12748 New Jersey Ct · Kansas City, KS 66109

$255,000

3 bd · 2.5 ba · 1,880 sqft · MultiFamily public records · 3 Days on market

Built 2008 0.26 ac lot $25/mo HOA · 1% of rent

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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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 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

Gorgeous townhome close to the Legends Outlets, Cerner, SportingKC, speedway. LG windows, lots of nautral light & hardwoods. Brand new carpet throughout the home, gas fireplace & vaulted ceilings. Great kitchen w/ gorgeous cabinetry, granite counters & generous island. Access to the deck off kitchen. Master boasts new carpet, ceiling fan, walk-in closet. Master bath has tile floor, double vanity, separate shower & tub. Walkout finished lower level w/ living room, two bedrooms, & full bath. Large yard & greenspace.

Key facts

• Deck off kitchen
• Natural light
• Outdoor space

Tags

• GRANITE COUNTERTOPS
• FINISHED WALKOUT BASEMENT
• OVERSIZED CUL-DE-SAC LOT
• OUTDOOR SPACE
• DECK OFF KITCHEN
• NATURAL LIGHT

Property features AI

Finance

• Other: Lot approximately 0.26 acres; Above-grade and below-grade finished living areas recorded separately; Directions available to the property
• HOA & community: Homeowners association with annual fee of $300; HOA covers curbside recycling and snow removal; Lawn maintenance provided

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Attached townhouse; Residential property
• Construction: Stucco and frame construction; Composition roof; 16–20 years old
• Exterior features: Deck; Patio; Not in a flood plain

Interior

• Kitchen: Cooktop; Dishwasher; Disposal; Freezer; Microwave; Refrigerator
• Bedrooms: 3 bedrooms (two bedrooms located in the basement)
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Heat pump heating; Electric cooling (central)
• Interior features: Finished basement with walk-out access; Fireplace (1); 11 total rooms; Ranch / Reverse 1.5-story floor plan
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $255k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $255k).
• Cap rate 11.0% 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: schools F, crime F, employment D-.
• Piper-Kansas City (rural): math 37% / reading 44% proficiency, ranked #19 of 169 in KS (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-1.8%/yr); 236 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 369 units permitted in Wyandotte County in 2024 (236 in 5+ unit buildings).
• This rent runs 43% 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 $8k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.

Recommended offer $255,000

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. 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 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: 1.43% ✓
• Cap rate: 11.02%
• Cash-on-cash: 16.88%
• DSCR: 1.75
• GRM: 5.8

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: 4.5%
• Equity multiple: 1.17×
• Total profit: $12,089
• Equity at exit: $38,021

10-year hold

• IRR: 10.9%
• Equity multiple: 1.73×
• Total profit: $52,100
• Equity at exit: $22,048

Cash invested: $71,400 (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: 236
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $3,648 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$409 /mo · $4,907/yr
• Insurance: −$106
• HOA: −$25
• Vacancy / Maint / Mgmt: −$766
• Net cashflow: $1,004

Break-even live

Break-even rent $2,377

Max offer price $255,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$3,648
Total (2 units)			$3,648

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12929 Delaware Pkwy Kansas City, KS	1.0–3.0	1.0–2.0	1133	$1,775	$1.57	1d	16	0.28mi
13009 Washington Ct Kansas City, KS	3.0	3.5	1416	$1,900	$1.34	3d	1	0.42mi
13009 Washington Ct Kansas City, KS	3.0	3.5	1416	$1,900	$1.34	1d	1	0.42mi
1302 Zarda Ln Kansas City, KS	3.0	2.5	1424	$1,995	$1.40	1d	1	0.71mi
13001 Elizabeth Ave Bonner Springs, KS	3.0	2.5	1550	$2,100	$1.35	1d	10	1.19mi

HOA detail

• Monthly dues: $25 · $300/yr
• Likely covers: gas

Listing history 11 events

1. 2026-04-12
   status Pending
2. 2026-04-10
   listed $255,000 Active
3. 2020-08-11
   soldstatus
4. 2020-08-05
   soldstatus Closed 554-char remark

   Show marketing remark (554 chars)

   Gorgeous townhome close to the Legends Outlets, Cerner, SportingKC, speedway. LG windows, lots of nautral light & hardwoods. Brand new carpet throughout the home, gas fireplace & vaulted ceilings. Great kitchen w/ gorgeous cabinetry, granite counters & generous island. Access to the deck off kitchen. Master boasts new carpet, ceiling fan, walk-in closet. Master bath has tile floor, double vanity, separate shower & tub. Walkout finished lower level w/ living room, two bedrooms, & full bath. Large yard & greenspace.

