3331 Indiana Ave · Kansas City, MO 64128

$399,900

8 bd · 4.0 ba · 3,848 sqft · MultiFamily public records · 269 Days on market

Built 1937 5,663 sqft lot Est $404k · at est.

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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 +20.2/30.0
• Appreciation +10.0/10.0
• ARV discount +8.0/15.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

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

Prime 4-Plex Investment Opportunity with excellent cash flow potential! Discover a turnkey 4-plex with strong possible returns in one of Kansas City’s hottest growth corridors. Each unit offers 3 bedrooms and 1 bath, with updated finishes, front and back decks, and spacious layouts. Three units were remodeled within the last 6 months , while the fourth is occupied with a longer term tenant. The numbers tell the story: voucher program rents at $1,600+ per unit provide consistent income, creating the potential for exceptional cash flow. Investors will appreciate the projected double-digit cap rate, strong cash-on-cash returns, and over $40K in potential NOI. The location adds even more upside—just minutes from downtown, the Plaza, Westport, and the Crossroads, with over $100M in redevelopment nearby. Essential amenities like a new police station, fire station, major grocery, and retail are only 3 minutes away. With ample off-street parking and opportunity zone benefits- this property checks every box for investors seeking excellent possible returns and long-term growth. Don’t miss your chance to invest in KCMO!

Key facts

• 5,663 sq ft lot
• 4 parking spots
• Built 1937

What this means for you Summary

Snapshot

• This is a 8-bed/4.0-bath multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $504 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• Recommended offer: $352k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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; lower-income renter base — watch delinquency; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $4,136/mo this rent would consume 138% 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 $43k of equity ($3k loan paydown + $40k 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 $112k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 269 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $351,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 269 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.03% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.40%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

• ARV (median comp): $403,993
• List price: $399,900
• Delta: -1.01%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 28.8%
• Equity multiple: 3.29×
• Total profit: $256,926
• Equity at exit: $360,262

10-year hold

• IRR: 25.6%
• Equity multiple: 7.67×
• Total profit: $746,640
• Equity at exit: $776,918

Cash invested: $111,972 (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: 24.2×

Monthly cashflow live

• Estimated rent: $4,136 high
• Mortgage (P&I): −$2,097
• Tax est. 1.5%: −$500 /mo · $5,998/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$869
• Net cashflow: $504

Break-even live

Break-even rent $3,498

Max offer price $399,900

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$4,137
Total (3 units)			$4,136

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $399,900 Active 269 DOM
2. 2026-06-17
   days on market $399,900 Active 268 DOM
3. 2026-06-16
   days on market $399,900 Active 267 DOM
4. 2026-06-15
   days on market $399,900 Active 266 DOM
5. 2026-06-13
   days on market $399,900 Active 264 DOM
6. 2026-06-09
   days on market $399,900 Active 260 DOM
7. 2026-06-08
   days on market $399,900 Active 259 DOM
8. 2026-06-07
   days on market $399,900 Active 258 DOM
9. 2026-06-05
   days on market $399,900 Active 255 DOM
10. 2026-06-03
    days on market $399,900 Active 254 DOM
11. 2026-06-02
    days on market $399,900 Active 253 DOM
12. 2026-06-01
    days on market $399,900 Active 252 DOM
13. 2026-05-31
    days on market $399,900 Active 251 DOM
14. 2025-12-13
    price $399,900 1147-char remark

    Show marketing remark (1147 chars)

    Prime 4-Plex Investment Opportunity with excellent cash flow potential! Discover a turnkey 4-plex with strong possible returns in one of Kansas City’s hottest growth corridors. Each unit offers 3 bedrooms and 1 bath, with updated finishes, front and back decks, and spacious layouts. Three units were remodeled within the last 6 months , while the fourth is occupied with a longer term tenant. The numbers tell the story: voucher program rents at $1,600+ per unit provide consistent income, creating the potential for exceptional cash flow. Investors will appreciate the projected double-digit cap rate, strong cash-on-cash returns, and over $40K in potential NOI. The location adds even more upside—just minutes from downtown, the Plaza, Westport, and the Crossroads, with over $100M in redevelopment nearby. Essential amenities like a new police station, fire station, major grocery, and retail are only 3 minutes away. With ample off-street parking and opportunity zone benefits- this property checks every box for investors seeking excellent possible returns and long-term growth. Don’t miss your chance to invest in KCMO!

