900 Cleveland Ave · Kansas City, KS 66101

$85,000

2 bd · 3.0 ba · 1,430 sqft · Condo public records · 3 Days on market

Built 1925

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0

Listing remarks

ATTENTION INVESTORS! HISTORIC KANSAS CITY, KS HOME READY FOR COMPLETE RENOVATION. THE INTERIOR HAS BEEN COMPLETELY GUTTED AND IS READY FOR YOUR VISION. RECENT EXTERIOR IMPROVEMENTS INCLUDE SIDING AND WINDOWS. PLENTY OF SQUARE FOOTAGE IN THIS SPACIOUS HOME SITUATED ON A LARGE, CORNER LOT. LOCATED IN A CENTRAL LOCATION MINUTES FROM DOWNTOWN, THE LEGENDS AND SPORTING KC. EXCELLENT OPPORTUNITY FOR A FLIP OR RENTAL TO ADD TO YOUR INVESTMENT PORTFOLIO. HOME IS TO BE SOLD "AS iS" AND IS IN NEED OF ALL INTERIOR WORK.

Key facts

• Large corner lot
• Complete renovation
• Central location

Tags

• COMPLETE RENOVATION
• RECENT EXTERIOR IMPROVEMENTS
• LARGE CORNER LOT
• CENTRAL LOCATION

Property features AI

Finance

• Other: Property not in flood plain; Lot dimensions approximately 50 x 86 (4,792 sq ft); Paved road with public maintenance; About 1,430 sq ft of above-grade living area; Age: 101 years or more
• HOA & community: No association fees

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 1.5-story floor plan; Residential property
• Construction: Frame construction; Other roof
• Exterior features: Front porch; Metal fencing; City lot on a corner

Interior

• Bedrooms: 4 bedrooms (three on second floor, one on first floor)
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating system specified; No cooling system specified
• Interior features: Thermal windows; Unfinished basement
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 10.8% vs local median 4.8% 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 72/100 on livability (#103 in KS) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: 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.
• Zoned schools: Bertram Caruthers Elem (math 22% / reading 22%, grade F, #569 of 684 statewide, top 85%, 352 students, 96% FRL); Carl B. Bruce Middle School (math 2% / reading 6%, grade F, #219 of 219 statewide, top 100%, 837 students, 86% FRL); Wyandotte High (math 2% / reading 3%, grade F, #325 of 327 statewide, top 99%, 1,832 students, 83% FRL).
• Market conditions: 42 active listings in the ZIP; lower-income renter base — watch delinquency; 369 units permitted in Wyandotte County in 2024 (236 in 5+ unit buildings).
• This rent runs 35% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $9k of equity ($588 loan paydown + $8k appreciation (10.0% local appreciation)).
• Wyandotte County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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: property tax is 2.5% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.46% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.03%
• DSCR: 1.71
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.2%
• Equity multiple: 3.80×
• Total profit: $66,604
• Equity at exit: $76,575

10-year hold

• IRR: 31.2%
• Equity multiple: 8.58×
• Total profit: $180,341
• Equity at exit: $165,136

Cash invested: $23,800 (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 66101

• Home prices YoY: 20.4%
• Active inventory: 42
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,238 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$179 /mo · $2,146/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $318

Break-even live

Break-even rent $835

Max offer price $85,000

Occupancy floor 69%

Sensitivity live

Price	-10% $366	-5% $342	+0% $318	+5% $294	+10% $270
Rent	-10% $220	-5% $269	+0% $318	+5% $367	+10% $416
Rate	-1.0pp $361	-0.5pp $340	base $318	+0.5pp $296	+1.0pp $273

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-15
   status Pending
2. 2026-05-12
   listed $85,000 Active
3. 2026-04-17
   status Pending
4. 2026-04-17
   historical
5. 2026-04-16
   listed $85,000 Active
6. 2026-04-09
   historical
7. 2025-07-07
   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 KS · Resets to sale price

• Current annual tax: $2,146 · $179/mo
• Projected year-2 tax: $2,146 · $179/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 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: $14,854
• − Mortgage interest: −$4,761
• − Property taxes: −$2,146
• − Insurance: −$425
• − Repairs & maintenance: −$1,188
• − Management: −$1,188
• − Depreciation: −$2,473
• Taxable income: $2,673
• Est. tax owed @ 24.0%: −$641
• After-tax cash flow: $3,173/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): 12,556
• Household income: $42,551
• Rent vs Own: 60.8% rent · 39.2% own
• Severe rent burden: 457.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 47% Black 30% White 16% Two or more races 10% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 40%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 29% · Canada, India
• Languages at home: 53% English-only · Spanish 39% Other Asian/Pacific 2%

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: ▲ 77.98%
• Current HPI: 460.4303
• Rent YoY: —
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

7 events — show timeline

• 2026-05-15 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-12 Listed $85,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-17 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-17 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-04-16 Listed $85,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-09 Coming Soon — Heartland MLS as Distributed by MLS Grid
• 2025-07-07 Sold (Public Records) — Public Records

Property tax history

+11.2%/yr

Latest (2025): $2,146 · +103.6% YoY. Source: county tax records.