3605 S Norwood Ave · Independence, MO 64052

$99,000

3 bd · 1.0 ba · 1,100 sqft · SingleFamily public records · 5 Days on market

Built 1955 0.72 ac lot $90/sqft · 45% below area Est $181k · 45% 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 +29.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +4.1/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Well-loved ranch home featuring separate living quarters in the lower level. The main floor is in good condition, while the lower level — complete with two private exterior entrances — offers excellent potential for renovation as an additional living space. Spacious 2-car garage provides ample room for vehicles and storage. Property is being sold AS IS, including any remaining contents. Large yard offers great possibilities for outdoor improvement and landscaping. Water is currently off and will not be turned on for inspection. House has been climate controlled over the years with heating & cooling. Cash buyers, rehab loans, or investment lending only.

Key facts

• 0.72 acre lot
• 2 garage spots
• Built 1955

Property features AI

Finance

• HOA & community: No association fees

Exterior

• Parking: Detached 2-car garage
• Utilities: City/public water (verify); Sewer: unknown
• Home design: Single-family residence; Ranch-style floor plan; Faces west
• Construction: Shingle siding; Composition roof; Has basement; Home age approximately 51–75 years
• Exterior features: Wooded lot; Approximately 0.72-acre lot

Interior

• Kitchen: Kitchen on main level; Eat-in kitchen
• Bedrooms: 3 bedrooms, all on the main level
• Bathrooms: 1 full bath; 1 half bath; Basement rough-in for another bathroom
• Heating & cooling: Forced air heating; Electric cooling (central AC)
• Interior features: Eat-in and formal dining areas; Living room on main level; Walk-out basement; Basement stubbed for additional bath; Basement has sump pump
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Cap rate 10.6% 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: schools C-, employment D+, crime F.
• Raytown C-2 (suburban): math 12% / reading 28% proficiency, ranked #302 of 324 in MO (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+5.4%/yr); 127 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 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 $684 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.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,000

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 1.37% ✓
• Cap rate: 10.59%
• Cash-on-cash: 15.36%
• DSCR: 1.68
• GRM: 6.1

CMA / ARV

• ARV (median comp): $181,107
• List price: $99,000
• Delta: -45.34%
• 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
3605 S Norwood Ave	0.00mi	3/1.5	1,100 (0%)	1mo	$99,000	$90	97
3515 S Park Ave	0.18mi	3/2.0	1,200 (+9%)	1mo	$240,000	$200	72
3308 S Vermont Ave	0.33mi	3/1.0	1,014 (-8%)	2mo	$162,500	$160	70
3621 S Scott Ave	0.15mi	3/2.0	1,236 (+12%)	1mo	$215,000	$174	68
3823 S Sterling Ave	0.42mi	3/1.5	1,060 (-4%)	6mo	$169,500	$160	67
3605 S Scott Ave	0.10mi	3/2.0	1,248 (+14%)	5mo	$224,900	$180	65
11628 E 38th Ter S	0.38mi	3/1.5	1,008 (-8%)	3mo	$185,000	$184	64
3705 S Vermont Ave	0.19mi	2/1.5 (-1)	972 (-12%)	4mo	$145,000	$149	61
11012 E 34th St S	0.43mi	2/2.0 (-1)	1,130 (+3%)	8mo	$169,950	$150	60
3503 S Northern Blvd	0.51mi	2/1.0 (-1)	1,008 (-8%)	7mo	$159,900	$159	51
11506 E 38th St S	0.24mi	2/2.5 (-1)	1,260 (+14%)	6mo	$175,000	$139	48
12300 E 32nd St	0.63mi	3/1.0	986 (-10%)	7mo	$188,000	$191	48

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 · 5.43% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.21×
• Total profit: $5,803
• Equity at exit: $14,761

10-year hold

• IRR: 17.0%
• Equity multiple: 2.58×
• Total profit: $43,672
• Equity at exit: $8,560

Cash invested: $27,720 (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 64052

