1316 Admiral Blvd · Kansas City, MO 64106

$647,000

None bd · 81.0 ba · 3,792 sqft · MultiFamily public records · 42 Days on market

Built 1920 2,404 sqft lot $171/sqft · 5% below area Est $594k · 9% over ↓ 11% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.3/5.0
• Livability +3.9/5.0
• ARV discount +3.5/15.0
• Appreciation +3.2/10.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 9 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Terrific opportunity to invest in this all brick 9-unit apartment building with high occupancy, long-term tenants, and the ability to add value by increasing to market rate rents, consolidating utility expenses, and/or adding affordable housing tenants. All units are studios with 2 different floorplans. 8 of the 9 units are currently leased. The unoccpuied unit is being kept vacant for showings. Positioned just minutes from some of Kansas City’s most dynamic destinations, this property is located less than 1 mile from Kansas City University Medical Campus, Downtown Kansas City, River Market, and the Columbus Park neighborhood. While the immediate area is still evolving, the location o

Key facts

• 2,404 sq ft lot
• Built 1920
• Listed 41 days

Property features AI

Finance

• Financial info: Gross annual income reported at $66,900; Operating expenses include utilities, insurance, property management, real estate taxes, and water/sewer

Exterior

• Parking: On-street parking (paved)
• Security: Security gate
• Utilities: Public water; Public sewer; Three-phase electric
• Home design: Residential income apartment building; Three stories; Zoned M1-5
• Construction: Brick and vinyl siding exterior; Tar and gravel roof; Building age: over 101 years
• Exterior features: Covered patio; Balcony; Fenced; Paved road access

Interior

• Kitchen: Refrigerator; Free‑standing electric oven / range
• Bedrooms: Nine total units consisting of studios (some units listed as 400 sq ft, some as 300 sq ft)
• Bathrooms: Each unit includes one bathroom
• Heating & cooling: Hot water heating; Wall furnace; Window air conditioning units
• Interior features: Storage; Common entry; Covered patio; Balcony; Fenced
• Laundry & utility: Master meters; Central water heater

What this means for you Summary

Snapshot

• This is a 9 × 1-bed/1-bath units multifamily listed at $647k.

Deal economics

• At list price, monthly cash flow is $7k ($85k/yr) — positive. Per door: $786/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $647k).
• Recommended offer: $628k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.4% 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: 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.
• Zoned schools: Whittier Elementary (math 11% / reading 17%, grade F, #1,002 of 1,115 statewide, top 90%, 351 students, 99% FRL); Northeast Middle School (math 4% / reading 9%, grade F, #384 of 391 statewide, top 98%, 555 students, 100% FRL); Northeast High (math 2% / reading 22%, grade F, #497 of 521 statewide, top 96%, 657 students, 100% FRL) — zoned schools average 99% FRL vs 75% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.2%/yr); 56 active listings in the ZIP; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $13,794/mo this rent would consume 315% of the median local household income ($53k/yr) (locally 973% 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 $4k of loan paydown is wiped out by about $19k 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 + 7.2% rent growth), your $181k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($628k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $627,590 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.13% ✓
• Cap rate: 19.41%
• Cash-on-cash: 46.83%
• DSCR: 3.08
• GRM: 3.9

CMA / ARV

• ARV (median comp): $593,621
• List price: $647,000
• Delta: 8.99%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.15% rent growth · sell at horizon

5-year hold

• IRR: 48.5%
• Equity multiple: 3.24×
• Total profit: $405,241
• Equity at exit: $96,470

10-year hold

• IRR: 55.8%
• Equity multiple: 7.62×
• Total profit: $1,200,151
• Equity at exit: $55,941

Cash invested: $181,160 (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 64106

• Home prices YoY: -1.5%
• Rents YoY: 7.2%
• Active inventory: 56
• Price-to-rent: 35.2×