15. 2025-09-22
    listed $425,000 Active 1147-char remark

    Show marketing remark (1147 chars)

    Prime 4-Plex Investment Opportunity with excellent cash flow potential! Discover a turnkey 4-plex with strong possible returns in one of Kansas City’s hottest growth corridors. Each unit offers 3 bedrooms and 1 bath, with updated finishes, front and back decks, and spacious layouts. Three units were remodeled within the last 6 months , while the fourth is occupied with a longer term tenant. The numbers tell the story: voucher program rents at $1,600+ per unit provide consistent income, creating the potential for exceptional cash flow. Investors will appreciate the projected double-digit cap rate, strong cash-on-cash returns, and over $40K in potential NOI. The location adds even more upside—just minutes from downtown, the Plaza, Westport, and the Crossroads, with over $100M in redevelopment nearby. Essential amenities like a new police station, fire station, major grocery, and retail are only 3 minutes away. With ample off-street parking and opportunity zone benefits- this property checks every box for investors seeking excellent possible returns and long-term growth. Don’t miss your chance to invest in KCMO!

16. 2023-11-30
    soldstatus Closed 1076-char remark

    Show marketing remark (1076 chars)

    Check out this beautifully remodeled 4plex in smoking hot area! $100 million+ in infrastructure redevelopment in adjacent area and more coming. Less than 10 min to downtown, Plaza, Westport, and Crossroads. 3 min to new police station, fire station, bank, big name chain grocery store, and large shopping center. Updated spacious units with front and back decks. Unit mix: Four 3/1 units. 3 of 4 were remodeled last 6 months and currently leased. 4th unit has just been remodeled. Ample off-street parking. Projected 10%+ cap rate, 14% Cash on Cash, $40K NOI, and $1200/month cash flow (PDF of Pro-forma in supplements). Located in Qualified Opportunity Zone (QOZ). Next door 4plex just sold for $399K a few weeks ago. This is the final building of 8 that have been remodeled and sold. All details in financials and pro forma are estimates based on opinion - Buyer's agent to verify. Owner/Agent: Listing agent is owner of LLC which owns the property. Act quick, this one won't last long-the last 7 on this block from this owner have gone under contract first couple of weeks.

17. 2023-11-30
    soldstatus

    Show marketing remark (1076 chars)

    Check out this beautifully remodeled 4plex in smoking hot area! $100 million+ in infrastructure redevelopment in adjacent area and more coming. Less than 10 min to downtown, Plaza, Westport, and Crossroads. 3 min to new police station, fire station, bank, big name chain grocery store, and large shopping center. Updated spacious units with front and back decks. Unit mix: Four 3/1 units. 3 of 4 were remodeled last 6 months and currently leased. 4th unit has just been remodeled. Ample off-street parking. Projected 10%+ cap rate, 14% Cash on Cash, $40K NOI, and $1200/month cash flow (PDF of Pro-forma in supplements). Located in Qualified Opportunity Zone (QOZ). Next door 4plex just sold for $399K a few weeks ago. This is the final building of 8 that have been remodeled and sold. All details in financials and pro forma are estimates based on opinion - Buyer's agent to verify. Owner/Agent: Listing agent is owner of LLC which owns the property. Act quick, this one won't last long-the last 7 on this block from this owner have gone under contract first couple of weeks.

18. 2023-11-22
    status Pending 1076-char remark

    Show marketing remark (1076 chars)

    Check out this beautifully remodeled 4plex in smoking hot area! $100 million+ in infrastructure redevelopment in adjacent area and more coming. Less than 10 min to downtown, Plaza, Westport, and Crossroads. 3 min to new police station, fire station, bank, big name chain grocery store, and large shopping center. Updated spacious units with front and back decks. Unit mix: Four 3/1 units. 3 of 4 were remodeled last 6 months and currently leased. 4th unit has just been remodeled. Ample off-street parking. Projected 10%+ cap rate, 14% Cash on Cash, $40K NOI, and $1200/month cash flow (PDF of Pro-forma in supplements). Located in Qualified Opportunity Zone (QOZ). Next door 4plex just sold for $399K a few weeks ago. This is the final building of 8 that have been remodeled and sold. All details in financials and pro forma are estimates based on opinion - Buyer's agent to verify. Owner/Agent: Listing agent is owner of LLC which owns the property. Act quick, this one won't last long-the last 7 on this block from this owner have gone under contract first couple of weeks.

