3222 E 28th St · Kansas City, MO 64128

$155,000

3 bd · 1.5 ba · 1,660 sqft · SingleFamily public records · 1 Days on market

Built 1908 5,612 sqft lot Est $139k · 11% over

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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 +18.8/30.0
• Appreciation +10.0/10.0
• DSCR +5.9/10.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• ARV discount +2.5/15.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

This is a huge home that will be fantastic after some TLC and updates! Hardwood floors throughout, big kitchen and living spaces plus a huge bonus room on 3rd level. Home is easy to show, so go visit and see the possibilities!! Some homes on this street are valued up to 150k so much potential awaits!

Key facts

• Covered front porch
• Outdoor fireplace
• Private backyard

Tags

• COVERED FRONT PORCH
• RENOVATED KITCHEN
• PRIVATE BACKYARD
• OUTDOOR FIREPLACE
• UNFINISHED BASEMENT
• EASY ACCESS TO DOWNTOWN

Property features AI

Finance

• Other: Above grade living area reported as 1,660 (per public records)

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; 2 stories; Fixer condition; Facing entry level information not provided
• Construction: Frame construction; Composition roof; Approximately 101+ years old
• Exterior features: City lot; Paved road with public maintenance; Not in a flood plain

Interior

• Kitchen: Kitchen
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Formal dining area; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (10.8% below list).
• Recommended offer: $138k (10.8% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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 fast (+4.7%/yr); 86 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $1,383/mo this rent would consume 46% of the median local household income ($36k/yr) (locally 946% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 4.7% rent growth), your $43k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 18y ago; this cycle's ask is 343% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,258 (10.8% below list)

Questions for the listing agent

1. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.89% ✗
• Cap rate: 7.49%
• Cash-on-cash: 4.29%
• DSCR: 1.19
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $139,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2634 Bales Ave	0.22mi	4/2.5 (+1)	1,734 (+4%)	4mo	$209,000	$121	70
3020 Walrond Ave	0.30mi	2/1.5 (-1)	1,770 (+7%)	6mo	$84,900	$48	65
2532 Olive St	0.63mi	3/2.5	1,679 (+1%)	6mo	$185,000	$110	59
2528 Olive St	0.63mi	3/2.0	1,768 (+6%)	1mo	$214,900	$122	57
2519 Olive St	0.62mi	2/1.5 (-1)	1,600 (-4%)	6mo	$125,000	$78	55
2905 Wabash Ave	0.48mi	4/3.0 (+1)	1,724 (+4%)	10mo	$190,000	$110	52
2947 Garfield Ave	0.70mi	3/2.0	1,527 (-8%)	0mo	$125,000	$82	52
2512 Mersington Ave	0.52mi	4/1.5 (+1)	1,500 (-10%)	6mo	$72,000	$48	49
2923 Kensington Ave	0.74mi	2/1.0 (-1)	1,692 (+2%)	9mo	$75,000	$44	47
3218 Benton Blvd	0.54mi	4/2.5 (+1)	1,854 (+12%)	0mo	$155,000	$84	46
2456 Spruce Ave	0.74mi	2/2.0 (-1)	1,625 (-2%)	11mo	$105,000	$65	46
3338 Bellefontaine Ave	0.72mi	4/1.5 (+1)	1,855 (+12%)	8mo	$160,000	$86	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 4.65% rent growth · sell at horizon

5-year hold

• IRR: 27.9%
• Equity multiple: 3.23×
• Total profit: $96,567
• Equity at exit: $139,636

10-year hold

• IRR: 24.8%
• Equity multiple: 7.49×
• Total profit: $281,546
• Equity at exit: $301,131

Cash invested: $43,400 (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 64128

• Home prices YoY: 21.6%
• Rents YoY: 4.7%
• Active inventory: 86
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,383 high
• Mortgage (P&I): −$813
• Tax from tax record: −$60 /mo · $717/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $155

