3933 Warwick Blvd · Kansas City, MO 64111

$495,000

12 bd · 8.0 ba · 4,697 sqft · MultiFamily public records · 210 Days on market

Built 1890 0.28 ac lot Est $673k · 26% 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 +27.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +6.6/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• 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 (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Tucked in the heart of Midtown Kansas City’s vibrant Main Street corridor, 3933 Warwick presents a rare chance to own a fully leased fourplex steps from the future streetcar stop at 39th Street. This well-located asset sits in the walkable South Hyde Park neighborhood, surrounded by amenities and neighborhood charm. Currently 100% occupied, the property includes one spacious 3BR/2BA unit and three 1BR/1BA units with solid in-place rents and strong historical occupancy.

Key facts

• 0.28 acre lot
• Built 1890
• Listed 209 days

Tags

• FULLY LEASED FOURPLEX
• FUTURE STREETCAR STOP
• WALKABLE SOUTH HYDE PARK
• SURROUNDED BY AMENITIES
• STRONG HISTORICAL OCCUPANCY

What this means for you Summary

Snapshot

• This is a 4 × 3.0-bed/2.0-bath units multifamily listed at $495k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $382/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $495k).
• Recommended offer: $436k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 (+3.4%/yr); 168 active listings in the ZIP; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $5,755/mo this rent would consume 112% of the median local household income ($62k/yr) (locally 1606% 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 $3k of loan paydown is wiped out by about $15k 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 + 3.4% rent growth), your $139k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 210 days — a 12% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y ago; this cycle's ask has dropped $30k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $435,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 days. Have you received any prior offers? Is the seller open to a 12% 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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
9. 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.
10. 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: 1.16% ✓
• Cap rate: 10.00%
• Cash-on-cash: 13.24%
• DSCR: 1.59
• GRM: 7.2

CMA / ARV

• ARV (median comp): $672,770
• List price: $495,000
• Delta: -26.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.42% rent growth · sell at horizon

5-year hold

• IRR: 3.6%
• Equity multiple: 1.14×
• Total profit: $19,473
• Equity at exit: $73,806

10-year hold

• IRR: 13.5%
• Equity multiple: 2.10×
• Total profit: $151,832
• Equity at exit: $42,799

Cash invested: $138,600 (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 64111

• Rents YoY: 3.4%
• Active inventory: 168
• Price-to-rent: 28.7×

Monthly cashflow live

• Estimated rent: $5,755 high
• Mortgage (P&I): −$2,596
• Tax from tax record: −$215 /mo · $2,580/yr
• Insurance: −$206
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,209
• Net cashflow: $1,529

Break-even live

Break-even rent $3,819

Max offer price $495,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,810	-5% $1,669	+0% $1,529	+5% $1,389	+10% $1,249
Rent	-10% $1,075	-5% $1,302	+0% $1,529	+5% $1,757	+10% $1,984
Rate	-1.0pp $1,779	-0.5pp $1,655	base $1,529	+0.5pp $1,401	+1.0pp $1,271

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

Units	Beds	Baths	Est. rent
▸ 4× units	3.0	2	$5,756
Total (4 units)			$5,755

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: $123,750
• Closing costs: $14,850
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $495,000 Active 210 DOM
2. 2026-06-18
   days on market $495,000 Active 207 DOM
3. 2026-06-17
   days on market $495,000 Active 206 DOM
4. 2026-06-16
   days on market $495,000 Active 205 DOM
5. 2026-06-15
   days on market $495,000 Active 204 DOM
6. 2026-06-13
   days on market $495,000 Active 202 DOM
7. 2026-06-09
   days on market $495,000 Active 198 DOM
8. 2026-06-08
   days on market $495,000 Active 197 DOM
9. 2026-06-07
   days on market $495,000 Active 196 DOM
10. 2026-06-05
    pricestatusdays on market $495,000 Active 193 DOM
11. 2026-05-05
    historical
12. 2025-10-24
    listed $525,000 Active
13. 2004-02-11
    soldstatus
14. 2004-02-10
    soldstatus
15. 2004-01-20
    listed $140,000
16. 1988-01-07
    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 MO · Resets to sale price

• Current annual tax: $2,580 · $215/mo
• Projected year-2 tax: $4,802 · $400/mo
• Expected delta: +$2,221/yr (+$185/mo · 86.1%)

ⓘ 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: $69,060
• − Mortgage interest: −$27,728
• − Property taxes: −$2,580
• − Insurance: −$2,475
• − Repairs & maintenance: −$5,525
• − Management: −$5,525
• − Depreciation: −$14,400
• Taxable income: $10,827
• Est. tax owed @ 24.0%: −$2,599
• After-tax cash flow: $15,753/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): 16,887
• Household income: $61,729
• Rent vs Own: 68.8% rent · 31.2% own
• Severe rent burden: 1606.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 10% Black 10% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 3% Slovak 2% Serbian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 90% English-only · Spanish 5% Other Asian/Pacific 1% Chinese 1%

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: ▼ -341.84%
• Current HPI: 282.068
• Rent YoY: ▲ 3.42%
• 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

+275.0% since first listed

6 events — show timeline

• 2026-05-05 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-10-24 Listed $525,000 Heartland MLS as Distributed by MLS Grid
• 2004-02-11 Sold (Public Records) — Public Records
• 2004-02-10 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2004-01-20 Listed $140,000 Heartland MLS as Distributed by MLS Grid
• 1988-01-07 Sold (Public Records) — Public Records

Property tax history

+8.3%/yr

Latest (2025): $2,580 · +3.6% YoY. Source: county tax records.