201 S Willis Ave · Independence, MO 64050

$199,500

5 bd · 3.0 ba · 2,179 sqft · SingleFamily public records · 70 Days on market

Built 1978 6,660 sqft lot $92/sqft · 8% below area Est $256k · 22% under

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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 +15.5/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• Livability +4.1/5.0
• 1% rule +3.8/10.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INSTANT EQUITY & HISTORIC CHARM – PRICED BELOW MARKET FOR A QUICK SALE! Don't miss this rare opportunity to own a massive, totally transformed piece of Independence history. Step into a seamless blend of 1800s character and modern sophistication in this stunning 4-bedroom, 4-bathroom home. With approximately 2,500 sq. ft. of pristine living space, this property is aggressively priced at just $220,000 for an immediate sale. The heavy lifting is done—this home has undergone a complete top-to-bottom renovation. From the expansive living areas to the rare luxury of four full bathrooms, every detail has been meticulously updated. The interior is fresh, modern, and serves as a blank canvas, waiting for you to add the finishing touch with the appliances of your choice. Location is everything. You’re situated just steps from the vibrant and historic Independence Square, immersed in the rich heritage of the Truman Historic District. Spend your weekends browsing unique boutiques, grabbing a scoop at the legendary Clinton’s Soda Fountain, or strolling the tree-lined streets once walked by a President. Independence offers a rare mix of small-town community and modern convenience, with year-round festivals and deep-rooted history right at your doorstep. At this price point, a 4BR/4BA home of this size will not last. Schedule your showing today!

Key facts

• Brand new interior
• 6,660 sq ft lot
• Garage

Tags

• TOP TO BOTTOM RENOVATION
• BRAND NEW INTERIOR
• EXPANSIVE LIVING AREAS

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $80 ($959/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 $176k (11.7% below list).
• Recommended offer: $176k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 5.0% in Independence — 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 82/100 on livability (#10 in MO, #1,296 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, employment D+, crime F.
• Independence 30 (suburban): math 26% / reading 38% proficiency, ranked #252 of 324 in MO (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.8%/yr); 125 active listings in the ZIP; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• This rent runs 43% of the median local income ($49k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $176,183 (11.7% below list)

Questions for the listing agent

1. It's been on market 70 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 1978 — 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 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: 0.88% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.72%
• DSCR: 1.08
• GRM: 9.4

CMA / ARV

• ARV (median comp): $255,734
• List price: $199,500
• Delta: -21.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
711 S Fuller Ave	0.47mi	5/2.0	2,213 (+2%)	12mo	$200,000	$90	62
1321 W College St	0.48mi	5/3.0	2,001 (-8%)	4mo	$265,000	$132	61
1701 W Walnut St	0.36mi	4/2.0 (-1)	2,032 (-7%)	3mo	$155,900	$77	60
1229 W White Oak Ave	0.27mi	4/3.0 (-1)	2,443 (+12%)	6mo	$229,500	$94	58
707 N River Blvd	0.51mi	4/3.0 (-1)	2,036 (-7%)	7mo	$194,900	$96	54
610 W Truman Rd	0.42mi	5/4.0	2,374 (+9%)	10mo	$309,900	$131	53
11514 E 15th St	0.47mi	4/1.5 (-1)	2,128 (-2%)	15mo	$187,000	$88	51
907 W Truman Rd	0.25mi	4/3.5 (-1)	2,496 (+14%)	8mo	$299,900	$120	50
1619 W College St	0.67mi	4/2.0 (-1)	2,213 (+2%)	10mo	$184,999	$84	49
636 S Fuller Ave	0.43mi	6/2.0 (+1)	2,464 (+13%)	11mo	$345,000	$140	40
640 S Park Ave	0.46mi	4/1.5 (-1)	1,891 (-13%)	11mo	$320,000	$169	36
1236 S Scott Ave	0.54mi	4/2.5 (-1)	1,911 (-12%)	16mo	$180,000	$94	34

