2805 Charlotte St · Kansas City, MO 64109

$950,000

12 bd · 6.0 ba · 4,952 sqft · MultiFamily public records · 1 Days on market

Built 1920 7,230 sqft lot Est $872k · 9% over

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Why this score? — see what drove the D- 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 +14.7/30.0
• Rent growth +4.9/5.0
• DSCR +4.5/10.0
• Livability +3.9/5.0
• ARV discount +3.4/15.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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

The property at 2805 Charlotte is a meticulously restored, three-story brick complex located in the highly sought-after historic Longfellow neighborhood of Kansas City, Missouri. Constructed in 1920, this classic-style building exudes timeless charm while offering modern conveniences, making it an exceptional investment opportunity. The complex comprises six fully renovated 2-bedroom, 1-bathroom units, each with a thoughtfully designed footprint of approximately 900 square feet. Residents enjoy private patios or balconies with picturesque neighborhood views, as well as six off-street asphalt parking spaces conveniently located at the rear of the property. Following an extensive 18-month reh

Key facts

• Quartz countertops
• High-end finishes
• 7,230 sq ft lot

Tags

• PRIVATE PATIOS OR BALCONIES
• OFF-STREET ASPHALT PARKING
• FULLY RENOVATED UNITS
• HIGH-END FINISHES
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERTOPS

Property features AI

Finance

• Other: Property classified as residential income (apartment)
• Financial info: Gross annual income reported at $89,654; Operating expenses include accounting, advertising, electricity, exterminator, legal, maintenance, insurance, property management, real estate tax, refuse collection, water/sewer, and supplies
• HOA & community: No association fees

Exterior

• Parking: Off-street parking for 6 vehicles
• Security: N/A
• Utilities: Public water; Public sewer; Independent heating and air for units
• Home design: Residential income property (apartment); Three stories; Zoned R-2.5
• Construction: Brick and wood siding exterior; Composition roof
• Exterior features: Not located in a flood plain; Lot approximately 7,230 square feet

Interior

• Kitchen: N/A
• Bedrooms: Two-bedroom units
• Flooring: N/A
• Bathrooms: One bathroom per unit
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Basement present
• Laundry & utility: Individual water heaters; Separate meters

What this means for you Summary

Snapshot

• This is a 12-bed/6.0-bath multifamily listed at $950k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/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 $752k (20.9% below list).
• Recommended offer: $752k (20.9% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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; lower-income renter base — watch delinquency; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $7,519/mo this rent would consume 215% of the median local household income ($42k/yr) (locally 853% 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 $7k of loan paydown is wiped out by about $28k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $751,900 (20.9% below list)

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. 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?
5. 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.
6. 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.
7. 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: 0.79% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.13%
• DSCR: 1.05
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $871,552
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2805 Charlotte St	0.00mi	12/6.0	5,400 (+9%)	1mo	$950,000	$176	84
2543 Cherry St	0.35mi	12/3.0	5,400 (+9%)	21mo	$750,000	$139	39

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: -9.7%
• Equity multiple: 0.63×
• Total profit: $-98,619
• Equity at exit: $141,648

10-year hold

• IRR: 4.9%
• Equity multiple: 1.43×
• Total profit: $113,869
• Equity at exit: $82,139

Cash invested: $266,000 (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: 63.2×

Monthly cashflow live

• Estimated rent: $7,519 high
• Mortgage (P&I): −$4,982
• Tax from tax record: −$311 /mo · $3,731/yr
• Insurance: −$396
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,579
• Net cashflow: $251

Break-even live

Break-even rent $7,201

Max offer price $950,000

Occupancy floor 92%

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$7,518
Total (6 units)			$7,519

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: $237,500
• Closing costs: $28,500
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-30
   status Pending
2. 2026-04-30
   listed $950,000 Active
3. 2022-01-19
   soldstatus
4. 2009-02-27
   soldstatus
5. 1991-06-14
   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: $3,731 · $311/mo
• Projected year-2 tax: $9,215 · $768/mo
• Expected delta: +$5,484/yr (+$457/mo · 147.0%)

ⓘ 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $90,228
• − Mortgage interest: −$53,215
• − Property taxes: −$3,731
• − Insurance: −$4,750
• − Repairs & maintenance: −$7,218
• − Management: −$7,218
• − Depreciation: −$27,636
• Taxable loss: −$13,540
• Est. tax savings @ 24.0%: +$3,250
• After-tax cash flow: $6,266/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

5 events — show timeline

• 2026-04-30 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-30 Listed $950,000 Heartland MLS as Distributed by MLS Grid
• 2022-01-19 Sold (Public Records) — Public Records
• 2009-02-27 Sold (Public Records) — Public Records
• 1991-06-14 Sold (Public Records) — Public Records

Property tax history

+7.5%/yr

Latest (2025): $3,731 · -63.5% YoY. Source: county tax records.