Monthly cashflow live

• Estimated rent: $13,794 high
• Mortgage (P&I): −$3,393
• Tax from tax record: −$165 /mo · $1,981/yr
• Insurance: −$270
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,897
• Net cashflow: $7,070

Break-even live

Break-even rent $4,845

Max offer price $647,000

Occupancy floor 44%

Sensitivity live

Price	-10% $7,436	-5% $7,253	+0% $7,070	+5% $6,887	+10% $6,703
Rent	-10% $5,980	-5% $6,525	+0% $7,070	+5% $7,615	+10% $8,159
Rate	-1.0pp $7,395	-0.5pp $7,234	base $7,070	+0.5pp $6,902	+1.0pp $6,731

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

Units	Beds	Baths	Est. rent
▸ 9× units	1	1	$13,797
Total (9 units)			$13,794

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: $161,750
• Closing costs: $19,410
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $647,000 Active 42 DOM
2. 2026-06-18
   days on market $647,000 Active 39 DOM
3. 2026-06-17
   days on market $647,000 Active 38 DOM
4. 2026-06-16
   days on market $647,000 Active 37 DOM
5. 2026-06-15
   days on market $647,000 Active 36 DOM
6. 2026-06-13
   days on market $647,000 Active 34 DOM
7. 2026-06-09
   days on market $647,000 Active 30 DOM
8. 2026-06-08
   days on market $647,000 Active 29 DOM
9. 2026-06-07
   days on market $647,000 Active 28 DOM
10. 2026-06-05
    days on market $647,000 Active 25 DOM
11. 2026-06-03
    days on market $647,000 Active 24 DOM
12. 2026-06-02
    days on market $647,000 Active 23 DOM
13. 2026-06-01
    days on market $647,000 Active 22 DOM
14. 2026-05-31
    days on market $647,000 Active 21 DOM
15. 2026-05-11
    listed $647,000 Active 879-char remark
16. 2026-05-10
    historical $647,000 879-char remark
17. 2026-02-28
    historical
18. 2025-09-22
    listed $699,999 Active
19. 2025-08-12
    historical
20. 2025-04-01
    listed $725,000 Active
21. 2023-11-13
    soldstatus
22. 1989-05-24
    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: $1,981 · $165/mo
• Projected year-2 tax: $6,276 · $523/mo
• Expected delta: +$4,295/yr (+$358/mo · 216.8%)

ⓘ 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 · 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: $165,528
• − Mortgage interest: −$36,242
• − Property taxes: −$1,981
• − Insurance: −$3,235
• − Repairs & maintenance: −$13,242
• − Management: −$13,242
• − Depreciation: −$18,822
• Taxable income: $78,763
• Est. tax owed @ 24.0%: −$18,903
• After-tax cash flow: $65,932/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): 11,343
• Household income: $52,564
• Rent vs Own: 83.0% rent · 17.0% own
• Severe rent burden: 973.0

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 0.65)
• Race & ethnicity: White 45% Black 37% Asian 8% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Portuguese 2% Italian 1% Lithuanian 1%
• Foreign-born: 16% · Canada, Vietnam, South Korea
• Languages at home: 81% English-only · Spanish 4% Other Indo-European 3% Vietnamese 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: ▼ -3.60%
• Current HPI: 240.7201
• Rent YoY: ▲ 7.15%
• 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

-10.8% since first listed

8 events — show timeline

• 2026-05-11 Listed $647,000 Heartland MLS as Distributed by MLS Grid
• 2026-05-10 Coming Soon $647,000 Heartland MLS as Distributed by MLS Grid
• 2026-02-28 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-09-22 Listed $699,999 Heartland MLS as Distributed by MLS Grid
• 2025-08-12 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-04-01 Listed $725,000 Heartland MLS as Distributed by MLS Grid
• 2023-11-13 Sold (Public Records) — Public Records
• 1989-05-24 Sold (Public Records) — Public Records

Property tax history

+7.0%/yr

Latest (2025): $1,981 · +4.1% YoY. Source: county tax records.