915 N Osage St · Independence, MO 64050

$216,000

4 bd · 2.0 ba · 2,240 sqft · MultiFamily public records · 20 Days on market

Built 1980 Est $242k · 11% under

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Why this score? — see what drove the C+ 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 +25.3/30.0
• ARV discount +12.3/15.0
• DSCR +8.3/10.0
• 1% rule +6.1/10.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• 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

Duplex located near Independence Square Uptown. Beside MidContinental public library (North Independence), near McCoy Park, Truman Library, William Christmas High School. Both units empty and rental ready, easily rents out for over $900 ( Zillow estimates $1200). New roofing installed September 2025 with IR shingles that will give you insurance discounts, fairly new (June2021)HVAC system at 917 side. Has washer and dryer hookups in garage. Both units have garage door openers, stove , refrigerator, garbage disposal. Paid $2,186 real estate property tax in 2025. I included 12 rooms for both sides, not including garage.

Key facts

• Stove
• Garage door openers
• New roofing

Tags

• NEW ROOFING
• HVAC SYSTEM
• WASHER AND DRYER HOOKUPS
• GARAGE DOOR OPENERS
• STOVE
• REFRIGERATOR

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $216k.

Deal economics

• At list price, monthly cash flow is $490 ($6k/yr) — positive. Per door: $245/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $216k).
• Recommended offer: $213k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 5.0% in Independence — 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 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: 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.
• Zoned schools: Ott Elem. (math 33% / reading 44%, grade F, #599 of 1,115 statewide, top 54%, 398 students, 77% FRL); Bingham Middle (math 19% / reading 33%, grade F, #316 of 391 statewide, top 81%, 774 students, 69% FRL); William Chrisman High (math 21% / reading 45%, grade F, #351 of 521 statewide, top 68%, 1,406 students, 66% FRL).
• Market conditions: Rents rising (+3.8%/yr); 127 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $2,398/mo this rent would consume 59% of the median local household income ($49k/yr) (locally 972% 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 $1k of loan paydown is wiped out by about $6k 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 + 3.8% rent growth), your $60k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($213k) is reasonable based on typical stale-listing flexibility.

Recommended offer $212,760 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.11% ✓
• Cap rate: 9.01%
• Cash-on-cash: 9.71%
• DSCR: 1.43
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $241,920
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
701 N Delaware St	0.34mi	5/2.5 (+1)	2,108 (-6%)	19mo	$299,900	$142	52
417 N Main St	0.41mi	3/2.5 (-1)	1,967 (-12%)	15mo	$213,000	$108	41
1100-1102 N Cottage St	0.48mi	4/6.0	2,000 (-11%)	12mo	$215,000	$108	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 · 3.79% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,921
• Equity at exit: $32,206

10-year hold

• IRR: 9.6%
• Equity multiple: 1.77×
• Total profit: $46,411
• Equity at exit: $18,676

Cash invested: $60,480 (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 64050

• Home prices YoY: -15.5%
• Rents YoY: 3.8%
• Active inventory: 127
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $2,398 high
• Mortgage (P&I): −$1,133
• Tax from tax record: −$182 /mo · $2,186/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $490

Break-even live

Break-even rent $1,778

Max offer price $216,000

Occupancy floor 75%

Sensitivity live

Price	-10% $612	-5% $551	+0% $490	+5% $428	+10% $367
Rent	-10% $300	-5% $395	+0% $490	+5% $584	+10% $679
Rate	-1.0pp $598	-0.5pp $544	base $490	+0.5pp $434	+1.0pp $377

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,398
Total (2 units)			$2,398

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: $54,000
• Closing costs: $6,480
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11323 E Thompson St Sugar Creek, MO	3.0	2.5	1794	$1,800	$1.00	14d	1	1.23mi
1808 N Kiger Rd Independence, MO	3.0	1.5	1800	$1,550	$0.86	45d	1	1.36mi

Listing history 12 events

1. 2026-06-15
   days on market $216,000 Active 20 DOM
2. 2026-06-13
   days on market $216,000 Active 18 DOM
3. 2026-06-09
   days on market $216,000 Active 14 DOM
4. 2026-06-08
   days on market $216,000 Active 13 DOM
5. 2026-06-07
   days on market $216,000 Active 12 DOM
6. 2026-06-05
   days on market $216,000 Active 9 DOM
7. 2026-06-03
   days on market $216,000 Active 8 DOM
8. 2026-06-02
   days on market $216,000 Active 7 DOM
9. 2026-06-01
   days on market $216,000 Active 6 DOM
10. 2026-05-31
    days on market $216,000 Active 5 DOM
11. 2026-05-26
    listed $216,000 Active
12. 1984-11-01
    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: $2,186 · $182/mo
• Projected year-2 tax: $2,186 · $182/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 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,776
• − Mortgage interest: −$12,099
• − Property taxes: −$2,186
• − Insurance: −$1,080
• − Repairs & maintenance: −$2,302
• − Management: −$2,302
• − Depreciation: −$6,284
• Taxable income: $2,523
• Est. tax owed @ 24.0%: −$605
• After-tax cash flow: $5,269/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): 21,079
• Household income: $48,834
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 972.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 11% Two or more races 9% Black 7% Pacific Islander 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 4% Serbian 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Asian/Pacific 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: ▼ -56.24%
• Current HPI: 305.796
• Rent YoY: ▲ 3.79%
• 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

2 events — show timeline

• 2026-05-26 Listed $216,000 FSBO.com
• 1984-11-01 Sold (Public Records) — Public Records

Property tax history

+4.5%/yr

Latest (2025): $2,186 · +18.6% YoY. Source: county tax records.