3237 Wabash Ave · Kansas City, MO 64109

$91,200

3 bd · 2.0 ba · 1,535 sqft · SingleFamily public records · 10 Days on market

Built 1920 6,586 sqft lot $59/sqft · 39% below area Est $150k · 39% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.9/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

On the Auction website. No access to the property. Sold in its present condition. Occupied by (unknown party). No lockbox. You can walk around the house. The driveway is to the right of the house. The vacant lot next to the property does not belong to the property. One block West of Prospect. Wabash is one way north of Street.

Key facts

• 6,586 sq ft lot
• Built 1920
• Listed 10 days

Property features AI

Finance

• Other: Located inside city limits
• HOA & community: No association fees

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two-story floor plan; Faces west
• Construction: Board & batten siding; Composition roof; Stone/rock basement; Built over 100 years ago
• Exterior features: Deck; City lot, level

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Three bedrooms (all on the second floor)
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; No central air
• Interior features: Storm windows (partial); Living and dining combined
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $91k.

Deal economics

• At list price, monthly cash flow is $542 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $91k).
• Cap rate 13.4% 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: 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 (+9.5%/yr); 97 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• This rent runs 40% of the median local income ($42k/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 $631 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 10 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: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $91,200

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.54% ✓
• Cap rate: 13.42%
• Cash-on-cash: 25.47%
• DSCR: 2.13
• GRM: 5.4

CMA / ARV

• ARV (median comp): $150,360
• List price: $91,200
• Delta: -39.35%
• 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
3431 Wabash Ave	0.23mi	3/1.5	1,533 (-0%)	3mo	$214,900	$140	85
2947 Garfield Ave	0.54mi	3/2.0	1,527 (-0%)	0mo	$125,000	$82	74
3416 Park Ave	0.24mi	3/1.5	1,436 (-6%)	5mo	$125,000	$87	72
3509 Brooklyn Ave	0.35mi	4/2.0 (+1)	1,418 (-8%)	3mo	$130,000	$92	64
3337 Flora Ave	0.63mi	3/2.0	1,600 (+4%)	2mo	$178,900	$112	62
3009 Garfield Ave	0.41mi	3/1.5	1,396 (-9%)	3mo	$85,000	$61	62
2112 E 36th St	0.44mi	3/2.0	1,343 (-12%)	2mo	$150,000	$112	57
3800 Chestnut Ave	0.67mi	3/1.0	1,470 (-4%)	1mo	$79,900	$54	57
3620 Agnes St	0.54mi	3/1.0	1,444 (-6%)	5mo	$95,000	$66	57
3615 College Ave	0.66mi	3/1.5	1,598 (+4%)	5mo	$50,000	$31	56
2922 E 30th St	0.47mi	3/1.0	1,364 (-11%)	3mo	$73,600	$54	53
3547 Bellefontaine Ave	0.54mi	3/1.0	1,748 (+14%)	0mo	$95,000	$54	48

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 24.3%
• Equity multiple: 2.06×
• Total profit: $27,159
• Equity at exit: $13,598

10-year hold

• IRR: 35.0%
• Equity multiple: 4.99×
• Total profit: $101,862
• Equity at exit: $7,885

Cash invested: $25,536 (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 64109

• Rents YoY: 9.5%
• Active inventory: 97
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,406 high
• Mortgage (P&I): −$478
• Tax from tax record: −$53 /mo · $632/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $542

