2024 Summit St · Kansas City, MO 64108

$265,000

2 bd · 1.0 ba · 1,392 sqft · SingleFamily public records · 312 Days on market

Built 1900 3,732 sqft lot $190/sqft · 38% below area Est $426k · 38% under ↓ 7% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +14.4/30.0
• DSCR +4.4/10.0
• Livability +3.9/5.0
• 1% rule +3.0/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, location, location! Whether looking for a complete renovation project on a unique property, or a scrape, this property is it! This is your opportunity to renovate or build your dream home in the coveted Westside neighborhood of Kansas City. New construction homes in the area are selling for $665k-$1MM+, leaving plenty of options to make this lot your piece of paradise. Seller is also selling the three additional parcels (2018, 2020 & 2026), develop the entire plot, or just one parcel! Great location nearby highway access, local restaurants, community center and parks.

Key facts

• Community center
• Highway access
• Unique property

Tags

• COMPLETE RENOVATION PROJECT
• UNIQUE PROPERTY
• NEW CONSTRUCTION HOMES
• THREE ADDITIONAL PARCELS
• HIGHWAY ACCESS
• COMMUNITY CENTER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-13 ($-155/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (19.6% below list).
• Recommended offer: $213k (19.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: 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.
• Zoned schools: Ac Prep Elementary (math 12% / reading 27%, grade F, #941 of 1,115 statewide, top 86%, 341 students, 99% FRL); Northeast Middle School (math 4% / reading 9%, grade F, #384 of 391 statewide, top 98%, 555 students, 100% FRL); Northeast High (math 2% / reading 22%, grade F, #497 of 521 statewide, top 96%, 657 students, 100% FRL) — zoned schools average 99% FRL vs 75% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 98 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• This rent runs 32% of the median local income ($81k/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 $2k of loan paydown is wiped out by about $8k 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 312 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $213,119 (19.6% below list)

Questions for the listing agent

1. 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?
2. It's been on market 312 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.80% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.87%
• DSCR: 1.04
• GRM: 10.4

CMA / ARV

• ARV (median comp): $426,109
• List price: $265,000
• Delta: -37.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1216 W 20th Ter	0.28mi	3/2.0 (+1)	1,380 (-1%)	1mo	$329,000	$238	76
1637 Jefferson St	0.41mi	1/1.5 (-1)	1,400 (+1%)	7mo	$399,900	$286	68
1717 Madison Ave	0.27mi	2/1.5	1,480 (+6%)	15mo	$585,000	$395	62
1619 Jefferson St	0.45mi	2/1.0	1,258 (-10%)	2mo	$484,950	$385	62
2120 Jefferson St	0.13mi	2/1.0	1,591 (+14%)	13mo	$325,000	$204	59
2021 Mercier St	0.30mi	3/1.0 (+1)	1,340 (-4%)	23mo	$140,000	$104	55
1624 Madison Ave	0.43mi	2/1.5	1,476 (+6%)	22mo	$325,000	$220	50
1625-1627 Summit St	0.42mi	3/1.5 (+1)	1,308 (-6%)	18mo	$400,000	$306	48
2634 Madison Ave	0.65mi	3/2.0 (+1)	1,424 (+2%)	15mo	$227,000	$159	44

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 · 0.44% rent growth · sell at horizon

5-year hold

• IRR: -19.4%
• Equity multiple: 0.34×
• Total profit: $-49,166
• Equity at exit: $39,512

10-year hold

• IRR: -18.0%
• Equity multiple: 0.12×
• Total profit: $-64,942
• Equity at exit: $22,912

Cash invested: $74,200 (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 64108

• Home prices YoY: -25.2%
• Rents YoY: 0.4%
• Active inventory: 98
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,131 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$130 /mo · $1,560/yr
• Insurance: −$110
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $-13

Break-even live

Break-even rent $2,148

Max offer price $262,724

Occupancy floor 96%

Sensitivity live

Price	-10% $137	-5% $62	+0% $-13	+5% $-88	+10% $-163
Rent	-10% $-181	-5% $-97	+0% $-13	+5% $71	+10% $155
Rate	-1.0pp $121	-0.5pp $55	base $-13	+0.5pp $-82	+1.0pp $-151