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

Projected returns pro-forma

-3.0% appreciation · 3.79% rent growth · sell at horizon

5-year hold

• IRR: -12.7%
• Equity multiple: 0.54×
• Total profit: $-25,838
• Equity at exit: $29,746

10-year hold

• IRR: -2.6%
• Equity multiple: 0.82×
• Total profit: $-10,116
• Equity at exit: $17,249

Cash invested: $55,860 (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 64050

• Home prices YoY: -15.5%
• Rents YoY: 3.8%
• Active inventory: 125
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,762 medium
• Mortgage (P&I): −$1,046
• Tax from tax record: −$183 /mo · $2,191/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $80

Break-even live

Break-even rent $1,661

Max offer price $199,500

Occupancy floor 90%

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $199,500 Active 70 DOM
2. 2026-06-17
   days on market $199,500 Active 69 DOM
3. 2026-06-16
   days on market $199,500 Active 68 DOM
4. 2026-06-15
   days on market $199,500 Active 67 DOM
5. 2026-06-13
   days on market $199,500 Active 65 DOM
6. 2026-06-09
   days on market $199,500 Active 61 DOM
7. 2026-06-08
   days on market $199,500 Active 60 DOM
8. 2026-06-07
   days on market $199,500 Active 59 DOM
9. 2026-06-05
   days on market $199,500 Active 56 DOM
10. 2026-06-03
    days on market $199,500 Active 55 DOM
11. 2026-06-02
    days on market $199,500 Active 54 DOM
12. 2026-06-01
    days on market $199,500 Active 53 DOM
13. 2026-05-31
    days on market $199,500 Active 52 DOM
14. 2026-04-29
    price $199,500 1383-char remark

    Show marketing remark (1383 chars)

    INSTANT EQUITY & HISTORIC CHARM – PRICED BELOW MARKET FOR A QUICK SALE! Don't miss this rare opportunity to own a massive, totally transformed piece of Independence history. Step into a seamless blend of 1800s character and modern sophistication in this stunning 4-bedroom, 4-bathroom home. With approximately 2,500 sq. ft. of pristine living space, this property is aggressively priced at just $220,000 for an immediate sale. The heavy lifting is done—this home has undergone a complete top-to-bottom renovation. From the expansive living areas to the rare luxury of four full bathrooms, every detail has been meticulously updated. The interior is fresh, modern, and serves as a blank canvas, waiting for you to add the finishing touch with the appliances of your choice. Location is everything. You’re situated just steps from the vibrant and historic Independence Square, immersed in the rich heritage of the Truman Historic District. Spend your weekends browsing unique boutiques, grabbing a scoop at the legendary Clinton’s Soda Fountain, or strolling the tree-lined streets once walked by a President. Independence offers a rare mix of small-town community and modern convenience, with year-round festivals and deep-rooted history right at your doorstep. At this price point, a 4BR/4BA home of this size will not last. Schedule your showing today!

15. 2026-04-09
    listed $220,000 Active 1383-char remark

    Show marketing remark (1383 chars)

    INSTANT EQUITY & HISTORIC CHARM – PRICED BELOW MARKET FOR A QUICK SALE! Don't miss this rare opportunity to own a massive, totally transformed piece of Independence history. Step into a seamless blend of 1800s character and modern sophistication in this stunning 4-bedroom, 4-bathroom home. With approximately 2,500 sq. ft. of pristine living space, this property is aggressively priced at just $220,000 for an immediate sale. The heavy lifting is done—this home has undergone a complete top-to-bottom renovation. From the expansive living areas to the rare luxury of four full bathrooms, every detail has been meticulously updated. The interior is fresh, modern, and serves as a blank canvas, waiting for you to add the finishing touch with the appliances of your choice. Location is everything. You’re situated just steps from the vibrant and historic Independence Square, immersed in the rich heritage of the Truman Historic District. Spend your weekends browsing unique boutiques, grabbing a scoop at the legendary Clinton’s Soda Fountain, or strolling the tree-lined streets once walked by a President. Independence offers a rare mix of small-town community and modern convenience, with year-round festivals and deep-rooted history right at your doorstep. At this price point, a 4BR/4BA home of this size will not last. Schedule your showing today!