• Home prices YoY: -34.6%
• Rents YoY: 5.4%
• Active inventory: 127
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,355 high
• Mortgage (P&I): −$519
• Tax from tax record: −$155 /mo · $1,861/yr
• Insurance: −$41
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $288

Break-even live

Break-even rent $990

Max offer price $99,000

Occupancy floor 74%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12502 E 40th St S Unit C Independence, MO	2.0	1.5	950	$975	$1.03	4d	1	0.75mi
3927 Willow Ave Kansas City, MO	1.0–3.0	1.0–2.0	997	$1,350	$1.35	2d	11	0.76mi
3013 Mason Ave Independence, MO	4.0	2.0	1166	$1,900	$1.63	7d	1	0.81mi
2920 S Harvard Ave Unit A Independence, MO	4.0	2.5	1200	$1,650	$1.38	44d	1	0.86mi
2912 Englewood Ter Independence, MO	3.0	2.0	792	$1,399	$1.77	16d	1	0.86mi
3213 S Ash Ave Independence, MO	2.0	1.0	879	$1,195	$1.36	7d	1	0.94mi
10500 E 42nd St Kansas City, MO	1.0–3.0	1.0–2.5	915	$1,259	$1.38	16d	2	1.00mi
3936 S Pleasant St Independence, MO	3.0	2.0	1150	$1,750	$1.52	23d	1	1.11mi
3501 S Osage St Independence, MO	3.0	1.0	1300	$1,495	$1.15	20d	1	1.11mi
3501 S Osage St Independence, MO	3.0	1.0	1300	$1,495	$1.15	16d	1	1.12mi
9715 E 35th Ter S Unit A-5 Independence, MO	2.0	1.0	750	$1,095	$1.46	14d	1	1.18mi
9715 E 35th Ter S Unit B-10 Independence, MO	2.0	1.0	750	$1,095	$1.46	44d	1	1.18mi
9715 E 35th Ter S Unit B-9 Independence, MO	2.0	1.0	750	$999	$1.33	21d	1	1.19mi
9715 E 35th Ter S Apt A8 Independence, MO	2.0	1.0	750	$999	$1.33	4d	1	1.19mi
10415 E 43rd St Kansas City, MO	1.0–2.0	1.0–2.0	784	$1,084	$1.38	1d	12	1.27mi
3551 S Lynn St Unit 3551 Independence, MO	2.0	1.0	850	$899	$1.06	44d	1	1.28mi
13511 E 41st Ter S Independence, MO	3.0	2.0	925	$1,530	$1.65	23d	1	1.38mi
10604 E 26th St S Independence, MO	3.0	1.0	1068	$1,610	$1.51	7d	1	1.40mi
3333 S Oxford Ave Independence, MO	2.0	1.0	700	$850	$1.21	44d	1	1.49mi

Listing history 2 events

1. 2026-05-12
   status Pending 678-char remark
2. 2026-05-07
   listed $99,000 Active 678-char remark

ⓘ 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: $1,861 · $155/mo
• Projected year-2 tax: $1,861 · $155/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 16 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: $16,260
• − Mortgage interest: −$5,546
• − Property taxes: −$1,861
• − Insurance: −$1,292
• − Repairs & maintenance: −$1,301
• − Management: −$1,301
• − Depreciation: −$2,880
• Taxable income: $2,079
• Est. tax owed @ 24.0%: −$499
• After-tax cash flow: $2,963/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: Raytown C-2
• NCES district ID: 2926070
• Math proficiency: 12% ▼ -11.00%
• Reading proficiency: 28% ▼ -9.00%
• Median HH income: $47,215
• Composite: 17.59/100
• National rank: #9039
• State rank: #302 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): 22,138
• Household income: $59,007
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 965.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 62% Hispanic / Latino 23% Two or more races 15% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 12% Slovak 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 85% English-only · Spanish 13% 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: ▼ -160.06%
• Current HPI: 302.1124
• Rent YoY: ▲ 5.43%
• 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

3 events — show timeline

• 2026-05-21 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2026-05-12 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-07 Listed $99,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+3.2%/yr

Latest (2025): $1,861 · +0.0% YoY. Source: county tax records.