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1936 Summit St Kansas City, MO	1.0–2.0	1.0	1234	$1,805	$1.46	45d	1	0.14mi
601 Avenida Cesar E Chavez Kansas City, MO	1.0–2.0	1.0–2.0	933	$2,190	$2.35	0d	12	0.22mi
382 W 22nd St Kansas City, MO	2.0	2.0	1501	$2,019	$1.35	45d	1	0.30mi
382 W 22nd St Kansas City, MO	2.0	2.0	1350	$1,869	$1.38	18d	1	0.30mi
2121 Central St Kansas City, MO	1.0–2.0	1.0–2.0	1815	$3,095	$1.71	4d	3	0.35mi
360 W Pershing Rd Unit 330 Kansas City, MO	2.0	2.0	1612	$2,695	$1.67	45d	1	0.38mi
311 W 22nd St Kansas City, MO	3.0	1.0–2.0	1009	$3,319	$3.29	0d	59	0.39mi
2100 Wyandotte St Kansas City, MO	2.0	1.0–2.0	820	$2,515	$3.07	0d	13	0.40mi
117 W 20th St Kansas City, MO	1.0–2.0	1.0–2.0	1130	$5,416	$4.79	12d	1	0.45mi
217 W Pershing Rd Kansas City, MO	2.0	2.0	1423	$2,807	$1.97	6d	1	0.50mi
1819 Baltimore Ave Kansas City, MO	1.0	1.0	975	$2,350	$2.41	16d	1	0.55mi
1989 Main St Kansas City, MO	2.0	1.0–2.0	770	$2,465	$3.20	0d	16	0.58mi
2630 Madison Ave Unit 2 Kansas City, MO	2.0	1.0	1500	$1,850	$1.23	45d	1	0.60mi
2645 Madison Ave Unit 6 Kansas City, MO	3.0	2.0	1500	$2,300	$1.53	45d	1	0.64mi
1800 Walnut St Kansas City, MO	1.0	1.0	913	$2,661	$2.91	0d	15	0.65mi
2107 Grand Blvd #903 Kansas City, MO	1.0	1.0	920	$1,500	$1.63	23d	1	0.68mi
2107 Grand Blvd #1207 Kansas City, MO	1.0	1.5	900	$2,250	$2.50	9d	1	0.68mi
1660 Genessee St Kansas City, MO	2.0	1.0–2.0	813	$1,850	$2.28	0d	13	0.74mi
1600 Grand Blvd Kansas City, MO	2.0	2.0	1100	$1,800	$1.64	25d	1	0.80mi
200 S James St Kansas City, KS	2.0	1.0–2.0	806	$2,149	$2.66	19d	18	0.81mi
1477 Main St Kansas City, MO	2.0	1.0–2.5	1177	$7,180	$6.10	0d	14	0.83mi
106 W 14th St Kansas City, MO	1.0–2.0	1.0–2.0	1070	$4,599	$4.30	0d	30	0.83mi
1200 Washington St Kansas City, MO	1.0–2.0	1.0–2.0	1011	$2,257	$2.23	45d	17	0.84mi
1200 Washington St Kansas City, MO	1.0–2.0	1.0–2.0	1093	$2,324	$2.13	5d	16	0.84mi
1918 Locust St Kansas City, MO	2.0	1.0–2.0	734	$1,943	$2.65	0d	28	0.86mi
1444 Grand Blvd Kansas City, MO	1.0–2.0	1.0–2.0	901	$4,175	$4.63	0d	24	0.90mi
50 E 13th St Kansas City, MO	2.0	1.0–2.0	872	$3,330	$3.82	0d	24	0.97mi
1050 Jefferson St Kansas City, MO	1.0–2.0	1.0–2.0	1166	$2,558	$2.19	45d	17	0.97mi
1050 Jefferson St Kansas City, MO	1.0–2.0	1.0–2.0	1031	$2,533	$2.46	0d	15	0.97mi
227 E 27th St Kansas City, MO	2.0	2.0	1172	$1,960	$1.67	45d	1	0.97mi
1223 Union Ave Kansas City, MO	1.0	1.0	1175	$1,708	$1.45	19d	1	1.02mi
1003 Broadway Blvd Kansas City, MO	1.0–2.0	1.0–2.5	940	$1,800	$1.91	0d	13	1.02mi
106 W 11th St Kansas City, MO	2.0	1.0–2.0	838	$2,500	$2.98	0d	28	1.03mi
104 E 28 Ter Kansas City, MO	1.0–2.0	1.0–2.5	1087	$2,699	$2.48	0d	11	1.04mi
2705 McGee Trfy Kansas City, MO	3.0	1.0–2.0	1000	$2,339	$2.34	0d	15	1.05mi
934 Broadway Blvd Kansas City, MO	1.0	2.0	1190	$1,680	$1.41	16d	1	1.05mi
934 Broadway Blvd Kansas City, MO	1.0	1.0	1200	$1,670	$1.39	25d	1	1.05mi
103 E 28 Ter Kansas City, MO	2.0	2.0	980	$1,979	$2.02	45d	1	1.06mi
103 E 28 Ter Kansas City, MO	1.0	1.0	1050	$1,886	$1.80	0d	1	1.06mi
127 W 10th St Kansas City, MO	2.0	1.0–2.0	766	$1,690	$2.20	25d	12	1.07mi

