503 W Colonel Dr · Independence, MO 64050

$154,950

3 bd · 1.5 ba · 912 sqft · SingleFamily public records · 161 Days on market

Built 1959 8,470 sqft lot $170/sqft · 17% below area Est $188k · 17% 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 +16.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• Livability +4.1/5.0
• 1% rule +4.0/10.0
• 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

Very livable true ranch-Clean and move in ready-numerous updates such as windows, roof, gutters, bath, sewer line, counter tops, paint, vinyl siding, deck, refinished hardwood floors throughout, garage door, etc-foundation work approved by Norton and Schmidt Engineering- nice Kentucky Hills neighborhood-Move In Ready!

Key facts

• True ranch
• Vinyl siding
• Numerous updates

Tags

• TRUE RANCH
• NUMEROUS UPDATES
• VINYL SIDING
• FOUNDATION WORK APPROVED

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/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 $139k (10.3% below list).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• This rent runs 34% 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 $5k 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 161 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,356 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 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 1959 — 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: 0.90% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.51%
• DSCR: 1.11
• GRM: 9.3

CMA / ARV

• ARV (median comp): $187,737
• List price: $154,950
• Delta: -17.46%
• 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
3101 N Osage St	0.14mi	3/1.5	918 (+1%)	8mo	$175,000	$191	86
3404 N Mccoy St	0.22mi	3/1.5	929 (+2%)	1mo	$185,000	$199	86
3604 N Pleasant St	0.32mi	3/1.5	889 (-2%)	0mo	$212,000	$238	81
700 W 28th St	0.21mi	3/1.5	916 (+0%)	11mo	$149,900	$164	81
711 Colonel Dr	0.14mi	3/1.5	956 (+5%)	10mo	$105,000	$110	77
2903 N Union St	0.17mi	3/1.5	945 (+4%)	12mo	$135,000	$143	76
704 W 38th St N	0.42mi	3/1.0	912 (0%)	10mo	$175,000	$192	70
3303 N Mccoy St	0.13mi	3/2.0	1,014 (+11%)	4mo	$215,000	$212	70
3510 N Spring St	0.27mi	3/1.5	906 (-1%)	21mo	$175,000	$193	69
3501 N Delaware St	0.27mi	3/1.5	976 (+7%)	11mo	$209,900	$215	67
703 W 39th St N	0.45mi	3/1.5	912 (0%)	15mo	$185,000	$203	66
12900 E Silver Ln	0.47mi	2/1.0 (-1)	992 (+9%)	15mo	$184,500	$186	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 · 3.79% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.58×
• Total profit: $-18,230
• Equity at exit: $23,104

10-year hold

• IRR: -1.3%
• Equity multiple: 0.91×
• Total profit: $-3,858
• Equity at exit: $13,397

Cash invested: $43,386 (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: 9.3×

Monthly cashflow live

• Estimated rent: $1,390 high
• Mortgage (P&I): −$813
• Tax from tax record: −$130 /mo · $1,562/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $91

Break-even live

Break-even rent $1,275

Max offer price $154,950

Occupancy floor 88%

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: $38,738
• Closing costs: $4,648
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3407 N Pleasant St Independence, MO	3.0	1.5	905	$1,400	$1.55	3d	1	0.20mi
2522 N River Blvd Independence, MO	3.0	1.0	910	$1,495	$1.64	4d	1	0.44mi
702 W 39th St N Independence, MO	3.0	1.5	913	$1,450	$1.59	44d	1	0.47mi
2405 N River Blvd Independence, MO	2.0	1.0	830	$1,095	$1.32	7d	1	0.50mi
1714 N Pearl St Independence, MO	2.0	1.0	792	$1,195	$1.51	44d	1	0.98mi
1612 N Dodgion Ave Independence, MO	3.0	1.0	1000	$1,345	$1.34	44d	1	1.03mi
1207 N McCoy St Independence, MO	3.0	2.0	972	$1,295	$1.33	7d	1	1.27mi
1214 N Union St Independence, MO	2.0	1.0	912	$975	$1.07	44d	1	1.28mi
1100 N Noland Rd Apt D Independence, MO	2.0	1.0	800	$1,025	$1.28	7d	1	1.46mi