Break-even live

Break-even rent $1,186

Max offer price $155,000

Occupancy floor 84%

Sensitivity live

Price	-10% $243	-5% $199	+0% $155	+5% $111	+10% $67
Rent	-10% $46	-5% $100	+0% $155	+5% $210	+10% $264
Rate	-1.0pp $233	-0.5pp $195	base $155	+0.5pp $115	+1.0pp $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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3220 E 30th St Unit 1A Kansas City, MO	2.0	1.0	1214	$950	$0.78	44d	1	0.23mi
3205 E 31st St Kansas City, MO	4.0	1.0	1800	$1,325	$0.74	24d	1	0.39mi
2846 Myrtle Ave Kansas City, MO	3.0	2.0	1705	$1,350	$0.79	17d	1	0.46mi
2419 Bales Ave Kansas City, MO	3.0	1.5	1116	$1,500	$1.34	3d	1	0.52mi
2708 Olive St Kansas City, MO	4.0	2.0	1585	$1,500	$0.95	17d	1	0.55mi
3304 Agnes Ave Unit Downstairs Kansas City, MO	3.0	1.0	1150	$1,095	$0.95	44d	1	0.66mi
3305 Askew Ave Kansas City, MO	3.0	1.5	1428	$1,450	$1.02	24d	1	0.67mi
2724 Brooklyn Ave Kansas City, MO	3.0	2.5	1398	$1,440	$1.03	24d	1	0.68mi
3009 Garfield Ave Kansas City, MO	3.0	1.5	1334	$1,425	$1.07	44d	1	0.76mi
3346 Agnes Ave Kansas City, MO	3.0	1.0	1400	$1,200	$0.86	8d	1	0.76mi
3419 College Ave Kansas City, MO	4.0	1.0	1608	$1,300	$0.81	2d	1	0.79mi
2120 Linwood Blvd Kansas City, MO	3.0	1.0	1326	$1,400	$1.06	44d	1	0.83mi
3332 Norton Ave Kansas City, MO	3.0	1.0	1272	$1,350	$1.06	44d	1	0.87mi
3434 Chestnut Ave Kansas City, MO	2.0	1.0	1512	$1,100	$0.73	11d	1	0.89mi
3524 Bellefontaine Ave Kansas City, MO	3.0	1.0	1228	$1,350	$1.10	44d	1	0.95mi
2003 Wabash Ave Unit B Kansas City, MO	3.0	2.0	1200	$1,095	$0.91	24d	1	0.98mi
3525 Monroe Ave Kansas City, MO	3.0	2.0	1569	$1,500	$0.96	44d	1	0.98mi
3434 Olive St Kansas City, MO	3.0	2.0	2020	$1,445	$0.72	44d	1	1.00mi
3305 E 19th St Kansas City, MO	2.0	1.0	1500	$1,200	$0.80	44d	1	1.00mi
3630 Agnes Ave Kansas City, MO	3.0	2.0	1448	$1,500	$1.04	11d	1	1.10mi
2018 E 35th St Kansas City, MO	3.0	2.0	1502	$1,800	$1.20	3d	1	1.12mi
3414 Elmwood Ave Kansas City, MO	4.0	1.0	1109	$1,300	$1.17	17d	1	1.13mi
2729 Grove St Kansas City, MO	3.0	2.0	1510	$1,375	$0.91	44d	1	1.15mi
2002 E 35th St Kansas City, MO	3.0	2.0	1426	$1,295	$0.91	8d	1	1.15mi
1905 Kensington Ave Kansas City, MO	3.0	2.0	1285	$1,325	$1.03	24d	1	1.19mi
1805 Jackson Ave Kansas City, MO	4.0	2.0	1250	$1,250	$1.00	44d	1	1.20mi
3713 Cleveland Ave Kansas City, MO	4.0	1.0	1256	$1,250	$1.00	17d	1	1.21mi
3739 Bales Ave Kansas City, MO	3.0	2.0	1400	$1,575	$1.12	24d	1	1.24mi
2101 Vine St Kansas City, MO	1.0–2.0	1.0	942	$1,499	$1.59	17d	1	1.26mi
3818 Indiana Ave Kansas City, MO	3.0	1.5	1223	$1,147	$0.94	44d	1	1.30mi
3817 S Benton Ave Kansas City, MO	4.0	1.5	1380	$1,650	$1.20	24d	1	1.30mi
1812 Elmwood Ave Kansas City, MO	3.0	1.0	1650	$1,600	$0.97	17d	1	1.31mi
3840 Bellefontaine Ave Kansas City, MO	3.0	1.0	1500	$1,500	$1.00	17d	1	1.36mi
3736 Cypress Ave Kansas City, MO	3.0	1.0	1100	$1,200	$1.09	8d	1	1.43mi
3609 Wayne Ave Kansas City, MO	3.0	1.5	1118	$1,900	$1.70	24d	1	1.44mi
2501 Troost Ave Kansas City, MO	2.0	1.0–2.0	984	$2,679	$2.72	44d	15	1.44mi
3314 Tracy Ave Kansas City, MO	3.0	1.0	1100	$947	$0.86	8d	1	1.46mi
3314 Tracy Ave Unit B Kansas City, MO	3.0	1.0	1100	$947	$0.86	22d	1	1.46mi
3902 Wabash Ave Kansas City, MO	4.0	2.0	1400	$1,850	$1.32	44d	1	1.46mi
1603 Elmwood Ave Kansas City, MO	2.0	1.0	1064	$1,031	$0.97	13d	1	1.48mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $155,000 Coming Soon 1 DOM

ⓘ 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: $717 · $60/mo
• Projected year-2 tax: $1,504 · $125/mo
• Expected delta: +$787/yr (+$66/mo · 109.8%)

ⓘ 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 · 16 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: $16,591
• − Mortgage interest: −$8,682
• − Property taxes: −$717
• − Insurance: −$775
• − Repairs & maintenance: −$1,327
• − Management: −$1,327
• − Depreciation: −$4,509
• Taxable loss: −$747
• Est. tax savings @ 24.0%: +$179
• After-tax cash flow: $2,040/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): 11,912
• Household income: $36,088
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 946.0

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 Black (79%)
• Race & ethnicity: Black 79% Hispanic / Latino 9% White 8% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Swedish 1% Hispanic 1%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 2%

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: ▲ 73.41%
• Current HPI: 412.6862
• Rent YoY: ▲ 4.65%
• 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

+522.5% since first listed

10 events — show timeline

• 2026-06-18 Coming Soon $155,000 Heartland MLS as Distributed by MLS Grid
• 2020-06-02 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2020-05-11 Pending — Heartland MLS as Distributed by MLS Grid
• 2020-05-04 Relisted — Heartland MLS as Distributed by MLS Grid
• 2020-03-18 Pending — Heartland MLS as Distributed by MLS Grid
• 2020-03-13 Listed $35,000 Heartland MLS as Distributed by MLS Grid
• 2008-05-15 Sold (Public Records) — Public Records
• 2008-05-13 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2008-03-19 Listed $24,900 Heartland MLS as Distributed by MLS Grid
• 1988-03-24 Sold (Public Records) — Public Records

Property tax history

+5.7%/yr

Latest (2025): $717 · +0.8% YoY. Source: county tax records.