16. 2010-07-28
    soldstatus 459-char remark

    Show marketing remark (459 chars)

    NO SELLER DISCLOSURES, ADDENDUMS APPLY, SELLER RESERVES THE RIGHT TO ACCEPT OFFER REGARDLESS OF ORDER RECEIVED, MULTIPLE OFFER SCENARIOS ARISES A BEST & FINAL OFFER MAYBE REQUESTED, OFFERS MUST HAVE PROOF OF FUNDS & 1000 CASHIER CK FOR EARNEST / ALL INSPECTION & REPAIR EST. DONE BEFORE AN OFFER AT BUYER'S COST CAN'T BE USED AS REASONS NOT TO CLOSE CONVERTED PROPERTY MUST BE USED AS SFR, ADDITIONAL 1 BEDROOM, 1 BATH APARTMENT IN BACK YARD

17. 2010-03-25
    listed $24,900 459-char remark

    Show marketing remark (459 chars)

    NO SELLER DISCLOSURES, ADDENDUMS APPLY, SELLER RESERVES THE RIGHT TO ACCEPT OFFER REGARDLESS OF ORDER RECEIVED, MULTIPLE OFFER SCENARIOS ARISES A BEST & FINAL OFFER MAYBE REQUESTED, OFFERS MUST HAVE PROOF OF FUNDS & 1000 CASHIER CK FOR EARNEST / ALL INSPECTION & REPAIR EST. DONE BEFORE AN OFFER AT BUYER'S COST CAN'T BE USED AS REASONS NOT TO CLOSE CONVERTED PROPERTY MUST BE USED AS SFR, ADDITIONAL 1 BEDROOM, 1 BATH APARTMENT IN BACK YARD

18. 2007-06-12
    soldstatus
19. 2005-12-30
    soldstatus
20. 2004-08-03
    soldstatus
21. 1999-02-19
    soldstatus
22. 1999-01-02
    listed $68,000

ⓘ 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: $2,191 · $183/mo
• Projected year-2 tax: $2,191 · $183/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 ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,142
• − Mortgage interest: −$11,175
• − Property taxes: −$2,191
• − Insurance: −$998
• − Repairs & maintenance: −$1,691
• − Management: −$1,691
• − Depreciation: −$5,804
• Taxable loss: −$2,408
• Est. tax savings @ 24.0%: +$578
• After-tax cash flow: $1,537/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: Independence 30
• NCES district ID: 2915480
• Math proficiency: 26% ▼ -8.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $41,843
• Composite: 27.04/100
• National rank: #7054
• State rank: #252 of 324 in MO

Livability — Independence

• Score: 82/100
• State rank: #10
• US rank: #1296

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, MO
• County: Jackson County · 687,798 people
• City population: 117,675
• Metro: Kansas City, MO-KS
• Population (ZIP): 21,079
• Household income: $48,834
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 972.0

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 White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 11% Two or more races 9% Black 7% Pacific Islander 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 4% Serbian 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Asian/Pacific 1%

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: ▼ -56.24%
• Current HPI: 305.796
• Rent YoY: ▲ 3.79%
• 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

+193.4% since first listed

9 events — show timeline

• 2026-04-29 Price Changed $199,500 Heartland MLS as Distributed by MLS Grid
• 2026-04-09 Listed $220,000 Heartland MLS as Distributed by MLS Grid
• 2010-07-28 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2010-03-25 Listed $24,900 Heartland MLS as Distributed by MLS Grid
• 2007-06-12 Sold (Public Records) — Public Records
• 2005-12-30 Sold (Public Records) — Public Records
• 2004-08-03 Sold (Public Records) — Public Records
• 1999-02-19 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 1999-01-02 Listed $68,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2025): $2,191 · -14.6% YoY. Source: county tax records.