Listing history 18 events

1. 2026-06-21
   days on market $265,000 Active 312 DOM
2. 2026-06-18
   days on market $265,000 Active 309 DOM
3. 2026-06-17
   days on market $265,000 Active 308 DOM
4. 2026-06-16
   days on market $265,000 Active 307 DOM
5. 2026-06-15
   days on market $265,000 Active 306 DOM
6. 2026-06-13
   days on market $265,000 Active 304 DOM
7. 2026-06-09
   days on market $265,000 Active 300 DOM
8. 2026-06-08
   days on market $265,000 Active 299 DOM
9. 2026-06-07
   days on market $265,000 Active 298 DOM
10. 2026-06-05
    days on market $265,000 Active 295 DOM
11. 2026-06-03
    days on market $265,000 Active 294 DOM
12. 2026-06-02
    days on market $265,000 Active 293 DOM
13. 2026-06-01
    days on market $265,000 Active 292 DOM
14. 2026-05-31
    days on market $265,000 Active 291 DOM
15. 2026-01-19
    price $265,000 590-char remark

    Show marketing remark (590 chars)

    Location, location, location! Whether looking for a complete renovation project on a unique property, or a scrape, this property is it! This is your opportunity to renovate or build your dream home in the coveted Westside neighborhood of Kansas City. New construction homes in the area are selling for $665k-$1MM+, leaving plenty of options to make this lot your piece of paradise. Seller is also selling the three additional parcels (2018, 2020 & 2026), develop the entire plot, or just one parcel! Great location nearby highway access, local restaurants, community center and parks.

16. 2025-10-22
    price $275,000 590-char remark

    Show marketing remark (590 chars)

    Location, location, location! Whether looking for a complete renovation project on a unique property, or a scrape, this property is it! This is your opportunity to renovate or build your dream home in the coveted Westside neighborhood of Kansas City. New construction homes in the area are selling for $665k-$1MM+, leaving plenty of options to make this lot your piece of paradise. Seller is also selling the three additional parcels (2018, 2020 & 2026), develop the entire plot, or just one parcel! Great location nearby highway access, local restaurants, community center and parks.

17. 2025-08-13
    listed $285,000 Active 590-char remark

    Show marketing remark (590 chars)

    Location, location, location! Whether looking for a complete renovation project on a unique property, or a scrape, this property is it! This is your opportunity to renovate or build your dream home in the coveted Westside neighborhood of Kansas City. New construction homes in the area are selling for $665k-$1MM+, leaving plenty of options to make this lot your piece of paradise. Seller is also selling the three additional parcels (2018, 2020 & 2026), develop the entire plot, or just one parcel! Great location nearby highway access, local restaurants, community center and parks.

18. 2005-10-27
    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: $1,560 · $130/mo
• Projected year-2 tax: $2,570 · $214/mo
• Expected delta: +$1,011/yr (+$84/mo · 64.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°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: $25,574
• − Mortgage interest: −$14,844
• − Property taxes: −$1,560
• − Insurance: −$2,122
• − Repairs & maintenance: −$2,046
• − Management: −$2,046
• − Depreciation: −$7,709
• Taxable loss: −$4,753
• Est. tax savings @ 24.0%: +$1,141
• After-tax cash flow: $986/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): 10,495
• Household income: $80,551
• Rent vs Own: 67.7% rent · 32.3% own
• Severe rent burden: 864.0

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 0.65)
• Race & ethnicity: White 50% Black 26% Hispanic / Latino 17% Two or more races 12% Asian 3%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 9% Arabic 1% French/Haitian/Cajun 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: ▼ -91.93%
• Current HPI: 273.3599
• Rent YoY: ▲ 0.44%
• 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

-7.0% since first listed

4 events — show timeline

• 2026-01-19 Price Changed $265,000 Heartland MLS as Distributed by MLS Grid
• 2025-10-22 Price Changed $275,000 Heartland MLS as Distributed by MLS Grid
• 2025-08-13 Listed $285,000 Heartland MLS as Distributed by MLS Grid
• 2005-10-27 Sold (Public Records) — Public Records

Property tax history

+9.8%/yr

Latest (2025): $1,560 · -86.2% YoY. Source: county tax records.