133 S Fuller St · Independence, MO 64050

$200,000

4 bd · 2.0 ba · 1,476 sqft · MultiFamily public records · 1 Days on market

Built 1959 6,534 sqft lot Est $198k · at est.

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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 +21.6/30.0
• ARV discount +7.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.8/10.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Buy these great, income producing duplexes, also see 135 Fuller (one next door), CAN also purchase with duplex one a few blocks away at 1618 Appleton as well. 1 unit vacant & show ready, all others rented with long term, paying tenants. Properties have been owned by one owner for 33 years! Rents could be raised eventually, taxes can be lowered, but buildings in great condition, and very easy to rent, or keep longer term tenants, they pay all utilities. This is a comfortable rental, just as the retiring owner!

Key facts

• 6,534 sq ft lot
• Built 1959

Property features AI

Finance

• Financial info: Gross income reported at $12,000; Operating expenses include maintenance, insurance, and real estate tax

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Separate utility meters
• Home design: Residential income duplex; Single-story
• Construction: Brick/mortar construction; Composition roof
• Exterior features: Off-street parking

Interior

• Kitchen: Range/Oven; Refrigerator
• Bedrooms: Two-bedroom units (2 units total)
• Heating & cooling: Natural gas heating; Electric cooling (central cooling present)
• Interior features: Basement present
• Laundry & utility: Separate meters

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive. Per door: $152/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (1.8% below list).
• Recommended offer: $196k (1.8% below list) — sets the bar for 1% rule.
• Cap rate 8.1% 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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $1,963/mo this rent would consume 48% of the median local household income ($49k/yr) (locally 972% 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 $1k of loan paydown is wiped out by about $6k 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 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $196,300 (1.8% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 0.98% ✗
• Cap rate: 8.11%
• Cash-on-cash: 6.50%
• DSCR: 1.29
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $197,784
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11300 & 11302 E 15th St S	0.61mi	4/2.0	1,496 (+1%)	12mo	$199,950	$134	59

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: -5.5%
• Equity multiple: 0.79×
• Total profit: $-11,567
• Equity at exit: $29,821

10-year hold

• IRR: 5.0%
• Equity multiple: 1.38×
• Total profit: $21,151
• Equity at exit: $17,292

Cash invested: $56,000 (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 64050

• Home prices YoY: -15.5%
• Rents YoY: 3.8%
• Active inventory: 125
• Price-to-rent: 17.0×

Monthly cashflow live

• Estimated rent: $1,963 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$115 /mo · $1,383/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $303

Break-even live

Break-even rent $1,579

Max offer price $200,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,962
Total (2 units)			$1,963

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11709 E Winner Rd Independence, MO	3.0	1.5	1300	$1,195	$0.92	16d	1	0.44mi
523 W Maple Ave Unit 2 A Independence, MO	3.0	2.0	964	$995	$1.03	43d	1	0.53mi
321 W South Ave Unit 11 Independence, MO	3.0	2.0	1000	$1,275	$1.27	21d	1	0.93mi
2110 S Sterling Ave Independence, MO	3.0	2.0	1722	$1,849	$1.07	16d	1	0.97mi
1425 S Northern Blvd Independence, MO	3.0	1.5	1275	$1,200	$0.94	7d	1	0.98mi
2256 S Sterling Ave Independence, MO	3.0	1.5	1284	$1,399	$1.09	16d	1	1.03mi
10817 E 19th Ter S Independence, MO	3.0	1.0	1428	$1,801	$1.26	16d	1	1.04mi
11323 E Thompson St Sugar Creek, MO	3.0	2.5	1794	$1,800	$1.00	12d	1	1.05mi
1109 S Appleton Ave Independence, MO	3.0	2.0	1200	$1,195	$1.00	16d	1	1.08mi
182 Novak St Sugar Creek, MO	3.0	2.0	1350	$1,800	$1.33	17d	1	1.08mi
1207 N McCoy St Independence, MO	3.0	2.0	972	$1,295	$1.33	7d	1	1.09mi
1502 S Pleasant St Independence, MO	3.0	2.0	1200	$1,399	$1.17	43d	1	1.24mi
11500 E Anderson St Independence, MO	3.0	2.0	1200	$1,599	$1.33	17d	1	1.24mi
1404 S Osage St Independence, MO	4.0	2.0	1300	$1,750	$1.35	14d	1	1.25mi
1416 S Hardy Ave Independence, MO	5.0	2.0	1328	$1,625	$1.22	43d	1	1.26mi
10323 E 20th St S Independence, MO	3.0	1.0	936	$1,400	$1.50	43d	1	1.38mi

Listing history 7 events

1. 2026-06-18
   statusdays on market $200,000 Active 1 DOM
2. 2026-06-17
   remarks 447-char remark
3. 2026-06-17
   days on market $200,000 Coming Soon 9 DOM
4. 2026-06-16
   days on market $200,000 Coming Soon 8 DOM
5. 2026-06-15
   days on market $200,000 Coming Soon 7 DOM
6. 2026-06-13
   remarks 11-char remark
7. 2026-06-13
   listed $200,000 Coming Soon 5 DOM

ⓘ 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: $1,383 · $115/mo
• Projected year-2 tax: $1,940 · $162/mo
• Expected delta: +$557/yr (+$46/mo · 40.3%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,556
• − Mortgage interest: −$11,203
• − Property taxes: −$1,383
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,884
• − Management: −$1,884
• − Depreciation: −$5,818
• Taxable income: $383
• Est. tax owed @ 24.0%: −$92
• After-tax cash flow: $3,549/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

+210.1% since first listed

5 events — show timeline

• 2026-06-08 Coming Soon $200,000 Heartland MLS as Distributed by MLS Grid
• 2020-11-09 Sold (Public Records) — Public Records
• 2016-02-19 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2016-01-14 Listed $64,500 Heartland MLS as Distributed by MLS Grid
• 1995-03-20 Sold (Public Records) — Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,383 · -25.9% YoY. Source: county tax records.