,964
• − Property taxes: −$2,869
• − Insurance: −$1,425
• − Repairs & maintenance: −$1,985
• − Management: −$1,985
• − Depreciation: −$8,291
• Taxable loss: −$7,705
• Est. tax savings @ 24.0%: +$1,849
• After-tax cash flow: $-776/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: Platte County R-III
• NCES district ID: 2925230
• Math proficiency: 48% ▼ -5.00%
• Reading proficiency: 60% ▼ -1.00%
• Median HH income: $65,548
• Composite: 47.55/100
• National rank: #2266
• State rank: #22 of 324 in MO

Livability — Platte City

• Score: 76/100
• State rank: #42
• US rank: #3472

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Platte City, MO
• County: Platte County · 100,198 people
• City population: 15,160
• Metro: Kansas City, MO-KS
• Population (ZIP): 15,160
• Household income: $99,161
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 455.0

Population outlook (Platte County) Hauer SSP2

• Today (2025): 111,772 people
• By 2030: 119,173 · +6.6%
• By 2040: 133,326 · +19.3%
• By 2050: 146,617 · +31.2%
• By 2075: 178,626 · +59.8%
• By 2100: 195,638 · +75.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 5% Hispanic / Latino 5% Black 4% Asian 1%
• Common ancestry: Romanian 2% Slovak 2% Serbian 2%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Platte

• 2024 margin: Toss-up / Even · D 47.7% · R 50.8% · Other 1.4%
• 2008→2024 swing: +3.2pp toward D · 2008: -6.4pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: R+3.0 2016: R+13.0 2012: R+14.2 2008: R+6.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.15%
• Current HPI: 213.9574
• 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

+114.1% since first listed

7 events — show timeline

• 2026-06-04 Listed $289,000 Heartland MLS as Distributed by MLS Grid
• 2026-05-05 Coming Soon $289,000 Heartland MLS as Distributed by MLS Grid
• 2022-09-27 Sold (Public Records) — Public Records
• 2016-06-16 Sold (Public Records) — Public Records
• 2016-06-13 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2016-05-10 Pending — Heartland MLS as Distributed by MLS Grid
• 2016-05-03 Listed $135,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2025): $2,869 · +7.5% YoY. Source: county tax records.