Listing history 27 events

1. 2026-06-18
   days on market $154,950 Active 161 DOM
2. 2026-06-17
   days on market $154,950 Active 160 DOM
3. 2026-06-16
   days on market $154,950 Active 159 DOM
4. 2026-06-15
   days on market $154,950 Active 158 DOM
5. 2026-06-13
   days on market $154,950 Active 156 DOM
6. 2026-06-09
   days on market $154,950 Active 152 DOM
7. 2026-06-08
   days on market $154,950 Active 151 DOM
8. 2026-06-07
   days on market $154,950 Active 150 DOM
9. 2026-06-05
   pricedays on market $154,950 Active 147 DOM
10. 2026-06-03
    days on market $165,950 Active 146 DOM
11. 2026-06-02
    days on market $165,950 Active 145 DOM
12. 2026-06-01
    days on market $165,950 Active 144 DOM
13. 2026-05-31
    days on market $165,950 Active 143 DOM
14. 2026-05-07
    status Active 320-char remark

    Show marketing remark (320 chars)

    Very livable true ranch-Clean and move in ready-numerous updates such as windows, roof, gutters, bath, sewer line, counter tops, paint, vinyl siding, deck, refinished hardwood floors throughout, garage door, etc-foundation work approved by Norton and Schmidt Engineering- nice Kentucky Hills neighborhood-Move In Ready!

15. 2026-04-21
    historical 320-char remark

    Show marketing remark (320 chars)

    Very livable true ranch-Clean and move in ready-numerous updates such as windows, roof, gutters, bath, sewer line, counter tops, paint, vinyl siding, deck, refinished hardwood floors throughout, garage door, etc-foundation work approved by Norton and Schmidt Engineering- nice Kentucky Hills neighborhood-Move In Ready!

16. 2026-04-14
    status Pending 320-char remark

    Show marketing remark (320 chars)

    Very livable true ranch-Clean and move in ready-numerous updates such as windows, roof, gutters, bath, sewer line, counter tops, paint, vinyl siding, deck, refinished hardwood floors throughout, garage door, etc-foundation work approved by Norton and Schmidt Engineering- nice Kentucky Hills neighborhood-Move In Ready!

17. 2026-02-13
    price $173,950 320-char remark

    Show marketing remark (320 chars)

    Very livable true ranch-Clean and move in ready-numerous updates such as windows, roof, gutters, bath, sewer line, counter tops, paint, vinyl siding, deck, refinished hardwood floors throughout, garage door, etc-foundation work approved by Norton and Schmidt Engineering- nice Kentucky Hills neighborhood-Move In Ready!

18. 2025-12-16
    listed $174,950 Active 320-char remark

    Show marketing remark (320 chars)

    Very livable true ranch-Clean and move in ready-numerous updates such as windows, roof, gutters, bath, sewer line, counter tops, paint, vinyl siding, deck, refinished hardwood floors throughout, garage door, etc-foundation work approved by Norton and Schmidt Engineering- nice Kentucky Hills neighborhood-Move In Ready!

19. 2023-03-17
    status Pending
20. 2023-03-17
    historical
21. 2023-03-05
    listed $155,950 Active
22. 2018-09-01
    historical
23. 2018-07-24
    price $77,950
24. 2018-06-20
    status Active
25. 2018-06-01
    status Pending
26. 2018-05-24
    listed $87,950 Active
27. 1982-04-01
    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: $1,562 · $130/mo
• Projected year-2 tax: $1,562 · $130/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: $16,680
• − Mortgage interest: −$8,680
• − Property taxes: −$1,562
• − Insurance: −$775
• − Repairs & maintenance: −$1,334
• − Management: −$1,334
• − Depreciation: −$4,508
• Taxable loss: −$1,513
• Est. tax savings @ 24.0%: +$363
• After-tax cash flow: $1,453/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

+97.8% since first listed

14 events — show timeline

• 2026-05-07 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-04-21 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-04-14 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-02-13 Price Changed $173,950 Heartland MLS as Distributed by MLS Grid
• 2025-12-16 Listed $174,950 Heartland MLS as Distributed by MLS Grid
• 2023-03-17 Pending — Heartland MLS as Distributed by MLS Grid
• 2023-03-17 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2023-03-05 Listed $155,950 Heartland MLS as Distributed by MLS Grid
• 2018-09-01 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2018-07-24 Price Changed $77,950 Heartland MLS as Distributed by MLS Grid
• 2018-06-20 Relisted — Heartland MLS as Distributed by MLS Grid
• 2018-06-01 Pending — Heartland MLS as Distributed by MLS Grid
• 2018-05-24 Listed $87,950 Heartland MLS as Distributed by MLS Grid
• 1982-04-01 Sold (Public Records) — Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,562 · +1.3% YoY. Source: county tax records.