5. 2020-07-11
   historical Contingent - Accepting Backup Offers 554-char remark

   Show marketing remark (554 chars)

   Gorgeous townhome close to the Legends Outlets, Cerner, SportingKC, speedway. LG windows, lots of nautral light & hardwoods. Brand new carpet throughout the home, gas fireplace & vaulted ceilings. Great kitchen w/ gorgeous cabinetry, granite counters & generous island. Access to the deck off kitchen. Master boasts new carpet, ceiling fan, walk-in closet. Master bath has tile floor, double vanity, separate shower & tub. Walkout finished lower level w/ living room, two bedrooms, & full bath. Large yard & greenspace.

6. 2020-07-09
   listed $174,950 Active 554-char remark

   Show marketing remark (554 chars)

   Gorgeous townhome close to the Legends Outlets, Cerner, SportingKC, speedway. LG windows, lots of nautral light & hardwoods. Brand new carpet throughout the home, gas fireplace & vaulted ceilings. Great kitchen w/ gorgeous cabinetry, granite counters & generous island. Access to the deck off kitchen. Master boasts new carpet, ceiling fan, walk-in closet. Master bath has tile floor, double vanity, separate shower & tub. Walkout finished lower level w/ living room, two bedrooms, & full bath. Large yard & greenspace.

7. 2013-07-16
   soldstatus
8. 2013-07-12
   soldstatus 563-char remark

   Show marketing remark (563 chars)

   Immaculate 3 BR, 2.5 Bath, Reverse 1.5 Story. Rare on the market floor plan with over 1900 sq ft of soaring ceilings and sun drenched windows. Home has hardwood floors in kitchen & dining room. Beautiful raised bar kitchen island with granite counter tops & pantry. Home features a first floor master suite with walk-in closet. Finished lower level with 2 bedrooms, bath & a rec room carpeted & ready for entertaining. Located just West of Kansas Speed Way & the Legends Shopping Center & Entertainment. Come show & sell!

9. 2013-05-22
   listed $149,900 563-char remark

   Show marketing remark (563 chars)

   Immaculate 3 BR, 2.5 Bath, Reverse 1.5 Story. Rare on the market floor plan with over 1900 sq ft of soaring ceilings and sun drenched windows. Home has hardwood floors in kitchen & dining room. Beautiful raised bar kitchen island with granite counter tops & pantry. Home features a first floor master suite with walk-in closet. Finished lower level with 2 bedrooms, bath & a rec room carpeted & ready for entertaining. Located just West of Kansas Speed Way & the Legends Shopping Center & Entertainment. Come show & sell!

10. 2008-10-23
    soldstatus
11. 2008-09-09
    listed $159,950

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast KS · Resets to sale price

• Current annual tax: $4,907 · $409/mo
• Projected year-2 tax: $4,907 · $409/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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,776
• − Mortgage interest: −$14,284
• − Property taxes: −$4,907
• − Insurance: −$1,275
• − Repairs & maintenance: −$3,502
• − Management: −$3,502
• − HOA: −$300
• − Depreciation: −$7,418
• Taxable income: $8,587
• Est. tax owed @ 24.0%: −$2,061
• After-tax cash flow: $9,993/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: Piper-Kansas City
• NCES district ID: 2010680
• Math proficiency: 37% ▼ -9.00%
• Reading proficiency: 44% ▼ -3.00%
• Median HH income: $91,126
• Composite: 38.82/100
• National rank: #4111
• State rank: #19 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

+59.4% since first listed

11 events — show timeline

• 2026-04-12 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-10 Listed $255,000 Heartland MLS as Distributed by MLS Grid
• 2020-08-11 Sold (Public Records) — Public Records
• 2020-08-05 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2020-07-11 Contingent — Heartland MLS as Distributed by MLS Grid
• 2020-07-09 Listed $174,950 Heartland MLS as Distributed by MLS Grid
• 2013-07-16 Sold (Public Records) — Public Records
• 2013-07-12 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2013-05-22 Listed $149,900 Heartland MLS as Distributed by MLS Grid
• 2008-10-23 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2008-09-09 Listed $159,950 Heartland MLS as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2025): $4,907 · +2.6% YoY. Source: county tax records.