5613-5615 N Strathbury Ave

Kansas City, MO 64151

$250,000F

2 bd · 1.0 ba · 878 sqft · Built 1967 · Other · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,373/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$413
• HOA: −$0
• Vac / Maint / Mgmt: −$288
• Net cashflow: $-640/mo
• Annual: $-7,678/yr
• Cap rate: 3.22%
• Cash-on-cash: -10.97%
• DSCR: 0.51
• 1% rule: 0.55%
• Cash to close: $70,000

Investor read

• This is a 2-bed/1.0-bath other listed at $250k.
• At list price, monthly cash flow is $-640 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (45.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (45.1% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $137k (45.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• 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: crime F.
• Park Hill (urban): math 47% / reading 54% proficiency, ranked #26 of 324 in MO (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Southeast Elem. (math 45% / reading 49%, grade D-, #347 of 1,115 statewide, top 35%, 500 students, 32% FRL); Park Hill South High (math 67% / reading 69%, grade B, #13 of 521 statewide, top 2%, 1,860 students, 25% FRL).
• Market conditions: Rents rising fast (+4.8%/yr); 166 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 234 units permitted in Platte County in 2024 (0 in 5+ unit buildings).
• Platte County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• This rent is only 18% of the median local income ($93k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• 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?
• Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.