Break-even live

Break-even rent $720

Max offer price $91,200

Occupancy floor 56%

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: $22,800
• Closing costs: $2,736
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2120 Linwood Blvd Kansas City, MO	3.0	1.0	1326	$1,400	$1.06	44d	1	0.24mi
3434 Olive St Kansas City, MO	3.0	2.0	2020	$1,445	$0.72	44d	1	0.28mi
3304 Agnes Ave Unit Downstairs Kansas City, MO	3.0	1.0	1150	$1,095	$0.95	44d	1	0.30mi
3434 Chestnut Ave Kansas City, MO	2.0	1.0	1512	$1,100	$0.73	10d	1	0.31mi
3346 Agnes Ave Kansas City, MO	3.0	1.0	1400	$1,200	$0.86	7d	1	0.33mi
3009 Garfield Ave Kansas City, MO	3.0	1.5	1334	$1,425	$1.07	44d	1	0.39mi
2018 E 35th St Kansas City, MO	3.0	2.0	1502	$1,800	$1.20	3d	1	0.39mi
2002 E 35th St Kansas City, MO	3.0	2.0	1426	$1,295	$0.91	7d	1	0.41mi
3205 E 31st St Kansas City, MO	4.0	1.0	1800	$1,325	$0.74	23d	1	0.48mi
3524 Bellefontaine Ave Kansas City, MO	3.0	1.0	1228	$1,350	$1.10	44d	1	0.51mi
3419 College Ave Kansas City, MO	4.0	1.0	1608	$1,300	$0.81	2d	1	0.55mi
3220 E 30th St Unit 1A Kansas City, MO	2.0	1.0	1214	$950	$0.78	44d	1	0.58mi
3630 Agnes Ave Kansas City, MO	3.0	2.0	1448	$1,500	$1.04	10d	1	0.59mi
2724 Brooklyn Ave Kansas City, MO	3.0	2.5	1398	$1,440	$1.03	23d	1	0.67mi
2708 Olive St Kansas City, MO	4.0	2.0	1585	$1,500	$0.95	17d	1	0.68mi
3305 Askew Ave Kansas City, MO	3.0	1.5	1428	$1,450	$1.02	23d	1	0.69mi
3609 Wayne Ave Kansas City, MO	3.0	1.5	1118	$1,900	$1.70	23d	1	0.71mi
3817 S Benton Ave Kansas City, MO	4.0	1.5	1380	$1,650	$1.20	23d	1	0.76mi
3902 Wabash Ave Kansas City, MO	4.0	2.0	1400	$1,850	$1.32	44d	1	0.81mi
3525 Monroe Ave Kansas City, MO	3.0	2.0	1569	$1,500	$0.96	44d	1	0.84mi
3314 Tracy Ave Unit B Kansas City, MO	3.0	1.0	1100	$947	$0.86	21d	1	0.84mi
3314 Tracy Ave Kansas City, MO	3.0	1.0	1100	$947	$0.86	7d	1	0.84mi
3840 Bellefontaine Ave Kansas City, MO	3.0	1.0	1500	$1,500	$1.00	16d	1	0.85mi
3818 Indiana Ave Kansas City, MO	3.0	1.5	1223	$1,147	$0.94	44d	1	0.90mi
3739 Bales Ave Kansas City, MO	3.0	2.0	1400	$1,575	$1.12	23d	1	0.91mi
2729 Grove St Kansas City, MO	3.0	2.0	1510	$1,375	$0.91	44d	1	0.92mi
1108 E Armour Blvd Kansas City, MO	2.0	1.0–2.0	780	$1,745	$2.24	44d	5	0.95mi
1108 E Armour Blvd Kansas City, MO	2.0	1.0–2.0	773	$1,745	$2.26	3d	11	0.95mi
4014 Park Ave Kansas City, MO	3.0	2.0	1271	$1,273	$1.00	44d	1	0.97mi
4018 Prospect Ave Kansas City, MO	4.0	1.5	1900	$1,695	$0.89	44d	1	0.97mi
1111 E Armour Blvd Kansas City, MO	2.0	1.0–2.0	788	$1,660	$2.11	3d	9	0.97mi
1111 E Armour Blvd Kansas City, MO	2.0	1.0–2.0	812	$1,660	$2.04	44d	9	0.97mi
3332 Norton Ave Kansas City, MO	3.0	1.0	1272	$1,350	$1.06	44d	1	0.98mi
3713 Cleveland Ave Kansas City, MO	4.0	1.0	1256	$1,250	$1.00	16d	1	1.00mi
2846 Myrtle Ave Kansas City, MO	3.0	2.0	1705	$1,350	$0.79	16d	1	1.01mi
1020 E Armour Blvd Kansas City, MO	2.0	1.0–2.0	865	$1,825	$2.11	16d	22	1.02mi
1025 E Armour Blvd Kansas City, MO	2.0	1.0–2.0	784	$1,835	$2.34	3d	20	1.03mi
1025 E Armour Blvd Kansas City, MO	2.0	1.0–2.0	779	$1,815	$2.33	44d	22	1.03mi
4107 Olive St Kansas City, MO	3.0	1.5	1271	$1,578	$1.24	7d	1	1.06mi
4112 Park Ave Kansas City, MO	4.0	2.0	1700	$1,800	$1.06	14d	1	1.09mi

Listing history 8 events

1. 2026-06-18
   days on market $91,200 Active 10 DOM
2. 2026-06-17
   days on market $91,200 Active 9 DOM
3. 2026-06-16
   days on market $91,200 Active 8 DOM
4. 2026-06-15
   days on market $91,200 Active 7 DOM
5. 2026-06-13
   days on market $91,200 Active 5 DOM
6. 2026-06-09
   remarks 328-char remark
7. 2026-06-09
   days on marketlisting id $91,200 Active 1 DOM
8. 2026-05-05
   listed $91,200 Active 232-char remark

ⓘ 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: $632 · $53/mo
• Projected year-2 tax: $885 · $74/mo
• Expected delta: +$252/yr (+$21/mo · 39.9%)

ⓘ 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: $16,876
• − Mortgage interest: −$5,109
• − Property taxes: −$632
• − Insurance: −$456
• − Repairs & maintenance: −$1,350
• − Management: −$1,350
• − Depreciation: −$2,653
• Taxable income: $5,326
• Est. tax owed @ 24.0%: −$1,278
• After-tax cash flow: $5,226/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): 10,043
• Household income: $41,943
• Rent vs Own: 61.7% rent · 38.3% own
• Severe rent burden: 853.0

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 0.64)
• Race & ethnicity: Black 45% White 39% Hispanic / Latino 9% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 1% Romanian 1% Lithuanian 1%
• Foreign-born: 7% · Canada, Philippines, China
• Languages at home: 88% English-only · Spanish 5% Other Asian/Pacific 3% Arabic 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: ▼ -275.12%
• Current HPI: 243.6094
• Rent YoY: ▲ 9.50%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-08 Listed $91,200 Heartland MLS as Distributed by MLS Grid
• 2026-05-27 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-05-05 Listed $91,200 Heartland MLS as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2025): $632 · -6.1% YoY. Source: county tax records.