19. 2023-11-17
    historical Active Under Contract 1076-char remark

    Show marketing remark (1076 chars)

    Check out this beautifully remodeled 4plex in smoking hot area! $100 million+ in infrastructure redevelopment in adjacent area and more coming. Less than 10 min to downtown, Plaza, Westport, and Crossroads. 3 min to new police station, fire station, bank, big name chain grocery store, and large shopping center. Updated spacious units with front and back decks. Unit mix: Four 3/1 units. 3 of 4 were remodeled last 6 months and currently leased. 4th unit has just been remodeled. Ample off-street parking. Projected 10%+ cap rate, 14% Cash on Cash, $40K NOI, and $1200/month cash flow (PDF of Pro-forma in supplements). Located in Qualified Opportunity Zone (QOZ). Next door 4plex just sold for $399K a few weeks ago. This is the final building of 8 that have been remodeled and sold. All details in financials and pro forma are estimates based on opinion - Buyer's agent to verify. Owner/Agent: Listing agent is owner of LLC which owns the property. Act quick, this one won't last long-the last 7 on this block from this owner have gone under contract first couple of weeks.

20. 2023-11-09
    listed $399,000 Active 1076-char remark

    Show marketing remark (1076 chars)

    Check out this beautifully remodeled 4plex in smoking hot area! $100 million+ in infrastructure redevelopment in adjacent area and more coming. Less than 10 min to downtown, Plaza, Westport, and Crossroads. 3 min to new police station, fire station, bank, big name chain grocery store, and large shopping center. Updated spacious units with front and back decks. Unit mix: Four 3/1 units. 3 of 4 were remodeled last 6 months and currently leased. 4th unit has just been remodeled. Ample off-street parking. Projected 10%+ cap rate, 14% Cash on Cash, $40K NOI, and $1200/month cash flow (PDF of Pro-forma in supplements). Located in Qualified Opportunity Zone (QOZ). Next door 4plex just sold for $399K a few weeks ago. This is the final building of 8 that have been remodeled and sold. All details in financials and pro forma are estimates based on opinion - Buyer's agent to verify. Owner/Agent: Listing agent is owner of LLC which owns the property. Act quick, this one won't last long-the last 7 on this block from this owner have gone under contract first couple of weeks.

21. 2022-02-08
    soldstatus
22. 2014-06-13
    soldstatus
23. 2013-05-17
    soldstatus
24. 2012-03-27
    soldstatus
25. 2012-03-27
    soldstatus
26. 1994-01-28
    soldstatus

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

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 ≥107°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: $49,632
• − Mortgage interest: −$22,401
• − Property taxes: −$5,998
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,971
• − Management: −$3,971
• − Depreciation: −$11,633
• Taxable loss: −$341
• Est. tax savings @ 24.0%: +$82
• After-tax cash flow: $6,128/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

+0.2% since first listed

13 events — show timeline

• 2025-12-13 Price Changed $399,900 Heartland MLS as Distributed by MLS Grid
• 2025-09-22 Listed $425,000 Heartland MLS as Distributed by MLS Grid
• 2023-11-30 Sold (Public Records) — Public Records
• 2023-11-30 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2023-11-22 Pending — Heartland MLS as Distributed by MLS Grid
• 2023-11-17 Contingent — Heartland MLS as Distributed by MLS Grid
• 2023-11-09 Listed $399,000 Heartland MLS as Distributed by MLS Grid
• 2022-02-08 Sold (Public Records) — Public Records
• 2014-06-13 Sold (Public Records) — Public Records
• 2013-05-17 Sold (Public Records) — Public Records
• 2012-03-27 Sold (Public Records) — Public Records
• 2012-03-27 Sold (Public Records) — Public Records
• 1994-01-28 Sold (Public Records) — Public Records

Property tax history

+4.2%/yr

Latest (2025): $527 · -81.8% YoY. Source: county tax records.