1501 N 23rd St · Kansas City, KS 66102

$169,000

2 bd · 1.0 ba · 834 sqft · SingleFamily public records · 1 Days on market

Built 1910 6,970 sqft lot

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Why this score? — see what drove the F 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 +9.2/30.0
• ARV discount +7.5/15.0
• Rent growth +4.6/5.0
• Livability +3.6/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Priced to SELL FAST! Home has detached garage with huge parking area. This would be a great home for 1st time buyers.

Key facts

• Workshop space
• Stone basement
• Main-floor laundry

Tags

• WORKSHOP SPACE
• HARDWOOD FLOORS
• MAIN-FLOOR LAUNDRY
• STONE BASEMENT
• DETACHED GARAGE
• ENHANCED ELECTRICAL SERVICE

Property features AI

Exterior

• Parking: Detached garage with garage door opener (1 garage space)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Bungalow / Ranch floor plan
• Construction: Metal siding; Composition roof; Full basement (stone/rock foundation); Estimated living area reported
• Exterior features: City lot

Interior

• Kitchen: Cooktop; Electric range; Refrigerator; Disposal; Ceramic tile surfaces; Laminate countertops; Pantry
• Bedrooms: 3 bedrooms (two on the first floor; one on the second floor)
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom; 1 half bathroom; Full basement with shower-only bath configuration on main level
• Heating & cooling: Forced air heating; Electric cooling; Window unit(s)
• Interior features: Pantry; Stained cabinets; Workshop; Eat-in kitchen / kitchen-dining combo
• Laundry & utility: Laundry on main level; Laundry on lower level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $-128 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (13.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (27.0% below list).
• Recommended offer: $123k (27.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#103 in KS) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment D-.
• Kansas City (urban): math 8% / reading 15% proficiency, ranked #169 of 169 in KS (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.4%/yr); 109 active listings in the ZIP; 369 units permitted in Wyandotte County in 2024 (236 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Wyandotte County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 21y ago; this cycle's ask is 383% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,302 (27.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.73% ✗
• Cap rate: 5.38%
• Cash-on-cash: -3.24%
• DSCR: 0.86
• GRM: 11.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.39×
• Total profit: $-29,037
• Equity at exit: $25,198

10-year hold

• IRR: -1.6%
• Equity multiple: 0.87×
• Total profit: $-6,205
• Equity at exit: $14,612

Cash invested: $47,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kansas: 83 Strongly Landlord-Friendly · R+10
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; moderate court pace.

Methodology + full state rankings →

ZIP-level market 66102

• Home prices YoY: -8.7%
• Rents YoY: 8.4%
• Active inventory: 109
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,233 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$145 /mo · $1,744/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $-128

Break-even live

Break-even rent $1,395

Max offer price $146,406

Occupancy floor —

Sensitivity live

Price	-10% $-32	-5% $-80	+0% $-128	+5% $-176	+10% $-224
Rent	-10% $-225	-5% $-177	+0% $-128	+5% $-79	+10% $-30
Rate	-1.0pp $-43	-0.5pp $-85	base $-128	+0.5pp $-172	+1.0pp $-216

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-17
   remarks 695-char remark
2. 2026-06-17
   listed $169,000 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 KS · Resets to sale price

• Current annual tax: $1,744 · $145/mo
• Projected year-2 tax: $2,383 · $199/mo
• Expected delta: +$639/yr (+$53/mo · 36.7%)

ⓘ 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,796
• − Mortgage interest: −$9,467
• − Property taxes: −$1,744
• − Insurance: −$845
• − Repairs & maintenance: −$1,184
• − Management: −$1,184
• − Depreciation: −$4,916
• Taxable loss: −$4,543
• Est. tax savings @ 24.0%: +$1,090
• After-tax cash flow: $-444/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
• NCES district ID: 2007950
• Math proficiency: 8% ▼ -10.00%
• Reading proficiency: 15% ▼ -4.00%
• Median HH income: $34,774
• Composite: 9.38/100
• National rank: #9856
• State rank: #169 of 169 in KS

Livability — Kansas City

• Score: 72/100
• State rank: #103
• US rank: #6054

Category grades

Amenities A Commute A+ Cost of living A+ Crime F Employment D- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kansas City, KS
• County: Wyandotte County · 130,206 people
• City population: 130,206
• Metro: Kansas City, MO-KS
• Population (ZIP): 29,443
• Household income: $52,861
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 1253.0

Population outlook (Wyandotte County) Hauer SSP2

• Today (2025): 177,063 people
• By 2030: 183,212 · +3.5%
• By 2040: 195,697 · +10.5%
• By 2050: 207,897 · +17.4%
• By 2075: 236,169 · +33.4%
• By 2100: 255,790 · +44.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 53% White 19% Black 17% Two or more races 15% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 43%
• Common ancestry: Italian 1% Romanian 0%
• Foreign-born: 28% · Canada, Philippines
• Languages at home: 52% English-only · Spanish 42% Other Asian/Pacific 5% Other Indo-European 1%

Political lean MEDSL · Wyandotte

• 2024 margin: Strong D (+23.9) · D 61.1% · R 37.3% · Other 1.6%
• 2008→2024 swing: -17.0pp toward R · 2008: 40.9pp · 2024: 23.9pp
• All cycles: 2024: D+23.9 2020: D+30.9 2016: D+29.1 2012: D+36.4 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.64%
• Current HPI: 383.6185
• Rent YoY: ▲ 8.36%
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+525.9% since first listed

15 events — show timeline

• 2026-06-17 Coming Soon $169,000 Heartland MLS as Distributed by MLS Grid
• 2018-05-31 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2017-12-13 Contingent — Heartland MLS as Distributed by MLS Grid
• 2017-11-07 Price Changed $20,000 Heartland MLS as Distributed by MLS Grid
• 2017-10-05 Relisted — Heartland MLS as Distributed by MLS Grid
• 2017-08-23 Contingent — Heartland MLS as Distributed by MLS Grid
• 2017-07-24 Price Changed $24,900 Heartland MLS as Distributed by MLS Grid
• 2017-07-13 Listed $35,000 Heartland MLS as Distributed by MLS Grid
• 2009-12-16 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2009-09-16 Listed $63,500 Heartland MLS as Distributed by MLS Grid
• 2006-08-21 Sold (Public Records) — Public Records
• 2005-08-05 Sold (Public Records) — Public Records
• 2005-07-27 Sold (Public Records) — Public Records
• 2005-07-25 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2005-04-25 Listed $27,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+8.3%/yr

Latest (2025): $1,744 · +34.4% YoY. Source: county tax records.